Answer / priyul

Account Receivables means sundry debtors.
Account Payable means sundry creditors.

Account Receivables : We have sold some goods & payment is
outstanding.

Accounts Payable : We have purchased goods & we have not
made payment yet.

Answer / ravi ahuja

Accounts payable is the obligation that a business owes to
its creditors for buying goods or services. It is the
unpaid invoices, bills, or statements for goods or services
rendered by outside contractors, vendors or suppliers.
Accounts payable are sometimes referred to as "payables."
When someone pays his or her monthly utility, phone, cable
tv bills, or Internet service provider (ISP) bills, he or
she is in a sense paying off his or her accounts payable
obligations.

Tell me in accounting, vat abbreviates what?

0 Answers  

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Your grandfather is 75 years old. He has total savings of Rs.80,000. He expects that he live for another 10 years and will like to spend his savings by then. He places his savings into a bank account earning 10 per cent annually. He will draw equal amount each year- the first withdrawal occurring one year from now in such a way that his account balance becomes zero at the end of 10 years. How much will be his annual withdrawal?

0 Answers  

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could you please tell me what CRR & SLR?

1 Answers   Wipro,

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give me some simple examples of personal account, real account, nominal account

2 Answers   TATA,

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paid vendor to RS 15000 and incentives of RS.5000 and deducted Rs.3000 as penalty so finally paid to vendor is Rs.17000. please let me know the journal entry for this.

0 Answers   Real Group Of Companies,

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if we are purchase on vat tax and sales tax can do tds?

4 Answers  

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purchases goosd in cash rupees 6500

2 Answers   TCS,

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A firm had the following Balances on 1 January 1994: (i) Provision for bad and doubtful debts Rs 2,500 (ii) Provision for discounts on debtors Rs 1,200 (iii) Provision for discounts on creditors Rs 1,000 During the year, bad debts amounted to Rs 2,000, discounts allowed were Rs 100 and discounts received were Rs 200. During 1995 bad debts amounting to Rs l,000 were written off while discounts allowed and received were Rs 2,000 and Rs 5,000 respectively. Total debtors on 31 December, 1995 were Rs 48,000 before writing off bad debts, but after allowing discounts. On 31 December, 1995, this amount was Rs 19,000 after writing off the bad debts, but before allowing discounts. Total creditors on these two dates were Rs 20,000 and Rs 25,000 respectively. It is the firm’s policy to maintain a provision of 5% against bad and doubtful debts and 2% for discount on debtors and a provisions of 3% for discount on creditors. Show the accounts relating to provisions on debtors and provisions on creditors for the year 1994 and 1995.

0 Answers  

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What is Tally

1 Answers  

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what is accounting concept? explian in brief?

9 Answers   Capital IQ, Hero Honda,

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Entry Tax is Central Income or State Income. Which Challan this tax deposited ? In Sale Tax Return which column is shown this tax

0 Answers  

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10 tv's purchased from x- company for cash out of that one tv is damaged what is the entry we done in tally?

7 Answers   Genpact,

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