Special points :
1. B/f stands for brought forward. Taken from last period or year as the case may be.
2. Nominal accounts are not usually balanced but are closed by transferring to trading and profit & loss account.
3. Balancing of an account is necessary to ascertain the net effect of all transaction posted to that account during a given period.
To be continue.......
Our website
https://wstatus1997.wixsite.com/accountingservices
1. B/f stands for brought forward. Taken from last period or year as the case may be.
2. Nominal accounts are not usually balanced but are closed by transferring to trading and profit & loss account.
3. Balancing of an account is necessary to ascertain the net effect of all transaction posted to that account during a given period.
To be continue.......
Our website
https://wstatus1997.wixsite.com/accountingservices
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