Received Invoice from Tvs Co. against purchase of 15 pcs of Mouse @ 750 exclud

Categories >> Accounting >> Accounting General
Suggest New Category

Received Invoice from Tvs Co. against purchase of 15 pcs of
Mouse @ 750 excluding VAT 4%, Pass journal entry in the necessary books of accounts?

Question Posted / meena madhekar

6 Answers
8457 Views
I also Faced
E-Mail Answers

Answers were Sorted based on User's Feedback

Received Invoice from Tvs Co. against purchase of 15 pcs of Mouse @ 750 excluding VAT 4%, Pass jou..

Answer / g.siva kumar

invoice bill A/C Dr 11,250/-
4% VAT A/C Dr 450/-

To TVS co., A/c 11,700/-

(Being invoice bills received from TVS co. and 4% VAT is calculated on that invoice)

Is This Answer Correct ?

8 Yes

3 No

Received Invoice from Tvs Co. against purchase of 15 pcs of Mouse @ 750 excluding VAT 4%, Pass jou..

Answer / gourab mistri

the journal is

Dr/Cr Ledger Amount
Credit Tvs Co. 11,700/-

Debit VAT @ 4% 450/-
Debit Inventories/ Purchase 11,250/-

Narration: Being the amount credited to Tvs Co. for 15 pcs
of Mouse @750/- with VAT@4%

Is This Answer Correct ?

7 Yes

3 No

Received Invoice from Tvs Co. against purchase of 15 pcs of Mouse @ 750 excluding VAT 4%, Pass jou..

Answer / dharmendra samal

Purchase Dr. 11,250.00
Input VAT Dr. 450.00
TVS Co. Cr. 11,700.00

Is This Answer Correct ?

2 Yes

0 No

Received Invoice from Tvs Co. against purchase of 15 pcs of Mouse @ 750 excluding VAT 4%, Pass jou..

Answer / dharmendra

Purchase Dr. Rs. 11250.00 (i.e., 750x15)
Input VAT Dr. Rs. 562.50 (i.e., 5% on 11250/-)
TVS Co. Cr. Rs. 11812.50 (i.e., 11250+562.50)