Interested to Buy Any Domain ? << Click Here >> for more details...
An advance of Rs 10000/- is received from customer.
pass necessary journal entries
- 16 Answers
- 53429 Views
- I also Faced
- E-Mail Answers
Answer Posted / vaudevan
There must be some purpose for which Advance is paid by the customer. That is either for material or for the service . So Direct entry mentioned by others like
Cash A/c Dr
To Advance
will not serve the management purpose. Also the customer from whom Advance is not reflected in the above. there it is better to have
Cash A/c Dr
To Advance
Advance a/c Dr
To Customer.
Customer a/c will be in negative or Credit. But at billing we are going to debit him like
Customer A/c Dr
Customer
Vasudevan
| Is This Answer Correct ? | 1 Yes | 0 No |
Post New Answer View All Answers
ER-1, ER-2,ER-3,ER-4,ER-5,ER-6,ER-7 plz tell me use of these excise form
A sample book on interviews is ready for free circulation with 7 chapters i.e Journal entries helpful for various occassions,Terminology,Abbreviations,Test your terminology,Multiple answers, Fill in blanks and Income tax send your requisition for Free Book Immediately to satyaki_raju@yahoo.co.in
why do you want to work here?
AN ESTIMATE OF ASSETS AND LIABILITIES ON AGIVEN DATE
The partners agreed to take hero honda vehicle of Rams as firms vehicle by giving credit to his capital account. The vehicle was valued for Rs 65000/-Pass necessary entry
what do u mean by arrear basic or arrear hra?
Expand---------DBPC
Expand DPCO
.,can someone tell me how to compute the subscribed capital share?
HOW CALCULATE ADVANCE TAX ? PLEASE EXPLAIN IT ?IN CASE OF FIRM, IF WE PAID FIRST INSTALMENT OF ADVANCE TAX.
define accounting,scope of account , types of account ?
what is ledger account
How can someone prepared for Syndicate Bank Interviw? Do interviewer going to ask any aptitude questions or will it be similar to other PO Interviews? Answers solicited..
You use the accounts approach for parallel valuation in a new G/L system. If you used the ledger approach instead. Which objects would be different? ( any 3 answer) Chart of accounts Financial statement version Depreciation areas Asset classes Leading ledger
company's total overhead expense is containing which are the expenses? Definition of overhead expense.
