what will be the entry for credit purchases with discount

Answer Posted / chandu

purchase A/c...........dr

To vendors A/c
To Discount A/c

Is This Answer Correct ?    7 Yes 0 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

1. Why do wish to study in canada in the program for which you have been accepted? 2. What is your overall education goal? 3. Why are you pursuing a similar program in your country of residence/citizenship? 4. What research have you done into studies in your country of residence/citizenship? 5. How will this program enchance your employment opportunities in your country of residence? please send me all possible answer i hope your answer will help me a lot...

5415


Tell me what a deferred asset is and give an example?

622


cheque deposit is a contra entry?

1689


How familiar are you with crm?

626


From the following particulars taken on 31 December, 1995, you are required to prepare a bank reconciliation statement to reconcile the bank balance shown in the Cash Book with that shown in the Pass Book: (i) Balance as per Pass Book on 31 December, 1995, O/D Rs 1,027. (ii) Four cheques drawn on 31 December but not cleared till January are as follows: Rs 12; Rs 1,021; Rs 98; and Rs 113. (iii) Interest on O/D not entered in Cash Book Rs 51. (iv) Three cheques received on 30 December and entered in the bank column of the Cash Book but not lodged in bank for collection till 3 January next: Rs 1,160; Rs 2,100; and Rs 2,080. (v) Cost of cheque book, Pass Book, etc; Rs 1.50 entered twice erroneously in Cash Book in November. (vi) A Bill Receivable for Rs 250 due on 29 December, 1995 was passed to the bank for collection on 28 December, 1990 and was entered in Cash Book forthwith whereas the proceeds were credited in the Pass Book only in January following. (vii) Chamber of Commerce subscription Rs 10 paid by bank on 1 December, 1990 had not been entered in the Cash Book. (viii) Bank charges of Rs 5 had been debited in the pass book twice erroneously. . . . plz be fast

1585






explain circumstances under which dissolution of solvent and insolvent partners are applicable using garners v/s murray rule

1800


Account for letter of credit in the books?

687


What do we mean by Redemption of shares and debentures?

1900


What is invoice processing can u explain it?

2457


WHAT IS THE LAST DATE OF HOUSE TAX SUBMITED , AND WHAT IS THE RATE OF HOUSE TAX ?WE PAID HOUSE TAX MCD OR ANY OTHER. PLEASE TELL ME.

1888


Can you name any other accounting application?

728


When a company s accounting year-ends on a day that is other than the end of the calendar year what is called in accounting?

634


CAN C FORM AND F FORM BE ISSUED FOR SAME JOB WORK CONTRACT CONSIGNMENT

1616


Do you know executive accounting?

629


What is use of statistics in accounting?

640