suvabrata sarkar


{ City } ranchi
< Country > india
* Profession * site accountant
User No # 47527
Total Questions Posted # 2
Total Answers Posted # 6

Total Answers Posted for My Questions # 10
Total Views for My Questions # 21594

Users Marked my Answers as Correct # 130
Users Marked my Answers as Wrong # 82
Questions / { suvabrata sarkar }
Questions Answers Category Views Company eMail

What is the differance between Direct Tax and Indirect Tax?

ABC,

4 Taxation 7917

Wht is the differance between Trade discount and cash Discount?

 6 Accounting General 13677



Answers / { suvabrata sarkar }

Question { Accenture, 61214 }

When will the cash Book have a Credit Balance?


Answer

NEVER,CASH BOOK NEVER GETS CREDIT BALANCE.It may be zero

Is This Answer Correct ?    5 Yes 3 No

Question { 42467 }

who is debtor? who is creditor?


Answer

The word "Debtor" or "Credior" appears when the transcation
is made on credit.

Debtor-Debtor is a person who owes money to the
company/business or a person/company whom the goods have
sold on credit.
Creditor-Creditor is a person to whom company owes money or
a person from whom the goods have purchased on credit.

Debtor is shown in Right side(Assets side) of Balance and
Creditor is shown in lest side (Libilities side) of the
Balance sheet.

Is This Answer Correct ?    10 Yes 3 No


Question { ACS, 9284 }

Purchases entry?


Answer

1) Purchase on credit:--
Purchase a/c .......Dr
To Supplire/Vendor a/c

2) Purchase on cash:--
Purchase a/c .......Dr
To cash a/c
3) Parchase (if mentioned goods i.e. furniture, pen etc.)
on cash
Furniture/pen a/c.......Dr
To cash a/c

Is This Answer Correct ?    5 Yes 0 No

Question { 17589 }

vat paid on purchase is it comes on direct expenses or
indirect expenses


Answer

tHIS IS DIRECT EXPENSES

Is This Answer Correct ?    7 Yes 7 No

Question { Chintan Sales, 42571 }

What is an E-1 Sales.


Answer

E1 sale means mediator facliting transacion between the end
customer and actual product manufacturer.

Agency/vendor(Mediator) tooks the order from the customer
to supply the materials from the product manufacturer under
his guidance.

Which means the product manufacturer is not directly
involved with the customer(who actually floated the order).

The product manufacturer supplies the materials to customer
as per the dispatch instuction provided by the Agency/vendor
(Mediator) on his (product manufacturer)document's i.e.Tax
invoice,challan etc.The Product manufacturer will claim his
product value thru" his orinial tax invoice & product
supplied documents from the Mediator agency.This value was
agreed between the product manufacturer & the mediator.

And the Mediator agency claims the product value from the
customer vide his Commercial Invoice in reference to the
documents submitted by the product manufacturer towards
fulfilling the order. This claim value may be more , less
or equal to the product manufacturer.

Is This Answer Correct ?    32 Yes 5 No

Question { 70199 }

What is the journal entry for sundry debtors


Answer

When Materials purchased on credit then the material
supplier is called "Debtor" :

Exp. Materials ( Furniture / Raw Material) Purchased on
credit:-

Sundry Debtors a/c............................. Dr.
To Materials (Furniture / Raw Material a/c

When cash/ cheque paid to him:

Cash/ bank a/c ..............Dr
To Sundry Debtors a/c

Sundry Debtors shown in the assets site of Balance Sheet.

Is This Answer Correct ?    71 Yes 64 No