WHAT ENTRY PASSED IN BOOOKS OF ACCOUNT IF INVOICE BILING AS UNDER :.

WHAT ENTRY PASSED IN BOOOKS OF ACCOUNT IF INVOICE BILING AS
UNDER :.
SUB TOTAL = 428325.45
VAT @12.5%= 53540.68
Additional vat 1%= 4283.25
ORDER DISCOUNT = (9722.99)
ROUNDED OFF = 0.39
--------------------------
NET AMOUNT = 476426.00

Question Posted / asif beg

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WHAT ENTRY PASSED IN BOOOKS OF ACCOUNT IF INVOICE BILING AS UNDER :. SUB TOTAL = 428..

Answer / asif beg

ENTRY :.
PURCHASED A/C DR. 428325.45
VAT ON PURCHASE A/C DR. 57823.54
TO PARTY A/C 476426.00
TO DIS. REC. 9722.99
(BEING GOODS PURCHASED)
THANK YOU

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WHAT ENTRY PASSED IN BOOOKS OF ACCOUNT IF INVOICE BILING AS UNDER :. SUB TOTAL = 428..

Answer / praveen reddy

purchase a/c Dr 4,28,325.45
input vat 12.5%a/c Dr 53,540.68
additional vat 1%a/c Dr 4,283.25

To discount received a/c 9,722.99
To party name a/c 4,76,426.00
To round of a/c .39

(being purchased goods)

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0 No

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