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
- 16079 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / yogesh
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 ? | 19 Yes | 2 No |
Answer / sampath
the purchase a/c 2,00,000
to Discount a/c 20,000
to xyz co a/c 1,80,000
| Is This Answer Correct ? | 6 Yes | 2 No |
Answer / shoukath ali k.p
jounel entry
purchase A/C Dr 200000
To ABC Ltd 180000
To discount recived 20000
( Being purchase goods Rs:200000/- from ABC ltd agst bil
no ; and discount recived Rs;20000/-)
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / 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 |
Answer / narendra kumar
Purchase A/c. Dr. 200000
ABC Ltd. A/c. Cr. 180000
Discount on purchases a/c. cr. 20000
| Is This Answer Correct ? | 4 Yes | 6 No |
Answer / srinivasan
Purchase A/C Dr 200000
ABC Ltd A/C Dr 180000
To Discount Received 2000000
Distroyed A/c Dr
To Good Return A/c
| Is This Answer Correct ? | 2 Yes | 11 No |
what will be journal entry if bussiness is started from loan.
2 Answers State Bank of Mysore SBM,
can we credit depreciation of the year to the general reserves in a balance sheet of that year? and also enlist some relevant documents or standards?
what diff. between current assets and non current assets? with example.
what is Purchase Book & sales Book?
ACCOUNTING CONCEPTS AND CONVENTIONS
why is the recocillation done?
2 Answers Global Talent Track,
How to pass entry for fllowing instance in tally or journal entry: Imported goods worth Rs.17,000/-.Invoice value is Rs.17000/- (its incl. Rs.6,000/- freight), duty for this is Rs.4500/- (its seperate).Kindly tel me how to pass entry for the above?
In Which Group "goodwill Written off account " will come?
What is the difference between Open Items and Reconciling Items on a Balance Sheet Reconciliation?
Dear Sir, We are operating a Security Agency, Please suggest us how to calculate holidays & Overtime duty, where we take 12 hrs, duty from guards in place of 08 hrs. duty. Please suggest us how to calculate. thanking you, suman
bookkeeping, and accountancy,purchase procedure , Educational institutions ;, secretarial practices, Administratire and Academic rules and regulations in Government offices, Academic institutional , computer skils. etc
can u explain the meaning of Work Contract Tax in breif.
Audit 
