IS CASH DISCOUNT/RECIVED IS OPERATING EXPENSE/INCOME?
Answers were Sorted based on User's Feedback
Answer / h.r. sreepada bhagi
No. Cash Discount Received or paid are not Operating
Income/Expense. Only Trade Discount shown in the
Purchase/Sales Income is an operation item and needs to be
adjusted with Purchases/Sales while accounting the transaction.
Cash Discount Received can be accounted as Other Income &
Cash Discount Allowed/Paid can be accounted under Financial
Charges, as this is a result of financial decision.
|Is This Answer Correct ?||18 Yes||5 No|
Answer / gautam kothari
Cash discount paid is an operating expense.
|Is This Answer Correct ?||2 Yes||3 No|
hello friends i like to know journal entry for one loan transaction ie if you purchase a car for EMI with initial payment how to make first entry & monthly entry any thing is there? pls reply to me.
in Tally accounting programme where should I can make ledger for Work in Progress? under which accounting head? Eg. Debit will be under Current Asset a/c and what about credit? whether it is under Purchase a/c? or under Income a/c?
what is tds? how this tds deducted? what is percentage? how to calculate? what is the procesure?
what is the difference b/w gain and profit?
I Give a Cheque for IPO in Saving Bank Account , What entry in tally accounting softwer With Example
what is break even point
Hello friends, I want to sk that Is computer proficiency certificate necessary at the time of SBI clerk Interview?and all other guys who have cleared the nov 2009 exam and have got the bio data form please give replies,,, waiting for replies ,thank you.
what is Investment Fluctuation Fund? is it reserve or provison?
why the company select you?
Why an Expenditure is called Differed?
I TRANSFERRED A STOCK OF RS. 100.00 FROM HEAD OFFICE DELHI TO MFG. UNIT OFFICE AT HARYANA AGST FORM F.AT BRANCH GOODS ARE PROCESSED AND ADDED VALUE OF RS. 80.00 AND TRNF BACK TO DELHI HEAD OFFICE FOR RS. 180.00 AGST FORM F FROM HARYANA . AND HEAD OFFICE SOLD THIS TO PARTY AT RS. 200.00 . I WANT TO KNOW HOW TO MAKE ACCOUNTING ENTRIES IN BOTH BOOKS HEAD OFFICE AND BRANCH OFFICE. TO SETTEL ACCOUNT AND TO CONSOLIDATE THE BOOKS AT THE END OF YEAR.
Goods worth Rs.347.60 has been destroyed. Ex:(parachute Hair Oil 8 Ml, So entry will be.. Abnormal Loss A/c Dr....347.60 To Stock Destroyed A/c How it possible????