0
16 In what circumstances would a non trade debtors control account be used?
Wiki User
∙ 15y ago
i would like to know in what circumstances would a non trade debtors control account be used?
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
In what circumstances would a non trade debtors account be used?
the only answer i have for this question is:- If you sell items to Debtors, but then rent out part of your premises to another party, that Rental income would go into a non trade debtors account. Another big one for this would be for sale of fixed assets - i.e. plant & equipment.
What is the difference between trade debtors and sundry debtors?
The difference between trade debtors and sundry debtors is trade debtors are specific debts like credit cards. Sundry debtors are a wide variety of debtors that can be from any source.
What trade debtors?
Trade Debtors or Sundary debtors or accounts receivable is the person(s) to whom you sold goods on credit and agreed to receive payment in future.
What are the differences between trade debtors and sundry debtors?
sundry means "various". Sundry debtors means various debtors which not only include credit sales, but also include all other debtors(related to financial and other debt). So Trade debtors was part of sundry debtors. ok
What does the final balance on a sales ledger control account represent?
it represents the amount that trade receivbles owe to the business at the end of the financial period (dr balance) credit balance represents the amount that the business owe to the debtors (minority balance)
In what circumstances would a non trade debtors account be used?
the only answer i have for this question is:- If you sell items to Debtors, but then rent out part of your premises to another party, that Rental income would go into a non trade debtors account. Another big one for this would be for sale of fixed assets - i.e. plant & equipment.
What is the difference between trade debtors and sundry debtors?
The difference between trade debtors and sundry debtors is trade debtors are specific debts like credit cards. Sundry debtors are a wide variety of debtors that can be from any source.
What trade debtors?
Trade Debtors or Sundary debtors or accounts receivable is the person(s) to whom you sold goods on credit and agreed to receive payment in future.
What are the differences between trade debtors and sundry debtors?
sundry means "various". Sundry debtors means various debtors which not only include credit sales, but also include all other debtors(related to financial and other debt). So Trade debtors was part of sundry debtors. ok
What does the final balance on a sales ledger control account represent?
it represents the amount that trade receivbles owe to the business at the end of the financial period (dr balance) credit balance represents the amount that the business owe to the debtors (minority balance)
How do you calculate average trade debtors?
To calculate average trade debtors, you need to add the opening trade debtors balance to the closing trade debtors balance and divide it by 2. This will give you the average trade debtors for the specified period.
Where should i put carriage inwards in Trade payable control account?
trading account expenses
Do you include trade debtors net of GST?
yes
Are trade debtors tangible assets?
Trade debtors are persons or organizations who allows others to buy items or goods with credit and to receive payment for such goods at a later date, and tangible assets include both fixed assets and current assets. The items or goods are the assets, not the trade debtors.
What are Trade Creditors?
Trade Debtors or Sundary debtors or accounts receivable is the person(s) to whom you sold goods on credit and agreed to receive payment in future.
Is a trade debtors asset or liability?
yes It is an Asset, not a Liability.
Is trade debtors a debit or credit transaction on the trial balance?
credit
