Interested to Buy Any Domain ? << Click Here >> for more details...
What will be the Journal Entry for this?
Purchases goods from vendor worth Rs.20000.VAT included 4%.
- 28 Answers
- 38819 Views
- Ernst Young, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / sunit
PURCHASE A/C DR 20000
VAT 4% DR 800
TO ABC PARTY A/C 20800
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / mdwasim101@gmail.com
Purchase A/c Dr........19200
Input vat @4% Dr........800
To Vendor A/c ............2000
| Is This Answer Correct ? | 2 Yes | 3 No |
Answer / muba.mukadam
Purchase a/c.....................Dr
VAT a/c...........................Dr
to Vendor
| Is This Answer Correct ? | 2 Yes | 3 No |
Answer / sunder pal
PURCHASE A/C DR 19230
INPUT VAT A/C DR 770
TO VENDOR A/C 20000
| Is This Answer Correct ? | 3 Yes | 4 No |
Answer / fathima
If on cash basis then the entry is
Purchase a/c Dr 19,200
Input vat4% a/c Dr 800
To Cash 20,000
If on credit basis then the entry is
Purchase a/c Dr 19,200
Input vat4% a/c Dr 800
To Party 20,000
Party a/c Dr 20,000
To Cash 20,000
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / puneet
Purchases A/C Dr. 19200
Vat A/C Dr. 800
To Cash A/C 20000
| Is This Answer Correct ? | 3 Yes | 5 No |
Answer / anchit saxena
hello viewers, i m sorry to say actually i was also posted
wrong entry for this question due to confusion bt now i
rectify to this entry-
PURCHASE A/C DR. 20,000
INPUT VAT 4% A/C DR. 800
TO CASH A/C 20,800
BEING AMOUNT PAID TO THE VENDOR WITH 4% VAT FOR PURCHASED
GOODS.
| Is This Answer Correct ? | 1 Yes | 4 No |
sir, I wanted to know what is the difference between cash and cheque payment in terms of tax.
The Lessee's right to recover the short working is related to
what is eps
1, How enter Accumulated Deprication Journal Entry, (Land& Building Value 500000 AED, How to pass entry?
what is difference between tax invoiced & retail invoice
I have 3 units, can i vat returns all the three units only one vat form
Assume that the real risk-free rate is 3% and that inflation is expected to be 8% on year 1,5% in year 2,and 4% thereafter.Assume also that all Treasury bonds are highly liquid and free of default risk. If 2-year and 5-year Treasury bonds both yield 10%,calculate the difference in the maturity risk premium on the two bonds.
Does anyone have any other recent Factset interview questions?? what other types of technical questions do they ask consultants?
you have get 100RS but no 10RS note is required & there should be only 10 notes
What is BRS
What is Rectification of Errors and types of errors?
What is mean by capital gain
Audit 
