Question
The journal entry for the purchase of inventory on
credit would be:Solution
When inventory is purchased on credit, inventory is debited (increased) and accounts payable is credited (increased). This reflects the acquisition of inventory on credit, and the obligation to pay the supplier in the future is recorded under accounts payable.
Which of the folloiwng becomes the first Central Public Sector Enterprise (CPSE) to achieve the major milestone of procurement value of Rs 10,000 crore ...
Company Victory commenced operations and it purchased g oods worth â‚ą1,00,000 . During the year, the it could make sales worth â‚ą90,000. If the compan...
Recently Reserve Bank of India imposes penalty of Rs 13.9 lakh on which of the following institution for non-compliance of the guidelines?
In projects financed under consortium arrangements, where the aggregate exposure of the participant lenders to the project is upto Rs.1,500 crores, no ...
The RBI revised its instructions on Bulk Deposits for Urban Co-operative Banks (UCBs) in January 2024. Under this revision, what is the minimum amount c...
Under the Unified Pension Scheme (UPS), in case of the pensioner’s death,  how much of the pension amount ,   immediately before the retiree’s d...
How many new SIDBI branches were inaugurated in Karnataka by the finance minister recently (Nov 2024)?
In the year 2021 which company got the approval of entering into mutual fund market by the SEBI (Securities Exchange Board of India)?
Which of the following bank was the first bank which was fully managed by Indian?
The process in which certain types of assets are pooled so that they can be repackaged into interest-bearing securities is called:
Relevant for Exams:
