Interested to Buy Any Domain ? << Click Here >> for more details...
why sales amount comes in Credit Side in Trial Balance ?.
Please give me Explanation
Why Purchase amount comes in Debit side in Trial Balance ?.
Please give me explanation.
- 1 Answers
- 6394 Views
- I also Faced
- E-Mail Answers
Answer Posted / vasudevan
purchase made expenses so the rule applicable for debit the expenses so we can debit
sales made income so the applicable for credit the income so we can credit.
if any suggestion pls contact at my id vasudevanm.com@rediffmail.com
| Is This Answer Correct ? | 5 Yes | 3 No |
Post New Answer View All Answers
A firm had the following Balances on 1 January 1994: (i) Provision for bad and doubtful debts Rs 2,500 (ii) Provision for discounts on debtors Rs 1,200 (iii) Provision for discounts on creditors Rs 1,000 During the year, bad debts amounted to Rs 2,000, discounts allowed were Rs 100 and discounts received were Rs 200. During 1995 bad debts amounting to Rs l,000 were written off while discounts allowed and received were Rs 2,000 and Rs 5,000 respectively. Total debtors on 31 December, 1995 were Rs 48,000 before writing off bad debts, but after allowing discounts. On 31 December, 1995, this amount was Rs 19,000 after writing off the bad debts, but before allowing discounts. Total creditors on these two dates were Rs 20,000 and Rs 25,000 respectively. It is the firm’s policy to maintain a provision of 5% against bad and doubtful debts and 2% for discount on debtors and a provisions of 3% for discount on creditors. Show the accounts relating to provisions on debtors and provisions on creditors for the year 1994 and 1995.
Explain the Invoice verification process
What is journal entry for salary paid less deductions (e.g. fines for breaking a company's property)?
How much mathematics knowledge is necessary or required in accounting?
Why are accounting standards necessary?
What are the effects when intangibles and tangible assests decrease
What are the columns of a journal?
What are control ledgers? What are the purposes of maintaining it?
what's the mean by Imprest system? Please give me Replay on this no. 9885789716
what is windows dressing final accounts?,sales a/c belongs to which a/c type?
Tell me what is the difference between accumulated depreciation and depreciation expense?
give 3 reasons why capital is referred to as a special liability
Cheque rs 1400 received from Charles in settlement of a debit of rs 1500 returned dishonored
How calculate holding company account?
Capital secure should be shown in which side of the balance sheet?
