Question { Genpact, 10055 }

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

Answer

(if t.v. add in goods)

purchase A/c xxx
Cash A/c xxx (cost of purchase 10 t.v)

damage A/c xxx
purchase a/c (cost of damage t.v)

(if t.v. add in fixed assets)

t.v a/c xxx
cash a/c xxx (cost of 10 t.v.)

losses from damage a/c xxx
t.v. a.c xxx (cost of 1 t.v. & Damages t.v)

Question { Genpact, 10055 }

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

Answer

when t. v purchased

purchase a/c dr
(amount of 10 t.v)

to cash a/c


after purchased of t.v

loss by damage a/c dr
(damaged t.v amount)

to purchased a/c



if t.v =fixed assest


fixed assest (t.v) a/c dr
to cash a/c

loss by demage (t.v) a/c dr
to fixed assest a/c

Question { 7457 }

what diff. between laibilities and provision?

Answer

provision covered liabilities while liabilities not covered
provisions

Question { 9363 }

What is the diffrence between Suspense a/c and imprest a/c

Answer

imprest a/c means recoverable advance while suspense a/c
means unrecoverable amount