How to pass advance entry in tally, and how it should adjust
against future invoice.?
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Answer Posted / reddy
1.PARTY ADVANCE A/C Dr xxx
TO CASH/BANK A/C xxx
(BEEING ADVANCE PAID TO PARTY OR (SUPPLIERS).
ADJUSTMENT OF ADVANCE :-
2. PARTY"S A/C Dr xxxx
TO PARTY ADVANCE A/C xxx
TO CASH/BANK A/C xxx
(BEEIN WE PICKED PARTY ADVANCE FROM PARTY ACCOUNT)AND
ADJUSTED THE PARTY ACCOUNT)
| Is This Answer Correct ? | 75 Yes | 28 No |
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VAT PER SURCHARG KAB SE KIS DATE SE LAG RAHA HAI
Alex’s Trial Balance at 31 December 2015 Dr (BWP) Cr (BWP) Capital 18 240 Bank overdraft 3 000 Fixtures and fittings 14 100 Provision for depreciation-fixtures and fittings 8 800 Inventory 14 200 Trade receivables 12 300 Trade payables 9 900 Revenue 110 000 Purchases 51 000 Discount received 1 800 Wages and salaries 26 000 Sundry expenses 34 000 Discount allowed 620 217 540 ======= 86 420 ======== Required: i Prepare the corrected trial balance at 31 December 2015. (7 marks) ii Show any difference you find as a balance on an appropriate account.
