Interested to Buy Any Domain ? << Click Here >> for more details...
what is journal entry for the credit sales and purchases
- 5 Answers
- 10913 Views
- Accenture, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / dhanpal singh
vendor a/c dr
sale tax a/c dr
To inventory a/c
To sale tax payable a/c
as per tally accounting
| Is This Answer Correct ? | 9 Yes | 4 No |
Answer / mohd asif
purchase a/c dr
sundry creditors a/c cr
sundry debtors a/c dr
sales cr
| Is This Answer Correct ? | 5 Yes | 2 No |
Answer / hafiz m.usman
CREDIT PURCHASE
Inventory a/c (Dr)
sales Tax a/c (Dr)
Supplier a/c (Cr)
CREDIT SALES
Customer a/c (Dr)
sales Tax a/c (Cr)
Inventory a/c (Cr)
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / cecil
Journal entry is an entry to the journal.
Journal is a record that keeps accounting transactions in chronological order, i.e. as they occur.
Ledger is a record that keeps accounting transactions by accounts.
Account is a unit to record and summarize accounting transactions.
All accounting transactions are recorded through journal entries that show account names, amounts, and whether those accounts are recorded in debit or credit side of accounts.
http://accountinginfo.com/study/je/je-01.htm
| Is This Answer Correct ? | 0 Yes | 0 No |
HOW WE MADE ENTRY OF SURCHARGE ON VAT PURCHASE IN PUNJAB
HOW MANY CHART OF ACCOUNT WE CAN DEFINE IN A COMPANY CODE. (SAP QUESTION)
how to pass provision salary full and settlement(inclusive Bonus,Gratutity etc )please show me entry
please advice example of any single journal entry which include all 3 accounts i.e personal, real & Nominal a/c.
What is Tax Groups
What is the Difference Between Income Tax and TDS ?
How to create Donation entry In tally? Company donate Rs. 250000 to TATA MEMORIAL HOSPITAL
What are premises in accounting sense? What is vat adjustment?
what is consignment entry?
If i pay for general expense (and party provide me gst details) through credit card then how i can enter party details
what is difference between trail balance and balance sheet
2 Answers MC Packaging, Wipro,
what is the entry to be made for vat when any purchase is made in that bill vat amount is included ?
Audit 
