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Pass a entry for purchase a material for Rs. 2000 inclusive
of VAT @ 4% on Rs. 1500 & @12.5% on Rs. 500 with narration
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Answer Posted / jenapkumar
- IF CASH PURCHASE
PURCHASE 4% Dr 1442.31
PURCHASE 12% Dr 444.44
VAT INPUT Dr 113.25
To CASH/BANK A/c. 2000.00
(BEING PURCHASED IN CASH VIDE BILL NO. xxx DATED. xxx)
- IF CREDIT PURCHASE
PURCHASE 4% Dr 1442.31
PURCHASE 12% Dr 444.44
VAT INPUT Dr 113.25
To XXXX (NAME OF THE PARTY) 2000.00
(BEING PURCHASED MATERIAL VIDE BILL NO.xxx DATED.xxx)
WHEN PAYMENT MADE
XXXXX (NAEM OF THE PARTY) Dr 2000.00
To CASH/BANK A/c 2000.00
(BEING CASH PAID)
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