Answer Posted / tawfeeq yousuf
When the purchaser returns the goods to the seller the
Purchaser sends a Debit Note to the seller (ie. the
purchaser debits the seller in his books ie. Purchasers
Books) and the Seller sends a Credit Note to the purchaser
(ie. the seller credits the Purchaser in his Books ie.
Sellers Books).
Following are the JVs to be passed:-
Sales Return inward A/c Dr.
To Debtor A/c
(Being goods returned by the customer)
Creditor A/c Dr.
To Goods Return A/c
(Being goods sent back to the seller)
| Is This Answer Correct ? | 4 Yes | 0 No |
Post New Answer View All Answers
Q13. Journalise the following transactions: Proprietor withdrew for private use Rs.4000/- from bank and 6000/- cash. Goods Costing Rs.5000 was burnt by fire. Purchase Machinery for cash Rs.150000/- and paid Rs.2000/- on its Installation. Charge 5% Depreciation on building costing Rs.200000/- and 8% Depreciation on Furniture costing Rs.5000/-. Prepaid Salary Rs2000/- Kapil who owed us Rs20000/- become insolvent and nothing is received from his estate.
How can a shopkeeper maintain the daily data in tally
Define control account Thanks
You are working in a Company but due to certain reasons you were not able to complete the work given to you on time, so to write a Letter of Apology to your Senior regarding it.
plz tell me the finance questions asked in hsbc latest question asked in hsbc?
What is revaluation of Accounts, how does it is accounted in business
What is Home Loan Modification?
what is book profit
How can i do the entry of of service tax in tally.
what you mean by cross dunning
what is balance sheet, capital budgeting, financial statements, current ratio, profit maximization?
Pls Explain Accounting Standered 1,3,11,29
difference betwwen the 4.6 & 4.7 ecc versions
where we use the convetion of conservatisam in real life??
During Cutover Activities of New SAP Implementing Company what we have upload for Closed Fiscal year (that means Legasy to SAP ) Balance sheet or Trial Balance , What is the difference of the Both?
