what will be the journal entry-discount rs 2000 allowed to mr x.and discount received rs 2000 from mr x.actually i am confused that in the first entry both discount a/c and mr x a/c will be credited as per the accounting standards.please help experts.thanks

4 Answers  

---

Tell me what is the abbreviation for the accounting terms debit and credit?

0 Answers  

---

What are a debit note and credit note with an example?

0 Answers  

---

What is band and why the company needs this?

0 Answers  

---

Increase in one equity with no change in the asset will result in .................... of another equity

1 Answers  

---

Why the provision is considered as expense and reserve is considered as liability even if they both are allocated as precautionary for specific and general purpose? pls Explain.

1 Answers  

---

What do you debit and credit if discount allowed is underrated?

0 Answers  

---

what is upper circuit & what is lower circuit? please guid with an example?

1 Answers  

---

You are using the accounts approach to parallel valuation and classic assets accounting. You need to create a new financial statement version to valuation based of IFRS principles. In asset accounting, what posting options can you choose for the new depreciation area? (any 2 answer) Area post in real time Area posts APC directly and depreciation periodically Area posts APC only directly Area posts APC and depreciation periodically

0 Answers   IBM,

---

What is the Significance of Open Item of B.R.S. in SAP.

1 Answers   Samsung,

---

wages,conveyance,hra,spl allowance,P.F,& ESI payable journal entry?

4 Answers  

---

what is account reconcillation

0 Answers  

---