Answer Posted / binod agarwal
Other than individual & Huf assesse called corporate assesse
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What entry to be passed for Duty draw back as receivable
we have received amount from others through debit/ credit cards. what is the ledger group of this? i am confused selecting the ledger group could you explain.
WHETHER CAPITAL RESERVE CREATED OUT OF SALE OF FIXED ASSETS OVER AND ABOVE THE COST BE TRANSFERED TO PROFIT AND LOSS ACCOUNT
SOLD GOODS WORTH 5000 TO AKBAR WHO PAID 3000 ON ACCOUNT
April-25 Paid to Mr. Y in full Settlement by Cheque Rs. 4800. April-26 Received a cheque from Mr. B in full settlement Rs. 4900.
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