CHEQUE ISSUED TO ABC 20000 & DISSOUNT RECEIVE 2000
THE CHEQUE DISSONORED
WHAT ENTERY THIS TRANSACTION
Answer Posted / simar
Bank a\c dr 2000
To discount received a\c 2000
Cheque has been dishonured that's why payment entry will
not be passed.
| Is This Answer Correct ? | 1 Yes | 3 No |
Post New Answer View All Answers
Tell me what do you think is bank reconciliation statement?
What is the provision? What is the entry for provision?
what are the basic elements to prepare a quarterly information system and how to calculate that items?
Define dual aspect term in accounting?
Purchase and sales sahres accounting entry which have stt brokerage and other taxes
Can you differentiate public and private accounting?
Entry for revenue item will be Expenses A/C Dr to Cash. But in the Profit and Loss account we will see the expenses with a pre fix of To Expenses Why?
What is fiduciary accounting?
What Is Differ tax,
2. A budgeted profit statement of a company working at 75% capacity is provided to you 2 below, Sales 9,000 units at Rs. 32 Rs. 2,88,000 Less: Direct materials Rs. 54,000 Direct wages 72,000 Production overhead: fixed 42,000 variable 18,000 1,86,000 Gross profit 1,02,000 Less: Administration, selling and distribution costs: fixed 36,000 varying with sales volume 27,000 63,000 Net profit 39,000 You are required to: (a) Calculate the breakeven point in units and in value. (b) It has been estimated that: (i) if the selling price per unit were reduced to Rs. 28, the increased demand would utilise 90% of the company's capacity without any additional advertising expenditure, and (ii) to attract sufficient demand to utilise full capacity would require a 15% reduction in the current selling price and a Rs. 5,000 special advertising campaign. You are required to present a statement showing the effect of the two alternatives compared with the original budget and to advise management which of the three possible plans ought to be adopted, i.e., the original budget plan or (i) above or (ii) above. (c) An independent market research study shows that by spending Rs. 15,000 on a special advertising campaign, the company could operate at full capacity and maintain the selling price at Rs. 32 per unit. You are required to: (i) Advise management whether this proposal should be adopted.
Explain me what makes a successful account manager?
Explain me the difference between public and private accounting?
How can you do credit control?
Where do we create House banks and what is the process in sap fico
swagat staryed business on 1st jan 2005 with cash on hand Rs. 10000