What is the difference between Cash accounting System and
Mercantile system of accounting
- 1 Answers
- 4883 Views
- I also Faced
- E-Mail Answers
Answer Posted / deepika
In cash accounting system, expenses and incomes are
recorded in the books only when they are paid or received
respectively.
Whereas in mercantile system of accounting, expenses and
incomes are recorded in the books as soon as they become
due.
| Is This Answer Correct ? | 8 Yes | 0 No |
Post New Answer View All Answers
A----------involves transfer of money or moneys worth from one person to another
what are the different causes for discrepencybetween the balance of cash book and pass book
Expand--------TOS
differences between liabilities and assessts
What is the treatment of Capital Work in Progress as per the International Accounting Standards.
i have need full detail of tds rules and forms submitted dovetails
what are the important steps to take during the conversion of an accounting system.
I WANT ACCOUNT ASSISTANCE INTERWIEV QUETION IN L&T
what happens to each of the three primary financial statements when capital expenditures decrease?
What is the procedure to become charted accountant in India now. Please answer this is urgent
please answer this question.the following balances were extracted from the books of modern traders on 31st dec,2010.capital(85000)fixed assets(45000)stock1-1-2010(15000)sundry debtors(20600)productive exp(3300)reserves fund(6600)discount received(800)cash in hand(6200)drawing(5000)accomulated dep.(9000)purchases(82000)bad debts(400)unproductive exp.(27400)sundry creditors(9000)sales(120000)cash at bank(25500).adjustments.stock on 31-12-2010(15000).outstanding wages (5000) write-off (600)of further bad debts. create provision for bad & doubtful debts at {5%) on debtors.unproductive expenses includes anitem of prepaid insurance (100).provide depreciation on original cost of fixed assets @ (10%).
where does the closing stock appears in the trial balance?
We have a registered dealer under APVAT Act. Our company is manufacturing & marketing of seeds. seeds exempted under vat. recently we have purchased machinery for our new plant construction, against c form. now sales tax dept.not giving the c forms, because our final product is exempted, we are not eligible for c forms. kindly clarify.
How to Calculate Mortgage?
in accounts welding institute which category will come for example 1. recruitment con.pvt ltd. is man power recruit category ,so iwant to welding institute (learning welding and fibrication)
