If a company purchase the goods for rs. 100 and intends to
Sell it for 200.
What is the journal entry for this?




Answers were Sorted based on User's Feedback



If a company purchase the goods for rs. 100 and intends to Sell it for 200. What is the journal ent..

Answer / satyaki_raju@yahoo.com

Mr Guest pl name yourself.
Intension may not be materilised.Then how you can pass
journal entry and also pl let me know where did you find
purchase and sale in one transaction.In my total experience
i didnt find so far. Pl be healthy in practice

Is This Answer Correct ?    36 Yes 4 No

If a company purchase the goods for rs. 100 and intends to Sell it for 200. What is the journal ent..

Answer / priya

Purchase A/c Dr 100
To cash A/c 100

Cash A/c Dr 200
To Sales A/c 200

Cash A/c Dr 100
To Profit&loss A/c 100

Is This Answer Correct ?    29 Yes 9 No

If a company purchase the goods for rs. 100 and intends to Sell it for 200. What is the journal ent..

Answer / ashok

purchases A/c Dr. 100
To cash A/c 100

cash A/c Dr. 200
sales A/c 200

Is This Answer Correct ?    15 Yes 0 No




If a company purchase the goods for rs. 100 and intends to Sell it for 200. What is the journal ent..

Answer / damu

Purchase account Dr......100
To Cash account.............100

Cash account Dr..........200
To Sales account............200
(Being goods sold in cash)

Is This Answer Correct ?    12 Yes 1 No

If a company purchase the goods for rs. 100 and intends to Sell it for 200. What is the journal ent..

Answer / surya

At the time of Purchase:
Purchase/Goods A/c Dr 100
to Cash/Vendor 100

At the time of Sale

Cash/Customer A/c Dr 200
to Sales 200

Is This Answer Correct ?    12 Yes 2 No

If a company purchase the goods for rs. 100 and intends to Sell it for 200. What is the journal ent..

Answer / avirup chaudhuri

I feel so far we don't have the right answer for the
question mentioned,though i'm not criticising anybodies
answer here, but I am writing what my knowledge says :

1stly,In the question,nowhere is mentioned that, goods are
sold.Intention should not be materilised.So, we should not
pass journal entry

2ndly,Here creditors name is not mentioned.so, no question
of writing creditors name here.

Answer for this question:

Purchase A/c----------Dr. 100
To cash A/c 100
(Being the goods purchased)

Is This Answer Correct ?    6 Yes 1 No

If a company purchase the goods for rs. 100 and intends to Sell it for 200. What is the journal ent..

Answer / nagaraj

Intention can no to be accounted, we can pass the journal
entries based on assumption i.e, cash purchase and cash
sales or credit purchase or credit sales.

If Credit purchase;

Purchase A/c Dr 100.00

To XXX A/c (Creditor) 100.00
(Being purchased goods on credit
vide InV no XXXXX Dt: yyyyy)

If Credit Sales;

YYYY A/c (Debtor) Dr 200.00

To Sales A/c 200.00

(Being goods sold on credit
vide Inv No xxxx Dt: yyyyyy)

Is This Answer Correct ?    4 Yes 0 No

If a company purchase the goods for rs. 100 and intends to Sell it for 200. What is the journal ent..

Answer / pari

To Purchase A/c Dr 100
To Cash A/c Cr 100

To Cash A/c Dr 200
To Sales A/c Cr 200

Is This Answer Correct ?    2 Yes 1 No

If a company purchase the goods for rs. 100 and intends to Sell it for 200. What is the journal ent..

Answer / vamshidharreddy

PURCHASES a/C dr 100

CASH a/C DR 100


TO sALES a/C 200

(PURCHASES OF GOODS FOR 100 PROFIT OR CASH)

Is This Answer Correct ?    1 Yes 0 No

If a company purchase the goods for rs. 100 and intends to Sell it for 200. What is the journal ent..

Answer / shahabuddin

cash a/c dr
to profit/loss a/c
to sales a/c

Is This Answer Correct ?    0 Yes 0 No

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