What Is The Genral Accounting Give Me Details

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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.

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what is depreciation and methods mostly used

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is provident fund is liability or indirect expenses for employer???

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what is basic difference between accounting and finance

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As a Manufacturer we are paying service Tax on Inwards freight and the same amount we are taking as a credit against payment of Excise duty. So,Pls clarify how to pass JV

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What is invoice processing can u explain it?

0 Answers   Accenture,

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Accounting periode is normaly one year, bot accounting periode is for 5 year is possible or not?plz list the name of organistaion whose accounting periode is 5 year

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Why do you prepare a P/L Appropriation a/c?

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what is the relationship between bookkeeping and accounting?

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Give Journal Entry for "Interest Received from Bank" and give description with Accounting rules

27 Answers   ABC, GEE, Genpact,

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Tell me do you have any idea about service tax or excise?

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