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What is general entry credit purchase?
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PURCHASES A/C DR
TO PERSON (CREDITOR'S NAME) A/C
IF YOU PURCHASE ANYTHING YOU WANT TO CREDIT THE PURCHASER
NAME. AND DEBIT PURCHASE IN CASE OF BOUGHT ITEM FOR
SALES, OR PURCHASE OF ASSET YOU NEED TO RECORD ASSET'S NAME
(MACHINERY, BUILDING0
| Is This Answer Correct ? | 60 Yes | 3 No |
Answer / suresh rai
PURCHASES A/C DR
TO PERSON (CREDITOR'S NAME) A/C
| Is This Answer Correct ? | 19 Yes | 1 No |
Answer / janardhan
PURCHASES A/C DR
TO PERSON (CREDITOR'S NAME) A/C
IF YOU PURCHASE ANYTHING YOU WANT TO CREDIT THE PURCHASER
NAME. AND DEBIT PURCHASE IN CASE OF BOUGHT ITEM FOR
SALES, OR PURCHASE OF ASSET YOU NEED TO RECORD ASSET'S NAME
(MACHINERY, BUILDING0
| Is This Answer Correct ? | 16 Yes | 3 No |
Answer / shanmuga priya
purchase a/c Dr
To creditors (name of the supplier)
| Is This Answer Correct ? | 12 Yes | 1 No |
Answer / zahid mehboob
Dr Purchases A/C
Cr Creditors A/C
Purchases a/c will be a debit because he will be exceed our
asset or stock and other side libility will be increase so
creditor account will be credid.
| Is This Answer Correct ? | 7 Yes | 1 No |
Answer / monu aggarwal (monu.1526@redif
1. Goods Purchase a/c Dr
To Party's a/c
(Being credit Purchase of goods)
2. Machine Or Furniture a/c Dr
To Party a/c
(Being credit purchase of Assets)
| Is This Answer Correct ? | 6 Yes | 0 No |
Richman Corporation has 120,000 shares of $5 par value common stock outstanding. It declared a 10% stock dividend on June 1 when the market price per share was $12. The shares were issued on June 30. Instructions: Prepare the necessary entries for the declaration and payment of the stock dividend.
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