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How to record:- Amount received 500000/- for supply of material for 5 years
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Answer / twinkle verma
Bank a/c .....Dr. To Sales a/c (Being material supplied for 5 years in advance)
| Is This Answer Correct ? | 7 Yes | 1 No |
Answer / abhi
how could u assume amount was not received in cash without any information.
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / ishaq
Bank Account Debit
To Sales Account Cridit
To Supply Account Cridit
| Is This Answer Correct ? | 0 Yes | 0 No |
In the absence of any provision in the partnership agreement, profits and losses are shared (a) In the ratio of capitals. (b) Equally. (c) In the ratio of loans given by them to the partnership firm. (d) None of the above.
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