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Vendor A/c Dr
To Purchases A/c Cr
In an entry what "TO"(Near Purchase) means or stands for or
used for or from which accounting angle we have to use.
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Answer / swetha
By accounting standard principles and concepts always
purchases should be debit
sales should be credit
for ex:if u purchase of goods on credit for rs 10/- from x
person then entry
purchases a/c - dr
To x a/c
if cash purchases means
purchases a/c -dr
To cash a/c
| Is This Answer Correct ? | 4 Yes | 1 No |
Answer / adapa.hemaseshasaithi
Dr has three different meanings depending upon the nature of the accounts
Personal account:Dr the receiver
Real account :Dr what comes in
Nominal account :Dr all expenses and losses
Cr also has three different meanings depending upon their nature of accounts
Personal account:Cr the receiver
Real account :Cr what goes out
Nominal account :Cr all incomes and gains
The word to is written in the second line to indicate that the dr is being transferred to the credit side of the respective a/c
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / adapa.hemaseshasaithi
Can anybody tell the nature of the purchases a/c and what is the reason for it?
| Is This Answer Correct ? | 0 Yes | 0 No |
Do you know offset accounting?
Re: one customer visit the showroom of phones and purchased the phone of Rs 750 and gave the 1000 rupees note the showroom executive didn't have the change so he take the change from next to his showroom's shop then he deliver the phone to customer with the change of rs 250.and customer went with both after sometime the shop owner of next to showroom who gave the change of Rs 1000 with angry and told the showroom executive that the note you give it to me is fake! so showroom executive gave him Rs1000 to him.so my(question) is how much the showroom executive faced the loss on this transaction. (the answer is neither 750,1000,1250,1500,1750 nor 2000) please reply the answer because its urgent with the explanation of u'r answer thankyou.
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