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Ask QuestionPosted by Sumit Bisht 6 years, 8 months ago
- 1 answers
Yogita Ingle 6 years, 8 months ago
Debit Note : This is referred to a note that is issued by the business to the other concerned parties. It represents the details and reasons for debiting the concerned party's account.
Example: Goods worth Rs 2,000 returned by the business to Mr. Ramesh (a supplier).
In this case, Ramesh's Account will be debited with Rs 2,000 as the goods purchased from him were returned to him. A issue of Debit Note in this case explains that Ramesh A/c has been debited with Rs 2,000 with explanation, i.e. due to the goods returned by the business.
Posted by Kumar Deepankar 6 years, 8 months ago
- 0 answers
Posted by Sneha Supakar 6 years, 8 months ago
- 0 answers
Posted by Anmol Kaur 6 years, 8 months ago
- 1 answers
Yogita Ingle 6 years, 8 months ago
| A discount given by the seller to the buyer as a deduction in the list price of the commodity is trade discount. | A deduction in the amount of invoice allowed by the seller to the buyer in return for immediate payment is cash discount. |
| To facilitate a bulk sales. | To facilitate a prompt payment. |
| It is shown in invoice as a deduction itself. | It is not shown in invoice. |
| It allowed at the time of purchase. | It allowed at the time of payment. |
| Allowed to all customers | Its not allowed to all customers |
Posted by Arjun Singh 6 years, 8 months ago
- 0 answers
Posted by Pràmød Gūptã 6 years, 8 months ago
- 1 answers
Rohin Kumar 6 years, 8 months ago
Posted by Abhijit P 6 years, 8 months ago
- 1 answers
Deepanshu Jain 6 years, 8 months ago
Advance is used for the incomes when these received early.
Prepaid is used for expenses when they are paid before they arise.
Posted by Raj Raghuvanshi 6 years, 8 months ago
- 2 answers
Posted by Ghasita Ram 6 years, 8 months ago
- 1 answers
Yogita Ingle 6 years, 8 months ago
(1) High Cost of Training: Besides the high cost of computer system, huge money is required to get the trained specialised staff to ensure efficient and effective use of computerised systems.
(2) Danger of System Failure: The danger of system crashing due to hardware failure and the subsequent loss of word is a serious limitation of this system.
(3) Staff Opposition: Whenever the Accounting System is computerised, there is a significant degree of resistance from the existing staff because of the fear that they shall be less important to the organisation.
(4) Disruption: The accounting process suffer a significant loss of work and time when an organisation switches over to this system. This is due to the changes in the working environment that requires accounting staff to adapt to new system and procedures.
Posted by Abhi Bhati 6 years, 9 months ago
- 1 answers
Gayatri Nanda 6 years, 8 months ago
Posted by Mahi Gupta 6 years, 9 months ago
- 2 answers
Seema Agrawal 6 years, 8 months ago
Unearned income means income received which is not earned.. That means you had received income for which work have to be done and thereby it creates the liability. You can also say advance received..
In balance sheet you have to show it in liability side as it creates the liability.
Gayatri Nanda 6 years, 8 months ago
Posted by Mahi Gupta 6 years, 9 months ago
- 1 answers
Deepanshu Jain 6 years, 8 months ago
This income means when we had performed the task but the fees/ amount is still not received so for that person it is earned income.
For ex. Mr A teacher taught a child for 1 month & he dididi received the fees yet then the amount for Mr A is earned income..
Posted by Adarsh Sharma 6 years, 9 months ago
- 1 answers
Yogita Ingle 6 years, 9 months ago
BRS is not a part of double entry system, it is just a statement prepared to find out the reasons for disagreement between the bank statement balance and cash book balance of the bank.
Posted by Pranjal Saini 6 years, 9 months ago
- 1 answers
Yogita Ingle 6 years, 9 months ago
Financial statements serves as a means of communicating information about the profitability (income statement) and the financial position (Balance Sheet) of the business in a concise and understandable manner at the end of accounting period.
Posted by Sikha Raju 6 years, 9 months ago
- 1 answers
Posted by Sikha Raju 6 years, 9 months ago
- 1 answers
Posted by Annu Banjara 6 years, 9 months ago
- 1 answers
Posted by Abhinash Baro 6 years, 9 months ago
- 0 answers
Posted by Dolly ?️ 6 years, 9 months ago
- 1 answers
Posted by Shah 8Bp 6 years, 9 months ago
- 1 answers
Dolly ?️ 6 years, 9 months ago
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