How to record:- Amount received 500000/- for supply of material for 5 years

Answer Posted / abhi

how could u assume amount was not received in cash without any information.

Is This Answer Correct ?    2 Yes 1 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

Explain accounting 101?

680


Re: CST RATE IS 1 % IF C FORM IS RECEIVABLE. IF C FORM IS NOT RECEIVED FULL AMOUNT WHAT WILL BE THE RATE OF CST

1541


Tell me what is working capital?

633


What is the rate of penalty charged when the given Vat Cheque dishonoured?

2000


What do you mean by gaap in accounting?

637






You are using the accounts approach to parallel valuation and classic assets accounting. You need to create a new financial statement version to valuation based of IFRS principles. In asset accounting, what posting options can you choose for the new depreciation area? (any 2 answer) Area post in real time Area posts APC directly and depreciation periodically Area posts APC only directly Area posts APC and depreciation periodically

1002


Explain me where a cash discount should be recorded in journal entry?

3488


what is the limit of cash payment in a manufacturing firm and job work related work and how much we paid to the job worker cash payment in financial year Aslam

1458


What are depreciation and amortization?

656


what do you mean by Firm

1191


Under what type of account do the unearned revenues fall?

620


In accounting, how do you define the premises?

749


how to pass this entry in tally? Dear Sir, I have just started learning tally . I am practicing tally. and I am following 11th Std book for practicing. Please help me with the following entry. I know dr and cr part but having problem in grouping. Please Help. Introduced goods of Rs 10,000, cash Rs 15,000, furniture Rs 5000, debtors of Rs 1000 and commenced business. What will be the entry and group for each ledger. Please Help.

1134


Do you know how many types of business transactions are there in accounting?

618


My Brother is running a small business of Window glasses & Mirror etc. He needs Bank Loan (CC/OD Limit)against current account. So, I need a project report to apply CC Limit. Please Help me. My EMAIL ID is :- savichawla_1703@yahoo.co.in Kindly send the report to above ID ASAP. Thanks & Warm Regards Sarvpreet +919888669523

1674