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Govind Jha 8 years, 7 months ago
| Key Differences between | |
| Trade Discount | Cash Discount |
| Trade discount is merely a device to determine the price.Sales are invoiced at the net price after deducting the trade discount | Cash discount is the deduction from the net Invoice price. |
| Trade discount is allowed by the wholesalers to the retailers to enable the retailer to sell the goods to the consumers at the list price and still leave a margin of profit. | But Cash Discount is allowed by a creditor to his debtor to induce him to make prompt payment. |
| Trade discount usually varies with the quantity of goods purchased. | While cash discount varies with the time within which the debt is paid. |
| Trade discount is not recorded in the books of account. | cash discount must be recorded in the books of accounts. |
Posted by Anuj Sharma 8 years, 7 months ago
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Govind Jha 8 years, 7 months ago
in the context of accountancy, it is just a brief explanation of journal entry.
Posted by Amit Chauhan 8 years, 7 months ago
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Govind Jha 8 years, 7 months ago
Provision for doubtful debt is a provision created against debtors to cover the possible future bad debts. it is created by an entity to follow the conservatism/prudence principle which states provide for all possible future losses but don't consider future gains.
Posted by Aayushi Pali 8 years, 7 months ago
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Govind Jha 8 years, 7 months ago
if you are starting question from balance as per pass book then deduct this transaction.
but if you are starting question from balance as per cash book then add this transaction.
Posted by Shubhang Mandhaniya 8 years, 7 months ago
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Govind Jha 8 years, 7 months ago
if she is the owner of the firm then it will be considered as the capital. following journal entry shall be passed:-
Bank A/C Dr. 15,00,000
Capital A/C 15,00,000
( being capital introduced)
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