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Credit Paurchases
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Answer / mahesh babu
credit purchase means with out paying we got goods from
supplier.
purchases a/c dr
to supplier
(Being goods purchased on credit)
(That means we need to pay the supplier)
| Is This Answer Correct ? | 20 Yes | 2 No |
Answer / guest
Purchases a/c........Dr
To X
(Bening the amt which we need to pay the person)
| Is This Answer Correct ? | 18 Yes | 3 No |
Answer / nabin
Purchase goods acc dr
To XYZ ac
(Bengin goods purchased on credit on from xyz)
| Is This Answer Correct ? | 11 Yes | 1 No |
Answer / rajesh
credit purchases means without paying the money received
goods from the supplires is called credit purchases
Entry for credit purchases is
purchase a\c dr
To a's a\c
| Is This Answer Correct ? | 5 Yes | 1 No |
Answer / shiva_13v@yahoo.c...
Purchase A/c Dr xxxx
To XYZ A/c xxxx
(Being a goods purchased on credit
from XYZ, which we have to pay the cash
or cheque)
| Is This Answer Correct ? | 5 Yes | 2 No |
His question is the meaning of credit purchase
The real meaning is
Purchase of goods on credit means purchase agianst promise
to pay the amount equal to the value of goods supplied in
future
The question postors are putting question as they like
Like wise the answer postors are also answering questions
as they think.
My sincere and elderly advice regarding the matter is
utilise the chance and post question or answer but dont
waste time.
| Is This Answer Correct ? | 4 Yes | 1 No |
Answer / n venkatesh gupta
purchases A/c Dr xxx
To goods A/c xxx
(being goods puchased on credit)
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / irfan khan
Purchase are of two types
1. cash purchase
2. credit purchase
Credit purchase means purchasing of good from supplier on
credit (with out paying cash on spot and making promise to
pay in future date at an agreed price) and the journal
entry is
Purchase A/c .............dr
to Vendor's A/c
| Is This Answer Correct ? | 2 Yes | 0 No |
Credit purchase means goods purchased but the payment will in future date, so the entry will be
Purchases a/c Dr
To Sundry Creditor A/c
(Being, goods purchased in credit)
Goods real a/c, Debit What comes in,
Creditor personal a/c, credit the giver.
| Is This Answer Correct ? | 1 Yes | 0 No |
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Raj & Raj Ltd purchased a machinery on 01.01.1996 for Rs.88,000.The life of the machine estimated to be 5 Yrs.It was calculated that the old machinery would fetch Rs.8000 at the end of its useful life.it was decided to replace the machinery at the end of the 5th year by setting up depreciation fund and invest the annual depreciation (along with interest earned each year) in gilt edged securities carrying interest at 5% p.a. At the end of the 5th Year the securities were sold for Rs.9000.As per the sinking fund table Rs.14,478 is to be invested every year.A new machine was purchased on 01.01.2001 for Rs.1,00,000.pass the journal entries and show the ledger accounts
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