Question { Chintan Sales, 42574 }

What is an E-1 Sales.

Answer

E1 SALES/FIRST TRANSIT SALES

a) if goods are sold a dealer in other states is called normal cst sales

b) if goods are sold a dealer in other states while the goods are in the transit. then it is called first transit sales or E1 sales

c) first transit sales or E1 sales are exempt from CST

d) in first transit sale E1 from is issued by the seller and it is a certificate for the first transit sale.

e) E1 from is prescribed by CST rules 1957

E2 SALES/ SECOND TRANSIT SALE

if the buyer of first transit sales of goods sells the same goods to a dealer in the other state while the goods are in the transit then it is called 2nd transit sale/E2 sales

b) the seller of second transit sale shell issue E2 Form to the buyer

c)E2 Form is prescirbed by CST rules 1957

d) 2nd transit sale is exempt from cst

Question { Genpact, 25250 }

The Actual Rent was 12000,in the month of Feb i had paid
15000 and in the month of march i had paid 3000. Pass the
necessary Journal entry for this.

Answer

for the month of february
journal voucher

rent a/c dr 12000
to rent paayable a/c 12000

payment voucher

rent payable a/c dr 15000
to cash/bank a/c 15000

for the month of march journal voucher

prepaid rent a/c dr 3000
to rent payable a/c 3000


rent a/c dr 9000
to rent payable a/c 9000

payment voucher


rent payable a/c dr 3000
to cash/bank a/c 3000

for the month of april JV

rent a/c dr 18000
to rent payable 18000

Question { Genpact, 25250 }

The Actual Rent was 12000,in the month of Feb i had paid
15000 and in the month of march i had paid 3000. Pass the
necessary Journal entry for this.

Answer

for the month of february
journal voucher

rent a/c dr 12000
to rent paayable a/c 12000

payment voucher

rent payable a/c dr 15000
to cash/bank a/c 15000

for the month of march journal voucher

prepaid rent a/c dr 3000
to rent payable a/c 3000


rent a/c dr 9000
to rent payable a/c 9000

payment voucher


rent payable a/c dr 3000
to cash/bank a/c 3000

for the month of april JV

rent a/c dr 12000
to rent payable 12000

total out standing rent
in the march month 6000
present month april 12000

total outstanding rent 18000 to pay

Question { Accenture, 12083 }

How can pass the entry stock goods loss by fire or theft

Answer

abnormal loss a/c dr XXXXX
To purchase a/c XXXXX

Question { 5501 }

in which head ESI A/c will be come?

Answer

it comes under Provisions (current liability)
(JV)
salary a/c dr 100000
To esi payable a/c 1750
To PF payable a/c 12000
To salaries payabl a/c 86250

(PV)
ESI Payable a/c dr 1750
To Bank a/c 1750

PF payable a/c dr 12000
To Bank a/c 12000

Salaries payable a/c dr 86250
To Bank a/c 86250