Answer / satyaki_raju@yahoo.com

Mr Bhardwaj I think you didnt understand the question put
by me well.You received cheque from kirthi traders.But
kirthi traders is not your customer. I will explain the
question once again pl understand
Anurag traders is your distributor. As per the routing
instructions given by him you supplied materials to
Kirthi,Kirthi as per the instructions of Anurag Traders
sent a cheque to you.Then the entry will be
Bank a/c dr 75000/-
To Anurag traders 75000/-
(Being cheque recd thru Kirthi traders)
Your answer unnecessarilly created a credit in the name of
Kirthi traders which canot be closed.
Your journalisation is no way correct
In this juncture I would like to introduce myself as Tax
Practitioner doing practice since 35 years. With a view to
educate the unemployee and just completed commerce degreee
holders I composed 6 sets of question papers based on
accounts and finance. If interested join in my free service
venture by sending your e-mail id. I will value your paper
and will send back along with comments and sugessions and
my answer book.More than 100 candidates are on roles and
are using my free service

Answer / s.k.barat

There can be no different answer than that given by you
Mr.Satyaki but the question may perhaps be slightly
modified by stating that the material was supplied to
Kirthi Traders on instruction of Anurag Traders and that
though the sale was made to Anurag Traders, material was
diverted or sent to Kirthi Traders.This aspect was not very
clear though quite understandable.

The first entry:
Anurag Traders Dr.Rs.75000/-
To Sales A/c Rs.75000/-
(Being the material sent to Kirthi Traders as instructed by
Distributor)
might not have been understood.

Answer / balaji

Mr Raju i think the journal entry is as follows

bank a/c Dr 75000
To Kirthi a/c 75000

( Being Cheque received from kirthi traders)

why because we can receive cheque from kirthi traders so we
wrote that point

Answer / bharadwaj

bank a/c dr.... 37500
meterial a/c ... 37500
to kirthi traders 75000/-

expand V D A

2 Answers  

---

what are the similarities between cost accounting and management accounting?

1 Answers   Muthoot Group,

---

For More Questions In E&Y,Earnest and Young, Banglore Mail TO "tvsethu@gmail.com". i can Guid u.

0 Answers   Ernst Young,

---

NPA is either person or account

4 Answers  

---

MY COMPANEY PROVIDE SERVICES OTHER PARTY BUT OTHER PARTY DEDUCTED TDS SO PASS ENTRY IN A/C

1 Answers  

---

List the clasification of errors

1 Answers  

---

what is converstion cost?

5 Answers  

---

what are all the books maintained in accounts for the purpose of excise?

20 Answers   Alnkey Financial, mssl, Puneet, Videocon,

---

Discuss the role of cost accounting in managerial decision making?

1 Answers  

---

freight inward expenses are direct expenses or not

7 Answers   Dainik Bhaskar, EDS,

---

Expand---------BRM

4 Answers  

---

We are working as Merchant Exporter. My Question is can we Sale the products against 'H' Form to the Exporter after purchasing the material against 'C' Form? Or only Manufacturer can make sale against 'H' Form.

0 Answers  

---