general entry for credit purchases, credit sales, golden
rules of accounting,what is contribution.
- 11 Answers
- 20303 Views
- Genpact, LG, I also Faced
- E-Mail Answers
Answer Posted / vadeendra
purchsases A/c dr
to party a/c
party a/c dr
to sales a/c
| Is This Answer Correct ? | 10 Yes | 1 No |
Post New Answer View All Answers
Hi, we are not a VAT register and raised not VAT bill to company for signage material. they are deducting WCT @4%, can anybody help me why they are deducting WCT while i am not a VAT register vendor, as i do not cross threshold limit.
What are the uses of journal in accounting?
In which account does the unpresented cheque will get recorded?
What are the important things to be remembered while preparing a bank reconciliation statement?
IF ONE SUB CONTRACTOR GIVE US BILL OF RS.120000 FOR APRIL,RS.110000 FOR MAY & RS.180000 FOR JUNE WITH LABOUR CHARGES INCLUDING VAT @12.5%.HOW MUCH AMOUNT SHOULD WE DEDUCTED AS A WCT TAX?
why only 6 months interest is charged on drawings
What is general entries for Deffered Tax?
How Can We Differ Horizental & Vertical Balace Sheet? Explain.
I select in Vendor Master - in defualt data material - Purchasing Group as a Subcontractor but how to get report or list only Subcontractor Vendor Master in sap?
Are there any questions you would like to ask?
What's the accounting entry when an Invoice is created in AR?
What are its characteristic features of financial accounting?
Re: CST RATE IS 1 % IF C FORM IS RECEIVABLE. IF C FORM IS NOT RECEIVED FULL AMOUNT WHAT WILL BE THE RATE OF CST
Trial balance as on 31st March, 2014 Particulars Debit Pula Particulars Credit Pula Wages 14 100 Dividends received 4 300 Salaries 13 000 Bank overdraft 41 000 Opening Stock 40 000 Returns 1 000 Machinery 49 000 Creditors 14 200 Investments 30 700 Sales 258 500 Drawings 23 000 Capital 30 000 Purchases 130 000 Returns 2 000 Debtors 18 000 Advertising 13 400 Interest 4 800 Cash 11 000 349 000 ======= 349 000 ======== Additional information: 1. Closing stock is valued at P53 000. 2. Wages include P350 being advance against wages. 3. Wages include P1 000 paid for erection of machinery. 4. A purchase of stationery for P430 has been inadvertently included in the Purchases account. 5. A sale of investments with a book value of P2 600 for P2 500 has been included in the Sales Account. 6. Salaries include P150 per month paid to the proprietor’s domestic servant. 7. Machinery is to be depreciated by 10 per cent. Required: a. The revenue statement (Trading and Profit and Loss Account) for the year ended 31st March 2014 and b. Statement of financial position (Balance Sheet) as on 31st March, 2014.
What is accounts receivable?
