what are journal entry of vat in sale transaction with
example.
Answer Posted / atul pandey
The journal Entry of Sales transaction of vat is
Party A/c DR...
To Vat A/c
To Sales A/c
For E.g suppose A company X made a sale of 10000 to Company
z and there is a amount of Vat 5 percent in it. so the
entry made in X A/c is
Z A/c DR......... 10000
To Vat A/c .........477
To Sales A/c .......9523
Is This Answer Correct ? | 23 Yes | 6 No |
Post New Answer View All Answers
What are the reasons which cause pass book of the bank and your bank book not tally?
what is an ideal organisation
Plant and machinery destroyed for 50000
What we have to post entry for payroll processing ? (Indian payroll)
what is debit balance report in SAP?. how do you describe DB report in brief.
What is an interest rate swap
What is the difference in accounting and marketing and what is so different about them?
What does the standard journal entry includes?
Tell me in balance sheet, where do you show tds?
Define fair value accounting?
1. The following data is available. Determine the Break Even point in Sales: Sales : $1,800,000/- Fixed Expenses : $ 375,000/- Variable Expenses : $ 1,200,000/-
What are the most important goals of accounts receivable?
what is the relationship between bookkeeping and accounting?
What is cotangent Account?
I have transferred the Plant & machines to our Branch which are located in other state. plz told me how can i show the Machin stk trfr amt in return?