Interested to Buy Any Domain ? << Click Here >> for more details...
If a company purchase the goods for rs. 100 and intends to
Sell it for 200.
What is the journal entry for this?
- 18 Answers
- 25513 Views
- Cap Gemini, DataMonitor, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / joy
dr.purchase a/c......100
cr.sales a/c....... 200
(being goods sold in cash)
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / avishek
purchase A/c ..........Dr 100
Profit &loss A/c........Dr. 100
To sales 200
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / *****
if purchase of goods on account:
Purchases 100
Accounts payable 100
if in payment of cash:
purchases 100
Cash 100
if the sales is on account:
Account Receivable 200
Sales 200
if tru payment of cash
cash 200
sales 200
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / mk reddy
purchase a/c -dr 100
to cash a/c 100
cash a/c -dr.....200
to sales a/c ....200
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / ananthasayana
PURCHASES A/C DR 100
TO CASH A/C 100
(BEING PURCHASES MADE)
CASH A/C DR 200
TO SALES A/C 200
(BEING CASH SALES)
| Is This Answer Correct ? | 1 Yes | 3 No |
Answer / guest
PURCHASE A/C DR 100
INDIRECT INCOME DR 100
TO SALE A/C 200
| Is This Answer Correct ? | 15 Yes | 31 No |
Answer / rk
purchase a/c .......dr 100/-
to cash a/c 100/-
sales a/c.........dr......200/-
to cash a/c200/-
| Is This Answer Correct ? | 8 Yes | 30 No |
why balance sheet should always tally?
Why in a cash book receipts are debited while the same if received in our books recepits are credited. Why does cash book have a rule to debit receipts and credit payments. For example if am paying the cash that i owe the company or firm i debit in my books(cash) on the debit side and should credit in the cash book but i cant do that cash book take receipts on the debit side as per the general . please clarify many thanx in advance
what is account & what is finance
Please tell me the process of Selction of Junior Research Associate in Capitaliq(Intervie rounds&written test)
What is periodicity concept
What is the difference between input vat & out put vat?
who are minority share holders or what is minority shareholders?
What is Contra Entry?
37 Answers Ferguson, RG Group, TCS,
What is provision for depreciation? What is it entry in P&L & Balance sheet? How it is different from Depreciation expense?
Received credit note for Rs 3500 towards transport charges on the goods supplied from Vinod traders. The transport charges were already paid at the time of delivery. Pass entries at the time of payment of transport and for credit note
what is the method for calculation of profitability statement?
if anybody tell me difference between DD, PO & Cheques
Audit 
