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Received Invoice from Tvs Co. against purchase of 15 pcs of
Mouse @ 750 excluding VAT 4%, Pass journal entry in the necessary books of accounts?

Question Posted / meena madhekar

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Received Invoice from Tvs Co. against purchase of 15 pcs of Mouse @ 750 excluding VAT 4%, Pass jou..

Answer / g.siva kumar

invoice bill A/C Dr 11,250/-
4% VAT A/C Dr 450/-

To TVS co., A/c 11,700/-



(Being invoice bills received from TVS co. and 4% VAT is calculated on that invoice)

Is This Answer Correct ?    8 Yes 3 No

Received Invoice from Tvs Co. against purchase of 15 pcs of Mouse @ 750 excluding VAT 4%, Pass jou..

Answer / gourab mistri

the journal is

Dr/Cr Ledger Amount
Credit Tvs Co. 11,700/-

Debit VAT @ 4% 450/-
Debit Inventories/ Purchase 11,250/-


Narration: Being the amount credited to Tvs Co. for 15 pcs
of Mouse @750/- with VAT@4%

Is This Answer Correct ?    7 Yes 3 No

Received Invoice from Tvs Co. against purchase of 15 pcs of Mouse @ 750 excluding VAT 4%, Pass jou..

Answer / dharmendra samal

Purchase Dr. 11,250.00
Input VAT Dr. 450.00
TVS Co. Cr. 11,700.00

Is This Answer Correct ?    2 Yes 0 No

Received Invoice from Tvs Co. against purchase of 15 pcs of Mouse @ 750 excluding VAT 4%, Pass jou..

Answer / dharmendra

Purchase Dr. Rs. 11250.00 (i.e., 750x15)
Input VAT Dr. Rs. 562.50 (i.e., 5% on 11250/-)
TVS Co. Cr. Rs. 11812.50 (i.e., 11250+562.50)

Is This Answer Correct ?    2 Yes 1 No

Received Invoice from Tvs Co. against purchase of 15 pcs of Mouse @ 750 excluding VAT 4%, Pass jou..

Answer / mahendra

mouse purchase a/c dr. 11250
vat dr. 450
To Tvs Com. cr. 11700

Is This Answer Correct ?    1 Yes 0 No

Received Invoice from Tvs Co. against purchase of 15 pcs of Mouse @ 750 excluding VAT 4%, Pass jou..

Answer / kaushik

Purchase excluding VAT, means purchase from unregistered
dealer, so no entry requied to pass for VAT.Only Purchase -
dr & cr the Party,

Is This Answer Correct ?    2 Yes 2 No

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