Assigning natural account to accounting seg. What will happen


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which date is effected in books related bank reconciliation transaction date or value date?

4 Answers   Wipro,


A firm had the following Balances on 1 January 1994: (i) Provision for bad and doubtful debts Rs 2,500 (ii) Provision for discounts on debtors Rs 1,200 (iii) Provision for discounts on creditors Rs 1,000 During the year, bad debts amounted to Rs 2,000, discounts allowed were Rs 100 and discounts received were Rs 200. During 1995 bad debts amounting to Rs l,000 were written off while discounts allowed and received were Rs 2,000 and Rs 5,000 respectively. Total debtors on 31 December, 1995 were Rs 48,000 before writing off bad debts, but after allowing discounts. On 31 December, 1995, this amount was Rs 19,000 after writing off the bad debts, but before allowing discounts. Total creditors on these two dates were Rs 20,000 and Rs 25,000 respectively. It is the firm’s policy to maintain a provision of 5% against bad and doubtful debts and 2% for discount on debtors and a provisions of 3% for discount on creditors. Show the accounts relating to provisions on debtors and provisions on creditors for the year 1994 and 1995.

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What would be journal entry for--Encashed a bank draft belonging to X? Ans as given in textbook is Bank account debit to Cash account credit.......But shouldnt it be Cash account debit to Bank account credit...Wat do u guys feel??And do explain ur answers..Thnx in advance

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If we get TDS certificate after audit whareas this certificate is related to same financial year,in this condition how will we consider tds or can we take this credit in next f.y.?

2 Answers  


Vendor A/c Dr To Purchases A/c Cr In an entry what "TO"(Near Purchase) means or stands for or used for or from which accounting angle we have to use.

4 Answers  






Tell us do you have any idea about service tax or excise?

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how to value stock?

1 Answers  


what is the difference b/w gain and profit?

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Our company is in manufacturing stage and we had paid advance payment to several suppliers for some construction purposes. As manufacturing stage I want to treat it as Capital work in progress.So kindly advise how can we pass the entries for the same.

1 Answers   Reflective Aluminium Glass,


What is the entry for Good will payment? (received money for Good will)

2 Answers  


ABC Ltd is a company. Can ABC ltd send debit note to debtors?. what are you situation to send debit note to debtors ?

1 Answers  


R2R profile required which kinds of work in accounting ?

1 Answers   Accenture,


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