general entry for credit purchases, credit sales, golden
rules of accounting,what is contribution.
- 11 Answers
- 20955 Views
- Genpact, LG, I also Faced
- E-Mail Answers
Answer Posted / pradeep gunuguntla
Purchases A/c ... Dr
To Accounts Payable A/C
Accounts Receivable A/C
To Sales A/c
Personal A/C: Debit the Receiver
Credit the giver
Real A/c: Debit what comes in
Credit what goes out
Nominal A/c: Debit Expences & losses
Credit Incomes & gains
| Is This Answer Correct ? | 21 Yes | 3 No |
Post New Answer View All Answers
April-25 Paid to Mr. Y in full Settlement by Cheque Rs. 4800. April-26 Received a cheque from Mr. B in full settlement Rs. 4900.
Tell me about a situation where you showed determination?
HI, i was given only 1st round and i made it through the first round, then was sent for the final HR round.In the HR round the HR manager dint ask me a single question of the related job,all he asked was as following:- i)what are your salary Expectations ii)are you ok to do night shifts.then he thanked me and said he will let me know by 2 days,when i asked him for any feedbacks and suggestions he said that he will let me know only after 2 days.SO please help me what shall i expect from this one of a kind interview. Many thanks in advance.
What is a trial balance in accounting?
My question is on Opening & Closing Stock Suppose Closing stock of 2014-15 is Rs 30 lakhs & Also we filed return & ROC too for 2014-15. Opening stock for 2015-16 should be Rs 30 lakhs but we found that some purchase for feb & March 2015 Stock has been entered in tally Its taken directly to purchase split of stock not made & in sales to same of 2 lakhs no split of stock is shown. Those stock need to make changes in 2015-16 what was the process ? And what will be adjustment entry ?
What would be the entry at the time of Generating Tution Fee Challan for Advance fees. (e.g In the Month of April, Fees of June and July in being asked to pay by school to their students?,
SHADOW BALANCE SHEET
hi for all i completed Mba finance in 2008.then i got a job in kpo capital iq as jra for 1 year than i left it and done a course sap fico so now looking for a job in sap how to approach? pls give me answer
What is reversing journal entries?
Mobile on Rupees 2000 purchase for office use not for staff....What entry in accounts..?????
What are mis reports and do you prepare it?
Tell me did you use accounting applications at your previous companies or prefer working manually?
Please help me in this entries Pass accounting entries for the following transaction in the books of XYZ company. A rendered professional service to company XYZ and sent an invoice dated 01/01/2016 for Rs 1,00,000/- + service tax Q1. Pass journal entry for the invoice received considering the service tax and TDS. Q2. Payment was made on 01/02/2016 by cheque. Pass payment entry.
Explain how you can adjust entries into account?
Tell me how can you explain the basic accounting equation?
