Give Journal Entry for "Interest Received from Bank"
and give description with Accounting rules
Answer Posted / khushi kaur
Bank a/c........Dr.
To bank interest received a/c
(being bank interest received)
Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
How the Entry passed for Loss of Payment
The 'going concern concept' is the underlying basis for: 1.stating fixed assets at their historical cost 2.disclosing the market value of securities 3.disclosing the sales and other operating information in the income statement 4.none of the above
A firm had the following Balances on 1 January 1994: (i) Provision for bad and doubtful debts Rs 2,500 (ii) Provision for discounts on debtors Rs 1,200 (iii) Provision for discounts on creditors Rs 1,000 During the year, bad debts amounted to Rs 2,000, discounts allowed were Rs 100 and discounts received were Rs 200. During 1995 bad debts amounting to Rs l,000 were written off while discounts allowed and received were Rs 2,000 and Rs 5,000 respectively. Total debtors on 31 December, 1995 were Rs 48,000 before writing off bad debts, but after allowing discounts. On 31 December, 1995, this amount was Rs 19,000 after writing off the bad debts, but before allowing discounts. Total creditors on these two dates were Rs 20,000 and Rs 25,000 respectively. It is the firm’s policy to maintain a provision of 5% against bad and doubtful debts and 2% for discount on debtors and a provisions of 3% for discount on creditors. Show the accounts relating to provisions on debtors and provisions on creditors for the year 1994 and 1995.
Tell me the types of accounts involved in double entry book-keeping?
Other accounting interview questions to expect when you interview for an accountancy job include:
under the modified cash basis of accounting, most revenues and expenses are recognized on the cash basis. Which one of the following items is an EXCEPTION to this accounting practice? a.Advertising b.Professional Fees. c.Supplies d.Rent
How do you maintain accounting accuracy?
What other careers are you considering?
in Sensex and Nifty, what is the measure to take the points
What are control ledgers? What are the purposes of maintaining it?
In a housing society accounting if a defaulter having dues consisting of principal amount and simple interest, pays a part amount whether the received amount should be adjusted first against the interest dues and accordingly reduce the balance principal dues or adjusted only against the principal amount, allowing outstanding simple interest to contineously increase/
Who is considered the father of accounting?
What are the difference between Debit Memorandum and Credit Memorandum?
What are the features of financial accounting?
HOW DOES THE ROLE OF THE MANAGEMENT ACCOUNTANT COMPLIMENT THAT OF THE FINANCIAL ACCOUNTANT