Where do you post Credit Sales in Trading or P& L Account,
or should we deduct from the actual sales and put the net
figures in the column. Clarify
- 5 Answers
- 13956 Views
- I also Faced
- E-Mail Answers
Answer Posted / toms thankachan
all the sales should be shown in Credit side of the Trading
account.
All the sales invoices have to be entered as sales and on
payment reciepts we can use the cash voucher to record the
cash receipts & others will remain as outstanding.
This case is generally applicable in case of B2B.
| Is This Answer Correct ? | 1 Yes | 0 No |
Post New Answer View All Answers
Explain which accounting application you prefer most and why?
Can a company deduct TDS & provide TDS certificate for a bill without actually making payment towards the same??
Explain how you can adjust entries into account?
What are the various systems of accounting? Explain them.
Spinoff,Spelloff
when we purchase of tractors and two wheeler vehicle from other state what we get taxes exemptions
M/s ABC Brothers, which was registered in the year 2000, has been following Straight Line Method (SLM) of depreciation. In the current year it changed its method from Straight Line to Written Down Value (WDV) Method, since such change would result in the additional depreciation of Rs. 200 lakhs as a result of which the firm would qualify to be declared as a sick industrial unit. The auditor raised objection to this change in the method of depreciation. The objection of the auditor is justified because (a) Change in the method of depreciation should be done only with the consent of the auditor (b) Depreciation method can be changed only from WDV to SLM and not vice versa (c) Change in the method of deprecation should be done only if it is required by some statute and change would result in appropriate presentation of financial 6 statement (d) Method of depreciation cannot be changed under any circumstances
How is an accounting department structured?
WRITE ABOUT ANY 1 "WOMENS ARE BEST MANAGEMENT PERSON" "IF UR FINANCE MINISTER OF INDIA" "V R RESPONSIBLE FOR OUR ENVIRONMENT"
what made you take up present subject/area of specialization and what would you define as your career objectives
how to calculate accrued interest on fdr?how to see from bank statement????basic procedure plz advice..
Mobile on Rupees 2000 purchase for office use not for staff....What entry in accounts..?????
Do you have any idea about gst?
What is your greatest achievement and why?
What are the 5 basic accounting principles?
