Question

List h shows _____ account

Answer 1

Answer:

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Happy rabbits practice a cute behavior known as a “binky:” they jump up in the air and twist and spin around! A baby rabbit is called a kit, a female is called a doe, and a male is a buck. A group of rabbits is called a herd. Rabbits are herbivores, eating a diet entirely of grasses and other plants.

Explanation:

Answer 2

Answer:

A deficiency account is created to show the balance sheet or financial statement of a financially unstable enterprises or company. Detailed answer. It usually has the values associated with the total value of the assets. It also indicates and shows the cause of the difficulty and net losses that the enterprises has.

Explanation:

Insolvency Accounts

Under the Presidency Towns Insolvency Act, insolvent has to submit following documents to the court of law −

• Statement of Affairs as on date of order and
• Deficiency Account.

List ‘H’ – Deficiency or Surplus Account:

• The period covered by this Account must commence on a date not less than 3 years before the date of the winding-up order (or the order appointing Provisional Liquidator, or the date directed by Official Liquidator) or, if the Company has not been incorporated for the whole of that period, the date of formation of the Company, unless the Official Liquidator otherwise agrees.
• it is clear that debit side of the deficiency account shows capital account and credit side of the deficiency accounts shows losses and drawing and the difference of two sides is a deficiency as shown in the Statement of affairs Account.