Answer Posted / lakshman001

In an Current Account, interest is calculated on the amount of a bill from the date of transaction to the
closing date of the period concerned. In case the due date of the bill falls after the closing date of the
account, then no interest is allowed for that period. However, it is customarily followed that interest from the
date of closing to the due date is written in red ink in the appropriate side of the Account Current. This
interest is called Red-Ink Interest. This Red-Ink interest is treated as negative interest.

what is the entry of credit card received excess amount entry in tally and their under group names

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i am indrani,iam siting for a/c assistance post of muthoot finance..so my question is what kind of question they may ask related to a/c or finance?or other than subject what question can be asked like why do u want to join this co etc.. ?

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Is buy or sale trade will impact on Nov? Yes/No Please explain.

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What do you mean by ledger posting?

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What is accounting & why it is used?

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What are the rules for debit and credit for different accounts to increase the amount in your business accounts?

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What is accrual accounting?

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What is the formula for acid test ratio in accounting?

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Anti Takeover policies

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whether allowances will be included in calculating esi from gross salary

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Hi Everybody, Can anybody tell me how to create ledger in Peachtree Accounting software, means there are some Code, which Codes Comes under which ledger Account.your prompt Answer will be highly appreciated, Thanks & regards, Khan

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Explain the term account payable?

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Who is considered the father of accounting?

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In which book we can learn in detail of closing stock valuation. And if any site is available kindly help.

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can we change date in tally.erp s/w in educational mode ?

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