Interested to Buy Any Domain ? << Click Here >> for more details...
We purchase goods worth rs. 25000 from shyam co. in credit.
We paid him 20000 and rest we refuse to pay. What is the
journal entry for it. This is not discount received.
- 12 Answers
- 21877 Views
- I also Faced
- E-Mail Answers
Answer Posted / guest
Purchases A/c Dr. 25000
Shyam Co. A/c 25000
(being purchases made)
Shyam Co. A/c Dr. 20000
Bank A/c 20000
(being amount paid through cheque)
For the balance amount we raise a debit note to Shyam Co.
If we take the reason of refusing to pay as "difference in
Rate" the entry is as follows
Shyam Co. A/c Dr. 5000
Rate Difference A/c 5000
(being debit note issued for rate difference)
| Is This Answer Correct ? | 9 Yes | 1 No |
Post New Answer View All Answers
what is the limit of cash payment in a manufacturing firm and job work related work and how much we paid to the job worker cash payment in financial year Aslam
what is groups and and ledgers in tally can you give why we need to prepare them
IS METHODEX IS GOOD INSTITUTE FOR SAP FICO MODULE TRAINING. IS IT IN BANGALORE OY HYDERABAD.
what stock transfer applicable in sister concern unit.
Tell me what is the general classification of accounts that usually ledger account involve?
What can go wrong if you have a balance sheet with a lot of debt? What can go wrong if there is negative owner's equity? What does a good cash flow statement look like and why?
Please note that all the question related to VAT is belongs to pune, maharashtra. waiting for quality reply.
What is absorption costing with defination? and what is marginal costin with defination?
Which steps in Procurement to Pay process does FI documents get created.
What are the 4 principles of gaap?
Tell us did you use accounting applications at your previous companies or prefer working manually?
What is royalty reserve?
At the time of depreciation run we selected actual dep key is 5% but we taken 7% so the depreciation was posted wrongly how to rectify it?
Tell us what kind of work environment do you prefer?
What does the investment of personal assets by the owner will do?
