What is the entry for Discount Received? & What is the
entry for discount paid?
- 13 Answers
- 62459 Views
- Azizi Bank, i4 Mobiles, WNS, I also Faced
- E-Mail Answers
Answer Posted / khazi raza mohammed
Entry for discount received
Cash a/c Dr xxxx
to discount received xxxx
(credit all incomes and gains)
Entry for Discount paid,
Discount paid a/c Dr xxxx
to Cash xxxx
(Debit all expenses and losses)
nominal rule applies.
| Is This Answer Correct ? | 23 Yes | 5 No |
Post New Answer View All Answers
Why have you applied to our firm?
Please help me with the accounts head for the below ledgers for e.g. for Salary A\c - Indirect Expenses is the account head in tally. what is the account head for below ledgers. Salary A/c Dr. xxx To EPF Payable (employees' contribution only) xx To ESI Payable (employees' contribution only) xx To PT Payable (deducted from employees only) xx To TDS Payable (if deducted from employees' only) xx To Salary Payable (net amount only) xxx Salary A/c Dr. xxx To EPF Payable (employees' contribution only) xx To ESI Payable (employees' contribution only) xx To PT Payable (deducted from employees only) xx To TDS Payable (if deducted from employees' only) xx To Salary Payable (net amount only) xxx Salary Payable A/c Dr. xxx To Cash / Bank A/c xxx
can we adjust margin money paid to bank to open a Bank Guarantee in stock statement while calculating Drawing Power
why assets are shown at their historical cost price but not at their current price bcoz we are following historical cost concept. but this will not reveal correct financial position of the business.give reason
What is the difference between perpetual & periodic inventory system?
what is ment by suspence account and dummy account
what is special purpose ledger in SAP.. is it required to configure in ECC 6.0 since New GL concept is active?
What are the nine accounting cycles?
What is an operative accounts?
What is accounting chart of accounts?
What is the definition of accounting?
rents part of its building for a monthly fee of $1,250. The rent for the month just past has not been received.
Define dual aspect term in accounting?
Journalise- opened a saving a/c with S.B.I. ?
Can a company deduct TDS & provide TDS certificate for a bill without actually making payment towards the same??
