Answer Posted / dasappa.s

When a company purchased a material or goods on credit basis
then creditors will arise and for debtors vice versa. The
pending amount from the Dr or Cr will be given some period
to pay that is aging period and on this the aging analysis
will be prepared according to payments maid by Dr or Cr
The creditors should show Liabilities said in Balance sheet
and Debtors in Assets said of the Balance sheet

Journal Entry
For Creditors
Credit Purchase A/C Dr
To Cash/seller A/C
For Debtors
Cash A/C Dr
To credit sales A/C

what is a grn in terms of accounting ? what is a grnthroughpo in terms of purchase order? what is a direct grn?

4363

---

if you are a hard working nature conclude your self?

2095

---

what is the impact of bank garantee of rs 100000 on cash flow statement which has been expired...& impact on bank reconcilation statement

2232

---

Explain different branches of accounting?

1361

---

whats the sales tax slab and company's turnover professional tax slab

3418

---

what is the entry to be made for vat when any purchase is made in that bill vat amount is included ?

4393

---

What would be journal entry for--Encashed a bank draft belonging to X? Ans as given in textbook is Bank account debit to Cash account credit.......But shouldnt it be Cash account debit to Bank account credit...Wat do u guys feel??And do explain ur answers..Thnx in advance

6378

---

what role did you play in collections?

1288

---

Contrast bookkeeping and accounting

1062

---

What is the difference between depreciation and amortization?

1161

---

journal entry for goods withdrawn for personal use

2307

---

shares convert into share capital what is the journal entry? how many ledgers need to create?

2125

---

how to solve cashbook question

3320

---

What is the difference between General Ledger and Ledger?

1528

---

What is an interest rate swap

2287

---