What will be the journal entry for advance payments made to the other parties?
- 5 Answers
- 12856 Views
- I also Faced
- E-Mail Answers
Answer Posted / mohan
debit to the advanced party and
credit to the who the advance made name party
| Is This Answer Correct ? | 3 Yes | 1 No |
Post New Answer View All Answers
please advice example of any single journal entry which include all 3 accounts i.e personal, real & Nominal a/c.
Types of errors in account
What is a ledger in regards to accounting?
what is account reconcillation
My company sent this party goods 62750 this goods is loss sundorbhan paribahan. how to create voucher
what is the minimum & maximum amount paid by company per day
Can we Put "TAX INVOICE" in the sale in Transit (E1) Invoice.
Do you know what is project implementation?
what is special purpose ledger in SAP.. is it required to configure in ECC 6.0 since New GL concept is active?
What is the Technology used to carry out trades? Pls Tell me as early as possible.
Give ONE reason for Balance Sheet to be out of balance
Define fictitious assets?
if I m taking a loan from bank of AED 20 lakhs @ 10.25% per annum for 10 years how much amount as intrest I need to pay in this 10 year period of time to bank.
What is the difference between cfa and csa?
DHPL is a small sized firm manufacturing hand tools. It manufacturing plan is situated in haryana. The company's sales in the year ending on 31st march 2007 were Rs.1000 million(Rs.100 crore) on an asset base of Rs.650 million. The net profit of the company was Rs.76 million. The management of the company wants to improve profitability further. The required rate of the company is 14 percent.The company is currently considering an investment proposal. One is to expand its manufacturing capacity. The estimated cost of the new equipment is Rs.250 million. It is expected to have an economic life of 10 years. The accountant forecasts that net cash inflows would be Rs.45 million per annum for the first three years, Rs.68 million per annum from year four to year eight and for the remaining two years Rs.30 million per annum. The plant can be sold for Rs.200 million: (a) The company can borrow funds from a nationalized bank at the interest rate of 14 percent for 10 years. It will be required to pay equal annum installment of interest and repayment of principal. (b) A financial institution has offered to lend money to DHPL at 13.5 per annum but it needs to pay equated quarterly installment of interest and repayment of principal. Questions: (1) Should the company expand its capacity? show the computation of NPV. (2) What is the annual installment of bank loan? (3) calculate the quarterly installment of the financial institution loan. (4) should the company borrow from the bank of from the financial institution?
