what is the diff between reversal and cancellation entries?
Answer Posted / s subhalaxmi
Most of the cases both are considered in same sense,but we
use reversal when we made some mistakes while passing
entries which we need, but cancellation used when there is
no necessary for the entry at future.
Is This Answer Correct ? | 6 Yes | 0 No |
Post New Answer View All Answers
who is the pramotar?
Can you please help me calculate the pre tax profit for credit card for 2014 using the following Assumptions. Request you to list the steps used. Charges Late fee £12 per occurrence Over limit fee £10 per occurrence Cash fees 3% of cash withdrawal value Annual Fee £25 per account, per year Interchange 1% of transaction value KPIs Accounts overdue 10% per month Accounts over limit 15% per month Average APR 30% Balances revolving 90% of balance Average balance £900 at end of 2013 Expected growth in average balance (2014) 10% per annum Assumptions Open accounts 200,000 at 2013 year-end New accounts booked 5,000 per month Annual operating cost £50 per open account Cost of Acquisition £50 per account Provision rate 9% of total balances Annual cost of funds 4% by balance Charge off Unit charge-off rate in 2014 11% of accounts at 2013 year-end Unit charge-off rate in 2014 0% of accounts booked in 2014 Post charge-off recoveries 20% of balance Account Transactions Monthly turnover 5% of total month end balances Cash advances 20% of monthly turnover Additional Assumptions Please state any additional assumptions you have made to calculate your answer Thanks in advance,
sir,how to get strong position in finance .how to get good position in company. qulification.Msc,MBA
How can i prepare MIS report for Finance?
Process of the settlement cycle?
how we will prepare n file income tax returns for individuals?explain
Received cheque Rs 250000 which is exclusive of 5% Security deposit 2.24% income tax and i% miscellaneous recovery. Pass necessary entry
What's the meaning of Preferential Creditor?
what is status report? and flow report?
what is Accounting Standers?
Received an order from Babu for the supply of goods Rs.200/-. state whether the the following transcation is business transcation or non business transcation? with reson or explaination?
What is difference between cash flow and funds flow?
What exactly balance sheet depicts
Expand-------NABT
Which Exchange determine Foreign Exchange/Currency Rate?