Purchase a goods from venkat for cash,it should be credited to Whom

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Purchase a goods from venkat for cash,it should be credited to
Whom

Question Posted / ajithsekhar08

9 Answers
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Purchase a goods from venkat for cash,it should be credited to Whom..

Answer / waheed

Cash

Is This Answer Correct ?

20 Yes

5 No

Purchase a goods from venkat for cash,it should be credited to Whom..

Answer / yogendra.c

Answer is Cash A/c, As it is cash Purchase.

Journal Entry & Proof as follows:
---------------------------------
* Cash Purchase:
----------------
Dr. Purchases A/c (Real A/c, Dr.What Comes in)
Cr. Cash A/c (Real A/c, Cr. What goes out)

* Credit Purchase:
------------------
1. Purchase entry:
Dr. Puchases A/c (Real A/c, Dr.What Comes in)
Cr. Creditor A/c (Personal A/c, Credit the Giver)

2. Payment Entry to Creditor:
Dr. Creditor A/c (Personal A/c, Dr.the receiver)
Cr. Cash A/c (Real A/c, Cr. What goes out)

Is This Answer Correct ?

9 Yes

1 No

Purchase a goods from venkat for cash,it should be credited to Whom..

Answer / hanmandla.anilreddy

Purchase a/c dr
To cash a/ c
( being purchased goods for cash from venkat)

Is This Answer Correct ?

4 Yes

0 No

Purchase a goods from venkat for cash,it should be credited to Whom..

Answer / naveen

Venkat

Is This Answer Correct ?

10 Yes

7 No

Purchase a goods from venkat for cash,it should be credited to Whom..

Answer / srikanth.g

if it is credit purchase then entry will be

purchase a/c Dr XXXXXX
To Venkat & co a/c XXXXX

if it is cash purchase

then it is a payment voucher

venkat a/c Dr XXXXXX
To cash a/c XXXXX

Is This Answer Correct ?

3 Yes

1 No

Purchase a goods from venkat for cash,it should be credited to Whom..

Answer / r kavitha

Expenses Debit Party Name - Credit

Is This Answer Correct ?

1 Yes

0 No

Purchase a goods from venkat for cash,it should be credited to Whom..

Answer / junaidi

Purchase or Goods will be debited as Goods are coming in when we are purchasing goods

So Purchase A/C will be debited not cash

Entry will be

Purchase A/C Dr
To Cash A/C cr

Is This Answer Correct ?

1 Yes

0 No

Purchase a goods from venkat for cash,it should be credited to Whom..

Answer / praveen kumar

cash a/c. The entry is
Purchase a/c dr
To Cash a/c

Is This Answer Correct ?

1 Yes

0 No

Purchase a goods from venkat for cash,it should be credited to Whom..

Answer / neelam

credited to cash..
coz it is cash purchase..

Is This Answer Correct ?

3 Yes

3 No

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