Interested to Buy Any Domain ? << Click Here >> for more details...
1. A firm buys stock for $100 by cheque and intends to
sell it for $200, so the double entry should be
a) Debit bank $100 and credit stock $ 100
b) Credit bank $ 200 and debit stock $ 200
c) Debit purchases $100 and credit sales $ 200
d) Debit purchases $ 100 and credit bank $ 100
- 3 Answers
- 9145 Views
- FactSet Systems, I also Faced
- E-Mail Answers
Answer Posted / baddam.venugopalreddy
purchases $ 100.....a\c
to bank $ 100
BECAUSE THEY INTENDS TO SELL, BUT THEY HASN'T SELL YET..
WE CAN WRITE ENTRY WHEN THE TRANSACTION IS MADE..
| Is This Answer Correct ? | 28 Yes | 1 No |
Post New Answer View All Answers
helo sir, i want to know the writen exam pattern for finance and accounts ang general apptitude test of ongc.
Hello Everbody....this saturday i attended the interview of times job fair...were capgemini has called me for technical round ..I am bcom graduate with tally an SAP FICO....Can any body help me ... I wan to know what is this technical round...An what they may ask me ......if any body have question an answer kindly send to my id ..that is damudi123@yahoo.com....or contact me to my number ..+919900410314.Or any body have friends working in capgemini bangalore?Please i need urgent help...thnak you with regards adnan hasan
how many schedules are there in accounting?
closing stock at the end is comprised of %a purchase price of $60000,10% discount and 15% import duty.The stock can be sold for $70000 after incurring costs of $1950.Included in the purchase price is abnormal wastage of $2000.Transportation costs are $1000 and storage costs are $500,what is the value of the closing stock?
why do u want to join bpo sector
Who to create a budget on software company
how can i make configration relation with inflation in sap
Why it is necessary to use SAP in an industry? & What is the difference from other advance accounts software like Tally ERP 9? What is the importance of using GAAP for best management decission or why GAAP using by Top Management?
Dear All, Could any body send me the format of Delivery Challan? What is Even Transfer and Branch Transfer?Please let me know if any body knows? ekathirvel@gmail.com
What is contract accounting?
What do you define in customizing for the payment program? FBZP (Any 2 Answer) • Bank subaccount ( BANK DETRMINATION SCREEN. ACCOUNTS) • Forms of the payment media ( PAYING COMPANY CODE) • Available amount (BANK DETERMINATION, AMOUNTS) • Assignments for the profit center • Prerequisites for the debit balance check
Expand----------MTSC
please explain the uses of internate protocol address(ip add)?
Short Answer on ___________fluctuating capital
while doing work in dolphin software when credit note is given by supplier to purchaser then purchaser is debited supplier account so on credit side which account is coming which account should be credited
