Answer Posted / chandu
Debtor: The company,firm,person are the services,sales,
work done provided to the other person,firm or company and
amounts receivable from them those are called debtors. for
example : X is provided to services/sales/work done to Y
i.e., Y debtor for X.in the case X is amounts receivable
from Y.
Creditor: X is purchased the materials or services rendered
in credit basis from Y i.e., Y is creditor to X.in the case
X is amounts payable to Y.
| Is This Answer Correct ? | 10 Yes | 1 No |
Post New Answer View All Answers
What are the two most important Factor that should be kept in mind when there is a buy back of shares in companies as per indian companies act,1956
Sir, I want to know about Entry Tax. I purchased the Packing Box from other state.the entry tax on the packing items is 5 %.but now sale tax deptt. close the entry tax on barrier. the tax will be deposited with return. sir we want to know can i deposit this entry taxon on CST challan or not. if not then how can i deposit, or which cloumn in return shown this amount. please send the return format my mail ID is happynlg@gmail.com
Tell me under the accrual basis of accounting, when revenues are reported in the accounting period?
where to show Preliminary expenses except "Statement of changes in working capital" in Fund flow statement?
What is compound journal entry?
Explain what is ledger?
If A Company pays amount thru bank for a supplier deducting tds on behalf of B company. Accounting entries to be made in company A and B
What is the difference between lc and bg(letter of credit
Tell me what are the activities that includes in cash flow statement?
what is debit balance report in SAP?. how do you describe DB report in brief.
A manufacturer want to sale his product in Rs 110/ where his manufacturing cost is 100.what will be tax for the product in different way.If he want to sale his product outside the state then what will be the taxation way. I want to know as urgent.Hope you will describe me as brakewise statement with example.
Expenses which are incured during the manufacturing are direct expenses.In that case,what are the direct expense in a trading firm where there is no production.Like salary, rent, electricity etc in a trading firm
Give ONE reason for Balance Sheet to be out of balance
in tally ,professional fees head will come under which income group ,direct or indirect if the business of owner is designing work or related to creativity
Explain things that fall under intangible asset?
