When working under harsh environmental conditions such as working in open air, allowances must be granted to the workers. Usually these take the form of relaxation allowances. This is additional time to relax to make up for working under excessive environmental factors such as heat, humidity, noise, dirt, lighting intensity and wet conditions.
Ing Norman Abela
Time and Motion Study Engineer
Debit: Sales Returns & Allowances Credit: Accounts Receivable :)
For capital allowances purposes, the balance of expenditure in respect of which capital allowances have not yet been claimed.
That a claim must be made by the taxpayer before capital allowances can be granted.No capital allowances shall be made to an individual for a year of assessment unless claimed by him for that year (para.25 of 5th schedule of PITA 1993)
CREDIT
Yes. I could claim 13 allowances on my W-4 if I could convince my wife we should get busy and have 10 more kids. Then with a wife and 11 kids, I would be entitled to 13 allowances. She does not see it that way.
allowances during transfer
People claim certain allowances called benefits.
An income account. Debit Returns & Allowances, Credit Cash.
Sales Returns and Allowances is a contra income account.
1.House rent 2.medical 3.conveyance 4.helper allowances 5.Academic allowances
Debit: Sales Returns & Allowances Credit: Accounts Receivable :)
Sales returns and allowances is not a liability rather these are expenses or reduction in actual sales
The number of allowances you should claim on your taxes depends on your personal situation. Generally, the more allowances you claim, the less tax will be withheld from your paycheck. It's important to consider factors like your income, marital status, and dependents when deciding how many allowances to claim. You can use the IRS withholding calculator to help determine the right number of allowances for your situation.
RDA (Recommended Daily Allowances)
What are the recommended daily allowances based on a 1500 calorie diet
Sales Returns and Allowances are contra revenue accounts because they reduce that total amount of sales. [Sales-Sales returns and allowances=Net sales]. They are reported on the income statement.
No