ALLInterview.com :: Home Page            
 Advertise your Business Here     
Browse  |   Placement Papers  |   Company  |   Code Snippets  |   Certifications  |   Visa Questions
Post Question  |   Post Answer  |   My Panel  |   Search  |   Articles  |   Topics  |   ERRORS new
   Refer this Site  Refer This Site to Your Friends  Site Map  Bookmark this Site  Set it as your HomePage  Contact Us     Login  |  Sign Up                      
Google
   
 
Categories >> Accounting >> Accounting AllOther
 
 


 

 
 Audit interview questions  Audit Interview Questions (427)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (158)
 Taxation interview questions  Taxation Interview Questions (1899)
 Accounting General interview questions  Accounting General Interview Questions (2810)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4360)
Question
what is the journal entries of a debit/credit  notes in the
books of seller and purchaser's A/C.
 Question Submitted By :: Accounting-AllOther
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
Credit Note: Seller

( E.g) When we give any discount or sale return )

Discount Allowed/Sale Return xxxx ( Dr)

to Party Account xxxxx ( Cr)


Debit Note : Purchaser

( E.g When he received discount / purchase retrun to seller)

Party Account xxxxxx ( Dr)

to Discount Received/Purchase retunr xxxxx( Cr)
 
Is This Answer Correct ?    68 Yes 5 No
Rajinder Dhawan
 
Answer
# 2
IN THE BOOKS OF SELLER :-
debit note :-
by party a/c debit ----xxx
to sales a/c--------------xxx
to vat a/c---------------xxx

credit note:-
BY SALES A/C debit -----XXX
BY VAT A/C DEBIT -----XXX
TO PARTY A/C CR--------------XXX
in the books of purchaser the journal entry opposite
 
Is This Answer Correct ?    74 Yes 21 No
Rdiyewar
 
 
 
Answer
# 3
IN THE BOOKS OF SELLER :-

Debitnote :-

party a/c Dr xxx
To sales a/c xxx
To vat a/c xxx
(Vat payable)
Creditnote:-

Sales A/C Dr XXX
VatA/C Dr XXX
(Vat Receivable)
TO partyA/C XXX
(Inthe books of purchaser the journal entry is just
opposite to the seller)
 
Is This Answer Correct ?    25 Yes 5 No
Sridharan.v
 
Answer
# 4
Credit note:

Debit Sales a/c

and Credit party's a/c

Debit note:

Debit party's a/c
And Credit the sales a/c
 
Is This Answer Correct ?    18 Yes 5 No
Aslam
 
Answer
# 5
1) This debit not entry purchas account debit and vat
accounts credit. this entry in debit side.

2)This credit not entry seller account credit and vat
account debit entry.
 
Is This Answer Correct ?    12 Yes 3 No
Jitendra B Jagtap
 
Answer
# 6
debit revenue
credit Receivable
 
Is This Answer Correct ?    3 Yes 2 No
Jane
 
Answer
# 7
debit note books of seller.

party a/c dr.
to Exps. a/c
 
Is This Answer Correct ?    19 Yes 20 No
Kuldeep
 

 
 
 
Other Accounting AllOther Interview Questions
 
  Question Asked @ Answers
 
Expand N D P   1
DIFFERNCE BETWEEN TRADING ACCOUNT AND PandL ACCOUNT ITC-Infotech 2
let me know the difference between statement of affairs and balance sheet   6
how do you charge Depreciation in p&l,(what basis and value?)   2
what is the step in preparing the schedule of audit? can someone explain for me?   1
Compare and contrast the accounting procedure followed by a sole trader and a partnership firm.   1
Who is a merchant   3
There is any new golden rule added with remain three? Why bank credited our all deposited?   2
what is accumulaated depreciation ? and wht is effect of it in profit and loss a/c and balance sheet ??   1
hwo to joine accountancy   1
Expand C C A   2
what is the difference between gross profit and net profit?   7
 
For more Accounting AllOther Interview Questions Click Here 
 
 
 
 
 


   
Copyright Policy  |  Terms of Service  |  Articles  |  Site Map  |  RSS Site Map  |  Contact Us
   
Copyright 2013  ALLInterview.com.  All Rights Reserved.

ALLInterview.com   ::  KalAajKal.com