Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / kunal goswami
so when you sell something and you will receive money from others = sundry debtors and when you purchased something and you have to pay them back = sundry creditors
so for example *purchased goods from X on credit*
transaction should be
purchase a/c ..............dr to sundry creditors a/c
sold goods to X on debit
transaction should be
sundry debtors a/c.............dr to sales a/c
sales a/c always comes under credit and purchase a/c always comes under debit
| Is This Answer Correct ? | 2 Yes | 1 No |
Post New Answer View All Answers
Explain me have you ever heard about tds, what it is?
What is the revenue recognition principle?
What is vat adjustment?
Explain what is account receivable?
WHAT ELEMENTS OF YOUR JOB JNTEREST YOU THE MOST AND LEAST?
What is meaning of invoice?
Define a company's payable cycle?
if my salary is 12000 per month how much i will get after deducting PF an ESI
what is the right process for input credit of Service tax. and on which service i can take credit.
Tell me how much statistics knowledge is necessary or required in accounting?
Wha is difference between expenses and expenditure
please inform me , how to make employee ladger account of salary...please inform me with entry..e.g if we give 14000 salary, as structure we put it half amount in advance and half is salary so in this case how to make entry in employee ledger account...please inform me...both things..Thank You.
what is the method deposit of wct in Delhi
Sales Invoice 50000/- fully profit , management want profit for this year should be appear in P&L A/c and B/S 25000/- only and remaining 25000/- profit retain for the next year What will be JV for this year and next year?- Thank you
Purchase Goods worth rs.1000/ icluding vat of rs 40/ & Service charge receive 1000/ including service charge rs 123.60/ What will be entry in Tally? Please Define me?
