Interested to Buy Any Domain ? << Click Here >> for more details...
In the General Ledger.. When putting discounts, you put discounts on the DR side for Creditors and Discounts on the CR for Debitors.. Which side does discount go on for the rest of the accounts such as Purchases, M Dog, L Shirt, and L Dress?
- 1 Answers
- 2492 Views
- I also Faced
- E-Mail Answers
Answer Posted / deshvrat rai
We can write only cash discounts in our book of accounts, and it is available for our debtors and creditors only . Discount other than cash discount is trade discount. We can not write trade discount in our books. We write it by decreasing the price amount. Exp. List price of a mobile phone is Rs. 15,000/- . Seller is allowing discount of Rs. 1000/- each. Hear in the books of seller Sales a/c will be credited by Rs. 14,000/- only, and discount will not be visible in the books.
| Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
What is meant by balancing?
Do you know how many types of business transactions are there in accounting?
how to treat investment fluctuation fund in case of death of a partner
i wana give an interview as sr. excise officer what r the question will asked by interviewer ??? Please suggest me so I can clear inteview.thank u
Is buy or sale trade will impact on Nov? Yes/No Please explain.
Key difference between indian accounting standards and international accounting standards is.
what is the procedure to appoint an Austrlian citzen as indian company director...
What is a ledger in regards to accounting?
What is recording damage inventory in books of account?
pls. tell me with detail (what is the rate of service tax and w.c.t. for a contractor who do civil work -make building and repairing. what is the format of generate a bill for (with material and labour both ) what entry should i pass in my accounts bokks. general and sales entry.
Please provide me the entire format of P.F. & ESI
What qualification do you need to become an accounting professional?
Where do generally accruals appear on the balance sheet?
Do you know the term account payable?
What are the functions of manger -accounts and manager-finance? Explain in detail
