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Does discount allowed entered in the realization account when dissolving a partnership?
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What is realisation account?
When company goes to liquidation process then realization account is created which is a temporary account and all assets and lialibilities are realized through this account and after realization there may be surplus or defeciancy in realization account.
Is realisation account real account?
realization account... never heard but what i know if you sold something like equipment.. that equipment was realized.. so realization took place there
What type of account is a sales discount?
A sales discount account is a contra-revenue account.
Can a partnership bank account can be converted to proprietor account?
no
What is a normal balance account of a Sales discount?
Sales discount account has debit balance as it causes the reduction of sales and hence a contra account of sales revenue account.
What is realisation account?
When company goes to liquidation process then realization account is created which is a temporary account and all assets and lialibilities are realized through this account and after realization there may be surplus or defeciancy in realization account.
Is realisation account real account?
realization account... never heard but what i know if you sold something like equipment.. that equipment was realized.. so realization took place there
What type of account is a sales discount?
A sales discount account is a contra-revenue account.
Can a partnership bank account can be converted to proprietor account?
no
How do you open a bank account for a Partnership firm?
To open a bank account for a Partnership firm, a registered Partnership deed along with identity and address proof of the Partners need to be provided.
What is the Difference between trade discount and discount allowed?
trade discount is for trade customer (who has an account with the supplier) discount allowed is for walk in customers (no account holders)
How do you get your mystery discount for your account?
no
What is a normal balance account of a Sales discount?
Sales discount account has debit balance as it causes the reduction of sales and hence a contra account of sales revenue account.
Is Purchase Discount revenue or expense?
Sales discount is not an expense account, but is also a deduction to an income statement. It is just a contra account of a revenue account particularly a sales revenue account.
What is the main difference between trade discount and cash discount?
The main difference between, cash discount is shows in account book but tradediscount does not show in account book.
Which golden rule of account for Discount allowed?
nominal account
Is Yahoo and Google in a partnership?
Google & Yahoo are in the same account, so if you get a yahoo account you will also have a google account. :]
