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

Answers were Sorted based on User's Feedback



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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