In the adjusting entries

By -
 In the adjusting entries if any entry consist of the following five then entry will be reversed otherwise not.

1..Prepaid/ Advance to supplier.
2...Supplies
3...Income Recieveable/ interest recieveable/ commission recieveable
If the above three are found in the debit , the entry will be reversed.

&
4... Payable(salaries payable, rent payable)
5...unearned income/ Advance from customer
If the above two are found in credit ,, the entry will be reversed.

Comments

Post a Comment

Popular posts from this blog

HBL PSL 2017 Essay

By -
The PSL Pakistan Super League 2017 is scheduled to begin on Feb 9th 2017 in UAE. The opening ceremony and the first match will be played on Feb 9th with the final taking place in Lahore on March 5. The PSL 2 Draft for the second edition of the tourname nt was held on October 19 and all five teams announced their squads with most teams consisting of around 20 players from Pakistan and overseas. A few of the players were retained from the previous season by teams while the others were picked afresh from the PSL Draft. There was also a transfer window in which teams like Karachi Kings and Lahore Qalandars exchanged players. New Players like Eoin Morgan, Kieron Pollard, Sunil Narine and Brendon McCullum had also agreed to getting themselves placed in the Draft and were picked up by respective teams during the Draft, while Chris Gayle was let go of by Lahore and selected by Karachi.
Read more