Answer / sangeethag

Journal entries for receivable :

Debtors/Accounts receivable Dr. ****
To Sales ****

Next year payment entry would be
Cash/Bank Dr. ****
to Debtors ****

Journal entries for payable :

Expenses Dr. ****
To Creditors /Accounts payable ****

Next year payment entry would be
Creditors /Accounts payable Dr. ****
To Cash/Bank ****

Answer / sangameswar reddy

Journal entries for receivable :

Debtors/Accounts receivable Dr. ****
To Sales ****

Next year payment entry would be
Cash/Bank Dr. ****
to Debtors ****

Journal entries for payable :

Suppliers a/c /O/s Expenses Dr. ****
To Creditors /Accounts payable ****

Next year payment entry would be
Creditors /Accounts payable Dr. ****
To Cash/Bank ****

Answer / yogendra.c

Receivable:
1. Credit Sales Entry:
Debtors A/c Dr.
To Sales A/c

2. Receiving a Bill as per Negotiable Instrument Act,1981:
Bills Receivable A/c Dr.
To Debtors Account.

3. Receiving Payment (Next Year)
Bank A/c Dr.
To Bills Receivable Account

Payable:
1. Credit Purchase:
Purchases A/c Dr.
To Creditors A/c

2. Bills Payable Accepted (B.P Drawn by Creditor is Accepted)
Creditors A/c Dr.
To Bills Payable A/c

3. Payment Entry (On the due Date)
Bills Payable A/c Dr
To Bank Account.

what is the difference between accounts and finance ?

5 Answers   ABC, CA,

---

How to calculate excise duty?

4 Answers   Capital IQ,

---

what is factoring

1 Answers   Capital IQ, Pyroferus,

---

In a housing society accounting if a defaulter having dues consisting of principal amount and simple interest, pays a part amount whether the received amount should be adjusted first against the interest dues and accordingly reduce the balance principal dues or adjusted only against the principal amount, allowing outstanding simple interest to contineously increase/

0 Answers  

---

Sir, I want to know about Entry Tax. I purchased the Packing Box from other state.the entry tax on the packing items is 5 %.but now sale tax deptt. close the entry tax on barrier. the tax will be deposited with return. sir we want to know can i deposit this entry taxon on CST challan or not. if not then how can i deposit, or which cloumn in return shown this amount. please send the return format my mail ID is happynlg@gmail.com

0 Answers   HP,

---

ten example of direct income

1 Answers   Genpact, HCL,

---

how to calculate closing stock...? include direct exp or not... 

2 Answers  

---

examole of cash to cash contra entry

0 Answers  

---

Main sources have long-term finance ? Explain

1 Answers  

---

What Does Capacity Cost Mean?

1 Answers   Honeywell, JPMorgan Chase,

---

IS IT NECESSARY TO TRANSFER DATA FROM WTALLY9 TO EXCEL AND VISE VERSA?

3 Answers   Infosys,

---

what is the realtime work and process on provident fund(pf) as accountant?

1 Answers  

---