When does the Invoice price variance arise? What is the accounting entry?

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When does the Invoice price variance arise? What is the
accounting entry?

Question Posted / ajit kumar

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When does the Invoice price variance arise? What is the accounting entry?..

Answer / nitin sharma

Purchase A/c DR.
Tax A/c DR
To S. Cr.

DR. Note
S. CR. a/c Dr.
TO Tax ac
To Purchase a/c

Is This Answer Correct ?

18 Yes

3 No

When does the Invoice price variance arise? What is the accounting entry?..

Answer / dheeraj kumar sharma

We should credit note to the party

Accouting Entry

Party A/c Cr.

Purchase A/C Dr.

Is This Answer Correct ?

6 Yes

3 No

When does the Invoice price variance arise? What is the accounting entry?..

Answer / souvik

IF PRICE INCREASE :
PURCHASE A/C DR.
TO, S.CREDITORS.

IF PRICE DECREASE :
S.CREDITORS A/C DR.
TO, PURCHASE

Is This Answer Correct ?

5 Yes

2 No

When does the Invoice price variance arise? What is the accounting entry?..

Answer / iazaz

purchase A/c Dr
to creditors A/c

Is This Answer Correct ?

3 Yes

0 No

When does the Invoice price variance arise? What is the accounting entry?..

Answer / guest

party a/c dr
service a/c

Is This Answer Correct ?

1 Yes

0 No

When does the Invoice price variance arise? What is the accounting entry?..

Answer / hari

person will be cr

purchase a/c Dr

Is This Answer Correct ?

1 Yes

0 No

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