Answer Posted / h.r. sreepada bhagi

Accrued expenses refers to the expenses incurred or related
to a particular accounting period but paid for want of
bills. For example telephone for March, 2010, bill not
received in that month (due in the next month) & hence not paid.
Accrued Income refers to the income related to a particular
accounting period but not received

Both the accrued income & expense should be taken in to the
Profit & Loss Account of the period to which it relates.
Accrued income is receivable when it becomes due & likewise
accrued expense is payable when they become due.
When the money is received or paid, it will be entered to
Cash or Bank A/c & Customer's, Creditors or the outstanding
liabilities a/c as the case may be.

How do you maintain accounting accuracy?

1117

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What is the diffrent job&project accounting?

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how will you adjust voluntary seperation payment in cash flow statement

2096

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Why Is The Distinction Between Product Costs And Period Costs Important?

1067

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Explain me by saying, perpetual or periodic inventory system; what do we mean?

1156

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What entry to be passed for Duty draw back as receivable

1935

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can i material bill book in miro without vat on transport charges ?

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List the type of transactions entered in journal proper.

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Interest received 5,000 and still receivable Rs. 2,000 PLease give journal entry for this!

1489

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X draws a bill on Y for Rs 20,000 for 3 months on 1.1.05. The bill is discounted with banker at a charge of Rs 100. At maturity the bill return dishonoured. In the books of X, for dishonour, the bank account will be credited by Rs. (a) 19,900 (b) 20,000 (c) 20,100 (d) 19,800

3586

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Explain the meaning of long-term notes payable is or long term liabilities?

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Define balancing in accounting?

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Tell me in balance sheet, where do you show tds?

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how to caluclate tds from emloyees and others

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