Answer / atul pandey

The journal Entry of Sales transaction of vat is

Party A/c DR...
To Vat A/c
To Sales A/c

For E.g suppose A company X made a sale of 10000 to Company
z and there is a amount of Vat 5 percent in it. so the
entry made in X A/c is

Z A/c DR......... 10000

To Vat A/c .........477
To Sales A/c .......9523

How would you encourage team building unit for effeciency in the office?

0 Answers   FactSet Systems,

---

what is suspense account in tally.

2 Answers   ICH,

---

what is the difference between excise duty and customs duty.

3 Answers   Bhel,

---

WHAT IS CRR, REPORATE, REVERSE REPO RATE

1 Answers   FCI,

---

In the General Ledger.. When putting discounts, you put discounts on the DR side for Creditors and Discounts on the CR for Debitors.. Which side does discount go on for the rest of the accounts such as Purchases, M Dog, L Shirt, and L Dress?

1 Answers  

---

what kind of items are posted in the income statement?

2 Answers   eClerx, Tata Motors,

---

what is the difference between "reserve" and "fund"

1 Answers  

---

Mention the types of ledgers?

0 Answers  

---

What is Form D2 and which Purpose we use that Form

8 Answers   Citi Bank, Euro Power Tech, Matrix,

---

IN PROCESS ACCOUNTING, HOW ABNORMAL LOSS & ABNORMAL LOSS IS TREATED?

2 Answers   FCI, Genpact,

---

What is general entry credit purchase?

26 Answers   Infosys,

---

how to adding entries in tally complete new company

2 Answers  

---