Answer Posted / max

Entry from the Issuing Party Debit Credit
Accounts Payable - ABC 20,000.00
Cash in Bank 20,000.00
To record payment to ABC

Purchased Discount 2,000.00
Miscellaneous Income 2,000.00
To record discount received upon payment

ABC Party Entry
1.Cash 20,000.00
Accounts Receivable 20,000.00
To record Cheque Collection

2.Sales Discount 2,000.00
Cash 2,000.00
To record cash payment of Sales Discount
3. Accounts Receivable 20,000.00
Cash 18,000.00
SAles Discount 2,000.00
Cheque collection uncleared at Bank

1)What is E-1 Sales (Sales in Transit) Full Guidence From Issue to receipient. 2) What is F Form How Are procedure

1840

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WHAT IS THE PORTFOLIO MANAGMENT SCHEMES ? ITS WHICH TYPES INCOME ?

1900

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The claim recoverable has been settled with the insurance company for 2000.what is the actual stock lost value? Please give me in calculation.

1617

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explain me what steps would you take to increase revenue for this company?

1006

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I am a Leaving Cert Student. From Solutions to exam questions etc. I know what to do with the following adjustment but I cannot explain why. A thypical Adjustment is: A building is acquired for €60000 plus VAT at 10%. The amount paid to the Vendor was entered in the Buildings Account. No entry made in the VAT account. Could you explain why the VAT amount is deducted from the VAT amount in the TB? And why it is sometimes an Asset in the BS. Thank you, Mary

1825

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PLEASE CLEARLY EXPLAIN WHAT IS MEANT BY TDS,CST,ADVANCE TAX,PF,PT,ESI.CLEARLY AS IF EXPLAINING TO LAY MAN

2601

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What are accounting rules called?

1062

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the selling price of a prouduct of vintex limited inclusive of basic excise duty 16% and education cess 2% and SAH cess 1% is rs 3002. find the assessable unit of prouduct?

3098

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One car company raised an invoice of 30k to its customer, which includes car's price and one year service price of 1600 (cost). They work on 25% margin. How much amount will go to Income statement and B/S?

2691

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a company recive 5 demand draft in different parties 2 DD sumittted to bank for collection and it's collected. what is the closing entry of other 3 DD in the company on that date?

1788

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Tell me what is the master account?

1150

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Tell me as a higher position in the accounting department, you will be responsible for overseeing other employees' accounts. What experience do you have in leadership and management that will prepare you for this responsibility?

981

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Explain the types of ledger?

4044

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What are accounting entities?

1018

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when receieve cheque from a party and we deposite cheque in bank how do this entry

5159

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