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pLAESE TELL ME ENTRY ONE PURCHASE BILL RECEIVED THERE IS
PURCHASE AMOUNT 15000/- INPUT VAT 4%-600, FREIGHT CHARGE IS
400/ .SO THAT IS THE ENTRY

Question Posted / mahendra

Answers were Sorted based on User's Feedback



pLAESE TELL ME ENTRY ONE PURCHASE BILL RECEIVED THERE IS PURCHASE AMOUNT 15000/- INPUT VAT 4%-600,..

Answer / jenapkumar

hai dear
here is your entry

If goods purchased and freight paid in cash.

Purchase A/c Dr 15000/-
Input Vat A/c Dr 600/-
Freight A/c Dr 400/-

To XXXX (Name of the party) 15600/-
To Cash 400/-
(Being Goods purchased vide bill No. xxx dated xxx)

Is This Answer Correct ?    6 Yes 1 No

pLAESE TELL ME ENTRY ONE PURCHASE BILL RECEIVED THERE IS PURCHASE AMOUNT 15000/- INPUT VAT 4%-600,..

Answer / khan

Please see the answer as follows.

it is depend on terms and conditions if it is including C&F
( Cost and Freight ) then entry will be.

Purchase A/c Dr 15000/-
Input Vat A/c Dr 600/-
Freight A/c Dr 400/-

To XYZ (Name of the party) 16000/-

if it is except Freight then seen below answer

Purchase A/c Dr 15,000.00
Input Vat A/c 600.00

To XYZ ( Name of the party ) 15,600.00

then after freight u have to pay separate.

Freight A/c Dr 400
To Cash/Bank 400.00

Is This Answer Correct ?    5 Yes 0 No

pLAESE TELL ME ENTRY ONE PURCHASE BILL RECEIVED THERE IS PURCHASE AMOUNT 15000/- INPUT VAT 4%-600,..

Answer / venkatesh

dear sir,

purchase entry,

Purchase a/c Dr 15000/-
Input vat a/c Dr 600/-
To sundry creditors 15600/-
(being purchase of goods vide their bill no.xxx dt xx)

freight a/c Dr
To cash a/c
being freight paid)

Is This Answer Correct ?    4 Yes 3 No

pLAESE TELL ME ENTRY ONE PURCHASE BILL RECEIVED THERE IS PURCHASE AMOUNT 15000/- INPUT VAT 4%-600,..

Answer / rajesh

Here is the Entry
you will be getting Purchase Bill for Rs.16,000/-.

DR Purchase A/c -15000/-.
DR Input Tax VAT @ 4% - 400/-.
DR Freight Charges - 400/-.
CR XXX ( Party Name ) -16000/-.

Is This Answer Correct ?    7 Yes 6 No

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