i have recd airtel bill for june 13 month , what general
entry i have to book in tally and Airtel come under which
head ??
Answer Posted / syed iliyas
if airtel bill in on firm name the should have to book
expenditure and debited to telephone expences and credited to
airtel account, if airtel bill is on owner or partner name
then debited to his capital account and credited airtel
account as drawing.
Is This Answer Correct ? | 6 Yes | 1 No |
Post New Answer View All Answers
From the following information you are to prepare a Cash Budget for the period from July to December 2008. (i) The estimated sales and expenses are as follows: June July Aug. Sep. Oct. Nov. Dec. Sales 35,000 40,000 40,000 50,000 50,000 60,000 65,000 Purchases 14,000 16,000 17,000 20,000 20,000 25,000 28,000 Wages & Salaries 12,000 14,000 14,000 18,000 18,000 20,000 22,000 Expenses 5,000 6,000 6,000 6,000 7,000 7,000 7,000 Interest Received 2,000 - - 2,000 - - 2,000 Sale of Fixed Assets - - 20,000 - - - - (ii) Sales are 20% in cash and balance on credit. 50% of the debtors are collected in the month of sales and the remaining in the next month. (iii) The time lag in payment of purchases and expenses is 1 month. However, wages and salaries are paid fortnightly with a time lag of 15 days. (iv) The company maintains a minimum cash balance of Rs. 5,000. The cash balance in excess of Rs. 7,000 is invested in government securities in multiples of Rs. 1,000. Short falls in cash balance are made good by borrowing from banks. The interest received as well as paid is to be ignored.
Queries for Big4 Articleship : Whether son of CA in practice effects chances.
what is article of association? what is memorandum of association?
Expand---------DEP
company accounts introduction?
Whats the Balnace of Closing stock so if we issued the materil then the Closing stick will be dr and in case we pirchsed the materil the closing stock will be cr so tell me that i m correct or not
Can you explain about the distinction of Book-Keeping and Accounting
hii,i was appeared in recruitment process of Catholic Syrian Bank.Interview question were general banking related... as what is crr,calling rate, current inflationrate etc
What are motive behind mergers And acquisitions?
What is Accommodation Bill
Aravinda Financiers sanctioned a loan of Rs 250000. A cheque was sent after adjusting processing charges Rs 247250 Pass necessary entry
In order to comply with the matching principle, adjustment entries are made at the preparation of ----------
what is cost accountinp
What is Trade Recovery Estimate and how can we calculate it?
What is the important of cash in a business unit