Credit purchase entry

Answer Posted / s4sridhar@gmail.com

Raw Material A/c. Dr. XXX

To Sundry Creditors A/c. Cr. XXX

Note to all: Since we are receiving (any) material so it
should be debit instead of debiting Purchases .

Is This Answer Correct ?    1 Yes 10 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

rate of vat on gold purchase local & o.m.s. & rate of % in sale local & o.m.s.

1230


Explain what is account receivable?

625


Explain me have you ever heard about tds, what it is?

631


Where do we show "Dividend paid in FFS ,either in FFO or in FFS? what is teh concept behind?

1552


my brother is out of country i have lost his bank passbook when i was going to bank for the entries is their essential to take duplicate pass book can my brother is present for this.

1136






As you know account executives need to be talented salespeople. Do you have experience making sales?

607


What entry to be passed for Duty draw back as receivable

1421


what is the difference b/w gain and profit?

1506


Why does the accounting equation have to balance?

629


What is the definition of accounting?

620


Is there Disqualification of Auditor u/s 139 of Companies Act 2013 if the auditor is indebted towards the company to be appointed as an auditor, if amount exceeds more than Rs.1000 as against the provision related to Companies Act, 1956 ?

1300


Explain what does financial statement of the company includes?

606


what is the right process for input credit of Service tax. and on which service i can take credit.

1389


Dear Sir, Tomorrow i am going for interview at TCS-Mumbai.Please let me know what kind of question are going to be asked.

1535


Tell us depreciation and its types?

637