42. G.Simkins sends back stock to J.J. Fabrics (a
supplier), having originally purchased it on Credit. J.J.
fabrics issued a Credit note for the value of these goods.
In simkins’ books, the double entry for this transaction
should be.
a) Debit : J.J. Fabrics; Credit purchases
b) Debit : purchases; credit J.J. Fabrics
c) Debit : J.J. Fabrics; credit purchase returns
d) Debit: purchases returns; credit J.J Fabrics.

Answers were Sorted based on User's Feedback



42. G.Simkins sends back stock to J.J. Fabrics (a supplier), having originally purchased it on Cre..

Answer / naresh

ans b) and c) Because
According to above information :-Simkin - AS A CUSTOMER &
J.J.Fabrisa - AS A SUPPLIER (Sundry Creditor)

Simkins' A/c 1) Purchase j.k.fabrics
Dr cr

2) Purchase Rtn J.K.Fabrics
cr dr

J.J.Fabrics A/c 1) Purchase A/c Simkin
cr dr

2) Purchase Rtn Simkin
dr cr

Is This Answer Correct ?    6 Yes 0 No

42. G.Simkins sends back stock to J.J. Fabrics (a supplier), having originally purchased it on Cre..

Answer / rohit_allinterview

int reverse(int num)
{
int temp,num2=0;
printf("Original number is %d",num);
while(num!=0)
{
temp=num%10;
num=num-temp;
num=num/10;

num2=num2+temp;
num2=num2*10;
}

num=num2/10;
printf("Reversed Number is %d",num);
}

// Incase of any mistake or doubt plz drop mailto
rohit_vit2020@yahoo.co.in

Is This Answer Correct ?    0 Yes 3 No

Post New Answer

More Accounting AllOther Interview Questions

Expand---------EDP

0 Answers  


what is debentures, types of debentures

16 Answers   Capital IQ, Genpact,


What is the Capitalmarket and speech 10 min in capital market? What is Mean by Share,Dividend,mutualfund, detail answer? details of Share market? What is mean by nav & npv over all finance related interview question?

1 Answers   TCS,


Expand C C A

1 Answers  


Expand-------ANTS

0 Answers  






what are the new rules of central excise ?

0 Answers   Apollo,


i engaged with the accounts of manufacturing concern, i have a question when we purchased a fixed assets and after this we put the fuel in this for trial then this fuel is our also capital exp

1 Answers  


What is the treatment for PRELIMINARY EXPENSES?

27 Answers   Capital IQ, Franklin Templeton,


You use the accounts approach for parallel valuation in a new G/L system. If you used the ledger approach instead. Which objects would be different? ( any 3 answer) Chart of accounts Financial statement version Depreciation areas Asset classes Leading ledger

0 Answers   IBM,


what are the concepts & conventions of accounting?

4 Answers  


What are the source of gaining long-term funds???? What are the limitations of gaining long-term funds???

2 Answers  


expand------SSRT

1 Answers  


Categories