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When company goes to liquidation process then realization account is created which is a temporary account and all assets and lialibilities are realized through this account and after realization there may be surplus or defeciancy in realization account.
realization account... never heard but what i know if you sold something like equipment.. that equipment was realized.. so realization took place there
A sales discount account is a contra-revenue account.
no
Sales discount account has debit balance as it causes the reduction of sales and hence a contra account of sales revenue account.
When company goes to liquidation process then realization account is created which is a temporary account and all assets and lialibilities are realized through this account and after realization there may be surplus or defeciancy in realization account.
realization account... never heard but what i know if you sold something like equipment.. that equipment was realized.. so realization took place there
A sales discount account is a contra-revenue account.
no
To open a bank account for a Partnership firm, a registered Partnership deed along with identity and address proof of the Partners need to be provided.
trade discount is for trade customer (who has an account with the supplier) discount allowed is for walk in customers (no account holders)
no
Sales discount account has debit balance as it causes the reduction of sales and hence a contra account of sales revenue account.
Sales discount is not an expense account, but is also a deduction to an income statement. It is just a contra account of a revenue account particularly a sales revenue account.
The main difference between, cash discount is shows in account book but tradediscount does not show in account book.
nominal account
Google & Yahoo are in the same account, so if you get a yahoo account you will also have a google account. :]