Interested to Buy Any Domain ? << Click Here >> for more details...
Where do you post Credit Sales in Trading or P& L Account,
or should we deduct from the actual sales and put the net
figures in the column. Clarify
- 5 Answers
- 15618 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / hrishikesh
All the sales should be shown in Trading account only but
need to classify into cash sales and credit sales.we can
not deduct the actul sals from credit sales.
| Is This Answer Correct ? | 38 Yes | 1 No |
Answer / anudeep
we have to disclose both cash and credit sales in trading
account sales returns will be deducted from sales in trading
account
| Is This Answer Correct ? | 10 Yes | 0 No |
Answer / toms thankachan
all the sales should be shown in Credit side of the Trading
account.
All the sales invoices have to be entered as sales and on
payment reciepts we can use the cash voucher to record the
cash receipts & others will remain as outstanding.
This case is generally applicable in case of B2B.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / h.r. sreepada bhagi
Both Cash & Credit Sales will appear on the Credit Side or
under Income in Profit & Loss Account. If there's sales
returns, the same should be deducted from sales to show net
sales during the reporting period.
In case of Credit Sales, the amount receivable from the
customers will be shown under Assets Side of the Balance
Sheet at the end of the reporting period grouped under
'Accounts Receivable' or 'Sundry Debtors'
| Is This Answer Correct ? | 1 Yes | 3 No |
How can pass the entry stock goods loss by fire or theft
Why you join CA Profession?
what will be journal entry if bussiness is started from loan.
2 Answers State Bank of Mysore SBM,
What is purchasing order?
what is the entry of arrears salary. but salary sheet is already finished.
1 Answers Active Freight Services,
salary is paid to a person A wrongly twice a month and after detecting the mistake the salary is paid to the right person B.write the journal entry for the two sequences.
The balance sheet prepared for a
how to pass year ending entries for VAT treatment?
service tax calculated on agreement value or market value whichver is higher for builders?
Hi sir, Our appointed one agent for sales promotion activities. This agent doing the job "canvas of our product". My quires 1)it is eligible for service tax and how to accounted. 2) this transaction is direct expenses or direct expenses? Pl suggest me
0 Answers Supraveni Chemicals,
How to do accounting entries in Accounts Payable
What have you read in the newspapers in the last few days that particularly interested you?
Audit 
