ABC LTD PURCHASE GOODS FROM XYZ LTD OF Rs.400000/- BUT
DURING THE TRANSPORTATION ALL GOODS ARE DESTROYED.ACCORDING
TO AGREEMENT INSURENSE CO. PAID 75% OF DESTROYED GOODS TO
SELLER.
WHAT WILL BE JOURNAL IN BOTH PERSON ACCOUNT.
- 7 Answers
- 13387 Views
- I also Faced
- E-Mail Answers
Answer Posted / varun gupta
NO ENTRY IN ABC LTD BOOK
in XYZ LTD
1. BANK A/C DR 300000
ABNORMAL LOSS A/C DR 100000
TO PURCHASES(GOODS)A/C 400000
2. P/L A/C DR 100000
TO ABNORMAL LOSS A/C 100000
| Is This Answer Correct ? | 1 Yes | 2 No |
Post New Answer View All Answers
why i want to join Hawkins company
Tell us what kind of work environment do you prefer?
what accounts payable applications are your familiar with?
As you know account executives need to be talented salespeople. Do you have experience making sales?
what are your current financial and accounting projects? What is your role?
The following information is extracted from the audited books of accounts of a chain of food stores for the period ended 31st December 2015. Revenue Statement (Trading and Profit and Loss Account for the year ended 31st December 2015. BWP’000 BWP’000 Sales 460 Cost of good sold (220) Gross profit 240 Wages 50 Other expenses 30 (80) Net Profit 160 Note: The purchase figure included in the cost of goods sold of P255 000. Balance Sheet as at 31st December 2015 BWP’000 BWP’000 Fixed Assets 400 Current assets: Stock 80 Debtors (trade) 120 Bank 400 ----- [600] Current liabilities: Trade creditors 300 ------ [300] 300 Net Assets 700 ==== Financed by: Share capital 600 Revenue reserves 100 ------ 700 Shareholders Funds 700 ===== Required: (a) Calculate the following accounting ratios: (i) Current ratio (ii) Acid test ratio (iii) Stock turnover (in days) (iv) Debtors turnover (in days) (v) Creditors turnover (in days) (vi) Return on capital employed (ROCE) (vii) Gross profit percentage (viii) Net profit percentage (b). Give a brief comment on the performance of the company, based on the above ratios.
IS METHODEX IS GOOD INSTITUTE FOR SAP FICO MODULE TRAINING. IS IT IN BANGALORE OY HYDERABAD.
WHICH QUESTIONS ASKED IN EPFO IN 2009.
Tell me about a situation where you showed determination?
Tell me which accounting application you prefer most and why?
How many invoices on average do you handle on a weekly/monthly basis?
What is your greatest achievement and why?
Tell me an example of a tough decision that you had to make?
formula of reduction in tax credit of vat form 201(gujarat)
what is your opinion regarding T.V shows on youth
