Question { OPI Global, 3113 }

what is the entry for accumulated depreciation?n why it is
used?when it is necessary?

Answer

Depreciation is a value reducing of fixed asset its using
for when the company will prepare balance sheet depreciation

Question { 3578 }

wHAT IS THE DISTINCTION BETWEEN TRADE DISCOUNT AND CASH
DISCOUNT

Answer

trade discount is discount allocating the materials , cash
discount means when the payment collecting from the customer
its known as CD

Question { 30511 }

A company paid Mr.R an advance payment of Rs 5000 as tour
allowance. After the tour R, submitted travel bill with a
expense of Rs3000. He return Rs 1000 and claimed to pay the
rest 1000 on a future date. Please pass the journal entries.

Answer

1st Entry

Dr. R A/C 5000.00
Cr. Cash A/C 5000.00

2nd Entry

DR. Expenses what ever he given account of Rs 3,000.00
Cr, R a/c to 3,000.00

3rd entry
DR.Cash A/C 1000.00
Cr.R A/C 1000.00
Due to cash received from him

Remaining one thousand he have to give the account if he not
given the account, he have to pay rest of amount it will
highlight on his account.

Question { 4189 }

if rs 200 has to be charged in one A/c but had been wrongly
charged in another A/c.what entry will be pass to correct the
entry

Answer

the entry will be Journal