Interested to Buy Any Domain ? << Click Here >> for more details...
What do you mean by the term Accounts Payables/ Receivables?
- 4 Answers
- 16452 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / ch.babu
Both are exist when transactions made on credit instead of
cash.
Accounts Payable: Company/customer owes to the supplier
when goods or servies purchased on credit.
Accounts Receivable:money owed by the customer to another
entity in exchange of goods or services that have been
delivered or used, but not yet paid for. this will occur on
credit sales.
| Is This Answer Correct ? | 34 Yes | 1 No |
The Total Credit purchases is Accounts payable / Sundry
Creditors, which appear in Liabilities side.
The Total Credit Sales is Accounts Receivables / Sundry
Debtors, which appear in Assets side.
| Is This Answer Correct ? | 11 Yes | 0 No |
Answer / chandu
the term accounts payables means sundry creditors. including creditors and trade creditor, the term is used in balance sheet but not individual.
the term accounts receivables means sundry debtors, sundry debtors includes both debtors and trade debtors the term is used in balance sheet but not individual.
| Is This Answer Correct ? | 13 Yes | 4 No |
what is share slipt and its typea?
2 Answers Bank Of America, Capital IQ,
WHAT IS THE DIFF BETWEEN REVENUE AND INCOME??
The Lessee's right to recover the short working is related to
What is the journal entry for sundry debtors
A machinery item puchase form M/s. XYZ for the cost of Rs.2,00,000/- with freight charges Rs.20,000/- and installation charges Rs.10,000/- what is the journal entry
4 Answers Chartered Accountant, Sony,
We had purchased 100 Electrodes @ Rs 20/- Each. After a year we found 2 Electrodes is missing by physical Count. My Question is what journal entry should we passed against missing of 2 electrodes.
what is the different between nominal account and real account ? and then personal account ?
Why do you prepare a P/L Appropriation a/c?
for an employee in receipt of hostel allowance for his three children,the maximum annual allowance exempt u/s 10 (14) is
Mention what are the rules for debit and credit for different accounts to increase the amount in your business accounts?
Your grandfather is 75 years old. He has total savings of Rs.80,000. He expects that he live for another 10 years and will like to spend his savings by then. He places his savings into a bank account earning 10 per cent annually. He will draw equal amount each year- the first withdrawal occurring one year from now in such a way that his account balance becomes zero at the end of 10 years. How much will be his annual withdrawal?
PURCHASE AN OFFICE BUILDING FOR RS 1,50,000 IN CASH. THE BUILDING IS VALUED AT RS 1,10,000 AND REMINDER OF THE VALUE IS ASSIGNED TO LAND. WHAT WILL BE THE JOURNAL ENTRY
4 Answers Chartered Accountant,
Audit 
