What is Account receivable & Account payable ?
Answer Posted / nagesh
Account receivable is the amount receivable from sundry
debtors for our services or goods to provided to them.
For Example: We rise the bill to Party for our service but
they will pay after 15 days then we have to accounted as
ACCOUNT RECEIVABLE
Insimilar case Account payable means amount we have to pay
to sundry creditors for their services or goods.
For Example January month of Rent we have to account last
day of January month even we are not paid as Rent Payable
when we make a payment we have to Debit Rent Payable
Is This Answer Correct ? | 5 Yes | 0 No |
Post New Answer View All Answers
Tell me did you use accounting applications at your previous companies or prefer working manually?
what's the mean by Imprest system? Please give me Replay on this no. 9885789716
6. Your grandfather is 75 years old. He has total savings of Rs.80,000. He expects that he live for another 10 years and will like to spend his savings by then. He places his savings into a bank account earning 10 per cent annually. He will draw equal amount each year- the first withdrawal occurring one year from now in such a way that his account balance becomes zero at the end of 10 years. How much will be his annual withdrawal?
can any one tell what is the selection proces in cognizant for MBA finance
what is the new rate of c.s.t in uttraklhand
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.
What does a demo/presentation need to be effective?
hi ,i need some suggestion,comptd my graduation in 2012,but i wasted my time for 6 month,just i want 2 escape from this question,what u did for 6 months,how can i give proper anser to them?pls suggest me
What was your average accounts receivable days outstanding/days sales outstanding?
What is a cpa?
pls let me know double entry of 'LEASING"
How Advances to suppliers for purchase of raw materials is to be considered while calculating Drawing Power
What is the difference between accrual
What qualifications have you achieved?
How to prepare HSD statements in tally