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What is Debit Note & Credit Note?
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Answer / joginder singh
. A transaction that reduces Amounts Receivable from a
customer is a credit memo.For eg. The customer could return
damaged goods.
A debit memo is a transaction that reduces Amounts Payable
to a vendor because, you send damaged goods back to your
vendor
| Is This Answer Correct ? | 17 Yes | 1 No |
Debit Note - this note is prepared in order to debit a creditor.
Credit Note - this note is prepared in order to credit a debtor.
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / raju
debit mean -the good sent to the suplier when it is damaged the good on the transport or excess of good then call as debit
| Is This Answer Correct ? | 0 Yes | 1 No |
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Dear sir we are running a export enterprises and we are marchent and exporter we purchaige the goods from mahahrashtra /gujrat and many indian stats our iec cod is issue from varanasi and our firam is registerd from azamgarh utter pardesh kindly advise me can i purchige the goods from gujrat and send direct to port or shude we inter the goods in utter pardesh then we sent to port i m asking this question because our salse department is not issue form H kindly give me advise i m waiting for your for reply thanks and regards e mail id: burque786azm@yahoo.com javed
Mr. A purchased a machinery costing Rs. 1,00,000 on 1st October, 2005. Transportation and installation charges were incurred amounting Rs. 10,000 and Rs. 4,000 respectively. Dismantling charges of the old machine in place of which new machine was purchased amounted Rs. 10,000. Market value of the machine was estimated at Rs. 1,20,000 on 31st March 2006. While finalising the annual accounts, A values the machinery at Rs. 1,20,000 in his books. Which of the following concepts was violated by A? (a) Cost concept (b) Matching concept (c) Realisation concept (d) Periodicity concept.
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