1) XYZ Ltd bought goods for Rs.200000 from ABC Ltd. The co
gave 10% discount. give journal entries in the books of ABC
Ltd and XYZ Ltd.
2) Goods bought for Rs.400000. While transporting goods
destroyed. Insurance co agreed to pay 75%. post journal
entries.
Answer Posted / shoukath ali k.p
jounel entry
purchase A/C Dr 200000
To ABC Ltd 180000
To discount recived 20000
( Being purchase goods Rs:200000/- from ABC ltd agst bil
no ; and discount recived Rs;20000/-)
Is This Answer Correct ? | 3 Yes | 1 No |
Post New Answer View All Answers
What is the difference between provision and reverse?
WHY CST CHARGED BILLS ARE RETAIL INVOICES.IT CANT BE TAX INVOICE.
Tell me do you have any professional experience of this field?
the bank returned S meyer cheque for R450. the cheque has been dishounerd because of insufficient funds, discount of R50 was allowed the account was settled
Private purchases amounting to rs 5000 have been debited to purchases account
please inform me , how to make employee ladger account of salary...please inform me with entry..e.g if we give 14000 salary, as structure we put it half amount in advance and half is salary so in this case how to make entry in employee ledger account...please inform me...both things..Thank You.
Sold goods to Gasha 600 by cash
rate of vat on gold purchase local & o.m.s. & rate of % in sale local & o.m.s.
Tell us do you have any idea about service tax or excise?
credit card all entry pass in tally
What can go wrong if you have a balance sheet with a lot of debt? What can go wrong if there is negative owner's equity? What does a good cash flow statement look like and why?
Can it be possible to transfer FCRA funds to an ngo who don't have FCRA registration no.
What was the most difficult deal you had to close?
Can a company deduct TDS & provide TDS certificate for a bill without actually making payment towards the same??
What is double-entry accounting? Explain with an example?