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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.

Question Posted / t.v.s

Answers were Sorted based on User's Feedback



Vendor A/c Dr To Purchases A/c Cr In an entry what "TO"(Near Purchase) means or stands f..

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

Vendor A/c Dr To Purchases A/c Cr In an entry what "TO"(Near Purchase) means or stands f..

Answer / tvs

Hi Swetha,
purchase and cash account was an example. my question is what DR & CR means and Y only "TO" mentioned in second line. reason?, how u should consider.
thnks
TVS

Is This Answer Correct ?    0 Yes 0 No

Vendor A/c Dr To Purchases A/c Cr In an entry what "TO"(Near Purchase) means or stands f..

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

Vendor A/c Dr To Purchases A/c Cr In an entry what "TO"(Near Purchase) means or stands f..

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

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