DMart Accounts Officer Interview Questions and Answers

Journal entry for stationery purchase

• Debit Stationery account

• Credit Cash/Bank account

• Date of purchase, amount and description of items purchased should be mentioned

• If purchased on credit, credit the supplier's account and mention the due date

• If any discount received, credit the discount received account

Bank charges journal entry is a debit to bank charges account and a credit to bank account.

• Debit bank charges account

• Credit bank account

• Bank charges are expenses incurred by the bank for providing services to the account holder

• Example: Bank charges of $50 for the month of January

• Journal entry: Debit Bank Charges account $50, Credit Bank account $50

Accounts and finance play a crucial role in this company by managing financial transactions, ensuring compliance with regulations, and providing financial analysis and reporting.

• Accounts and finance handle financial transactions such as invoicing, payments, and payroll.

• They ensure compliance with financial regulations and tax laws.

• They provide financial analysis and reporting to support decision-making.

• They manage...read more

BRS stands for Bank Reconciliation Statement. Debit note is a document sent by a buyer to a seller to request a credit note. Credit note is a document sent by a seller to a buyer to reduce the amount owed.

• BRS is used to reconcile the bank statement with the company's records

• Debit note is used to request a credit note from the seller for goods returned or overcharged

• Credit note is used to reduce the amount owed by ...read more

Accounts refer to financial records that track the transactions and financial activities of an individual, organization, or business.

• Accounts are used to record and track financial transactions.

• They provide a detailed record of income, expenses, assets, and liabilities.

• Accounts help in financial analysis, budgeting, and decision-making.

• There are different types of accounts such as cash, bank, receivable, payable, ...read more