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Pass a entry for purchase a material for Rs. 2000 inclusive
of VAT @ 4% on Rs. 1500 & @12.5% on Rs. 500 with narration
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Answer / yash
( if Cash Purchase)
Net Purchase 4% 1442
VAT 4% 58
Net Purchase 12.5% 444
Vat 12.5% 56
Cash 2000
( Being cash purchases)
( if credit purchase)
Net Purchase 4% 1442
VAT 4% 58
Net Purchase 12.5% 444
Vat 12.5% 56
Party A/c. 2000
( Being ... purchase of material on credit)
Party A/c. 2000
Cash/Bank A/c 2000
(Being paid ch. / cash )
| Is This Answer Correct ? | 31 Yes | 2 No |
Answer / avijitsingh
( if Cash Purchase)
Net Purchase 4% dr 1442.40
VAT 4% dr 57.60
Net Purchase 12.5% dr 444.45
Vat 12.5% dr 55.55
to Cash/bank A/c. 2000
(Being cash purchases)
( if credit purchase)
Net Purchase 4% dr 1442.40
VAT 4% dr 57.60
Net Purchase 12.5% dr 444.45
Vat 12.5% dr 55.55
to Party A/c. 2000
( Being ... purchase of material on credit)
Party A/c. dr 2000
to Cash/Bank A/c 2000
(Being paid ch. / cash )
| Is This Answer Correct ? | 6 Yes | 1 No |
Answer / rajesh
(IF CASH PURCHASE)
PURCHASE 4% dr. 1440.00
vat 4% dr. 60.00
purchase 12.5% dr. 437.50
vat 12.5% dr. 62.50
To Cash A/c. 2000.00
if credit purchase -just change cash a/c to party name.
| Is This Answer Correct ? | 4 Yes | 1 No |
Answer / jenapkumar
- IF CASH PURCHASE
PURCHASE 4% Dr 1442.31
PURCHASE 12% Dr 444.44
VAT INPUT Dr 113.25
To CASH/BANK A/c. 2000.00
(BEING PURCHASED IN CASH VIDE BILL NO. xxx DATED. xxx)
- IF CREDIT PURCHASE
PURCHASE 4% Dr 1442.31
PURCHASE 12% Dr 444.44
VAT INPUT Dr 113.25
To XXXX (NAME OF THE PARTY) 2000.00
(BEING PURCHASED MATERIAL VIDE BILL NO.xxx DATED.xxx)
WHEN PAYMENT MADE
XXXXX (NAEM OF THE PARTY) Dr 2000.00
To CASH/BANK A/c 2000.00
(BEING CASH PAID)
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / l g sree
if purchased material by cash /bank
vat purchased rs 1442.00
4% vat on purchase rs 58.00
vat purchased rs 444.00
12.5% vat on pur rs 56.00
To cash /bank
if credit To Party name ex(xxxxxx)
| Is This Answer Correct ? | 2 Yes | 0 No |
Purchase 4% a/c dr. 1440
Purchase 12.5% a/c dr. 437.50
vat input 4% a/c dr. 60
Vat Input 12.5 a/c dr. 62.5
Party a/c Cr. 2000
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / hemant dubey
in the case of inclusive vat
Purchases a/c 1442
Vat @4% 58
Purchases a/c 444
Vat@12.5% 56
To Cash/Party A/c
( being item of 1500 hundred purchases on 4% vat and 500
item purchases on the vat of 12.5 % )
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / p. navaneetha krishnan
(IF CASH / CHEQUE PURCHASE)
4% Vat Purchase A/c. Dr. 1442.00
12.50% Vat Purchase A/c. Dr. 444.00
Vat Input 4.00 % A/c Dr. 58.00
Vat Input 12.50 % A/c Dr. 444.00
Cash / Bank Account Cr. 20000.00
(Being Cash / Cheque Purchase of Raw Materials from X
against Inv. No & Inv. Dt.)
(IF CREDIT PURCHASE)
4% Vat Purchase A/c. Dr. 1442.00
12.50% Vat Purchase A/c. Dr. 444.00
Vat Input 4.00 % A/c Dr. 58.00
Vat Input 12.50 % A/c Dr. 444.00
Supplier Account Cr. 20000.00
(Being Credit PUrchase of Raw Materials from X against Inv.
No & Inv. Dt.)
| Is This Answer Correct ? | 2 Yes | 2 No |
Answer / smart
purchase on vat (4%) a/c dr. 1440
purchase on vat (12%) a/c dr. 437.50
vat input dr. 60.00
vat input (12.50%) dr. 62.50
to party a/c 2000
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / srish
if cash purchase
net purchase 4% 1440
4%vat 60
net purchase 12.5% 437.5
12.5vat 62.5
To cash 2000
Being cash purchase made.
if it is credit purchase the entry is same only Cr side is
party name.
In case pary name is in cr side ofter the payment you can
pass like this.
party A\c 2000
cash\bank 2000
Being cash paid against cr bill no.
| Is This Answer Correct ? | 6 Yes | 8 No |
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