General Accounting Question:
Suppose we given tour advance to party how to treat entry and which head have to given expenditure?
Answers:
Answer #1Cash/Bank a/c DR
To Party(name)a/c
(Advance Paid For Tour)
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)
To Cash/bank a/c
(Being advance paid for Tour)
Answer #5cash a/c dr
To party(name)a/c
(advace paid for tour)
To party(name)a/c
(advace paid for tour)
Answer #6TO PARTY A/C
Answer #7Party account Dr.
to Cash/Bank
to Cash/Bank
Answer #8Dr PARTY A/C ( ADVANCE UNDER INDIRECT EXP)
Cr BANK/CASH A/C
Cr BANK/CASH A/C
Answer #9party a/c Dr
to cash
to cash
Answer #10Dr party account
Cr cash r bank account
Cr cash r bank account
Answer #11Cash ac
To
Tour party
To
Tour party
Answer #12a. Party ...Dr
to Cash/bank a.c
to Cash/bank a.c
Answer #13Cash/bank a/c dr
Party name ac/
Party name ac/
Answer #14Party account Dr to cash account
Answer #15Party a/c Dr
to Cash/Bank A/c
to Cash/Bank A/c
Answer #16Cash Dr
To party
To party
Answer #17NO
Answer #18Party A/c(Advance)dr
To cash A/c
(Being cash paid as an advance)
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.
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
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
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.
To Party
Advance tour Exp will come under Other Current Assets head in Assets side.
Answer #23dr: party Tour
cr: cash/bank
cr: cash/bank
Answer #24Dr Party a/c
Cr Cash / Bank a/c
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