Interested to Buy Any Domain ? << Click Here >> for more details...
. Expenses a/c. Dr.
To vendor a/c. Cr.
What is an impact of this transaction on business
- 2 Answers
- 9012 Views
- Genpact, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / r. k. mallick
It means Expenses incurred by Business on Credit. The Vendor
a/c will settle on later as per terms & condition.
| Is This Answer Correct ? | 18 Yes | 1 No |
Answer / chandra shekar
it is so simple
expence is nominal acount so it is debete
vendor is giver of product so he is credited
So above trancations states that expence is due to purchase
by vender
Ex : pen purchased on credit but vendor having due from our
side.
Purchase (pen) acount Dr
To Miss Nandini Acount
| Is This Answer Correct ? | 9 Yes | 3 No |
When a company s accounting year-ends on a day that is other than the end of the calendar year what is called in accounting?
pass the journal as wellas ledger entries off the foll 1st jan :> started businress with cash rs 1,20,000 & goods worth rs 60,000. 2nd jan > cash purchases rs 50,000. 4th jan >cash sales rs 40,000. 6th jan > purchase good's from sonali on credit worth rs 30,000 at 10 % trade discount. 8th jan> sold sood's to komal on credit rs 20,000 at 10% trade discount. 10th jan > paid rent by a cheque rs 50,000. 12th jan > good's worth rs 4,000 lossed by fire. 14th jan > good's worth rs 3,000 withdrawn from business for personal use. 16th jan > good's worth rs 2,000 distributed as free samples. 18th jan > good's worth rs 1,000 exchange for furniture.
Is it necessary after every journal entry to show its treatment in P&L a/c? Eg. if I am asked to show journal entry of purchasing furniture & fixture on 1st Aug 06, i.e. Furniture & fixture a/c Dr. To cash/bank a/c Along with this, I have to pass following journal entry on 31st Mar 07?? P&L a/c Dr. To Furniture & fixture a/c
HI EVERYONE I WANT TO KNOW, CAN WE ISSUE DEBIT NOTE OR CREDIT NOTE AGAINST STOCK TRANSFER , IF WE ISSUE OR NOT ISSUED THENY WHY PLZ EXPLAIN
Diff between Net profit & Gross profit?
What is the limitaion of the Trial Balance?!
Home furniture sold goods to Jhon for 150000 on 10th march 2015, due to damage occured in transmit rs 20000 worth of goods have been returned on 16th march 2015. What is the journal entry for both the instances ?
In our company we are making payment through X bank and again we opened a new account in Y bank and we deposited cash in this bank rs.10000.and cash is used from X bank. then what will be the entry & how to adjust with old bank
Golden Rules Accounts (15th nov-2009)
WHAT IS MONTH END CLOSING? AND WHAT YOU DO IN MONTH END CLOSSING PROCESS?
What is the golden rule of General Ledger?
Contra asset accounts have credit balance and are an offset to a related asset account ? true or false .
Audit 
