journal entry for interest collected by account holder from the bank?
Answer Posted / manikesh
Bank A/c Dr. —
To SBI bank a/c. —
In the credit side which bank gives interest that bank name will be written. That's it
| Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
What is fair value accounting?
What are the fictitious assets?
1. how to pass TDS entry in tally 2. how to pass service tax entry in tally 3. how to pass depreciation entry in tally 4. what is percentage in TDS and service tax
Explain me bills receivable?
What is difference vat
What is normative accounting?
what is the manual procedure for accounting
Cheque Received From Customer What is accounting entry and in which vocher. coustomer order is 100 items . 5 items given to customer cost rs 2000 5 items Total 2000 and remaing 95 items not deliveried 100000 Cheque Received
Do you know company's payable cycle?
what is the meaning of 4X and 10X value in intraday market?
how to geting finished goods cost with included it's all BOM and all production order cost in sap?
What do you mean by material facts in accounting?
how to pass journal entries for reverse tax on input tax paid
The following transactions relating to ABC Ltd for the month of 20x1 a) Services performed in relation to income recieved in advance total $1500 b)Supplies expense includes $400 of supplies that are still on hand at 30 June c)Interest accrued on the bank loan is 750 d)At the end of june paid rent for 3 months (June, july Aug) $6000 e)Credit sales for the month of June 2009 amounted to $50000. Past expierence shows that around 1.5% of net credit sales are written off as bad debts. XYZ ltd, previously notified ABC ltd that they have gone bankrupt, will be able to pay $1000, which was recieved at the end of the month. The provision of doubtful debt has an opening balance of $800. f) The owners of ABC Ltd wish to revise the balance of the provision of doubtful debts account to $3500. g) Depreciation of one year on the delivary van is $1500. h) On 30 June 2009, ABC Ltd sold an item of equipment for $40000 cash. The cost of equipment was $50000 and had a accumulated depreciation balance of $2000 REQUIRED: Prepare the relevant adjusting journal entries for the month of June 20x2
Explain me the difference between accounting and auditing?