Final Accounts with adjustments | Accrued Income | Incomes received in Advance | Class 11 Accounts

Understand the preparation of final accounts with adjustments in this video. Treatment or adjustment of Accrued Income and Incomes received in Advance for class 11 1. Closing stock will be shown on the credit side of trading account and on the asset side of the balance sheet 2. Outstanding expenses are added to the expenses and then shown on the liability side of the balance sheet 3. Prepaid expenses are deducted from the expenses and then shown on the asset side of the balance sheet 4. Accrued Incomes are added to the Incomes in P&L Account and then shown on the Assets side of the balance sheet 5. Incomes received in Advance are deducted from the incomes in P&L Account and then shown on the liability side of the balance sheet . . . . . 👍 Keep learning and keep growing with us!! ✅ If you like this video , please Like , Comment , Share & Subscribe our Channel Also Join our telegram channels: ✅ Class 11 Accounts by CA Manish Mahajan: https://t.me/class11accountsbycamanish ✅ Class 11 Economics by CA Manish Mahajan: https://t.me/class11economicsbycamanish ✅ Class 12 Accounts by CA Manish Mahajan: https://t.me/class12accountsbycamanish ✅ Class 12 Economics by CA Manish Mahajan: https://t.me/class12economicsbycamanish ✅ This channel helps you understand the concepts related to : Class 11 Accountancy; Class 11 Economics; Class 12 Accountancy; Class 12 Economics; CA and CS Foundation basics . . . . CA Manish Mahajan is a first class commerce graduate from Panjab University, having done his graduation in B.Com (Finance Hons.) from GGDSD College, Chandigarh. He qualified Chartered Accountancy course in 2010 and was placed in merit list (31st All India Rank in Final and 22nd All India Rank in Foundation). He possesses a vast experience of more than 18 Years in teaching Accountancy, Economics and Mathematics to the students of Classes +1 and+2 and also mentored the students of B.Com and CA. He has authored the books on Accountancy, Economics and Indirect Tax Laws. His unique lecture delivery and practical method of teaching, helps the student to easily grasp and remember the subject. This Channel provides all the educational content for the students of class 11 and class 12 for subjects Accounts and Economics. Here you get regular & organized content for complete course study. You can Contact / WhatsApp us on the following numbers for further assistance: CA Manish Mahajan : ☎️ 7888695588, Concepts Commerce Academy Email: [email protected] Our website: https://conceptsacademy.in/ Like us on Facebook -   / conceptscommerceacademy   Follow us on Instagram -   / conceptscommerceacademy   Download our mobile learning App - https://play.google.com/store/apps/de... #finalaccountswithadjustments #balancesheet #positionstatement #profitandlossaccount #incomestatement #finalaccounts #financialstatements #tradingaccount #class11 #accounts