Interested to Buy Any Domain ? << Click Here >> for more details...
purchased a laptop for Rs.50000 and received one calculator
costing Rs.1000 for free. Both laptop and calculator
(stationery in nature) are meant for office use.What will
be the journal entry in the books of both the parties?
- 21 Answers
- 38312 Views
- I also Faced
- E-Mail Answers
Answer Posted / d.r. prajapat
for purchers
assets a/c Dr. 50000
To cash/Bank 50000
( being laptop pur.)
Note- calculator cost is not maintand by the purchers
because it is a Free in laptop)
for sellers
cash/bank a/c dr. 50000
To laoptop 50000
Note.Calculator cost for the seller a exp. so its cost
including in laptop cost.so its like a exp. for seller
| Is This Answer Correct ? | 2 Yes | 2 No |
Post New Answer View All Answers
how to pass journal entries for reverse tax on input tax paid
Tell me what is reversing journal entries?
Please note that all the question related to VAT is belongs to pune, maharashtra. waiting for quality reply.
Why are accounting standards necessary?
Tell me why did you select accounting as your profession?
What does it mean to do accounting training outside of public practice?
what is basic general accounting.
What is the difference between Open Items and Reconciling Items on a Balance Sheet Reconciliation?
What do we mean by Redemption of shares and debentures?
what's the difference between impress cash account and petty cash account
What are the columns of a journal?
what is t code of all expences general legder?
What is the general net worth percentage banks will observe while sanctioning the Loans for Tranding, Construction and Manufacturing units.
why we multiply no. of purchasing year with average profit
Where do we show "Dividend paid in FFS ,either in FFO or in FFS? what is teh concept behind?
