I took printer from stock, previously I purchased this printer
for £60 plus Vat.
What entries do I need to put through the books?
Answers were Sorted based on User's Feedback
Answer / reddy
HI IAM REDDY -MOBILE- 9008343183. BANGALORE
1) PRINTER A/C Dr 60.00
VAT @ % A/C Dr **.00
TO SUPPLIER A/C (60 + VAT AMOUNT)
(BEAING PRINTER PURCHASED FROM --/BILL NO:)
2) SUPPLIER A/C Dr (60 + VAT AMOUNT)
TO CASH/BANK A/C "
(BEAING CASH PAID TO SUPPLIER)
|Is This Answer Correct ?||3 Yes||0 No|
if the stock of business used for personal purpose
then the following entrty has been made>>>>
Drawing A\c Dr
To Purchase A\c
(Being goods used for the personal purpose)
otherwise if the stock (printer) used for the business
purpose then alternative entry should be made>>>
Printer (Assets) A\c Dr
To Purchase A\c
(Being goods converted into Assets)
|Is This Answer Correct ?||3 Yes||2 No|
Answer / pawan kumar joshi
This question is definatly wrong......
therefore I can't able to give the answer of that
|Is This Answer Correct ?||1 Yes||0 No|
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