Receipts and payments by cheque, Accounting Standards

You must be aware about the most of business are made through cheques these days. It involves the bank whether the firm has opened its own account. Thus when payment is made by cheque, you will credit the Bank Account as bank is the giver. While payment is received by cheque, the amount will be debited to the Bank Account as cheque is deposited in the bank who is the receiver.

Posted Date: 4/3/2013 6:14:51 AM | Location : United States







Related Discussions:- Receipts and payments by cheque, Assignment Help, Ask Question on Receipts and payments by cheque, Get Answer, Expert's Help, Receipts and payments by cheque Discussions

Write discussion on Receipts and payments by cheque
Your posts are moderated
Related Questions
In previous section you learnt about the accounting involves four stages: (i)  recording the transactions, (ii)  classifying-the transactions, (iii) summarising  the trans

A company values its loose tools for inclusion in its balance sheet. The tools are not extremely valuable and the company uses estimating while valuing them. Which type of accou

When is working capital most likely to increase? A when the business increases its selling prices B when the credit period allowed to customers is reduced C when the credit pe

how many tipe of accounts

SQB Corporation reports sales of $10,000,000 for Year 2, with a gross profit margin of 40%.  20% of SQB's sales are on credit.       Year 1 Year 2

illustration

how much does a paper costs regarding differences and similiarities of gaap and ifrs for 4 companies

Hello, I have a presentation about an assigned case study from the book and i also have the solution manual. I am extremely busy till the day of my presentation and my english lan

WHAT ARE THE AIMS AND OBJECTIVES IN STUDYING THE IMPACTS OF ACCOUNTING STANDARDS IN THE PREPARATION OF FINANCIAL STATEMENTS

Make a new information system for this company. Your solution should contain the following items: 1.  An overview of the primary features of the new system, describing why this