Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / pravin.kamble425@gmail.com
We must determine the question asked, it is clearely asked
that what is the entry for Cash received. In business point
of view the first way when we received the cash either
selling some goods or servies to the customer, then other
ways can be, 1) borrowed from bank, 2)Borrowed from
Partner, etc.
So I believe the entry should be for first way of receiving
cash is..
Cash A/c ......................Dr.
To Goods sold / Party A/C .....Cr.
Since Cash is the real a/c, so real a/c rule is debit what
comes in & credit what goes out. So according to this rule
the above entry should be passed. So in this way we must
debit the cash a/c when we actually receive the cash &
credit to next concern a/c for which transaction you
received the cash.
| Is This Answer Correct ? | 19 Yes | 3 No |
Post New Answer View All Answers
Time limit for payment of divident for listed limited companies & Unlisted public limited companies are? 30 or 45 or 60 or 90
why only 6 months interest is charged on drawings
if no production is take place at the start of a process in royalty accounting what will be the accounting procedure for that.
Tell me what is accrual accounting?
A motor car purchased on 1 apr 10 worth rs 10000 taking a loan from bank of rs 8000. Emi will b 500 pm inclusive of interest rs 100 pm.all repayments are done by bank overdraft. Prepase bshEet & P&L as at 31 mar 10
Define trade bills?
shyam consigned 200000 unit @ rs 5/-each to mr ram and paid freight and insurance amounting to rs 100000.ram spent further following amount: 1) insurance rs 5000 2) godown rent rs 4000 3) clearing rs 6000 2000 unit were damages during transits due to heavy rains. Ram sold 100000 unit @rs 10 per unit . ram realisec solvage value of damage unit rs .2000 ram is get 5% commission on sale determine the abnormal loss?
Define each Flexfeild qualifiers (natural accounts, balancing acc., secondary tracking, cost center)
In accounting equation what is the treatment of investment in shares??
How create the invoices?
how to calculate forefeiture of share when over subcription
What is the dual aspect concept?
how to pass interest on security entries and salary payable entries in tally and how to maintain e-commerce company account please revert me ASAP its needful for me
how go make jaggery sales and purchace bill in tally 7.2,jaggery lumbs comes in different weight not fixxed weight and i want stock in lumbs and bill amount in rupees (exp.lumbs/weight/rate/amount-1000/102.50/2500/256250)
can we adjust margin money paid to bank to open a Bank Guarantee in stock statement while calculating Drawing Power
