Goods Balance Sheet –
Station Balance Sheet is a monthly return prepared in prescribed proforma for submission to traffic accounts office. This is divided into two parts - left side is known as ‘Debit side’ and right side is known as ‘Credit side’. Balance sheet can also be termed as personal account of the Station Master.
Debit side indicates the responsibility of Station Master under the heads Opening balance, Current debits and Special debits. Responsibilities are entered separately for each type of transaction. The Credit side indicates the discharge of liability of the station under the head Cash, cash vouchers and special credits. Special credit means credit taken on the basis of Credit Advice note, Remission Order etc. In addition the closing balance is also indicated on the credit side, which indicates the uncleared liability of the station at the end of the month. The closing balance is also termed as Station Outstanding.
The debit and the Credit side are totaled up, which should be equal. Balance Sheet prepared for Goods Traffic is known as Goods balance Sheet. This is to be submitted to traffic Accounts Office on or before 5th of the following month.
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The balance sheet of a bank shows the assets, liabilities, and capital of the bank. The assets of the bank are made up of cash, securities, and loans. The liabilities of the bank are made up of deposits and capital. The capital of the bank is made up of shareholders' equity and subordinated debt.
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You could be left with a credit balance in accounts receivable for many different reasons. For example, it could be because the customer has overpaid due to an error in your original invoice or because they’ve accidentally duplicated payment.
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