30 March 2012
30% of creditors were reduced to the extent of 30%. Does it means 30% of 30% or does it means 70% of 30%. However, In one of the textbook, the statement was Creditors were reduced to the extent of Rs.100000/ Actual Creditors were Rs.160000/ The entry passed by them was Creditors A/c Dr. 100000 To Cap. Reduction 100000 Please HELP
31 March 2012
But Sir, In one of the textbook,the statement was Creditors were reduced to the extent of Rs.100000/- Actual Creditors in B/s 160000/-.They have passed the entry Creditors A/c Dr. 100000 To Capital Reduction A/c 100000