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

Categories >> Accounting >> Accounting General
Suggest New Category

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

Question Posted / ajit kumar

6 Answers
13007 Views
Genpact, HSBC, I also Faced
E-Mail Answers

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

Post New Answer

More Accounting General Interview Questions

what is vendor setup?why it is required in accounts payable process?

1 Answers Cap Gemini,

how to calculate basic to gross salary

0 Answers Crossdomain,

what will be the tratment if company is going to buy a new plant/office . pls tell me how i consider all this transction in tally ex. advance given to party , ragistration exp, stamp duty paid, finel payment made etc.

1 Answers

What is Capital Market India in your own Words?

2 Answers

How to create Sundry Creditors and Sundry Debtors Aging analysis.

4 Answers

why net profit add in capital in balance sheet

7 Answers

Tell me different branches of accounting?

0 Answers

calculations of pf

1 Answers

when we file Vat audit report

4 Answers

Subsidiary ledger and the benefit of making it, explain?

1 Answers

what are the document that get created in procurement to pay process ?

2 Answers Servis,

R2R profile required which kinds of work in accounting ?

1 Answers Accenture,

For more Accounting General Interview Questions Click Here