Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / pradeep
cash discount is an discount given by the suppliers to the purchaser,when purchaser have ready to pay full amount of credit purchase money at single time.
e.g:- a purchaser have to pay 1000 Rs to his supplier with in 1 month(1-01-2000 to 31-01-2000). but purchaser ready to pay that amount in 15-01-2000.so because of his early payment supplier his ready to give cash discount of 100 Rs to purchaser.
Journal entry:
Supplier a/c Dr 900
Cash discount a/c Dr 100
To cash a/c 1000
| Is This Answer Correct ? | 10 Yes | 5 No |
Post New Answer View All Answers
What do we mean by purchase return in accounting?
My company was granted a bank facility of 750,000 for guarantee, performance bond, advance payment, retention guarantee and 100,000 bank overdraft. These facility amount was never added to the company account. a. What is the entry? b. Lien over fixed deposit for 50,000 to be brought upfront c. Lien over gradual buildup for fixed deposit 50,000 by transferring 10,000 monthly from customer's account to separate call account. d. After a month, we had an overdraft of 22,000. What will be my entry? e. After 3 months, we have a construction project and was asked for advance payment of 24,000 with a 25% margin? f. Another company asked for performance bond of 44,200 with 25% margin.
consultancy charges receivable Rs 30000 from abc & co. tds receivable 3000
What is an interest rate swap
If we started new project of Housing with Construction linked payment plan . How can booked our revenue or Sales .
WHAT ARE THE LIMITATIONS FACING ACCOUNT CONCEPTS AND CONVENTIONS?
what do you maen by Expected rate of return ? Is there any formula for expected rate of return? what is systematic & unsystematic risk ? how to calculate both the risk?
Particulars Dr Cr Capital 10,000 Machinery 3000 debit 2500 1400 sales - 14,500 drawings 900 purchase 9500 wages 5000 bank 1500 Opening balance 2000 rent 450 salary 200 carriage 150 total ___________ _________ 25,900 25,900 ____________ ________ how to find closing stock as on 31st dec,1998. wages outstanding 200/- sunnery expenses outstanding 100/- rent prepaid 100/-
Tell us do you have any idea about service tax or excise?
Definition of push down accounting
Tell me what a deferred asset is and give an example?
we can transfer stock between two firms with same name but prop. is different.
What is the difference between depreciation and amortization?
is WCT aplicable on educational institutions also??????
Explain the types of ledger?
