What will be journal entry of cost of goods sold.
Answer Posted / ramakrishna s
CASH A/C ............DR
TO SALES A/C
(HERE IN THE QUESTION, PARTIES HAVE NOT MENTIONED MORE OVER
IT IS COST INVOLVED WHILING SELLING SO WE USE CASH A/C BY
DEFAULT...)
| Is This Answer Correct ? | 4 Yes | 4 No |
Post New Answer View All Answers
Capital secure should be shown in which side of the balance sheet?
What is the purpose of accounts like e.g. expense accounts assigned a account number 0040, principal account assigned anumber 0060.In our general ledger software such numbers are assigned.I want to know how these numbers (accounts) help in maintaing accounts of a company (like bank reconciliation).
Why are accounting standards necessary?
During execution of Works Contract,If Contractee(Customer) supply goods to contractor, then it should be shown in Invoice as deduction or no need to show in Invoice.
Mention what does the investment of personal assets by the owner will do?
Scheme is given by a company to his distributors on sale of goods, what is the treatment of this scheme distributors hand Direct income or indirect income
What are the disadvantages of double entry system?
Explain me the term material facts in accounting?
What elements of your job do you find most difficult?
What can go wrong if you have a balance sheet with a lot of debt? What can go wrong if there is negative owner's equity? What does a good cash flow statement look like and why?
Explain me do you think accounting standards are mandatory and why?
Unrealised profit will be debited to ?
By saying, perpetual or periodic inventory system; what do we mean?
were you happy with the grades you achieved at a-level?
What are the difference between Debit Memorandum and Credit Memorandum?