A machinery item puchase form M/s. XYZ for the cost of
Rs.2,00,000/- with freight charges Rs.20,000/- and
installation charges Rs.10,000/- what is the journal entry
Answers were Sorted based on User's Feedback
Answer / acp
By Machinery a/c dr. Rs.2,30,000/-
To M/s. XYZ Cr. Rs.2,30,000/-
(all the extra exp. i.e. freight & installation charges
added in machinery items rate then the value of machinery
item and capitalised)
Is This Answer Correct ? | 51 Yes | 6 No |
Answer / sajay guptha
machinery A/c Dr
freight A/c Dr
installation charges A/c Dr
To XYZ Cr...
Is This Answer Correct ? | 23 Yes | 22 No |
Answer / kusuma
Machinery A/c DR 210000/-
Freight charges A/c DR 20000/-
To XYZ A/c CR 230000/-
Is This Answer Correct ? | 0 Yes | 1 No |
double entry system
1 Answers Spedag Interfreight,
What do we mean by Redemption of shares and debentures?
Define offset accounting?
What are the major components of country's trade account?
0 Answers Franklin Templeton, Industries Promotion Officer, Wipro,
What is the logic behind this entry P & L Appropriation A/c ..........Dr. To Provision for income tax A/c
WHAT IS RTGS
on what rate depreciation will be calculated?
what is the diff btw charge and appropriation
7 Answers Capital IQ, FactSet Systems, HP,
HOW PASS A TDS DUE ENTRY
How new/innavtive assets are to be treated under IFRS?
In which group " charity" will come under.....in tally?
what is mean by sample account and data transfer rule in SAP FI?