Interested to Buy Any Domain ? << Click Here >> for more details...
i have purchase goods for Rs.100 and company say you sell
this goods for Rs. 80 and raised a debit note for diffrence
amount and he fix 5 % commision on sales value what is
journal entry passed in tell with narration?
- 9 Answers
- 11062 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / deva
Purchase a/c......Dr....100
To Creditor a/c.................100
Debtor a/c.....Dr.......80
Comm a/c.......Dr.......04
P&L a/c........Dr.......16
To Sales a/c....................100
| Is This Answer Correct ? | 13 Yes | 1 No |
Answer / b.narasimha rao
PURCHASE A/C DR 100
TO CREDITOR A/C 100
CREDITOR A/C DR 20
TO PURCHASE RETURN A/C 20
CASH A/C DR 80
TO SALES A/C 80
COMMISION A/C DR 04
CASH A/C 04
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / dhananjayan
Purchase A/c Dr. 100
To Supplier A/c 100
Being purchase of goods)
Cash A/c Dr. 80
To Sales A/c 80
Being sale of goods)
Supplier A/c Dr. 20
To Purchase A/c 20
Being debit note raised for rate difference)
Commission on sales A/c Dr. 4
To Commission Payable A/c 4
Being 5% commission payable on sales)
Commission Payable A/c Dr. 4
To Bank A/c 4
Being commission paid on sales)
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / neer
1) purchases- dr 100
to Credotor 100
(being booked full puchases let say on 1april)
2) creditor - dr 20
to purchase return 20
(being return booked on let say 2 april)
3) debtor - dr 84
to Comission 4
to Sales 80
(being Assuming that amount of Commissiom is Charged From
Debtor)
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / ospanwar
Answer
purchases a/c dr 100
to Supplier a/c cr 100
(being purchased goods for cash)
cash a/c dr 76.00
Commision on sale Dr. 4.00
to sales cr 80
(being the sales is made in cash )
Supplier a/c dr 20
to purchasea/c cr 20
(being the debit note issued fo supplier)
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / jijesh
purchases a/c dr 100
to cash 100
(being purchased goods for cash)
cash a/c dr 80
to sales 80
(being assumes that sales is made )
cash a/c dr 20
to purchase return 20
(being rs 20 worth goods returned)
commission paid a/c dr 4
to cash 4
(being commission paid for the staff who sold goods worth
rs 80)
| Is This Answer Correct ? | 3 Yes | 2 No |
Answer / mou jana
Purchase a/c......Dr....100
To Creditor a/c.................100
Debtor a/c.....Dr.......80
Comm a/c.......Dr.......04
P&L a/c........Dr.......16
To Sales a/c....................100
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / abhilash
purchase A/c dr 100
to Supplier A/c 100
(being credit purchase )
Buyer a/c dr 100
to Sales 100
(Being Sales )
commission on sales a/c dr 4
To Buyer 4
(Being commission paid on sales @ 5% on rs.80/-)
Discount A/c Dr 20
To Buyer 20
(Being Debit note issued to Buyer)
| Is This Answer Correct ? | 1 Yes | 3 No |
Answer / iyyanar
1)Purchase a/c Dr. Rs.100
To Creditor A/c Rs. 100
Purschased goods for for Rs.100
2)
Cash A/C Rs. 80
Commision A/C Rs. 3.2
To Sales A/C Rs. 83.2
sold goods for Rs. 83.2
3) Sales Return Rs. 20
To Cash A/C Rs. 20
Goods returned by customer
| Is This Answer Correct ? | 3 Yes | 9 No |
What is the below line item and above line item and where this terminology is used?
what is net worth ?
What are the fictitious assets?
How P/E ratio usefull to the different people?
0 Answers Capital IQ, Reliance,
Reports in Accounts Payable
Tell me what do we mean by purchase return in accounting?
What are the current liabilities & current Assets
difference between banker's cheque and cheque
How many types of voucher?
14 Answers Build Asia, Punjab National Bank,
what is the journal entry for bank reconciliation.
How does accounting contribute to the community?
Tell me what is gaap?
Audit 
