Interested to Buy Any Domain ? << Click Here >> for more details...
What will be the Journal Entry for this?
Purchases goods from vendor worth Rs.20000.VAT included 4%.
- 28 Answers
- 38780 Views
- Ernst Young, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / sunit
PURCHASE A/C DR 20000
VAT 4% DR 800
TO ABC PARTY A/C 20800
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / mdwasim101@gmail.com
Purchase A/c Dr........19200
Input vat @4% Dr........800
To Vendor A/c ............2000
| Is This Answer Correct ? | 2 Yes | 3 No |
Answer / muba.mukadam
Purchase a/c.....................Dr
VAT a/c...........................Dr
to Vendor
| Is This Answer Correct ? | 2 Yes | 3 No |
Answer / sunder pal
PURCHASE A/C DR 19230
INPUT VAT A/C DR 770
TO VENDOR A/C 20000
| Is This Answer Correct ? | 3 Yes | 4 No |
Answer / fathima
If on cash basis then the entry is
Purchase a/c Dr 19,200
Input vat4% a/c Dr 800
To Cash 20,000
If on credit basis then the entry is
Purchase a/c Dr 19,200
Input vat4% a/c Dr 800
To Party 20,000
Party a/c Dr 20,000
To Cash 20,000
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / puneet
Purchases A/C Dr. 19200
Vat A/C Dr. 800
To Cash A/C 20000
| Is This Answer Correct ? | 3 Yes | 5 No |
Answer / anchit saxena
hello viewers, i m sorry to say actually i was also posted
wrong entry for this question due to confusion bt now i
rectify to this entry-
PURCHASE A/C DR. 20,000
INPUT VAT 4% A/C DR. 800
TO CASH A/C 20,800
BEING AMOUNT PAID TO THE VENDOR WITH 4% VAT FOR PURCHASED
GOODS.
| Is This Answer Correct ? | 1 Yes | 4 No |
Which account is responsible for interest payable?
WHAT IS FORM 'H".AND WE CAN USE THAT FROM 'H'
Golden Words Of Accounting?
why we multiply no. of purchasing year with average profit
what is the order in praparing the balance sheet, placing of assets
Field Status group in SAP is defined at which level? Please respond with one line reasoning for your thought.
purchased a laptop for Rs.50000 and received one calculator costing Rs.1000 for free. Both laptop and calculator (stationery in nature) are meant for office use.What will be the journal entry in the books of both the parties?
what is the right process for input credit of Service tax. and on which service i can take credit.
What is the general net worth percentage banks will observe while sanctioning the Loans for Tranding, Construction and Manufacturing units.
are tpt, freight & packing charges part of sales & purchase ??
What is GR form ? what its use please give me a details of GR ?
a purchase of Rs.750 from raghubir has been debited to his account.purchase account has been correctly debited.
Audit 
