Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / saif
A debtor/Accounts receivable is a person who owes to money to the business as he has received some benefit from the business.
A Creditor/Accounts Payable is a person to whome the business owes money as he has given some benefit to the business.
| Is This Answer Correct ? | 27 Yes | 8 No |
Post New Answer View All Answers
Cost Accounting
RPC Ltd. follows the written down value method of depreciating machinery year after year due to (a) Comparability. (b) Convenience. (c) Consistency. (d) All of the above
Under what type of account do the unearned revenues fall?
if my salary is 12000 per month how much i will get after deducting PF an ESI
Follow up ageing balances of Debtors & Creditors and also Inventory
what is t code of all expences general legder?
Purchase and sales sahres accounting entry which have stt brokerage and other taxes
List out things that fall under intangible asset?
what are the charecteristics of cost accounting financial accounting managment accounting payroll accounting environmental accounting h r accounting forensic accounting inflation accounting?
Capital reserve is - a) real account b) nominal account c) personal account d) none of them
Explain me the term material facts in accounting?
pass the journal as wellas ledger entries off the foll 1st jan :> started businress with cash rs 1,20,000 & goods worth rs 60,000. 2nd jan > cash purchases rs 50,000. 4th jan >cash sales rs 40,000. 6th jan > purchase good's from sonali on credit worth rs 30,000 at 10 % trade discount. 8th jan> sold sood's to komal on credit rs 20,000 at 10% trade discount. 10th jan > paid rent by a cheque rs 50,000. 12th jan > good's worth rs 4,000 lossed by fire. 14th jan > good's worth rs 3,000 withdrawn from business for personal use. 16th jan > good's worth rs 2,000 distributed as free samples. 18th jan > good's worth rs 1,000 exchange for furniture.
Explain compound journal entry.
Is financial accounting necessary?
Expenses which are incured during the manufacturing are direct expenses.In that case,what are the direct expense in a trading firm where there is no production.Like salary, rent, electricity etc in a trading firm
