Reversing entries (Goods returned)
Reversing entries are an essential part of the accounting process, specifically when dealing with goods returned by customers. When goods…
Read BBA, BMS, B.Com Syllabus wise Notes
Reversing entries are an essential part of the accounting process, specifically when dealing with goods returned by customers. When goods…
Revenue recognition on goods sent for approval or return, often referred to as sale on approval or sale or return…
When a company ships goods to a customer, it must recognize the transaction in its financial records accurately. This process,…
Revenue recognition is one of the most fundamental principles in accounting. It determines when and how revenue should be recognized…
Sale of Goods on Approval or Return basis is particularly relevant in certain business environments where the buyer is uncertain…
Sale of goods on approval or return is a conditional sale where the buyer has the option to either accept…
Here are simple problems on the accounting equation and adjusting entries in table format: Problem 1: Accounting Equation Transaction Assets…
Adjusting entries are an essential part of the accounting cycle. They are made at the end of an accounting period…
Ledger is a crucial component of the accounting process, serving as a collection of all the accounts used by a…
Credit Notes In the Goods and Services Tax (GST) system, a credit note plays a significant role in rectifying errors,…