goods purchases of Rs.1200 was recorded in the sales book
and the Vendor's account was credited by Rs. 1200

Answer Posted / deepak singh

purchase a/c 1200
vender a/c cr. 1200 (it wrong do entry)
.......................................
now right is

vender a/c dr. 2400
to purchase a/c cr. 2400
(if entry was wrong then doing write entry (1200+1200)
.........
thanks..

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 absorption costing with defination? and what is marginal costin with defination?

2522


what is the difference b/w carpet area,covered area and build- up area and how it is calculated.......

1700


Explain what does financial statement of the company includes?

596


How time sheets are maintained?

616


What is Capital Commitments means?

1803






You are using the accounts approach to parallel valuation and classic assets accounting. You need to create a new financial statement version to valuation based of IFRS principles. In asset accounting, what posting options can you choose for the new depreciation area? (any 2 answer) Area post in real time Area posts APC directly and depreciation periodically Area posts APC only directly Area posts APC and depreciation periodically

983


purchase return liability or asset?should it be included in the balanced sheet?

1053


what are the main important accounting entries for AP and AR ...

984


service tax calculated on agreement value or market value whichver is higher for builders?

1893


What is the provision?

636


Company XYZ split 5:1 on June 30, 2008. Date Close Price # of Shares Revised Closed Price Revised # of Shares June 15, 2009 $75.00 5,000 $75.00 5000 April 23, 2009 $72.00 7,500 $72.00 7500 March 31, 2009 $67.00 135 $67.00 135 March 31, 2008 $275.00 531 $55 2755 November 30, 2007 $233.00 266 $46.6 1330 October 6, 2006 $1,333.00 10 $266 50

1658


we had company we provide work others they deducted tds how to pass entries in my company please tell me

2764


How can you do credit control?

677


Is transfer Profit / loss account to capital account important in Tally ERP 9 at the end of the financial year? And what is the benefit of transferring P/L account to Capital account ? Please I want someone to answer my question, this is my second question I posted one question 2 days ago also nobody reply to that question. Thank you.

1741


Pls tell me the basic rules of accounts for interview in finanace or accounts section

1753