someone wants to transfer money from their accont to mine
that was lift to them by their father who is now dead
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Answer / praveen
The things to be checked here is:
Do I know that person(or his father) who wants to transfer
money...?
If,that was a liability of his father..then its ok..
and if not...then
must probe it to the bottom for reasons because no body will
transfer his money to another person's account without any
reason...
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DEAR ALL, HOW TO ACCOUNT THE SALARY ADVANCE A/c. I HAVE TAKEN AN ADVANCE OF Rs.25000/-. I HAVE DEBITED SALARIES ADVANCE A/c AND CREDITED THE PETTY CASH A/c in TALLY. I dont't know whether it is correct or not. If correct, in my individual ledger no entry is reflected. Alternatively, if I debit my self and credit petty cash a/c it is reflected in the P & L Account, but it is not an expense. and not reflected in the balance sheet, but reflected in P & L. I think I need to put a journal entry. Like debiting the salary account and crediting the salary advance account. Is this correct or not? Can any one help me please. my mail add: cdvijay100@yahoo.co.in or kmlnkml@live.com
why all the people prepared balance sheet like liabilities and assets ? why not we prepared like assets and liabilities
what is the journal entry for tax refund?
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