I am a Leaving Cert Student. From Solutions to exam questions etc. I know what to do with the following adjustment but I cannot explain why. A thypical Adjustment is: A building is acquired for €60000 plus VAT at 10%. The amount paid to the Vendor was entered in the Buildings Account. No entry made in the VAT account. Could you explain why the VAT amount is deducted from the VAT amount in the TB? And why it is sometimes an Asset in the BS. Thank you, Mary
- 0 Answers
- 1299 Views
- College School Exams Tests, I also Faced
- E-Mail Answers
No Answer is Posted For this Question
Be the First to Post Answer
advance received from customer what is the general entry
what is BRS and how it is prepared in BPO sector?? Please answer fast.....
5 Answers EXL, FIS, Genpact, Riscure,
What will be the general entry for purchase return? What will be the general entry for sales return?
What is an interest rate swap
What is difference between financial lease & operating lease (IAS 17)? Also pass the journal entry treatment for both the leases.
MY QUESTION IS OUR EMPLOYEE PAID SCHOOL FEES & TUTION FEES & BUS FEES FOR CHILD EDUCATION. IN WHAT KIND OF FEES WE TAKE DEDUCTION UNDER 80 C.
sold merchandise at rs 11,000 price and received in cash 9,000 what will be the journal entry
what are the supporting documents of expenses?
what is the difference between cost of goods sold and cost of sales ?
what is t code of journal voucher report with amount?
a company recive 5 demand draft in different parties 2 DD sumittted to bank for collection and it's collected. what is the closing entry of other 3 DD in the company on that date?
case flow
Audit 
