Interested to Buy Any Domain ? << Click Here >> for more details...
If I give gift to somebody, then how I'll show it in my
account
- 1 Answers
- 3809 Views
- I also Faced
- E-Mail Answers
Answer Posted / abdulla koya
Debit Gift Account
Credit Cash/Bank Account
(Given gift to Mr./Ms.........)
If the payment is made business cash:
Debit Drawings Account
Credit Cash/Bank Account
(Given gift to Mr./Ms.........)
Note: Never debit the personal account of the person
receiving the gift because it would make him your debtor in
the accounts
| Is This Answer Correct ? | 5 Yes | 0 No |
Post New Answer View All Answers
Why did you select accounting as your profession?
what are voucher entries for EPF treatment in tally
What is the marginal cost formula?
what is the right process for input credit of Service tax. and on which service i can take credit.
Tell me what is project implementation?
if you are a hard working nature conclude your self?
What is the meaning of scrap value in accounting?
sir i want to know that where we taken entry of sals return in excise in manufecturing unit tell me .
Tell me an example of a tough decision that you had to make?
what is windows dressing final accounts?,sales a/c belongs to which a/c type?
Explain what knowledge should financial accountant have?
X, PURCHASE HOUSE PROPERTY IN 2005, RS 400000,AND SALE IT IN2010, RS 1800000,IF X HANDICAP, AND IN 2008 MADE SENIOR CITIZON, HOW CALCULATE IT?
I m entering much more than 500-700 sales vouchers per month. But I m getting a problem while entering sale voucher is that If I have entered a sale voucher in the middle of a date then the voucher no is being changed. So how can enter a sale voucher in the middle of a date so that i can adjust the voucher nos from changing.
what is contribution? how does it help in taking managerial decisions?
My question is.. I Received the amount from party through the bank. example. 1. Actual received from party $1000 @ 32.70 = 32,700 baht(service charge included ) 2. Bank Charge 500 baht 3. Given the credit to pary $ 1000 @ 32.50 = 32,500 baht 4. and bank charge 500 debit on party account also. .... For the First three transacion on account bank account dr 32200 bank charge dr 500 party cr 32,500 ex. fluxation cr 200 how can treate the 4th transaction. thanks in advance
