What is the provision? What is the entry for provision?

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I would like to know about work in progress, when we will debit WIP under Asset a/c head in balance sheet, the credit will be allocated under in which accounting head? whether its under purchase a/c or income a/c ? expecting detail explanation?

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what is asset and what is liability ? why in B/S both will tally at the of the accounting yr or financial yr as the case may be ?

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How many types of voucher?

14 Answers   Build Asia, Punjab National Bank,

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My question is.. I Received the amount from party through the bank. example. 1. Actual received from party $1000 @ 32.70 = 32,700 baht(service charge included ) 2. Bank Charge 500 baht 3. Given the credit to pary $ 1000 @ 32.50 = 32,500 baht 4. and bank charge 500 debit on party account also. .... For the First three transacion on account bank account dr 32200 bank charge dr 500 party cr 32,500 ex. fluxation cr 200 how can treate the 4th transaction. thanks in advance

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What will be the journal entry of purchase and sale for ac purchased for 40000 vat 5% sold for 45000 vat5%

0 Answers   Luminous,

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I m working in NGO. we have taken loan from a person or other project in march and returned in may. So what are the entries in tally should be. what are the ledgers to be created and under which group? what are the journal entries?

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What is the purpose of preparing a bank reconciliation and why is it necessary?

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Where is the reserve

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what journal entry pass in case of vat refundable and in case of vat payable?

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Hi Guys. Does anyone know any practising cost accountant in hyderabad? Pls help me. I would like to gain some practical experinence. Salary not an issue. Pls help me guys.

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If A are issueing a Cheque to B when B will present the Chq. in Bank than what entry will be prepare by the Bank in Their Books ?

3 Answers  

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