Interested to Buy Any Domain ? << Click Here >> for more details...
Company A has purchased goods worth Rs. 25000 from company B and made the cash payment of Rs 5000 and remaining will be payable with in 30 days.
Assume that there is a late payment charge @ 2% on remaining amount as the invoice was received after due date from company B.
Pass the journal entry in the books of company A for all the above transactions.
- 1 Answers
- 2870 Views
- SSPL, I also Faced
- E-Mail Answers
Answer / navin kumar
In the Books of Company A
Purchase A/C Dr 25000
To Cash 5000
To B Company 20000
Profit and Loss A/C Dr 400
To late payment Charge 400
| Is This Answer Correct ? | 3 Yes | 0 No |
The trial balance cheks: 1)Arithmetical mistake 2)honesty of the book keeper 3) valuation of the closing stock 4) nature of the business
Why Reserves and Surplus are shown on the liabilities side of the balance sheet.? justify your answer.
4 Answers Infosys, Muthoot Group,
tell me bill payable head and entry in tally
4 Answers Reliance, Tally Solutions,
Dear Sir, I have bought a vehicle the show room price is Rs.921700, Registration Rs.60000 Parking Charges Rs.5000 Please let me suggest What is assets value?
what is come first debit or credit? means in the bussiness debit comes first or credit
What is entry of Dishonored cheque issued to supplier
Why Prepaid rent is treated as Personal Account?
what is MD050
why we used D1, C4 & C form ? pl. ans me in detail.
what is the difference between accounting and bookkeeping?
At the time of depreciation run we selected actual dep key is 5% but we taken 7% so the depreciation was posted wrongly how to rectify it?
how calculate advance tax?
Audit 
