If a company purchase the goods for rs. 100 and intends to
Sell it for 200.
What is the journal entry for this?
Answer Posted / guest
PURCHASE A/C DR 100
INDIRECT INCOME DR 100
TO SALE A/C 200
| Is This Answer Correct ? | 15 Yes | 31 No |
Post New Answer View All Answers
who introduces the single entry format?
What are the rates of Depreciation? Like machinery items, wooden items?
which name written in Tan application form Applicant is sole proprieter companies name or individual name?
what is the difference between speculation & investment?
Being BE student why you want to join bank?
We are a education institute based in chennai.if i purchase a product in chennai and i transfer it to our branch which is in bangalore. we don't have tin nos,Sales tax nos, cst nos. We have only service tax nos. what is the procedure.
I am maintaing books of accounts a Software Co. Kindly advise me Account Head of these exps. (Software Exps.,Internet Exps., Video Exps.,Server Maint.Exps.,& SMS Exps.,) Thanks
what is mixed invoice, prepaid invoice,quick invoice,podefault invoice,withholding tax invoice,please explain me in detail?
Expand-------CSNA
Expand---------ODMT
What was key roles of Cashflow statement and Fund flow statement and Balnsheet..?
what is CDD’s configuration
What is the difference between Balance Sheet , Chart Of Accounts and trial Balance?
What is combination?
1) why rbi charges more interest rate in d form of repo while borrowing from commercial banks, and lends at a lower interest rate(reverse repo) to d commercial banks? 2) Do cooperative banks need to maintain policy rates with rbi? 3) why rbi does'nt pay any interest rate on CRR?