Purchases entry?

Answer Posted / suvabrata sarkar

1) Purchase on credit:--
Purchase a/c .......Dr
To Supplire/Vendor a/c

2) Purchase on cash:--
Purchase a/c .......Dr
To cash a/c
3) Parchase (if mentioned goods i.e. furniture, pen etc.)
on cash
Furniture/pen a/c.......Dr
To cash a/c

Is This Answer Correct ?    5 Yes 0 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

What does the word credit mean in terms of accounting?

734


DIFFERNCE BETWEEN RESERVE AND FUND?

5169


DHPL is a small sized firm manufacturing hand tools. It manufacturing plan is situated in haryana. The company's sales in the year ending on 31st march 2007 were Rs.1000 million(Rs.100 crore) on an asset base of Rs.650 million. The net profit of the company was Rs.76 million. The management of the company wants to improve profitability further. The required rate of the company is 14 percent.The company is currently considering an investment proposal. One is to expand its manufacturing capacity. The estimated cost of the new equipment is Rs.250 million. It is expected to have an economic life of 10 years. The accountant forecasts that net cash inflows would be Rs.45 million per annum for the first three years, Rs.68 million per annum from year four to year eight and for the remaining two years Rs.30 million per annum. The plant can be sold for Rs.200 million: (a) The company can borrow funds from a nationalized bank at the interest rate of 14 percent for 10 years. It will be required to pay equal annum installment of interest and repayment of principal. (b) A financial institution has offered to lend money to DHPL at 13.5 per annum but it needs to pay equated quarterly installment of interest and repayment of principal. Questions: (1) Should the company expand its capacity? show the computation of NPV. (2) What is the annual installment of bank loan? (3) calculate the quarterly installment of the financial institution loan. (4) should the company borrow from the bank of from the financial institution?

2700


cost of lease=20,000.refundable deposits 2000 (after 4 years).annuity value for 4 years @5% is .2820.find the net charge to p&l a/c

1927


what is a difference between public and private accounting?

732






HI, i was given only 1st round and i made it through the first round, then was sent for the final HR round.In the HR round the HR manager dint ask me a single question of the related job,all he asked was as following:- i)what are your salary Expectations ii)are you ok to do night shifts.then he thanked me and said he will let me know by 2 days,when i asked him for any feedbacks and suggestions he said that he will let me know only after 2 days.SO please help me what shall i expect from this one of a kind interview. Many thanks in advance.

1610


give 3 reasons why capital is referred to as a special liability

1435


How to create a liability for Service Tax in SAP

2478


what is the relationship between bookkeeping and accounting?

698


can we adjust margin money paid to bank to open a Bank Guarantee in stock statement while calculating Drawing Power

1407


Tell me what happens to company's “cash account” if it borrows money from the bank by signing a note payable?

678


Hi.. I am pursuing my MBA II year thrgh distance frm O.U HYD., Pls let me know any jobs...in Bank jobssssss

1945


what are voucher entries for EPF treatment in tally

1741


Tell me what is your track record for consistently achieving your targets?

867


Particulars Dr Cr Capital 10,000 Machinery 3000 debit 2500 1400 sales - 14,500 drawings 900 purchase 9500 wages 5000 bank 1500 Opening balance 2000 rent 450 salary 200 carriage 150 total ___________ _________ 25,900 25,900 ____________ ________ how to find closing stock as on 31st dec,1998. wages outstanding 200/- sunnery expenses outstanding 100/- rent prepaid 100/-

1589