Interested to Buy Any Domain ? << Click Here >> for more details...
What is the entry for Discount Received? & What is the
entry for discount paid?
- 13 Answers
- 67006 Views
- Azizi Bank, i4 Mobiles, WNS, I also Faced
- E-Mail Answers
Answer Posted / khazi raza mohammed
Entry for discount received
Cash a/c Dr xxxx
to discount received xxxx
(credit all incomes and gains)
Entry for Discount paid,
Discount paid a/c Dr xxxx
to Cash xxxx
(Debit all expenses and losses)
nominal rule applies.
| Is This Answer Correct ? | 23 Yes | 5 No |
Post New Answer View All Answers
What is cotangent Account?
Tell me what does the investment of personal assets by the owner will do?
What we have to post entry for payroll processing ? (Indian payroll)
A Lorry driver damaged shed shutter and we deduct 2000/- from his freight amount now what is the head for the Deducted amount?
non cash or bank income or expense
A non-function currency claim:- Employee while updating a non functional currency claim the system uses the period end rate i.e. any claim pertaining to the period 01Aug - 25th Aug. the system uses the period end rate as of July 31st. (2) Also, what is the basis of using the period end rate not the average rate for expenses claim. Can you please clarify my question.
Fundamental accounting assumptions are (a) Materiality. (b) Business entity. (c) Going concern. (d) Dual aspect
why accounting is important in business?
what is your opinion regarding T.V shows on youth
In accounting, vat abbreviates what?
we are a trading company providing devices and some times after sales service. when any defect came we just replace the hardware from another defective device and getting the payment from the customer. how can we account that? is there any tax implications for this?
WHETHER CAPITAL RESERVE CREATED OUT OF SALE OF FIXED ASSETS OVER AND ABOVE THE COST BE TRANSFERED TO PROFIT AND LOSS ACCOUNT
adams a debtor for R600 had been declared insolvent and part of his debts has to be written off. The attorneys informed you that an amount of 25c in the rand will be paid and the rest must be written off
what are the different methods of teaching share and debenture to pre degree students
how to calculate vat,pf,esi,service tax in corporate firm
