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Step 3 Passing Book Closure Entries

Master Step 3 Passing Book Closure Entries with comprehensive NCERT Solutions, Practice Questions, MCQs, Sample Papers, Case Based Questions, and Video lessons.

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This is the third Chapter of our Accounts and Finance Course at teachoo. 

We will learn how to pass Book Closure entries in this chapter.

 

The topics covered are

  • Passing Prepaid Expense and Prepaid Income Entries
  • Difference between Expense and Expense Payable

  • Expense and Expense Payable Entries Practice

  • Difference between Salary and Salary Payable

  • What is accrued income and its entries
  • Depreciation Entries for companies and non-companies
  • Difference between Bad debts and Provision Bad Debts
  • What is Provision for Income Tax
  • Provision for Tax Entries with Advance Tax
  • Provision for Tax Entries with TDS Receivable
  • Fixed Asset Profit and Sales Entries... like

     

    • Profit on sale of fixed assets in Normal Depreciation

       

    • Loss on sale of Fixed Assets in Normal Depreciation

    • Profit on sale of fixed assets in Accumulated Depreciation Method

    • Loss on sale of Fixed Assets in Accumulated Depreciation Method

 

 

Click on the first link below to get started.

Note: When you click on the link, the first page of the concept will open. Other concepts of that topic are in a list with arrows (at the bottom)

Prepaid Entries

Accrured Expense Entries

Accrued Income Entries

Depreciation Entries

Provision for Bad and Doubtful Debts

Provision for Tax

Fixed Asset Profit and Loss on Sale Entry

Why Learn This With Teachoo?

This is the third Chapter of our Accounts and Finance Course at teachoo. 

We will learn how to pass Book Closure entries in this chapter.

 

The topics covered are

  • Passing Prepaid Expense and Prepaid Income Entries
  • Difference between Expense and Expense Payable

  • Expense and Expense Payable Entries Practice

  • Difference between Salary and Salary Payable

  • What is accrued income and its entries
  • Depreciation Entries for companies and non-companies
  • Difference between Bad debts and Provision Bad Debts
  • What is Provision for Income Tax
  • Provision for Tax Entries with Advance Tax
  • Provision for Tax Entries with TDS Receivable
  • Fixed Asset Profit and Sales Entries... like

     

    • Profit on sale of fixed assets in Normal Depreciation

       

    • Loss on sale of Fixed Assets in Normal Depreciation

    • Profit on sale of fixed assets in Accumulated Depreciation Method

    • Loss on sale of Fixed Assets in Accumulated Depreciation Method

 

 

Click on the first link below to get started.

Note: When you click on the link, the first page of the concept will open. Other concepts of that topic are in a list with arrows (at the bottom)