Interested to Buy Any Domain ? << Click Here >> for more details...
1) XYZ Ltd bought goods for Rs.200000 from ABC Ltd. The co
gave 10% discount. give journal entries in the books of ABC
Ltd and XYZ Ltd.
2) Goods bought for Rs.400000. While transporting goods
destroyed. Insurance co agreed to pay 75%. post journal
entries.
- 6 Answers
- 17979 Views
- I also Faced
- E-Mail Answers
Answer Posted / srinivasan
Purchase A/C Dr 200000
ABC Ltd A/C Dr 180000
To Discount Received 2000000
Distroyed A/c Dr
To Good Return A/c
| Is This Answer Correct ? | 2 Yes | 11 No |
Post New Answer View All Answers
What is the difference between provision and reverse?
What's the accounting entry when an Invoice is created in AR?
what are doucement required under registration of properity firm. give the answer breif
Hi I would like to know what is journal entry for buying securities with Margin Trading I mean 50% of cost is paid by broker. 2nd question is when we withdraw extra money from the balance we have in bank account which means our balance become (-) what is journal entry for that, should I just credit the bank or should I put the extra money with-drawled as a liability account ? Thank you in advance!
Dear sir , 1-what is diffrence local tax & vat 2 -what is sales tax. tds. service tax challan & return due date(monthly & quartly, annually) 3- what is deprecation rate in company act 4-what is income tax latest limit-
What is the difference between the accrual accounting and cash accounting?
What is tds and how it is calculated?
what is difference among credit, loan, advance
what is revenue recognition rule, and can you specify the answer.
What Entery Should Made When Godown Rent Paid in Advance At The Time Of Agreement.Transation Is as Below * Rent Paid To XYZ (OWNER OF PROPERTY) For Running Month. * One Month Rent In Advance Tenent will Always pay rent amt 1st of every month. How can we do entry every month and How can party's a/c will due on ending every month. How can party a/c Show ADVANCE RENT. Please enter every entery including JV. With time when it is necessary.
what is the process of cenvat credit taken in service tax( in direct & indirect service)
journal entry for prepaid insurance and salary outstanding
What are trade bills?
What is an adjusting journal entry?
I'am accountant working in a trading concern. I wish to become an accountant in a manufacturing/construction company.are there any books available in the market from which I can get an Idea as to how accounts are prepared and maintained for a manufacturing/construction company.
