Please Help Members By Posting Answers For Below Questions
when we can submit Form-C to the Sales Tax Dept.
What is the period to issue Form-C to the supplier
A firm had the following Balances on 1 January 1994:
(i) Provision for bad and doubtful debts Rs 2,500
(ii) Provision for discounts on debtors Rs 1,200
(iii) Provision for discounts on creditors Rs 1,000
During the year, bad debts amounted to Rs 2,000, discounts
allowed were Rs 100 and discounts received were Rs 200.
During 1995 bad debts amounting to Rs l,000 were written off
while discounts allowed and received were
Rs 2,000 and Rs 5,000 respectively.
Total debtors on 31 December, 1995 were Rs 48,000 before
writing off bad debts, but after allowing discounts. On
31 December, 1995, this amount was Rs 19,000 after writing
off the bad debts, but before allowing discounts.
Total creditors on these two dates were Rs 20,000 and Rs
It is the firmâ€™s policy to maintain a provision of 5%
against bad and doubtful debts and 2% for discount on debtors
and a provisions of 3% for discount on creditors.
Show the accounts relating to provisions on debtors and
provisions on creditors for the year 1994 and 1995.
I TRANSFERRED A STOCK OF RS. 100.00 FROM HEAD OFFICE DELHI
TO MFG. UNIT OFFICE AT HARYANA AGST FORM F.AT BRANCH GOODS
ARE PROCESSED AND ADDED VALUE OF RS. 80.00 AND TRNF BACK TO
DELHI HEAD OFFICE FOR RS. 180.00 AGST FORM F FROM HARYANA .
AND HEAD OFFICE SOLD THIS TO PARTY AT RS. 200.00 . I WANT
TO KNOW HOW TO MAKE ACCOUNTING ENTRIES IN BOTH BOOKS HEAD
OFFICE AND BRANCH OFFICE. TO SETTEL ACCOUNT AND TO
CONSOLIDATE THE BOOKS AT THE END OF YEAR.
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