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in terms of accounting the trial balance when is it taken?
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Hi, we are not a VAT register and raised not VAT bill to company for signage material. they are deducting WCT @4%, can anybody help me why they are deducting WCT while i am not a VAT register vendor, as i do not cross threshold limit.
I need to know when you buy a asset on credit and your monthly instalment is $10000 in the books where and how do you record the outstanding liability the interest and the capital instalments.Secondly the deposit that you receive which you should still send back to the tenat where in the books do you record for entry and the contra entry.
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Company A has purchased goods worth Rs. 25000 from company B and made the cash payment of Rs 5000 and remaining will be payable with in 30 days. Assume that there is a late payment charge @ 2% on remaining amount as the invoice was received after due date from company B. Pass the journal entry in the books of company A for all the above transactions.
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