VAT entry
How to make a VAT entry in books including set off?
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Purchases:
Accounts Payable: xxx VAT Input: xxx Cash in Bank: xxx Purchases recorded for the month.
Sales:
Accounts Receivable: xxx Sales: xxx VAT Output: xxx Sales recorded for the month.
Set Off:
VAT Output: xxx VAT Input: xxx VAT Debit and Credit Account: xxx Transfer of Surplus - VAT Debit and Credit Account.
Payment:
VAT Debit and Credit Account: xxx Cash in Bank: xxx Payment of VAT accounted for the month of: ______.
Trust Accounting: It is the "accounting of each and every item of income and expenditures which are employed to find out the amount that certain beneficiaries will obtain from the trust each year." Actually, it is equivalent to all the revenues receiv
ACCOUNTING PROCESS: The process of Accounting involves the following steps: Q : Budgetary accounts Accounts used in Accounts used in governmental accounting to record the budget amounts but not the actual amount. For example, at the beginning of the accounting period, the planned amount of tax revenue, revenue from license, and inflows from fines would be recorded as one amount in
Accounts used in governmental accounting to record the budget amounts but not the actual amount. For example, at the beginning of the accounting period, the planned amount of tax revenue, revenue from license, and inflows from fines would be recorded as one amount in
Avoidable Cost: The cost related with an activity which would not be acquired if the activity were not executed.
Liability of partners: A) Under contract law: Liability is joint only (collectively); The creditor has only one right of action (except in NSW, where liability is now joint and several).
Indirect Cost: A cost which can’t be recognized particularly with or traced to a specified cost object in an economically feasible manner.
What do you mean by the term provision of management accounting information?
Process Value Analysis: Tools and methods for studying processes via customer value analysis. Its objective is to recognize opportunities for lasting enhancement in the performance of an association. It offers an in-depth review of wo
I need homework help in accounting, 10 questions there about break even analysis. let us know if you can so it
1. HulaHug Corp., which manufactures hula hoops, currently has two product lines, the Roundabout and the Sassafras. HulaHug has total overhead of $124,478. HulaHug has identified the following information about its overhead activity pools and the two
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