O2C cycle with which accounts get effected

Question Posted / kunal.tex

2 Answers
8801 Views
Meru Cabs, I also Faced
E-Mail Answers

Answers were Sorted based on User's Feedback

O2C cycle with which accounts get effected..

Answer / barodianbuddy(acca)

Sales order creation No entries

Pick release:
Inventory Stage A/c Debit
Inventory Finished goods a/c Credit
Ship confirm:
Cogs A/c Debit
Inventory Organization a/c Credit

Receviable:
Receviable A/c Debit
Revenue A/c Credit
Tax Credit
Freight Credit

Cash:
Cash A/c Dr Debit
Receivable A/c Credit

Is This Answer Correct ?

2 Yes

0 No

O2C cycle with which accounts get effected..

Answer / manojthakur

CYCLE IS KIND OF FIXED ASSET AND IT IS CONSIDERED INTO THE
FIXED ASSETS AND ALSO DEPRECIATION ACCOUNT IS EFFECTED AT THE
END OF YEAR AS DEPRECIATE VALUE ACCOUNTED.

Is This Answer Correct ?

2 Yes

3 No

Post New Answer

More Accounting General Interview Questions

IF WE PURCHASE TV FOR PERSONEL THEN WE DIDNT RAISE PURCHASE ORDER WHY ?

3 Answers Accenture,

While finalizing the current year’s profit, the company realized that there was an error in the valuation of closing stock of the previous year. In the previous year, closing stock was valued more by Rs.50,000. As a result (a) Previous year’s profit is overstated and current year’s profit is also overstated (b) Previous year’s profit is understated and current year’s profit is overstated (c) Previous year’s profit is understated and current year’s profit is also understated (d) Previous year’s profit is overstated and current year’s profit is understated

0 Answers

what is forex management?

2 Answers

what is the method deposit of wct in Delhi

0 Answers

why current ratio is 2:1.why it is not 100:1,10:1,20:1 in current ratio. please tell me....

8 Answers Thomson Reuters,

what is "goodwill" reserve and surplus and reserve with example

0 Answers

What is the meaning of Stock valuation, and how ?

2 Answers

When does the Invoice price variance arise? What is the accounting entry?