what is accrual concept?

7 Answers   Capital IQ, Genpact, TCS,

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Journalize the Following: 2. Monthly credit sales were $ 35,000 3. Received Cash receipt payments on Receivables in the amount of $ 10,000. 4. Customers’ cheque in the amount of $ 100 bounces and was re-deposited. Book both entries. 5. Material is bought on account for £ 100,000. The exchange rate is Four pounds to One Dollar. Then, later, merchandize is paid for. The exchange rate is Five pounds to One Dollar. Book both entries in Dollar when merchandize is bought and when it was paid. 6. Materials worth $ 20,000 was purchased on account and paid for with 1% discount. Book both entries. 7. Record the purchase of Direct Material on Account in the amount of $ 20,000. Half of it was for stock and the other half for a specific job order. 8. Record the disbursement of $ 1,000 raw material to shop floor for use on specific job

0 Answers  

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How is the accounting for lease transactions done?

0 Answers  

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what do you mean by margin of safety

4 Answers   Capital IQ,

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hi all I am new here, I would like to ask one question. when a company (MNC) is following more than one accounting principle then what are the areas we need to change in sap.

1 Answers  

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why capital is a liability ?

5 Answers   Genpact,

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how many type of vat

2 Answers  

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how to make dd payment entry of insurance of rs 34755 dd made by cash

4 Answers  

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What is the Diffrence Between Expenses & Expenditure ??

3 Answers   Focus, OPI Global,

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the client has running his business in a rental building and he built new room in same place with own money. can we use the expenses of new room in profit and loss a/c

1 Answers  

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What is the rate of penalty charged when the given Vat Cheque dishonoured?

0 Answers  

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What is a trial balance in accounting?

0 Answers  

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