In addition to trade discount the party has also given cash discount at the time of making complete payment how the same is accounted?

MURUGAN A

• Jul 21st, 2018

Bank account A /c dr.
cash discount A/c dr.
Customer A/c

Note : trade discount should not account.

Answer Question  Select Best Answer

Mr.x purchased a building for 55 million dollars and took depreciation on it for complete 39 years and now his son want to sell the building but as he claimed the amount for complete 55 million through out the years. On what basis now he need to sell the building. For only 55 Million or For How Much?

veena

• May 9th, 2017

55 million dollors and above

Answer Question  Select Best Answer

I want to know TDS will be collected in what percent. Service Tax in what percent generally they will collect. And other taxes also.

Manjunath.kotagi

• Dec 4th, 2016

For service rendered invoice we need to deduct TDS, if vendor Pan# 4th letter is P we have to deduct 1% on base amount, if 4th letter is C or F or any, we need to deduct 2% TDS, if the invoice related...

Answer Question  Select Best Answer

In case of credit sales return, debit the sales ledger and credit the party ledger is this true or false

Vinod kumar Reddy

• Nov 21st, 2018

True
when credit sales happen then the entry will be
Debtor/third party a/c DR
To Sales a/c CR
when those sales are returned then the entry will be
sales return a/c DR
To Debtor/third party a/c

Answer Question  Select Best Answer

Provision entries cannot be recorded in Tally ERP 9 is this true or false

priya verma

• Jan 22nd, 2019

Yes, provision entries can be entered in tally erp9

Answer Question  Select Best Answer

rama krishna, chirala

• Jul 26th, 2007

Generally accounting is the art of recording, clasyfing ,and summarising the business transactions. here the second one classifying which deals with the partitioning of activities in different groups

giri

• Mar 24th, 2006

Partitioning is nothing but grouping based on the cluster which is similar kind of response by a system..

Answer Question  Select Best Answer

Rashmi_Nair

 Profile Answers by Rashmi_Nair Questions by Rashmi_Nair

• May 28th, 2008

An Inactive Account is A brokerage account in which few transactions take place. Some brokerage firms levy a fee on accounts in which securities are deposited but no activity occurs during a spec...

satya

• Aug 20th, 2006

Dormant accounts are those accounts in which there are transactions in the recent history(the stipulation may vary according to the company's rules).  InActive accounts are those accounts in which transactions are being made for long time.

Answer Question  Select Best Answer

UshaRani.R

• Mar 1st, 2007

Timesheet is a record of workers working hours in a factory.It could be used to calculate the average hours - delays and avoidance caused due to break down of machinery,failure of electricity,time tak...

Viswanath

• Aug 28th, 2006

Timesheet is an approved document by a Authorised person of the particular Porject where employee is working , for the work done by the Concerned employee/consultant along with the descreption of work...

Answer Question  Select Best Answer

balaganesh

 Profile Answers by balaganesh Questions by balaganesh

• Nov 7th, 2006

Transactions that take place after the closure of financial books, but before placing it in AGM.

prasanth

• Aug 14th, 2006

 Transactions which happened due to catastrophic events i.e unsual circumstance example: earthquake, flood, psunami etc are called extraordinary items.

Answer Question  Select Best Answer

balaganesh

 Profile Answers by balaganesh Questions by balaganesh

• Nov 7th, 2006

1) Make the creditor, your debtor 2) For good creditor, give discounts & offers3) For bad creditor, inform your position of willingness but inability to sustain relationship keeping in mind our business position.

pankaj kumar mehta

• Oct 19th, 2006

credit control is done by two way one is with the help of govtanother is ,with the help by govt+central bank of a conturyfor e.g. change in bank rate,change in margin requirement of loan,change in cash reserve ratio ,change in liquidity ratio ,change in tax rate etc. 

Answer Question  Select Best Answer

Swapna

• Sep 4th, 2007

Equals net income minus all recognized changes in equity during a period

JoannaSmith

• Apr 15th, 2007

Items GAAP does not want us to record in Income Statement.  GAAP does not want financial statements provider to mislead users. Ex. items will record in comprehensive income are Unrealized gain or...

Answer Question  Select Best Answer

R Suman Singh

• Aug 24th, 2007

According to double entry system of accounting, Debit side total and credit side total of an account should be equal. Hence making the debit side total and credit side total equal is called as Balancing.

SONIA AGARWAL

• Feb 6th, 2007

Balancing means total of Dr. and Cr. sides are equal.

Answer Question  Select Best Answer

G.kiran

• Sep 5th, 2007

A form of financing in which large capital expenditures are kept off of a company's balance sheet through various classification methods. Companies will often use off-balance-sheet financing&...

saniya nooreen

• Dec 24th, 2006

Balance sheet is a statement which consist if asset and liabilities balance sheet is not called as account .their are 2 columns  in balance sheet left hand side is called liabilities and right hand side is called asset .

Answer Question  Select Best Answer

Arun V B

• Jul 27th, 2011

Shadow Balance in bank accounts is the balance upto which the subsequent debits/credit can be posted upto. Shadow Balance = Book Balance - Debit/ Book Balance+Credit (yet to be authorised for postin...

vasudeo007

 Profile Answers by vasudeo007 Questions by vasudeo007

• Aug 19th, 2008

Shadow balance is that balance which is not yet clear.Consider any company's case.Company has given money to someone by a cheque. Then they have shown in their cash book that money has been given....

Answer Question  Select Best Answer

vasudeo007

 Profile Answers by vasudeo007 Questions by vasudeo007

• Oct 6th, 2008

The word budget means financial planning activity.Capital Budgeting means financial planning for long term capital expenses.A company may think of diversification, backwardation, forwardation, merger ...

thrilldhill

 Profile Answers by thrilldhill Questions by thrilldhill

• Jun 1st, 2007

Capital Budgeting is a way to justify capital expenditures.  It's done to see if the added benefit of a capital purchase, ie increased revenue or decreased expense, exceeds the cost of capital.

Answer Question  Select Best Answer

mohdazam

 Profile Answers by mohdazam Questions by mohdazam

• Feb 24th, 2007

BIILS RECEIVABLE IS AN CURRENT ASSET TO THE BUSINESS, WHEN V SELL TO ANY CUSTOMER IF HE CANT PAY THE AMT V GIVE HIM A DOCUMENT ASKING HIM TO PAYING WITHIN A SPECIIFIED  TIME.EXAMPLE : MR.X SOLD G...

shailendra kumar

• Dec 28th, 2006

BILLS RECEIVABLE, in merchant accounts, are all promissory notes, bills of exchange, bonds, and other evidences or securities which a merchant or trader holds, and which are payable to him.

Answer Question  Select Best Answer

rama krishna, chirala

• Jul 20th, 2007

Capital receipt is a receipt when you sold any business asset like building, machine, furniture etc. Where as revenue receipt refers to receipt of sale proceeds, comission received, tax refund etc.

naveen hp

• Jul 13th, 2007

A capital receipt is a receipt which is derived from sale or purchase of capital assets like plant and machinery, furniture, investment (long term) etc., which shall not be occuring all the time. ...

Answer Question  Select Best Answer

Bridge loan means temporary finance provided to the company to finish of the project after that the company needsto repay the loan.

cashflow

 Profile Answers by cashflow Questions by cashflow

• Jan 27th, 2008

A bridge loan is interim financing for an individual or business until permanent or the next stage of financing can be obtained.

seelujangra

 Profile Answers by seelujangra Questions by seelujangra

• Jan 16th, 2008

Bridge loans are an effective vehicle to immediately capitalize on a purchase opportunity. It is a form of short-term financing which is expected to be paid back - generally within the range of 6 to 3...

Answer Question  Select Best Answer

How do you calculate sensex points?

vasudeo007

 Profile Answers by vasudeo007 Questions by vasudeo007

• Aug 19th, 2008

Sensex or for that matter any index in any capital market acts as the barometer of the economy. When economy is on rise then the index shoots up and vice-versa.There is presumed to be co-relation betw...

priya

• Nov 27th, 2007

SENSEX is calculated using the "Free-float Market Capitalization" methodology. As per this methodology, the level of index at any point of time reflects the Free-float market value of 30 com...

Answer Question  Select Best Answer

How can we caluculate HRA, DA, DP in taxation.

amarnath111

 Profile Answers by amarnath111 Questions by amarnath111

• Jul 30th, 2009

DA is calculated on certain % fixed on basic & there is no rules for DA calucalation

amarnath111

 Profile Answers by amarnath111 Questions by amarnath111

• Jul 30th, 2009

HRA calculated as1. 40% (in case of other cities) & 50% (in case?of metro cities)?of?the saalry2. Rent paid - (minus) 10% of the salary3. Actual HRA received

Answer Question  Select Best Answer