Interested to Buy Any Domain ? << Click Here >> for more details...
What will be the Journal Entry for this?
Purchases goods from vendor worth Rs.20000.VAT included 4%.
- 28 Answers
- 38461 Views
- Ernst Young, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / sunit
PURCHASE A/C DR 20000
VAT 4% DR 800
TO ABC PARTY A/C 20800
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / mdwasim101@gmail.com
Purchase A/c Dr........19200
Input vat @4% Dr........800
To Vendor A/c ............2000
| Is This Answer Correct ? | 2 Yes | 3 No |
Answer / muba.mukadam
Purchase a/c.....................Dr
VAT a/c...........................Dr
to Vendor
| Is This Answer Correct ? | 2 Yes | 3 No |
Answer / sunder pal
PURCHASE A/C DR 19230
INPUT VAT A/C DR 770
TO VENDOR A/C 20000
| Is This Answer Correct ? | 3 Yes | 4 No |
Answer / fathima
If on cash basis then the entry is
Purchase a/c Dr 19,200
Input vat4% a/c Dr 800
To Cash 20,000
If on credit basis then the entry is
Purchase a/c Dr 19,200
Input vat4% a/c Dr 800
To Party 20,000
Party a/c Dr 20,000
To Cash 20,000
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / puneet
Purchases A/C Dr. 19200
Vat A/C Dr. 800
To Cash A/C 20000
| Is This Answer Correct ? | 3 Yes | 5 No |
Answer / anchit saxena
hello viewers, i m sorry to say actually i was also posted
wrong entry for this question due to confusion bt now i
rectify to this entry-
PURCHASE A/C DR. 20,000
INPUT VAT 4% A/C DR. 800
TO CASH A/C 20,800
BEING AMOUNT PAID TO THE VENDOR WITH 4% VAT FOR PURCHASED
GOODS.
| Is This Answer Correct ? | 1 Yes | 4 No |
What is the difference between accrual
Difference between reserves for bad debts & provision for bad debts.
6 Answers HSBC, NRN Business solution, Siemens,
What is the purpose of financial statements?
difference between stock and share
Goods worth Rs.347.60 has been destroyed. Ex:(parachute Hair Oil 8 Ml, So entry will be.. Abnormal Loss A/c Dr....347.60 To Stock Destroyed A/c How it possible????
Please expain difference of service tax and entry tax and rates also in fy 2010-11 and how calculate these taxes
what is different between accouts receivable and billing?
what comes under real account?
3 Answers CS Engineering, SK Accountant,
How do you prepare mis reports?
if u sale an asset for Rs.1000, which shows the book value of 8600. what will be the journal entry???
What is debit and credit note?
What is the journal entry for paying 50000 rs. To xyz co. For professional fees after deducting tds on that.
Audit 
