Subject:
AccountancyAuthor:
jaydinrochaCreated:
1 year agoAnswer:
There are two methods of keeping departmental accounts:
1)Independent Basis: In this method, accounts of each department are maintained separately. Each department prepares Trading and Profit and Loss Account. ...
2)Columnar Basis: ADVERTISEMENTS: In this method, there is a single set of books.
Author:
murphyvalenzuela
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10Answer:
There are two methods for departmental Accounting:
METHOD 1: WHEN SEPARATE SET OF BOOKS ARE KEPT FOR EACH DEPARTMENT
As per this method, each department is taken as an independent unit and it makes its own books of the accounts. This method is featured as:
METHOD 2: WHEN SEPARATE SET OF BOOKS ARE NOT MAINTAINED
As per this method, no separate records of each department is maintained, rather joint accounts are maintained of all departments. This method is featured as:
HOPE THIS HELPS <3.
Author:
matildedv1v
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13