Answer Posted / pavithra
There are 2 types of invoices
Purchase invoice and
Sale invoice
| Is This Answer Correct ? | 36 Yes | 8 No |
Post New Answer View All Answers
Tell me why some asset accounts have a credit balance?
Where should tds received should show in balance sheet?
What are the differences between accounting and auditing?
Contrast bookkeeping and accounting
Do you know retail banking?
Mention why some asset accounts have a credit balance?
Explain what is gaap?
pass the journal as wellas ledger entries off the foll 1st jan :> started businress with cash rs 1,20,000 & goods worth rs 60,000. 2nd jan > cash purchases rs 50,000. 4th jan >cash sales rs 40,000. 6th jan > purchase good's from sonali on credit worth rs 30,000 at 10 % trade discount. 8th jan> sold sood's to komal on credit rs 20,000 at 10% trade discount. 10th jan > paid rent by a cheque rs 50,000. 12th jan > good's worth rs 4,000 lossed by fire. 14th jan > good's worth rs 3,000 withdrawn from business for personal use. 16th jan > good's worth rs 2,000 distributed as free samples. 18th jan > good's worth rs 1,000 exchange for furniture.
What's the accounting entry when an Invoice is created in AR?
"Trial Balance is not a comclusive proof of the accuracy of the books of accounts." Explain this statement and describe the errors which are not disclosed inspite of the agreement of trial balance.
Please help me with the accounts head for the below ledgers for e.g. for Salary A\c - Indirect Expenses is the account head in tally. what is the account head for below ledgers. Salary A/c Dr. xxx To EPF Payable (employees' contribution only) xx To ESI Payable (employees' contribution only) xx To PT Payable (deducted from employees only) xx To TDS Payable (if deducted from employees' only) xx To Salary Payable (net amount only) xxx Salary A/c Dr. xxx To EPF Payable (employees' contribution only) xx To ESI Payable (employees' contribution only) xx To PT Payable (deducted from employees only) xx To TDS Payable (if deducted from employees' only) xx To Salary Payable (net amount only) xxx Salary Payable A/c Dr. xxx To Cash / Bank A/c xxx
What is double-entry accounting? Explain with an example?
Define overhead in terms of accounting?
What is the purpose of a balance sheet?
what is the accounting treatment in tally of free goods received with goods purchased.