Accounts Payable

Advance payment of tax means to pay tax along with the earning of his income this tax is paid on the current year income in the same year .In fact, it is paid as advance and it is called advance To juxtapose is to bring two items together. In a novel they use this in character dynamics. For example by juxtaposing the protagonist of the book with the antagonist it create Advance payment of tax means to pay tax along with the earning of his income this tax is paid on the current year income in the same year .In fact, it is paid as advance and it is called advance... To juxtapose is to bring two items together. In a novel they use this in character dynamics. For example by juxtaposing the protagonist of the book with the antagonist it creates tension, interest,... If you meet the rules under Who can get the advance payment of the earned income credit , give your employer a Form W-5, Earned Income Credit Advance Payment Certificate, for 2010.After you have read... I assume it means that the landlord would like a months rent up front. So, for example, you move into a house in March, and he would want you to pay March twice, once for the actual month, and...

Yes

car servicing charges

credit

They Don't go on the balance sheet unless they are currently earned but owed at a later date. When paid out at the time they are earned they would be assigned to the Income & Expense statement as.The purpose of the trial balance is (historically) to verify if any errors were made with posting the journal entries to the ledger. Every journal entry makes debits and credits to (at least) two.

The purpose of accounting is to provide important financial information in order to make fast and precise decisions. The Krebs Cycle's purpose is to produce ATP that cells can use, occurs in animal cells. The Krebs Cycle is in chloroplasts and is used to produce gluclose for cell

The GST (Goods and Services Tax) clearing account is typically on the credit side of the accounting ledger when the tax is collected from customers and debit side where it is paid to the tax authorities. When a business collects GST from customers, it is collected as a liability until it is remitted to the tax authorities. The GST clearing account is used to track this liability until the payment is made to the government. Once the GST is remitted, the balance in the clearing account decreases, and the liability is cleared.

Obviously yes

we wont be able to matain all the accounts in proper manner , there will be errors and miss appropriations of cash

"conservatism in the balance sheet is of dubious value if attained at the

expense of conservatism in the income statement, which is far more

significant."

A branch of accounting that requires a high degree of verification before making a legal claim to any profit. Accounting conservatism will recognize all probable losses as they are discovered and most expenditures as they are incurred. Revenue will be deferred until it is verified. Having strict revenue-recognition criteria is one of the most common forms of accounting conservatism.

Accounts receivables are on the balance sheet. They are an asset of the firm, that is they represent a future economic benefit. The income statement holds the revenues and expenses of the business.It goes to the Balance sheet (Debtors) under Current Assets. What goes into income statement is Sales (both cash and credit). DR Debtors CR Sales. Debtor goes to B.S and Sales goes to P&L

to correct an error made in the journal ( prior to posting in the ledger)

Upon Receipt, Net10, Net15, Net 30

Increase in notes receivable reduces the cash flow because if sales are made in cash then cash will immediately increase but if sales are made on credit it means company has not received the cash and that's why it reduces the cash.

Cost accounting is usually involved with management accounting. Financial accounting tends to deal with the past and presents information like statements for public and private use. Management...Cost Accounting related to accounting methods and techniques used by managers to operate their firms. Examples include raw materials, labor and manufacturing overhead management. On the other hand,

Debit side

Long term liabilities do not get deducted from net income.

Gross Income - Expenses = Net Income

Net Income - Dividends = Retained Earnings.

Paying a Long Term Liability has the following effects on the accounting equation.

Decrease Assets (generally current as they are usually paid in cash)

Decrease Liabilities (it's less you owe)

Owners (stockholders) Equity is unchanged.

Payment is required on Release Of Goods

HELLO

DIFFERENCE BETWEEN MANAGEMENT AND COST ACCOUNTING IS AS FOLLOWS:-

COST MANAGEMENT MEANS-:

cost management and cost analysis, and organizations, including materials, labor, effort and time for each activity in the manufacture and supply of goods and services. This information can be used to improve the efficiency and overall cost.

COST ACCOUNTING MEANS :-Uses accounting entry finance, operations, suppliers, customers and competitors to conduct internal decision and planning.

Non-current liabilities are those liabilities that are not expected to be paid in one year or less.

For example, you have taken a 3-year loan. Now, the first year payment (For the first 12 months) should be paid within the year. But the for next two years the amount can be paid later in the future as the duration is more than one year. This would be a non-current liability.

Yes.Most purchases are on credit and are therefore current liabilities

• Accounts payable are usually the suppliers to a company who are providing credit terms on purchases. Sundry creditors are any other creditors which dont fall into the usual categories on the balance...
• account receivable- money coming in for profit account payble-money going out for a expense .
• Accounts payable refers to liabilities owed to creditors from whom you've made a purchase. Notes payable refer to liabilities owed to investors from whom you've borrowed money by issuing a debt...

Debit expenses / accounts payable
Credit bank

Panasonic A/c Dr. Rs. 50000/-

To Cash A/c Rs. 50000/-

( Being amount paid for purchase of Panasonic TV from Panasonic )

Refer

to Problem 5-1A, using the Sample Company Chart of Accounts (5-digits account

number) the journal entry on July 1 is a debit to _______________ for $1,500. Just enter the 5-digits account number