Where do you post Credit Sales in Trading or P& L Account,
or should we deduct from the actual sales and put the net
figures in the column. Clarify
Answer Posted / hrishikesh
All the sales should be shown in Trading account only but
need to classify into cash sales and credit sales.we can
not deduct the actul sals from credit sales.
| Is This Answer Correct ? | 38 Yes | 1 No |
Post New Answer View All Answers
Define dual aspect term in accounting?
What is diffrence Between GPF and EPF?.. can anybody explain..?
what is the entry of credit card received excess amount entry in tally and their under group names
Explain how you can adjust entries into account?
what TYPE OF INVOICE SHOULD RAISE TO C&F agent ?
What are the rules for debit and credit for different accounts to increase the amount in your business accounts?
Equipment A has a cost of Rs.75,000 and net cash flow of Rs.20000 per year for six years. A substitute equipment B would cost Rs.50,000 and generate net cash flow of Rs.14,000 per year for six years. The required rate of return of both equipments is 11 per cent. Calculate the IRR and NPV for the equipments. Which equipment should be accepted and why?
What is departmental accounting? Give an example
Explain dual aspect term in accounting?
what is t code of journal voucher report with amount?
What is journal entry for salary paid less deductions (e.g. fines for breaking a company's property)?
What is use of subject history in banking?
What are the disadvantages of double entry system?
Can share warrants issued by the company be considered as potential equity shares? If yes, then will it be considered for calculating dilutive EPS?
consultancy charges receivable Rs 30000 from abc & co. tds receivable 3000