How can be adjusted advances in the next year, shown at
liabilities side in last year balance sheet (these advances
in the name of unreal persons). status of firm - Pvt. Ltd.
Company . Nature of business is automobile service.
industry.
suggest me
- 1 Answers
- 2762 Views
- I also Faced
- E-Mail Answers
Answer / ramesh kumar
Debit - Provision for Advances A/c Dr.
credit- TATA motors Prt Ltd A/c Cr.
if we receive advances against TATA motors we can adjust the
credit sales or otherwise if any any item sold to customer
below entry applicable
Debit - Provision for Advances A/c Dr.
Credit - Sales a/c cr.
| Is This Answer Correct ? | 1 Yes | 0 No |
What is the Formula For Return on Working Capital
why profits are shown as liability and loss as asset in balance sheet?
Expand ------HH
what are the concepts & conventions of accounting?
What is the due date for paying monthly IT deductions, other than deductions towards salary
What are patents
Why Closing Stock Not shown in Trial Balance?
What are different types of reports made in tally
Wats is the diffrence between Fund flow and cash flow statemtnt?
2 Answers HCL, JPMorgan Chase,
what is EDP reports?
How shall I calculate the true profit of my business, as I am a layman for accounting.
What is the concept of Loan against Shares (LAS) & ALBM?
Audit 
