its Simple depend on the Sales of Direct income what is
system of company
right from April to march what is the sales or direct
income that is the turnover of contrctor
in the case of sale means whatever they sale (cement
desarts etc. )
A finished building which is registered before 31-03 will
be the sale of the construction company. The buldings
completed not yet sold are finished goods. The construction
not yet completed are Process stock. The cement, steel
materials etc and the land not yet started for construction
are raw materials.
Here is a question i was asked below is the scenario need
to enter journal entrries for both accounting system Cash
1) Landlord A/c
2) Tenant A/c
3) Bills Receivable A/c
4) Cash A/c
5) Bank A/c
1) Bill is created.
2) Bill is sen to the tenant, journal entry =?
3) Cash is received from the tenant, journal entry=?
4) Receipt is created.
5) Receipt is sent to the tenat, journal entry=?
Its urgent, please help.