Interested to Buy Any Domain ? << Click Here >> for more details...
What is Account receivable & Account payable ?
- 12 Answers
- 43272 Views
- Datamatics, I also Faced
- E-Mail Answers
Answer Posted / jg
a/c receivable is the receipt of goods & services and a/c payable is the payment to be paid on goods and services.
| Is This Answer Correct ? | 1 Yes | 0 No |
Post New Answer View All Answers
What is the difference between consigner and consignee?
Expand ctc cheque?
What does the word credit mean in terms of accounting?
A firm had the following Balances on 1 January 1994: (i) Provision for bad and doubtful debts Rs 2,500 (ii) Provision for discounts on debtors Rs 1,200 (iii) Provision for discounts on creditors Rs 1,000 During the year, bad debts amounted to Rs 2,000, discounts allowed were Rs 100 and discounts received were Rs 200. During 1995 bad debts amounting to Rs l,000 were written off while discounts allowed and received were Rs 2,000 and Rs 5,000 respectively. Total debtors on 31 December, 1995 were Rs 48,000 before writing off bad debts, but after allowing discounts. On 31 December, 1995, this amount was Rs 19,000 after writing off the bad debts, but before allowing discounts. Total creditors on these two dates were Rs 20,000 and Rs 25,000 respectively. It is the firm’s policy to maintain a provision of 5% against bad and doubtful debts and 2% for discount on debtors and a provisions of 3% for discount on creditors. Show the accounts relating to provisions on debtors and provisions on creditors for the year 1994 and 1995.
Why you want to change???
if cheque bounced what we received from customers and payed to bank what entry should we create in single entry system
What are the characteristic features of financial accounting?
What are mis reports and do you prepare it?
AL+w button lanunches the .............. installed web brower
What are the AP accounting entries for EXPENSE ITEM VS Inventory Item in oracle ERP
What are the 5 basic accounting principles?
How to make deductions of the employees from salary against the loan in AP module oracle R12
After close Balance Sheet, we find a expense which was wrongly debited in Profit and Loss A/c. How we adjust next accounting period?
non cash or bank income or expense
How is the accounting for lease transactions done?
