purchased a laptop for Rs.50000 and received one calculator
costing Rs.1000 for free. Both laptop and calculator
(stationery in nature) are meant for office use.What will
be the journal entry in the books of both the parties?
Answer Posted / asif
purchase a/c. 50000
to cash 50000
calculator could not
added. becouse that is
free of cost
| Is This Answer Correct ? | 4 Yes | 3 No |
Post New Answer View All Answers
Can salary paid to promoters before incorporation be taken as a part of pre-incorporation expense? If yes how is the TDS part to be dealt with?
accounting principles, accounting concepts,meaning of managment and financial accounting and cost accounting.
Richman Corporation has 120,000 shares of $5 par value common stock outstanding. It declared a 10% stock dividend on June 1 when the market price per share was $12. The shares were issued on June 30. Instructions: Prepare the necessary entries for the declaration and payment of the stock dividend.
rate of vat on gold purchase local & o.m.s. & rate of % in sale local & o.m.s.
Mention what is bank reconciliation?
what is balance sheet, capital budgeting, financial statements, current ratio, profit maximization?
Discuss the consistency concept in accounting
What are the important things to be remembered while preparing a bank reconciliation statement?
HI, i was given only 1st round and i made it through the first round, then was sent for the final HR round.In the HR round the HR manager dint ask me a single question of the related job,all he asked was as following:- i)what are your salary Expectations ii)are you ok to do night shifts.then he thanked me and said he will let me know by 2 days,when i asked him for any feedbacks and suggestions he said that he will let me know only after 2 days.SO please help me what shall i expect from this one of a kind interview. Many thanks in advance.
WHAT ARE THE LIMITATIONS FACING ACCOUNT CONCEPTS AND CONVENTIONS?
What is cost accountancy? What are the objects of cost accountancy?
SIR HOW MANY FORM USE FOR COMMERCIAL TAX & WHAT IS THEIR USES. PLEASE GIVE YOUR SUGGEST
What is an over accrual?
What is the provision? What is the entry for provision?
whats difference between manufacturing account & cost account