purchase of Rs 1000 were rejected and returned,however vendor
returned Rs 800 and balance Rs 200 is charged to sundry exp
A/c
Answers were Sorted based on User's Feedback
Answer / ashraf ali
Dr. Purchase Return A/c 800/-
Dr. Sundry Expenses A/c 200/-
Cr. Purchase A/c 1,000/-
Is This Answer Correct ? | 4 Yes | 0 No |
Answer / mahendra
Purchase return a/c Dr. 800
Sundry Exp. Dr. 200
TO Purchase 1000
Is This Answer Correct ? | 1 Yes | 1 No |
pre paid expense is a asset?where it should be posted.
what is Finalization of Accounts?
over draft balance as per cash book (journal entries needed) a,cheques deposited in bank but no entry was passed in cashbook b, credit side of the bank, column cash short c, chques received but not sent to bank d, insurance premium paid by bank as per standing instructions e, credit side of bank, coloumn cash short f, bank charges entered in cash book twice g, cheques received returned by bank but no entry passed h, cheques issued returned on technical grounds i, bills directly collected by bank j, bank charges debited by bank k, cheques received entered twice l, bills discounted dishonoured
what is the meaning of prepaid&accruals in accounting?
BRS
2 Answers Akzonobel, BEL, Chartered Accountant,
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