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Categories >> Accounting >> Accounting AllOther
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
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 Taxation interview questions  Taxation Interview Questions (1899)
 Accounting General interview questions  Accounting General Interview Questions (2810)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4363)
Question
what is the journal entry?
goods purchased by ram on credit for 1000 which includes 
vat rs.100 in it
 Question Submitted By :: Accounting-AllOther
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
purchase a/c. dr. 900
vat a/c dr. to 100
(party name) 1000
(being goods purchase by ram on credit including vat)
 
Is This Answer Correct ?    73 Yes 6 No
Anil
 
Answer
# 2
purchase material a/c dr 900

vat payable a/c dr 100

TO RAM'S A/C. 1000

(BEING GOODS PURCHASED ON CREDIT)
 
Is This Answer Correct ?    40 Yes 20 No
Moti
 
 
 
Answer
# 3
Dr Purchase of goods A/c---900
Dr Vat input A/c 100
Cr Suppliers A/c 1000
(Being goods purchase which is inclusive of vat tax)
 
Is This Answer Correct ?    19 Yes 3 No
Satyanarayana Raju
 
Answer
# 4
Purchases a/c dr 900
Vat input a/c dr 100
To supplier a/c 1000
(Being purchase on credit)
 
Is This Answer Correct ?    18 Yes 2 No
Satyaki_raju@yahoo.com
 
Answer
# 5
Purchase A/c Dr 900
Input vat A/c Dr 100
Ram A/c Cr 1000

(being goods purchase on credit as per bill no-)
 
Is This Answer Correct ?    19 Yes 12 No
Akhtar
 
Answer
# 6
all purchases must be debited hence debited
Vat tax which is added to purchases is an input tax All
input taxes will be debited.Any payable is a liability and
will be always on credit side only.Here Ram purchased from
somebody so somebody(supplier) has to be credited
 
Is This Answer Correct ?    8 Yes 5 No
Annapurna
 
Answer
# 7
Purchases a/c Dr. 900
Input Vat a/c Dr. 100
To, Ram's a/c 1000
(Being credit purchases from Ram)
 
Is This Answer Correct ?    3 Yes 0 No
Deepak Jain
 
Answer
# 8
Purchases a/c Dr. 900
Vat a/c Dr. 100
To Creditors a/c 1000
 
Is This Answer Correct ?    4 Yes 2 No
Anuradha Singla
 
Answer
# 9
purchas ac dr 1000
to rams ac 1000
 
Is This Answer Correct ?    2 Yes 0 No
Lokesh
 
Answer
# 10
party a/c dr
TO:SALES A/C CR
TO; VAT CR
 
Is This Answer Correct ?    2 Yes 1 No
Vinoth
 

 
 
 
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