Pass a entry for purchase a material for Rs. 2000 inclusive
of VAT @ 4% on Rs. 1500 & @12.5% on Rs. 500 with narration
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Answer Posted / yash
( if Cash Purchase)
Net Purchase 4% 1442
VAT 4% 58
Net Purchase 12.5% 444
Vat 12.5% 56
Cash 2000
( Being cash purchases)
( if credit purchase)
Net Purchase 4% 1442
VAT 4% 58
Net Purchase 12.5% 444
Vat 12.5% 56
Party A/c. 2000
( Being ... purchase of material on credit)
Party A/c. 2000
Cash/Bank A/c 2000
(Being paid ch. / cash )
| Is This Answer Correct ? | 31 Yes | 2 No |
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