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Tell me under the accrual basis of accounting, when revenues are reported in the accounting period?
3959Explain what are the rules for debit and credit for different accounts to increase the amount in your business accounts?
3798If there are 15 credit purchases during a given month, then there will be ....................... posting from the purchase book at the end of the month
2 3268Hi, Mobile manufacturing given a mobile phone as a gift to their employee. What journal entry we need to pass in company point of view.
858Post New Accounting General Questions
purchase of Rs 1000 were rejected and returned,however vendor returned Rs 800 and balance Rs 200 is charged to sundry exp A/c
Can you differentiate public and private accounting?
What are bills receivable?
What GP resew of balance sheet taking.
what are the main important accounting entries for AP and AR ...
What is reversing journal entries?
Explain have you ever prepared mis reports and what are these?
What are source documents in accounting?
I am a Leaving Cert Student. From Solutions to exam questions etc. I know what to do with the following adjustment but I cannot explain why. A thypical Adjustment is: A building is acquired for €60000 plus VAT at 10%. The amount paid to the Vendor was entered in the Buildings Account. No entry made in the VAT account. Could you explain why the VAT amount is deducted from the VAT amount in the TB? And why it is sometimes an Asset in the BS. Thank you, Mary
What are the objects of cost accountancy?
What is diffrence Between GPF and EPF?.. can anybody explain..?
What is the difference between trial balance and general ledger?
What is a ledger in regards to accounting?
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 25,000 respectively. It is the firm’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.
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