Credit purchase entry

Answer Posted / s4sridhar@gmail.com

Raw Material A/c. Dr. XXX

To Sundry Creditors A/c. Cr. XXX

Note to all: Since we are receiving (any) material so it
should be debit instead of debiting Purchases .

Is This Answer Correct ?    1 Yes 10 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

What is the Corporate Tax, Minimum Alternate Tax, Professional Tax, Business Tax Describe Me

1828


What steps would you take before approving an invoice for payment?

623


What is the definition(meaning) for the Final accounts adjustment 'Uninsured goods lost fire'?

1181


Hello friends, I want to sk that Is computer proficiency certificate necessary at the time of SBI clerk Interview?and all other guys who have cleared the nov 2009 exam and have got the bio data form please give replies,,, waiting for replies ,thank you.

1707


What are the functions of manger -accounts and manager-finance? Explain in detail

588






In the case of stock transfer from one branch to another branch any reverse credit is applicable.

1572


all GL Related Interview questions with answear

2365


how to reduce the interesting giving to debts ?

1668


Fundamental accounting assumptions are (a) Materiality. (b) Business entity. (c) Going concern. (d) Dual aspect

1434


how to account branches in tally

1844


Into which account do we close the revaluation account balance during the winding up of a company?

1493


paid vendor to RS 15000 and incentives of RS.5000 and deducted Rs.3000 as penalty so finally paid to vendor is Rs.17000. please let me know the journal entry for this.

1224


what are the charecteristics of cost accounting financial accounting managment accounting payroll accounting environmental accounting h r accounting forensic accounting inflation accounting?

1449


What are control ledgers?

678


What is definition of a cash float in accounting?

681