An example of a credit entry in a profit and loss account...
An example of a credit entry in a profit and loss account is
Carriage inwards
Carriage outwards
Discounts allowed
Discounts received
Correct answer is D
Discount received appear as a credit on the Profit and Loss Account. Basically, the cash discount received journal entry is a credit entry because it represents a reduction in expenses.
In a three-column cash book, dishonored cheques will be shown on the ...
Trading account for the year ended 31st December 2009 ₦ ₦ Opening...
Accumulated fund is also referred to as ...
N Direct material used-----------------64,000 Direct labour------------...
The part of equity which is payable on winding up is called? ...
Given: Drawings - #3,500 Net loss - #2,500 Capital 1/1/2007 - #35,000 Additional capital - #10...
The use of a three-column cash book is determine by? ...
In manufacturing account, depreciation of office machine is charged to ...