Answer Posted / satyaki_raju@yahoo.com

All the above 4 answers are not clearly understandable and
the question itself is not clear.
Respected shiva kumar you forgot to mention the entry to be
passed in whose books of accounts.
In case of issuing party the entries will be
At the time of issuing cheque
Party a/c dr
To Bank a/c
At the moment of dishonour
Bank a/c dr
To Party a/c
It means the partys credit position remains the same
In case of receiving party
Bank a/c dr
To Debtor A/c
While at dishonour
Debtor a/c dr
To Bank a/c

outstanding expenses are the expenses that "unpaid"at the end of the accounting period e.g.salaries rent so they all come to under nominal accounts which is debt all expenses and losses and credit all gains since they are unpaid hence they must be credited

1913

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what is differred tax liability? explain in detail with some example.

2966

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Please do tell me about the questions which are asked at BACS FINAL ROUND.

2157

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Can u please give me example of bonds? is National savings certificate a Bond?

2829

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what about case study

2085

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What is DRA in bank reconciliation.

1941

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describe the most complex challenge that you have faced and how you managed it

2252

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Hello every one i'm going to interview for as an account profile company is construction works so plz guys help me about furthering interview question

2113

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sir, i am working recruitment con.pvt ltd inthat one person salary will pay per month Rs.28000/- so i want to enter in our books only one salary payment or basic pay and spl.aa and others like this break up entrys we will pass please suggest

2240

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outstanding expenses, prepaid or unexpired expenses

3996

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HI, FREINDS, I WANT TO KHOW IS THE CFP (CETICFIED FINANCIAL PLANNER) IS A GOOD COURSE, IS THEY ANY INSISTUTE IN HYDERABAD,IF ANY ONE DOING THIS COURSE PLEASE REPLY ME.

2337

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EXPAND______________ICT

1955

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i AM CURRENTLY DOING B.COM. i INTEND TO PURSUE MY MASTERS AT USA IN ECONOMICS AND FINANCE OR ACCOUNTING...CAN U TELL ME THE CRITERIA AND WHICH EXAM DO I NEED TO QUALIFY FOR???

1930

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Can i make invoice when my client apply for TIN Number ?

2119

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Raj & Raj Ltd purchased a machinery on 01.01.1996 for Rs.88,000.The life of the machine estimated to be 5 Yrs.It was calculated that the old machinery would fetch Rs.8000 at the end of its useful life.it was decided to replace the machinery at the end of the 5th year by setting up depreciation fund and invest the annual depreciation (along with interest earned each year) in gilt edged securities carrying interest at 5% p.a. At the end of the 5th Year the securities were sold for Rs.9000.As per the sinking fund table Rs.14,478 is to be invested every year.A new machine was purchased on 01.01.2001 for Rs.1,00,000.pass the journal entries and show the ledger accounts

1959

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