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
- 18031 Views
- I also Faced
- E-Mail Answers
Answer Posted / ravi ranjan
In the Books of ABC LTD.
XYZ A/c-------DR 180000
Discount A/c--DR 20000
To Sales A/C 200000
(Being goods sold@10 discount)
In the Books of XYZ LTD
Purchase A/C------DR 200000
TO disount 20000
To ABC A/C 180000
| Is This Answer Correct ? | 1 Yes | 0 No |
Post New Answer View All Answers
what is the nature of profit and loss approprition account.which entity prepare this.
What is ppe in accounting?
Are there any questions you would like to ask?
I select in Vendor Master - in defualt data material - Purchasing Group as a Subcontractor but how to get report or list only Subcontractor Vendor Master in sap?
Difference between depreciation according to cost principle and matching principle
What is fbt (fringe benefit tax)?
Have you ever heard about tds, what it is?
If i pay for general expense (and party provide me gst details) through credit card then how i can enter party details
What is purchasing order?
What is accounting
List out some of the accrued expenses and the accounts in which you would record them?
PRELIMINARY EXPENSES INCURRED IN THE YEAR OCTOBER 2012 MONTH 5LAKS WHICH ACCOUNTED IN ASSET SIDE AS ''PRELIMINARY EXPENSES''... IN YEAR END MARCH 2013, IN 5LAKS HOW MUCH AMOUNT SHOULD TAKE FOR PRELIMINARY EXPENSES WRITTEN OFF..?
What is reversing journal entries?
pass the journal as wellas ledger entries off the foll 1st jan :> started businress with cash rs 1,20,000 & goods worth rs 60,000. 2nd jan > cash purchases rs 50,000. 4th jan >cash sales rs 40,000. 6th jan > purchase good's from sonali on credit worth rs 30,000 at 10 % trade discount. 8th jan> sold sood's to komal on credit rs 20,000 at 10% trade discount. 10th jan > paid rent by a cheque rs 50,000. 12th jan > good's worth rs 4,000 lossed by fire. 14th jan > good's worth rs 3,000 withdrawn from business for personal use. 16th jan > good's worth rs 2,000 distributed as free samples. 18th jan > good's worth rs 1,000 exchange for furniture.
Tell me what is gaap?
