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bills receivables shows which balance
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Answer / ravichandra
bills receivables a/c is always show debit balance.
| Is This Answer Correct ? | 21 Yes | 1 No |
Answer / hemanth.n.s
debit balance. It is an extension of sundry debtors called
as bills receivable for which the concerned parties being
accepted the bills offered by the company
| Is This Answer Correct ? | 12 Yes | 0 No |
Answer / lakshmi.s
Bills receivable is terminology that is used between a
debtor and creditor. This is accounting terminology. An
example of Bill Receivable has been illustrated for your
benefit:
Mr. X owes Mr. Y $100. He owes this money because M.r Y has
sold furniture to Mr.X but X has not yet paid Y. He has
promised to pay Y after 6 months. Y will then issue a note
to X called a Bill of Exchange. This bill will state that X
owes Y a specific some of money because he has received
furniture from Y. It will also specify the date on which
the payment will be made by X. This bill of exchange will
be printed on Government approved stamp paper only.
In the double entry system of accounting, this bill will be
called Bills Receivable in Y's books and Bills Payable in
X's books.
| Is This Answer Correct ? | 8 Yes | 1 No |
Answer / jitendra
B/R shows debit balance,it arises because of credit sales
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / satyaki_raju@yahoo.com
blind answer is whatever the receivables it always shows
debi balance
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / venugopal reddy
All incomes and assets show Dr balance.
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / sathyanna
bills receivables means company have to collect debts
from sundry debitors so always bills receivables
reflect Debit balances
| Is This Answer Correct ? | 1 Yes | 0 No |
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On 01-04-2006 Mr. Dhanpal started business with Rs.2,00,000 cash and opened a bank account with Rs.1,50,000. He purchased furniture for his business for Rs.25,000. Goods were bought from Deendayal for Rs.50,000 on credit. He sold goods for Rs.27,000 in cash and 30,000 on credit. He paid Rs. 2,500 for business expenses during April month. Rs. 10,000 was withdrawn for office purposes from the bank. Find out the closing balance of cash and bank.
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