radhakrishna al


{ City } bangalore
< Country > india
* Profession * manager accounts
User No # 52620
Total Questions Posted # 1
Total Answers Posted # 2

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Questions / { radhakrishna al }
Questions Answers Category Views Company eMail

An estimate of assets and liabilities on a given date a)Balance sheet b)statement of affairs c)statement of assets d) statement of liabilities

APCPDCL,

2 Accounting General 4610



Answers / { radhakrishna al }

Question { 2991 }

if the chegue is post dated in the time of paying pre-paid
insurense how can show the journal entry in the company book?
please show that this journal entry


Answer

The Journal Entry is as same as for Pre paid Insurance

Prepaid Insurance A/C Dr
Bank A/C Cr

When we are following Merchentile system of Book keeping,
It the is not the point of Time when you make the payment
but the Incurrence of Expence to record the same in Books
of Accounts.

Is This Answer Correct ?    3 Yes 0 No

Question { 3618 }

Suppose we are getting a TDS Certificate from our vendor's
how can enter the same in our books.


Answer

Entry is not needed in the books of accounts when we
receive TDS Certificate from our Vendor as it is not an
accounting transaction.

Is This Answer Correct ?    4 Yes 2 No