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purchases for rs100. vat @ 10% and cash discount rs 5 what
is the entry passed
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Answer / kavitha.m
Purchase A/c dr 100
Vat A/c dr 10
To discount A/c 5
To Cash A/c 105
(Being Cash pid for Puchases Including 10% vat and Discount)
_
| Is This Answer Correct ? | 17 Yes | 0 No |
Answer / mahendar kumar chaurasia
purchase A\c Dr. 100
inpute vat. Dr. 10
cash A\c 105
Discount A\c 05
dr. balance is 110
cr. balance is 110.
| Is This Answer Correct ? | 10 Yes | 1 No |
Answer / sadashiva
Purchase A/c Rs.100
Input Tax Dr Rs.10
To Cash Discount Recd. Rs.5
To Cash Rs.105
(Being Cash paid towards the purchase of Book)
| Is This Answer Correct ? | 5 Yes | 2 No |
Answer / anilyadav
Purchase A/c Dr 100
Input Vat A/c Dr 10
To Discount Recived Cr 5
To Party A/c Cr 95
(being amount for purcase)
Party A/c Dr 95
to cash/Bank cr 95
(being amount for cash paid)
| Is This Answer Correct ? | 6 Yes | 11 No |
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please answer this question.the following balances were extracted from the books of modern traders on 31st dec,2010.capital(85000)fixed assets(45000)stock1-1-2010(15000)sundry debtors(20600)productive exp(3300)reserves fund(6600)discount received(800)cash in hand(6200)drawing(5000)accomulated dep.(9000)purchases(82000)bad debts(400)unproductive exp.(27400)sundry creditors(9000)sales(120000)cash at bank(25500).adjustments.stock on 31-12-2010(15000).outstanding wages (5000) write-off (600)of further bad debts. create provision for bad & doubtful debts at {5%) on debtors.unproductive expenses includes anitem of prepaid insurance (100).provide depreciation on original cost of fixed assets @ (10%).
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