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 ?||19 Yes||6 No|
Answer / gautam kothari
Cash discount paid is an operating expense.
|Is This Answer Correct ?||4 Yes||6 No|
how to account salary advanced from petty cash
in Tally what is cost cenre,cost categori and why we need to prepare them
what is the job profile for Account Manager.
what are the document that get created in procurement to pay process ?
I'am accountant working in a trading concern. I wish to become an accountant in a manufacturing/construction company.are there any books available in the market from which I can get an Idea as to how accounts are prepared and maintained for a manufacturing/construction company.
what are the entries when we sold goods on credit to some x person ? also when we sold goods for cash?
if iam paid to insurence jan to jan but, financial year march to march
Sir, I want to know about Entry Tax. I purchased the Packing Box from other state.the entry tax on the packing items is 5 %.but now sale tax deptt. close the entry tax on barrier. the tax will be deposited with return. sir we want to know can i deposit this entry taxon on CST challan or not. if not then how can i deposit, or which cloumn in return shown this amount. please send the return format my mail ID is email@example.com
what is current rate of excise duty in india
what is the journal entry for : cheque received from Mr A and sent for collection.
how will rectify the error in trial balance.
1.an Asset costs $ 10,000 and has a net book value of $ 100, and an estimated life of ten (10) years, what would be the annual depreciation using the straight line method?