Answer / suryakant lokhande

There are three accounting etries commonly generated they:
1.Personal Accounts
2.Real Accounts
3.Nominal Accounts.

Answer / vikas

I don't need the name of accounts. I want to know what are
the various debit and credit entries which are geneerated
in P2P cycle.

Answer / h.r. sreepada bhagi

Vikas,

Expand P2P Cycle. If the questions are not clear, wrong
answers will be posted. Many readers have marked the answers
with out understanding the question & relating the answer to
the question.

Answer / balasundaram

P2P cycle -

Approved Purchase requisition from concerned department -
Choosing appropriate vendor for purchase of goods/materials
(done by the procurement dept.) - Purchase Order (including
agreement in terms of price,payment
terms,quantity,transportation,delivery date etc.,) -
Receipt of goods from the vendor (GRN CUM DELIVERY NOTE) -
Depending upon the quantity ordered,issuance of debit
note/credit note to the vendor - Receipt of Invoice from
the vendor after adjusting DN/CN- Payment to vendor.

Accounting Entry -

1. accounts payable a/c dr
To vendor account
(Being goods received from the vendor and payment due)

2. Vendor a/c dr
To Bank a/c
(Being the amount paid to vendor vide chq. No.xxxx)

3. Vendor a/c dr
To cash a/c
(Being the amount paid by cash to vendor for the goods
purchased)

Company Providing Mobile handset to all employee on free of cost and returnable basis while leaving the job. My query is- how i account the above transaction - under fixed asset or mobile expenses- ( indirect exp) or staff welfare ( indirect exp ) Kindly suggest

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what is mean by accounts

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Assume that the real risk-free rate is 3% and that inflation is expected to be 8% on year 1,5% in year 2,and 4% thereafter.Assume also that all Treasury bonds are highly liquid and free of default risk. If 2-year and 5-year Treasury bonds both yield 10%,calculate the difference in the maturity risk premium on the two bonds.

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what kind of items are posted in the income statement?

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