i have purchase goods for Rs.100 and company say you sell
this goods for Rs. 80 and raised a debit note for diffrence
amount and he fix 5 % commision on sales value what is
journal entry passed in tell with narration?
- 9 Answers
- 8926 Views
- I also Faced
- E-Mail Answers
Answer Posted / deva
Purchase a/c......Dr....100
To Creditor a/c.................100
Debtor a/c.....Dr.......80
Comm a/c.......Dr.......04
P&L a/c........Dr.......16
To Sales a/c....................100
| Is This Answer Correct ? | 13 Yes | 1 No |
Post New Answer View All Answers
What is an operative accounts?
what are the charecteristics of cost accounting financial accounting managment accounting payroll accounting environmental accounting h r accounting forensic accounting inflation accounting?
what is the manual procedure for accounting
if we have provision for bad debts and RDD then on which amount we have to calculate RDD original or deducted?
WHAT IS MIS REPORT IN ACCOUNTS ? WHAT IS ITS USE IN ACCOUNTS & GIVE WITH AN EXAMPLE ?
Explain what is gaap?
I purchased a machine and finance it by bank with the amount 1900000 and bank apply the finance charge 440000 for 3 years finance how to pass this entry still machine value is 2200000 is finance charge is interest (indirect exp.) pls help me.
I want to know accounting information in oracle apps projects costing module. i.e Which account is cr and which account db. Please help me.
A manufacturer want to sale his product in Rs 110/ where his manufacturing cost is 100.what will be tax for the product in different way.If he want to sale his product outside the state then what will be the taxation way. I want to know as urgent.Hope you will describe me as brakewise statement with example.
what do you maen by Expected rate of return ? Is there any formula for expected rate of return? what is systematic & unsystematic risk ? how to calculate both the risk?
A motor car purchased on 1 apr 10 worth rs 10000 taking a loan from bank of rs 8000. Emi will b 500 pm inclusive of interest rs 100 pm.all repayments are done by bank overdraft. Prepase bshEet & P&L as at 31 mar 10
What is accounting period?
What is finance lease? What are bonus Shares? entry for it. What is Depreciation? What is the Journal Entry? What is DPS? What is minority Interest? where it is shown?
Tell me what is public accounting?
how many times we can deposit the old currency in one a/c in the bank
