What is accounts recevable & acct. payble? How they are
efect in real life accounts of the company?
Answer Posted / durga bhavani
the comapny purchase or sells the goods either cash basis
or credit basis. If the comaany purchase the goods on
credit basis the account payable will araise. Account
payable is aliablity . when the company pay that amount it
will be deducted from the account payable account. account
receivable is an asset of the company .if the company sell
the goods on acredit basis to customer the amount will be
transfered to account receivable account .
Is This Answer Correct ? | 35 Yes | 3 No |
Post New Answer View All Answers
What is the analytical way of accounting?
Distinguish between sale and consignment
What is the procedure to become charted accountant in India now. Please answer this is urgent
Mr. X buys an asset of Rs. 1000/- in cash and with it get an free gold coin what is the general entry for this?
What is Merchandising Accounting process
What is Trade Recovery Estimate and how can we calculate it?
how u can control stock movments....like issuing raw materials receiving...in practical way..basically in ,y org we r using bin cards,barcodes etc but somehow need more concentration... help me frds..
Short Answer on ___________Finance Bill
wages posted twice what is the entry for that?
Who will be called as consignee
how can make configration related with electronic bank statment and how can i upload bank statment to system
what is the document spliting?
1.provide a brief write up on why you consider yourself suitable for the post voting your major achievements? 2. Mention your position in the hierarchy and the levels above and below you ?
Anyone whose sbi interview has been over , please share all the question asked by them
Expand------------STRA