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Categories >> Accounting >> Accounting General
 
 


 

 
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Question
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?
 Question Submitted By :: Accounting-General
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
Purchase A/C or Stock A/C Dr 21,500/-
To Creditors A/C or Bank A/C 11,000/-
To Freight A/C 6,000/-
To Duty A/C 4,500/-

Being Goods Purchased worth 11k + 6k Freight and Duty paid
is 4,500/-
 
Is This Answer Correct ?    22 Yes 6 No
Harsukh Vaja
 
Answer
# 2
Purchase a/c Dr 11000
Freight a/c Dr 6000
Custom duty a/c Dr 4500
to party a/c 17000
to Bank/cash 4500

(Being goods Purchase and Paid Duty for separate)
 
Is This Answer Correct ?    8 Yes 1 No
Ishwar Singh Ranawat
 
 
 
Answer
# 3
Duty and freight both will be part of imported goods.
(Since the question does not clear the nature of duty in
what section under the custom act whether credit are
permissible or not hence entry will be,


Purchase (items) a/c (17000+4500) Dr. 21500
To Creditors or Bank A/c 21500.
 
Is This Answer Correct ?    21 Yes 15 No
Pradeep
 
Answer
# 4
Purchase A/c (Stock A/c) Dr. 27,500/-
To Party A/c 17,000/-
TO (Direct Exps) 10,500/- (Fright=6000+Duty=4500)
(Being Bill Booked towards Goods Import.)

Party Ac Dr. 17,000/-
Direct Exps Dr. 10,500/-
To Bank 27,500/-
(Being Amt paid towards import of goods)
 
Is This Answer Correct ?    3 Yes 2 No
Parshuram Warik
 
Answer
# 5
purchase a/c dr.11000
freight a/c dr.6000
duty exp a/c dr.4500
To s. creditors 11000
To bank a/c 10500
 
Is This Answer Correct ?    4 Yes 4 No
Manoj
 
Answer
# 6
purchase account Dr.17000
custom Duty account Dr.45oo
To S.Creditors account 17ooo
To Bank account 45oo

(Beieng goods imported and duty paid )
 
Is This Answer Correct ?    2 Yes 2 No
Manoj Kumar
 
Answer
# 7
PURCHASE A/C DR. 11000
FREIGHT A/C DR. 6000
DUTY A/C DR. 4500
S. CREDITORS A/C CR. 21500
 
Is This Answer Correct ?    0 Yes 0 No
Khushi
 
Answer
# 8
Purchase a/c Dr. 17000/-
To Party a/c Cr. 17000/- (Including frieght chrges. Rs.
6000/-)
(Being bill booked towards Goods Imported included frieght
Charges)

Party A/c Dr. 11000/-
To Bank A/c.
(Being amt paid for Import of goods)

Duty Charges A/c Dr. 4500/- (Under Indirect Exps)
To Party A/c Cr. 4500/-
(Being Bill booked towards Duty Charges for Import)

Party A/c Dr.
To Bank A/c Cr. 4500/-
(Being Duty Charges Paid for import of goods)
 
Is This Answer Correct ?    0 Yes 0 No
Parshuram Warik
 
Answer
# 9
POURCHASE A/C DR. 11000
FREIGHT A/C DR. 6000
IMPORT DUTY A/C DR. 4500
TO SUNDRY CREDITOR A/C 21500
 
Is This Answer Correct ?    4 Yes 5 No
Manish Yadav
 
Answer
# 10
Purchase A/C Dr 21500
To Cash Account 21500

(Being amount paid for the purchasing
of goods worth Rs. 17000 (a) and duty
charges for the particular purchase is
Rs. 4500 (b). i.e., a+b=total amount
17000+4500=21500)
 
Is This Answer Correct ?    1 Yes 2 No
Vasuki
 

 
 
 
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