sir if we make purchase and sale for the same pary for the
same amount what adjusting entry have to be passed to close
that entry in tally. while taking bill wise details we can
see the dr. cr.and have to cancell that
Answer Posted / jaikrishnansnair
purchase ac dr 1000
to party 1000
party dr 1000
to sales 1000
jv
sales dr
to purchase
is it true or not.. ??
Is This Answer Correct ? | 3 Yes | 13 No |
Post New Answer View All Answers
Do you know partitioning in accounting?
Spinoff,Spelloff
How to calculate Gratuity & when it's applicable to employee after three years or Five years?...
Tell me what is the general classification of accounts that usually ledger account involve?
WHERE WE CAN USE VAT 5%,14.5%
Do you know compound journal entry?
I have 4 four category of emplies say Admn/Markting/Procurment/Production and the employees of thee category have there bank accounts in 5 or six different banks. How can i generate Payroll advice for the employees having account in A Or B OR C Or D falling under above category
is it related to b.com syllabus or puc syllabus
A non-function currency claim:- Employee while updating a non functional currency claim the system uses the period end rate i.e. any claim pertaining to the period 01Aug - 25th Aug. the system uses the period end rate as of July 31st. (2) Also, what is the basis of using the period end rate not the average rate for expenses claim. Can you please clarify my question.
Explain me by saying, perpetual or periodic inventory system; what do we mean?
when & how interest on unsecured loan is calculated?
In Service tax Return ST-3 What is meaning of first Row (i) Service tax payable (a) Gross amount received in money (I) Against service provided Pls explain in detail
The following transactions relating to ABC Ltd for the month of 20x1 a) Services performed in relation to income recieved in advance total $1500 b)Supplies expense includes $400 of supplies that are still on hand at 30 June c)Interest accrued on the bank loan is 750 d)At the end of june paid rent for 3 months (June, july Aug) $6000 e)Credit sales for the month of June 2009 amounted to $50000. Past expierence shows that around 1.5% of net credit sales are written off as bad debts. XYZ ltd, previously notified ABC ltd that they have gone bankrupt, will be able to pay $1000, which was recieved at the end of the month. The provision of doubtful debt has an opening balance of $800. f) The owners of ABC Ltd wish to revise the balance of the provision of doubtful debts account to $3500. g) Depreciation of one year on the delivary van is $1500. h) On 30 June 2009, ABC Ltd sold an item of equipment for $40000 cash. The cost of equipment was $50000 and had a accumulated depreciation balance of $2000 REQUIRED: Prepare the relevant adjusting journal entries for the month of June 20x2
what s account
Sir, we have investment shares some company how to calculate gain/loss please send format brefly fifo, lifo and average method