On goods purchases of Rs.2,00,000 got trade discount of
20,000 from supplier, and the amounts paid to supplier is
1,00,000 in cash and RS.1,00,000 in check on the same day,
what would be the general ledger entry ?
- 18 Answers
- 16302 Views
- Genpact, I also Faced
- E-Mail Answers
Answer Posted / murli vohra
People Giving the answer above are forgetting one thing that Trade Discount is not to be shown in book of accounts
Entry will be
Purchase Dr-180000
Supplier -Dr20000(bal figure)
To cash 100000
To Bank 100000
| Is This Answer Correct ? | 4 Yes | 3 No |
Post New Answer View All Answers
what single discount is to2 successive discount of 10%& 15%
where to show Preliminary expenses except "Statement of changes in working capital" in Fund flow statement?
what is the due date of 28th feb
please explain all accounting concepts n conventions in detail
Discuss the consistency concept in accounting
What is vendor?
HOW CAN WE CONVERT IN CFT TO A ROUND LOG??
what are the voucher entries in tally for medical insurance
what is t code of all expences general legder?
what is the entry for toll gate fee
Are you comfortable with cold-calling?
How will I post entries to Tally If I purchased a Car in Loan. The principal Amount = 62930 Interest = 6846 Total = 69776 We have to pay Rs 1191 every month for 4 years which include Principle amount and interest. how can I post the monthly entries to tally
HOW WE MADE ENTRY OF SURCHARGE ON VAT PURCHASE IN PUNJAB
What is the Project Accounting in case of Real Estate or Construction Co`s ?
What do you mean by ledger posting?
