Answer Posted / sunitha
when a company sold goods for credit the amount to be
received in the future date is shown as accounts
receivable, it is the current asset for the company, so
shown under the current liabilities of b/s.
In the same way when the company bought goods on
credit, the amount to be received in the future are called
bills payble, it is shown under current liabilitis of
balance sheet.
Is This Answer Correct ? | 8 Yes | 6 No |
Post New Answer View All Answers
About Funding Working Capital to a Company? A company Turn over is 12 Cr, but in the bank statement credits per month is more that 3 Cr? how this could happen? awaiting your views?
What are Corporate Action?
how to prepare the balance sheet of private ltd. company & what roll should be play by Income tax, compnay law & accounting standard in India & world.
What is combination?
How shall I calculate the true profit of my business, as I am a layman for accounting.
Expand-------MTRS
Mention some of the major contributions made by you in your present and previous jobs
I am going to attend an interview for the post of jr. Accounts Officer in airport authority of india,pls help me to prepare for the interview??
difference between vat 47 & vat 49
is it possible that on dealer of work contract can opt composition and non-composition both scheme in dvat?
wat is the fundamental analysys& technical analasys?and wat is the difference bewween fundamental analysys&technical analasys?
what is participation right is it a debt? or not?
income from depreciated asset is profit or loss?
WhatIs the limit of duty exemption in smal scale industries.
Office cash was stolen? state whether the following transcation is business transcation or non business transcation?