Which of the following account is carried forward to next year? Drawings Sales Interest income Machinery
Question
Solution 1
The account that is carried forward to the next year is "Machinery". This is because machinery is a fixed asset and its value is carried forward to the next accounting year. The cost of machinery is not fully expensed in the year of purchase but is depreciated over its useful life. Therefore, the va Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI
Similar Questions
Which of the following account is carried forward to next year? Drawings Sales Interest income Machinery
(c) Prepare the revised income and expenditure account for the year ended 31 December 2021.[12]
Which account(s) are found on an income statement? Select all that apply.
Which of the following is known as the graphic representation of a general ledger account.Question 1Answera.Journalb.Trial balancec.T-accountd.Income statement
Mr. Ram is a Partner in a firm. He draws 5000 at the beginning of every month. Calculateinterest on drawing @ 12% p.a. for the year 2016
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.