we are a trading company providing devices and some times
after sales service. when any defect came we just replace
the hardware from another defective device and getting the
payment from the customer. how can we account that? is
there any tax implications for this?
Answer / syedghouse
At the time of sale
cash sales. Cash A/c-------Dr
to sales A/c
2. Credit sales
Customer Name A/c ----Dr
to sales A/c.
3. Sales retuns.
Sales return A/c----- Dr
to Customer A/c
4. resupply of goods
Samme Entry.
%. Sellenr return goods to its vendor.
Vendor name a/c ----- Dr
Purchase retuern A/c
Is This Answer Correct ? | 3 Yes | 0 No |
professional tax payment for april 2017 paid from ranbeers credit card what are the expesses booking entry in tally
Hello Friends, I am Vinod Rawat & want some tips of interview question for the post of accountant in a reputed company Pls. Given Examples.
A business sold goods valued at R1000 excluding vat on credit to a customer. What would be the debit to the customers account if vat is 14% ?
What are its characteristic features of financial accounting?
What Is Bank Reconciliation ?
Explain the accounts payable cycle
under which ledger should i make opening work in progess and closing work in progress
WHAT IS MEAN BY CONTRA ENTRE? & WHERE IT IS USE.
discuss seperate determination concept
Explain the Steps to Define Invoice Batches
can anyone help in service tax part if we give a service on credit basis (Credit invoice) how should we pay service tax on invoice basis or reciept basis
Needs for capital