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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?
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Answer / 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 |
Answer / b.narasimha rao
PURCHASE A/C DR 100
TO CREDITOR A/C 100
CREDITOR A/C DR 20
TO PURCHASE RETURN A/C 20
CASH A/C DR 80
TO SALES A/C 80
COMMISION A/C DR 04
CASH A/C 04
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / dhananjayan
Purchase A/c Dr. 100
To Supplier A/c 100
Being purchase of goods)
Cash A/c Dr. 80
To Sales A/c 80
Being sale of goods)
Supplier A/c Dr. 20
To Purchase A/c 20
Being debit note raised for rate difference)
Commission on sales A/c Dr. 4
To Commission Payable A/c 4
Being 5% commission payable on sales)
Commission Payable A/c Dr. 4
To Bank A/c 4
Being commission paid on sales)
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / neer
1) purchases- dr 100
to Credotor 100
(being booked full puchases let say on 1april)
2) creditor - dr 20
to purchase return 20
(being return booked on let say 2 april)
3) debtor - dr 84
to Comission 4
to Sales 80
(being Assuming that amount of Commissiom is Charged From
Debtor)
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / ospanwar
Answer
purchases a/c dr 100
to Supplier a/c cr 100
(being purchased goods for cash)
cash a/c dr 76.00
Commision on sale Dr. 4.00
to sales cr 80
(being the sales is made in cash )
Supplier a/c dr 20
to purchasea/c cr 20
(being the debit note issued fo supplier)
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / jijesh
purchases a/c dr 100
to cash 100
(being purchased goods for cash)
cash a/c dr 80
to sales 80
(being assumes that sales is made )
cash a/c dr 20
to purchase return 20
(being rs 20 worth goods returned)
commission paid a/c dr 4
to cash 4
(being commission paid for the staff who sold goods worth
rs 80)
| Is This Answer Correct ? | 3 Yes | 2 No |
Answer / mou jana
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 ? | 1 Yes | 0 No |
Answer / abhilash
purchase A/c dr 100
to Supplier A/c 100
(being credit purchase )
Buyer a/c dr 100
to Sales 100
(Being Sales )
commission on sales a/c dr 4
To Buyer 4
(Being commission paid on sales @ 5% on rs.80/-)
Discount A/c Dr 20
To Buyer 20
(Being Debit note issued to Buyer)
| Is This Answer Correct ? | 1 Yes | 3 No |
Answer / iyyanar
1)Purchase a/c Dr. Rs.100
To Creditor A/c Rs. 100
Purschased goods for for Rs.100
2)
Cash A/C Rs. 80
Commision A/C Rs. 3.2
To Sales A/C Rs. 83.2
sold goods for Rs. 83.2
3) Sales Return Rs. 20
To Cash A/C Rs. 20
Goods returned by customer
| Is This Answer Correct ? | 3 Yes | 9 No |
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