Interested to Buy Any Domain ? << Click Here >> for more details...
general entry for credit purchases, credit sales, golden
rules of accounting,what is contribution.
- 11 Answers
- 24263 Views
- Genpact, LG, I also Faced
- E-Mail Answers
Answer Posted / sahil ahuj
1 Purchase AC DEBIT
To Supplier AC CREDIT
2 Buyer/Party AC DEBIT
To Sales AC CREDIT
3 Real Acs (Dr What Comes in & Cr. What Goes Out)
Personal Acs (Dr. the Receiver and Cr. The Giver)
Nominal Acs (Dr All Exp $ Losses , Cr All Incomes & Gains )
4 Contribution = Sales - Varibale Cost or Selling Price/Unit - Variable Cost Per Unit
| Is This Answer Correct ? | 5 Yes | 1 No |
Post New Answer View All Answers
What is the abbreviation for the accounting terms debit and credit?
Journalise- opened a saving a/c with S.B.I. ?
Recall a time when you faced a dissatisfied and aggressive customer. How did you handle it?
Differentiate between provision and reserve?
what is a difference between public and private accounting?
What are the steps to take before you approve an invoice for payment?
Trial balance as on 31st March, 2014 Particulars Debit Pula Particulars Credit Pula Wages 14 100 Dividends received 4 300 Salaries 13 000 Bank overdraft 41 000 Opening Stock 40 000 Returns 1 000 Machinery 49 000 Creditors 14 200 Investments 30 700 Sales 258 500 Drawings 23 000 Capital 30 000 Purchases 130 000 Returns 2 000 Debtors 18 000 Advertising 13 400 Interest 4 800 Cash 11 000 349 000 ======= 349 000 ======== Additional information: 1. Closing stock is valued at P53 000. 2. Wages include P350 being advance against wages. 3. Wages include P1 000 paid for erection of machinery. 4. A purchase of stationery for P430 has been inadvertently included in the Purchases account. 5. A sale of investments with a book value of P2 600 for P2 500 has been included in the Sales Account. 6. Salaries include P150 per month paid to the proprietor’s domestic servant. 7. Machinery is to be depreciated by 10 per cent. Required: a. The revenue statement (Trading and Profit and Loss Account) for the year ended 31st March 2014 and b. Statement of financial position (Balance Sheet) as on 31st March, 2014.
what is the difference between accounting and bookkeeping?
Where do we show "Dividend paid in FFS ,either in FFO or in FFS? what is teh concept behind?
Tell us what is your proudest accomplishment?
Can you help me to pass the journal entry for work in progress for a construction company? I would like to know the debit and credit for W.I.P will be under in which accounts head. Eg: debit will be in current asset a/c head, and credit will be under in which a/c in P&L? whether under purchase a/c head, or under direct income a/c head? please give me the details. Thanks for your previous answer?
swagat staryed business on 1st jan 2005 with cash on hand Rs. 10000
VAT PER SURCHARG KAB SE KIS DATE SE LAG RAHA HAI
What is an accounting loss?
Please give me a suggession to calculate the T.D.S,E.S.I,P.F, From salary which is in gross Rs. 15000/.
