WHAT ARE THE DISTINGUISH BETWEEN ACCOUNTS RECEIVABLE AND
ACCOUNTS PAYABLE
- 3 Answers
- 6821 Views
- Accenture, I also Faced
- E-Mail Answers
Answer Posted / sr cm exe dipesh gujrati
A/R IS RELATED TO THE SERVICES OR FACILITY OR LOAN WHICH WE
PROVIDE AS IN CHARGE.SO WE CHARGE SOMETHING FOR THAT
SERVICES. SO FROM WHOM WE HAVE TO TAKE THE MONEY, THEY ARE
DEBTOR AND THATS WHY WE SHOW THEM IN OUR ASSETS.
AND A/P IS RELATED TO THE SERVICES/LOAN WHICH WE TAKE FROM
OTHERS IN CHARGE. MEANS WE PAY THEM SOMETHING BECAUSE WE
ARE USING THE FACILITIES FROM OUT SOURCE SO WE HAVE TO PAY
SOMETHING FOR THAT SERVICES. SO ITS OUR LIABLITY TO PAY
THAT S WHY WE SHOW THEM IN LIABLITY.
| Is This Answer Correct ? | 1 Yes | 0 No |
Post New Answer View All Answers
how to pass entry in tally for Interest received on sweep credited to saving a/c? In what group it should be come
What and How to compute an unsecured balances?
in insolvency we have to prepare deficiency account but why we do not prepare this account as per general principle i.e Dr Cr To By etc , and deficiency account is which account?
please explain all accounting concepts n conventions in detail
What do you know about this position?
what are the different methods of teaching share and debenture to pre degree students
under the modified cash basis of accounting, most revenues and expenses are recognized on the cash basis. Which one of the following items is an EXCEPTION to this accounting practice? a.Advertising b.Professional Fees. c.Supplies d.Rent
What is fitting and fixtures?
What is the difference between perpetual & periodic inventory system?
As you know any other accounting application?
2. A budgeted profit statement of a company working at 75% capacity is provided to you 2 below, Sales 9,000 units at Rs. 32 Rs. 2,88,000 Less: Direct materials Rs. 54,000 Direct wages 72,000 Production overhead: fixed 42,000 variable 18,000 1,86,000 Gross profit 1,02,000 Less: Administration, selling and distribution costs: fixed 36,000 varying with sales volume 27,000 63,000 Net profit 39,000 You are required to: (a) Calculate the breakeven point in units and in value. (b) It has been estimated that: (i) if the selling price per unit were reduced to Rs. 28, the increased demand would utilise 90% of the company's capacity without any additional advertising expenditure, and (ii) to attract sufficient demand to utilise full capacity would require a 15% reduction in the current selling price and a Rs. 5,000 special advertising campaign. You are required to present a statement showing the effect of the two alternatives compared with the original budget and to advise management which of the three possible plans ought to be adopted, i.e., the original budget plan or (i) above or (ii) above. (c) An independent market research study shows that by spending Rs. 15,000 on a special advertising campaign, the company could operate at full capacity and maintain the selling price at Rs. 32 per unit. You are required to: (i) Advise management whether this proposal should be adopted.
is goods in transit will be liable for entry tax ?
Tell me what are things will not be included in bank reconciliation statement?
Anti Takeover policies
What is accounting normalization?
