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i have purchase goods for Rs.100 and company say you sell
this goods for Rs. 80 and raised a debit note for diffrence
amount and he fix 5 % commision on sales value what is
journal entry passed in tell with narration?
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Answer Posted / mou jana
Purchase a/c......Dr....100
To Creditor a/c.................100
Debtor a/c.....Dr.......80
Comm a/c.......Dr.......04
P&L a/c........Dr.......16
To Sales a/c....................100
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I TRANSFERRED A STOCK OF RS. 100.00 FROM HEAD OFFICE DELHI TO MFG. UNIT OFFICE AT HARYANA AGST FORM F.AT BRANCH GOODS ARE PROCESSED AND ADDED VALUE OF RS. 80.00 AND TRNF BACK TO DELHI HEAD OFFICE FOR RS. 180.00 AGST FORM F FROM HARYANA . AND HEAD OFFICE SOLD THIS TO PARTY AT RS. 200.00 . I WANT TO KNOW HOW TO MAKE ACCOUNTING ENTRIES IN BOTH BOOKS HEAD OFFICE AND BRANCH OFFICE. TO SETTEL ACCOUNT AND TO CONSOLIDATE THE BOOKS AT THE END OF YEAR.
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