Answer Posted / anusha

Purchases are treated as expenses.
Expenses - nominal account -debit all expenses
so purchases account is debit.

Mr.X is an creditor because company owes to mr.x
mr.x - oersonal account- credit the benifit giver
so mr.x account is credit

What is Time capital

2115

---

How is the accounting for hire purchase transactions done?

1063

---

In accounting, are assets a permanent account?

1234

---

When we are doing the reconciliation process in cash management please tell me what are the different status will happen and when will it happen. Please help me out.

1926

---

What are the fictitious assets?

1081

---

If company invest Rs. 3,00,000 in Chit & Fund and later received with Profit Rs. 3,50,0000 = (Rs. 3,00,000 + 50,000 profit amount). Pls advise how to pass the profit amount...and in which head the profit amount goes

2574

---

What is process of Vendor Reconciliation and which items will be Add and Less from ad per customer books likes step by step 1-Credit Note shown in vendor a/c but not booked in our a/c- Add or Less 2-Debit Note not shown in vendor a/c but booked in our a/c - Add or Less 3-Invoices not booked in our a/c but shown in vendor a/c- Add or Less 4-Payment booked in our books but not shown vendor- Add or Less If our balance is plus or minus rules is same. like 20000, (-20000) Sir, Provide your mobile n for clarify

1700

---

is goods in transit will be liable for entry tax ?

1672

---

Explain what does the standard journal entry includes?

1002

---

What is peach tree accounting?

1081

---

What are assets minus liabilities?

1021

---

What is the difference between Accruals and Provisions?

1622

---

HOW WE MAKE A RESERVE AND AFTER ITS USE HOW WE NIL IT PLEASE MAKE A PROPER ENTRY.

2022

---

hi to all.... what is the treatment for Work-In-Progress in Tally...please answer for it as early as possible... thanks & regards

2098

---

What is accounting & why it is used?

1100

---