Interested to Buy Any Domain ? << Click Here >> for more details...
In the General Ledger.. When putting discounts, you put discounts on the DR side for Creditors and Discounts on the CR for Debitors.. Which side does discount go on for the rest of the accounts such as Purchases, M Dog, L Shirt, and L Dress?
- 1 Answers
- 2462 Views
- I also Faced
- E-Mail Answers
Answer Posted / deshvrat rai
We can write only cash discounts in our book of accounts, and it is available for our debtors and creditors only . Discount other than cash discount is trade discount. We can not write trade discount in our books. We write it by decreasing the price amount. Exp. List price of a mobile phone is Rs. 15,000/- . Seller is allowing discount of Rs. 1000/- each. Hear in the books of seller Sales a/c will be credited by Rs. 14,000/- only, and discount will not be visible in the books.
| Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
hai! i am a BE(computer science) graduate with 54% of aggregate looking for bank clerk job? in interview they are asking why are you looking for a bank job and what guareente that once you are selected ? plz guide me?
simply define shares and debentures
what is the performa of bank reconcilation ? i want to need it and also i want to know about tds entry for various sources such as rent,contractor, commission, etc. and how we make the tds return, please tell me its very urgent?
Tell me the stages of double entry system?
What is the use of form D in sale tax
I select in Vendor Master - in defualt data material - Purchasing Group as a Subcontractor but how to get report or list only Subcontractor Vendor Master in sap?
Hi.. I am pursuing my MBA II year thrgh distance frm O.U HYD., Pls let me know any jobs...in Bank jobssssss
What is royalty reserve?
Q1.How depreciation deffer from depletion? Q2.show the main benefit from calculating and recording depreciation.
my brother is out of country i have lost his bank passbook when i was going to bank for the entries is their essential to take duplicate pass book can my brother is present for this.
cheque deposit is a contra entry?
Do you know what is balance sheet?
Do you know what is icai?
Spinoff,Spelloff
Is there any circumstance where an accountant is allowed to depart from accounting standards while preparing financial statements? If yes explain why, if no explain no.
