Sales A/C belongs to which account type?
- 12 Answers
- 41690 Views
- Chartered Accountant, OPI Global, I also Faced
- E-Mail Answers
Answer Posted / tutun mukherjee
sales a/c is a nominal its a revenue earned from disposing of goods thats why we post it on the cr. side of trading a/c......its nt a real a/c bcoz sales doesnt mean possession of inventories...its means outgoing of goods from godown....real a/c only comprise of assets have u seen ever sales has been placed in balace sheet? no
| Is This Answer Correct ? | 8 Yes | 2 No |
Post New Answer View All Answers
Hey can any body tell me..What are negative assets?
explain me what steps would you take to increase revenue for this company?
Can you name any other accounting application?
Why do users of accounting information need accounting information?
please explain all accounting concepts n conventions in detail
what is the head for stock trnasfer
What are the columns of a journal?
what is revenue recognition rule, and can you specify the answer.
purchase plant and machinery
What is accounting period?
Can we Put "TAX INVOICE" in the sale in Transit (E1) Invoice.
What is the provision?
What are the three factors that can affect your cash flow and business profitability?
Do you know compound journal entry?
what is the performa of bank reconcilation ? i want to need it and also i want to know about tds entry for various sources such as rent,contractor, commission, etc. and how we make the tds return, please tell me its very urgent?
