what will be the entry for credit purchases with discount
Answers were Sorted based on User's Feedback
Answer / vaishali
Purchase Account A/c Dr.
To Vendor
To Discount
Is This Answer Correct ? | 67 Yes | 2 No |
Answer / pradeep
purchase a/c dr 50000
To suppliar a/c 45000
To discount a/c 5000
Is This Answer Correct ? | 18 Yes | 3 No |
Answer / arif zaki imam
Purchase A/c........Dr.
To Party A/c
To Discount Recieve A/c
Is This Answer Correct ? | 13 Yes | 1 No |
Answer / syed rahman
Purchase account Dr.
To Creditor Account
To Discount Account
Is This Answer Correct ? | 14 Yes | 5 No |
Answer / pankaj kr. jangir
PURCHASE A/C DR.
TO SUPPLIER A/C CR.
TO DISCOUNT A/C CR.
Is This Answer Correct ? | 10 Yes | 1 No |
Answer / shiv koul
Purchase A/c------Dr.
To Discount Received A/c
To Sundry Creditors A/c
Is This Answer Correct ? | 9 Yes | 0 No |
Answer / ashish
Purchase A/c------Dr.
To Discount Received A/c
To Sundry Creditors A/c
Is This Answer Correct ? | 8 Yes | 1 No |
Answer / chandu
purchase A/c...........dr
To vendors A/c
To Discount A/c
Is This Answer Correct ? | 7 Yes | 0 No |
Answer / gouthami
purchases a/c -----------dr ****
To suppliers a/c ****
narration:Being credit purchases
2.when amount is being paid
suppliers a/c----------dr ****
To cash a/c ****
To discout received a/c ****
narration: Being the amount paid to suppliers.
Is This Answer Correct ? | 8 Yes | 2 No |
Answer / shaheed
purchase a/c Dr
To creditor a/c
To discount received a/c
Is This Answer Correct ? | 3 Yes | 0 No |
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The following figures relate to the trading activities of M/s ABC Traders Ltd for the year ending 31 March 2004. Particulars Amount (Rs) Sales 5,20,000 Opening stock 76,250 Purchases 3,22,250 Closing stock 98,500 Sales return 20,000 Selling and Distribution Expenses Salaries 15,300 Advertising 4,700 Travelling 2,000 Administrative Expenses Salaries 27,000 Rent 2,700 Stationery 2,500 Depreciation 9,300 Other charges 16,500 Provision for tax 4,000 Non Operating Income Dividend on shares 9,000 Profit on sales of shares 3,000 Non Operating Expenses Loss on sale of fixed asset 4,000 You are required to: (i) Arrange the above figures in a form suitable for analysis. (ii) Show separately the following ratios. Net profit ratio Operating ratio Stock turnover ratio