what are journal entry of vat in sale transaction with
example.
- 1 Answers
- 9683 Views
- I also Faced
- E-Mail Answers
Answer Posted / atul pandey
The journal Entry of Sales transaction of vat is
Party A/c DR...
To Vat A/c
To Sales A/c
For E.g suppose A company X made a sale of 10000 to Company
z and there is a amount of Vat 5 percent in it. so the
entry made in X A/c is
Z A/c DR......... 10000
To Vat A/c .........477
To Sales A/c .......9523
| Is This Answer Correct ? | 23 Yes | 6 No |
Post New Answer View All Answers
Tell me what is reversing journal entries?
What was your most complicated sales cycle in past positions?
If there is an excess amt of TDS paid under the head TDS on contractor, then how it can be shown in Annexure of TDS return?
what will be the possible question for an interview in account post as a fresher
Tell me what is your track record for consistently achieving your targets?
Why we debit expenses and credit incomes ?
Opening stock 17499565 purchses 89693855 expanditure 1735800 deprciation 223309 patner salary 300000 interst paod 937500 provisions 119265 sales 91600120.adjustment 1 gross profit is 6.72percentage on sales.2.net profit is 3.10 percent on sales
Tell me how many types of business transactions are there in accounting?
What are the methods used in different industries for labor and non-labor costs in Projects.
{in tally}in inventory info what is (stock group, stock categori, stock item,reorder levels) why we has to prepare them?
Why company issue shares at discount as its a loss ?
What accounts are to be debited and credited in this case o
Ledger Enteries
What is the difference between consigner and consignee?
Why have you applied to our firm?
