IndigoLearn

Forums

All Topics Accountancy Auditing Corporate & Other Laws Direct Taxation Indirect Taxation Financial Management Economics Costing Strategic Management Maths & Stats Exams Others AFM Financial Reporting CFA Level I

Final accounts

Accountancy

Sir can you please explain the effect of that adjustment

siva chaitanya

CA Final

★ 8K+

23-Jul-21 09:16

288

Answers (5)

the correct entry would have been Discount given A/c Dr. To Debtors A/c So the profit is more by 4000

Sudha Reddy

CA Final

★ 20K+

23-Jul-21 09:36

Then we should write on debit side of profit and loss account and credit side of balance sheet

Thread Starter

siva chaitanya

CA Final

★ 8K+

23-Jul-21 09:46

What I said is correct mam?

Thread Starter

siva chaitanya

CA Final

★ 8K+

23-Jul-21 09:47

Thread Starter

siva chaitanya

What I said is correct mam?

Dr discount in P/L and reduce from debtors in balance sheet

Himanshu Somani

CA Final

★ 71K+

23-Jul-21 09:55

Yes, understood Thanks

Thread Starter

siva chaitanya

CA Final

★ 8K+

23-Jul-21 09:56

Connect With Us

Sales

964-011-1110 / 913-331-0549

Support

915-491-1196

964-011-1110

support@indigolearn.com

Company

About Us

Careers

Information

Testimonials

FAQ

Terms & Conditions

CIN: U74999TG2017PTC116012 | GSTIN: 36AAECI4332C1Z0 | PAN: AAECI4332C

IndigoLearn

Final accounts

Connect With Us

Company

Information

Courses

Course Guides

Offerings