Answer / somasekahar

purchases A/C -dr
To supplier A/C

DebtorA/c-dr
to sales a/c

personal a/c-debit the receiver,credit the giver
real account -debit what comes in,credit what goes out
nominal account-debit all expenses,credit all gains and
incomes

Answer / pradeep gunuguntla

Purchases A/c ... Dr

To Accounts Payable A/C

Accounts Receivable A/C

To Sales A/c

Personal A/C: Debit the Receiver
Credit the giver

Real A/c: Debit what comes in
Credit what goes out

Nominal A/c: Debit Expences & losses

Credit Incomes & gains

Answer / suman kumar dev

PURCHASES A/C------DR
TO SUPPLIER.

Answer / b.thirupathi

PURCHASES A/C...DR
TO SUPLIER A/C
RULE:
real a/c: what comes in....DR.
So we debited purchases and
personal a/c: who gives is credit
so we credited the suplier

debtor a/c....dr
to sales a/c
RULE:
PERSONAL A/C: who recives is debit,
so we debited the debtor,
REAL A/C: what goes out is credit
so we credited sales

Answer / vadeendra

purchsases A/c dr
to party a/c
party a/c dr
to sales a/c

Answer / pc

contribution= sales-variable cost
or
fixed cost + profit

Answer / sahil ahuj

1 Purchase AC DEBIT
To Supplier AC CREDIT

2 Buyer/Party AC DEBIT
To Sales AC CREDIT

3 Real Acs (Dr What Comes in & Cr. What Goes Out)
Personal Acs (Dr. the Receiver and Cr. The Giver)
Nominal Acs (Dr All Exp $ Losses , Cr All Incomes & Gains )

4 Contribution = Sales - Varibale Cost or Selling Price/Unit - Variable Cost Per Unit

Answer / anil ahuja

purchase a/c Dr

Party a/c Cr

Answer / naresh

personal a/c-debit the receiver,credit goes out
real account -debit what comes in,credit what goes out
nominal account-debit all expenses,credit all gains and
incomes

Answer / naveen kumar.karumuri

Entry for Credit Purchases.:-
Dr.Purchases account
Cr.Vendor Account
(Narration.Being the Dr.Purchases Payment not yet paid)

Entry for Credit sales:-
Dr.Sales Account.
Cr.Customer Account
(Being Credit Sales payment not yet paid)

Golden rules for Accouting.
There are 3 types.
1.Personal Account(Dr.the Receiver,Cr the Giver)Best Ex.cash
2.Real Account(Dr.What comes In,Cr.What goes out)Best Ex.Assets
3.Nominal Accounts(Dr.All Expenditure,Cr.All Gains)Best ex.Dr.interest Paid,Cr,Interest Recd

Thank you,
Naveen Kumar.Karumuri
Accounts Executive

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