Interested to Buy Any Domain ? << Click Here >> for more details...
What is AR, AP, what transctions comes under this.
- 1 Answers
- 3658 Views
- ABC, I also Faced
- E-Mail Answers
Accounts Receivable is the money owed by the customers for goods or services bought on credit. A receivable account can be created by someone who sells goods or services and extends a line of credit to its customers.
Similarly Accounts payable is the obligation of a business that is originated because of purchases made on credit (e.g. for raw material, finished goods etc.), the money is yet to be paid for these transactions.
I found 2 good articles for you on this
http://www.accountingcapital.com/revenues/accounts-receivable/
or
https://en.wikipedia.org/wiki/Accounts_receivable
&
http://www.accountingcapital.com/expenses/accounts-payable/
or
https://en.wikipedia.org/wiki/Accounts_payable
Thanks!
| Is This Answer Correct ? | 2 Yes | 0 No |
Q13. Journalise the following transactions: Proprietor withdrew for private use Rs.4000/- from bank and 6000/- cash. Goods Costing Rs.5000 was burnt by fire. Purchase Machinery for cash Rs.150000/- and paid Rs.2000/- on its Installation. Charge 5% Depreciation on building costing Rs.200000/- and 8% Depreciation on Furniture costing Rs.5000/-. Prepaid Salary Rs2000/- Kapil who owed us Rs20000/- become insolvent and nothing is received from his estate.
What is meaning of ficticious asset
A cheque of Rs 65000/- received from aruna traders dishoured
Canu send me account aptitude questions
legal accounting methods to reduce profit of a partnership firm so as to reduce the tax liability?
Tell us your experience in cost accounting?
what is mutualfunds?
What is Deferred Capital Expenditure / Deferred Revenue Expenditure
Expand---------EDP
How many methods are there in capital budgeting? what are those.
what is the difference between direct income and indirect income?
13 Answers College School Exams Tests, IPO, Wipro,
Expand-------MTRS
Audit 
