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
- 38996 Views
- I also Faced
- E-Mail Answers
Answer Posted / jay prakash singh
Laptop(purchase) a/c dr. 50000
Calculator( free, as an assets) a/c dr. 0
To cash a/c 50000
(being Laptop purchase by cash and calcutor recived as a
gift item)
Note:- Calcutor is a gift item so they have no cost as a
accounting method.
| Is This Answer Correct ? | 2 Yes | 2 No |
Post New Answer View All Answers
Purchase order value Rs. 10000/- 0.7% is erection chareges (inclusive of the above price) central Excise applicable & Local sales tax applicable,The above price is inclusive of all taxes.
At the time of depreciation run we selected actual dep key is 5% but we taken 7% so the depreciation was posted wrongly how to rectify it?
what do you maen by Expected rate of return ? Is there any formula for expected rate of return? what is systematic & unsystematic risk ? how to calculate both the risk?
Do you know in accounting, vat abbreviates what?
MEANING OF RED HERRITING
What is the tds effect in balance sheet if tds receipts?
what is the Journal entry for credit card bill paid from same bank account
The Tabula Manufacturing Company has been in business for one month. At the end of month the company had the following accounts: Materials used K 5 000.00 Direct labour 10 000.00 Indirect labour 3 000.00 Indirect materials 2 000.00 Labour fringe benefits 1 000.00 Supervisor’s salary 1 000.00 Depreciation Machinery 2 000.00 Miscellaneous factory overhead 1 000.00 Heat and light 500.00 Insurance on plant 1 500.00 The company processed two jobs during the month with costs as follows: Job 101 Job 102 Materials cost K3 000.00 K2 000.00 Direct labour cost K6 000.00 K4 000.00 Direct labour hours 4 000.00 3 000.00 Machine hours 2 000.00 1 000.00 The company does not use a predetermined rate for factory overhead. The rate is computed at the end of each month. Required Use both the direct labour hours and machine hours to compute: 1) The overhead rates for the month (5 pts) 2) The overhead cost for each job (5pts) 3) The total cost for each job (10 pts) 4) Briefly describe the difference between Job order and process costing, citing relevant examples (5 pts).
What is the purpose of financial statements?
What is bond ? What is capital market?
IS METHODEX IS GOOD INSTITUTE FOR SAP FICO MODULE TRAINING. IS IT IN BANGALORE OY HYDERABAD.
What is process of Vendor Reconciliation and which items will be Add and Less from ad per customer books likes step by step 1-Credit Note shown in vendor a/c but not booked in our a/c- Add or Less 2-Debit Note not shown in vendor a/c but booked in our a/c - Add or Less 3-Invoices not booked in our a/c but shown in vendor a/c- Add or Less 4-Payment booked in our books but not shown vendor- Add or Less If our balance is plus or minus rules is same. like 20000, (-20000) Sir, Provide your mobile n for clarify
What are time sheets?
Is it mandatory for the employees staff of a School, if so give details
Tell me in balance sheet, where do you show tds?
