Interested to Buy Any Domain ? << Click Here >> for more details...
What is AR, AP, what transctions comes under this.
- 1 Answers
- 3669 Views
- ABC, I also Faced
- E-Mail Answers
Answer Posted / ahujasahil
Accounts Receivable is the money owed by the customers for goods or services bought on credit. A receivable account can be created by someone who sells goods or services and extends a line of credit to its customers.
Similarly Accounts payable is the obligation of a business that is originated because of purchases made on credit (e.g. for raw material, finished goods etc.), the money is yet to be paid for these transactions.
I found 2 good articles for you on this
http://www.accountingcapital.com/revenues/accounts-receivable/
or
https://en.wikipedia.org/wiki/Accounts_receivable
&
http://www.accountingcapital.com/expenses/accounts-payable/
or
https://en.wikipedia.org/wiki/Accounts_payable
Thanks!
| Is This Answer Correct ? | 2 Yes | 0 No |
Post New Answer View All Answers
EXPAND_________SEAMEC
What is Goods Lost by Fire/Accident/Theft ?
Distinguish capital and revenue expenditure
What is the value of inventory as per Financial Accounts (AS2) and as per Cost accounts? Someone told me that as per cost accounts only works costs is considered in CARR while for FA, AS2 is followed with cost or NRV whichever is lowewr? Please explain the difference.
What are the things are not Included in Annual Reports?
Short Answer on _____________Revenue Budget
HI, FREINDS, I WANT TO KHOW IS THE CFP (CETICFIED FINANCIAL PLANNER) IS A GOOD COURSE, IS THEY ANY INSISTUTE IN HYDERABAD,IF ANY ONE DOING THIS COURSE PLEASE REPLY ME.
what is accounting in automobile
Nature of training account with reason
I am going to attend an interview for the post of jr. Accounts Officer in airport authority of india,pls help me to prepare for the interview??
Classify bank account, stock of stationary account, returns inward account ou$tstanding rent account and capital account into real, personal and nominal account.
hi.this krishan .i m slect in axis bank for executive. when i sposse to join
What is the difference between Risk, Threat & Hazard?
Data for two divisions of Alpha Biotech Ltd. Are given below. Analyze both divisions. Parameters Division X Division Y Rs. Rs. Capital Employed 50,00,000 50,00,000 Sales 30,00,000 28,00,000 Cost of Goods Sold 21,00,000 18,00,000 Profit Before Tax 9,00,000 10,00,000 Tax 2,70,000 3,00,000 Profit After Tax 6,30,000 7,00,000 Data for two divisions of Alpha Biotech Ltd. Are given below. Analyze both divisions. Parameters Division X Division Y Rs. Rs. Capital Employed 50,00,000 50,00,000 Sales 30,00,000 28,00,000 Cost of Goods Sold 21,00,000 18,00,000 Profit Before Tax 9,00,000 10,00,000 Tax 2,70,000 3,00,000 Profit After Tax 6,30,000 7,00,000 Data for two divisions of Alpha Biotech Ltd. Are given below. Analyze both divisions. Parameters Division X Division Y Rs. Rs. Capital Employed 50,00,000 50,00,000 Sales 30,00,000 28,00,000 Cost of Goods Sold 21,00,000 18,00,000 Profit Before Tax 9,00,000 10,00,000 Tax 2,70,000 3,00,000 Profit After Tax 6,30,000 7,00,000 Data for two divisions of Alpha Biotech Ltd. Are given below. Analyze both divisions. Parameters Division X Division Y Rs. Rs. Capital Employed 50,00,000 50,00,000 Sales 30,00,000 28,00,000 Cost of Goods Sold 21,00,000 18,00,000 Profit Before Tax 9,00,000 10,00,000 Tax 2,70,000 3,00,000 Profit After Tax 6,30,000 7,00,000
Expand-------IETF
