General Accounting Question:

Suppose we given tour advance to party how to treat entry and which head have to given expenditure?

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Answers:

Answer #1Cash/Bank a/c DR
To Party(name)a/c
(Advance Paid For Tour)

Answer #2113

Answer #3To Party (name) a/c


Answer #4Party(name) a/c Dr
To Cash/bank a/c
(Being advance paid for Tour)

Answer #5cash a/c dr
To party(name)a/c
(advace paid for tour)

Answer #6TO PARTY A/C

Answer #7Party account Dr.
to Cash/Bank

Answer #8Dr PARTY A/C ( ADVANCE UNDER INDIRECT EXP)
Cr BANK/CASH A/C

Answer #9party a/c Dr
to cash

Answer #10Dr party account
Cr cash r bank account


Answer #11Cash ac
To
Tour party

Answer #12a. Party ...Dr
to Cash/bank a.c

Answer #13Cash/bank a/c dr
Party name ac/

Answer #14Party account Dr to cash account

Answer #15Party a/c Dr
to Cash/Bank A/c

Answer #16Cash Dr
To party

Answer #17NO

Answer #18Party A/c(Advance)dr
To cash A/c
(Being cash paid as an advance)

Answer #19Party a/c....Dr.
To Cash/bank a/c
Explanation: It is the expenses from view point of us so cash is credited. And, other party receive the benefit in form of cash which is loss for us.

Answer #20prepaid expense
to bank/cash a/c


Answer #21Party name a/c Dr
To Bank a/c / cash a/c
Dr the receiver
Cr what goes out

Answer #22Advance Tour Exp. Dr.
To Party
Advance tour Exp will come under Other Current Assets head in Assets side.

Answer #23dr: party Tour
cr: cash/bank

Answer #24Dr Party a/c
Cr Cash / Bank a/c

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