Interested to Buy Any Domain ? << Click Here >> for more details...
Sale of Rs.10000, where in 50% is on credit and there 10%
discount on the immediete payment. Pass a journal entry for
this
- 26 Answers
- 33384 Views
- Accenture, I also Faced
- E-Mail Answers
Answer Posted / manjunath
FOR SALES ENTRY.
CR SALES A/C 10000.00
DR PARTY A/C 10000.00
FOR RECEIPT GE.
CR PARTY A/C 5000.00
DR DISC ALLOWED A/C 500.00
DR CASH A/C 4500.00
| Is This Answer Correct ? | 4 Yes | 6 No |
Post New Answer View All Answers
The 'going concern concept' is the underlying basis for: 1.stating fixed assets at their historical cost 2.disclosing the market value of securities 3.disclosing the sales and other operating information in the income statement 4.none of the above
Trial balance as on 31st March, 2014 Particulars Debit Pula Particulars Credit Pula Wages 14 100 Dividends received 4 300 Salaries 13 000 Bank overdraft 41 000 Opening Stock 40 000 Returns 1 000 Machinery 49 000 Creditors 14 200 Investments 30 700 Sales 258 500 Drawings 23 000 Capital 30 000 Purchases 130 000 Returns 2 000 Debtors 18 000 Advertising 13 400 Interest 4 800 Cash 11 000 349 000 ======= 349 000 ======== Additional information: 1. Closing stock is valued at P53 000. 2. Wages include P350 being advance against wages. 3. Wages include P1 000 paid for erection of machinery. 4. A purchase of stationery for P430 has been inadvertently included in the Purchases account. 5. A sale of investments with a book value of P2 600 for P2 500 has been included in the Sales Account. 6. Salaries include P150 per month paid to the proprietor’s domestic servant. 7. Machinery is to be depreciated by 10 per cent. Required: a. The revenue statement (Trading and Profit and Loss Account) for the year ended 31st March 2014 and b. Statement of financial position (Balance Sheet) as on 31st March, 2014.
HOW WE MAKE A RESERVE AND AFTER ITS USE HOW WE NIL IT PLEASE MAKE A PROPER ENTRY.
Hello friends, I want to sk that Is computer proficiency certificate necessary at the time of SBI clerk Interview?and all other guys who have cleared the nov 2009 exam and have got the bio data form please give replies,,, waiting for replies ,thank you.
Productive Investment is Working Capital. Is it correct?
By saying, perpetual or periodic inventory system; what do we mean?
My question is on Opening & Closing Stock Suppose Closing stock of 2014-15 is Rs 30 lakhs & Also we filed return & ROC too for 2014-15. Opening stock for 2015-16 should be Rs 30 lakhs but we found that some purchase for feb & March 2015 Stock has been entered in tally Its taken directly to purchase split of stock not made & in sales to same of 2 lakhs no split of stock is shown. Those stock need to make changes in 2015-16 what was the process ? And what will be adjustment entry ?
what is the basic difference between pooling of interest method and purchase method in amalgamation
Anti Takeover policies
What is accounts receivable?
What GP resew of balance sheet taking.
Explain me some of the examples for liability accounts?
What is the difference between Accruals and Provisions?
Tell me what does the standard journal entry includes?
What is the difference between a cash flow statement and an accural profit & loss account ? And why do simple organisations do not feel the need for a profit and loss type of statement ?
