Sale of Rs.10000, where in 50% is on credit and there 10%
discount on the immediete payment. Pass a journal entry for
this
- 26 Answers
- 27321 Views
- Accenture, I also Faced
- E-Mail Answers
Answer Posted / manjunath
FOR SALES ENTRY.
CR SALES A/C 10000.00
DR PARTY A/C 10000.00
FOR RECEIPT GE.
CR PARTY A/C 5000.00
DR DISC ALLOWED A/C 500.00
DR CASH A/C 4500.00
| Is This Answer Correct ? | 4 Yes | 6 No |
Post New Answer View All Answers
TDS %AGE ON CALLIBRATION CHARGES BILL
Assuming that a firm pays tax at a 50 per cent rate, compute the after tax cost of capital in the following cases: I. A 8.5 % preference share sold at par. II. A perpetual bond sold at par, coupon rate of interest being 7 per cent III. A ten year, 8 percent, Rs.1000 par bond sold at Rs.950 less 4 percent underwriting commission.
What does a demo/presentation need to be effective?
Is it mandatory for the employees staff of a School, if so give details
is there is mentioned that we can adjust excess debtors with creditor in the stock statement while calculating Drawing Power
What is the provision? What is the entry for provision?
What is a ledger? What do you mean by ledger posting?
My question is on Opening & Closing Stock Suppose Closing stock of 2014-15 is Rs 30 lakhs & Also we filed return & ROC too for 2014-15. Opening stock for 2015-16 should be Rs 30 lakhs but we found that some purchase for feb & March 2015 Stock has been entered in tally Its taken directly to purchase split of stock not made & in sales to same of 2 lakhs no split of stock is shown. Those stock need to make changes in 2015-16 what was the process ? And what will be adjustment entry ?
journal entries for money received from RBI by the banks IN CASE OF INSUFFICIENCY
What are the steps to take before you approve an invoice for payment?
Journalize the Following: 1. The following were purchased on account: a. Materials $ 10,000 b. Office supplies $ 2,000 c. Small tools $ 1,000
Define scrap value in accounting?
what is accounting cycle ?
Explain what are the accounting events that are frequently involved in compound entries?
How do you handle rejection?
