what will be the entry for credit purchases with discount
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Answer / vaishali
Purchase Account A/c Dr.
To Vendor
To Discount
| Is This Answer Correct ? | 67 Yes | 2 No |
Answer / pradeep
purchase a/c dr 50000
To suppliar a/c 45000
To discount a/c 5000
| Is This Answer Correct ? | 18 Yes | 3 No |
Answer / arif zaki imam
Purchase A/c........Dr.
To Party A/c
To Discount Recieve A/c
| Is This Answer Correct ? | 13 Yes | 1 No |
Answer / syed rahman
Purchase account Dr.
To Creditor Account
To Discount Account
| Is This Answer Correct ? | 14 Yes | 5 No |
Answer / pankaj kr. jangir
PURCHASE A/C DR.
TO SUPPLIER A/C CR.
TO DISCOUNT A/C CR.
| Is This Answer Correct ? | 10 Yes | 1 No |
Answer / shiv koul
Purchase A/c------Dr.
To Discount Received A/c
To Sundry Creditors A/c
| Is This Answer Correct ? | 9 Yes | 0 No |
Answer / ashish
Purchase A/c------Dr.
To Discount Received A/c
To Sundry Creditors A/c
| Is This Answer Correct ? | 8 Yes | 1 No |
Answer / chandu
purchase A/c...........dr
To vendors A/c
To Discount A/c
| Is This Answer Correct ? | 7 Yes | 0 No |
Answer / gouthami
purchases a/c -----------dr ****
To suppliers a/c ****
narration:Being credit purchases
2.when amount is being paid
suppliers a/c----------dr ****
To cash a/c ****
To discout received a/c ****
narration: Being the amount paid to suppliers.
| Is This Answer Correct ? | 8 Yes | 2 No |
Answer / shaheed
purchase a/c Dr
To creditor a/c
To discount received a/c
| Is This Answer Correct ? | 3 Yes | 0 No |
From the following Trial Balance of Seema Garments as on 31st Dec., 2007, prepare Trading Profit and Loss Account and Balance Sheet: Dr. Rs. Cr. Rs. Opening Stock 15000 Purchases and Sales 109000 180000 Manufacturing Wages 8000 Fuel, Power and Lighting 12000 Salaries 11000 Income Tax 5500 Loan to Mr. X at 10% pa. 5000 Interest on Mr. X’s Loan 300 Apprentice Premium 4500 Rent 4000 Rent Owing 600 Furniture (includes furniture of Rs.1000 purchased on 1st July, 2007) 5000 B/R and B/P 6000 1600 Plant 72000 Debtors and Creditors 28000 13000 Capital 100000 Cash 19500 300000 300000 Informations: 1. Closing Stock was valued at Rs. 30,000. 2. Goodsworth Rs. 5000 was sold on 28th December, but no entry was passed to this effect. 3. Goods costing Rs. 7000 was purchased and included into Stock but no entry was passed to record the purchases. 4. Create a provision of 2% for discount on debtors. 5. Apprentice premium received on 1st January, 2007 was for 3 years. 6. Depreciate the furniture by 10% p.a. 7. Salaries for the month of December, 2007 are still outstanding.
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WHAT IS ENTRY WHEN WE PURCHASE MATERIAL FROM PUNJAB PARTY AND DONE JOB WORK ON THESE MATERIAL FROM HARYANA PARTY. PUNJAB PARTY SEND THIS MATERIAL DIRECTLY TO HARYANA PARTY FOR JOB WORK INSTEAD OF US.AND HARYANA PARTY SEND THIS MATERIAL TO US. MY COMPANY SITUATED IN HARIDWAR. WHICH FORM ISSUE IN THIS TRANSACTION.PLS GUIDE ME.
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