My question is- are tpt,freight & p & f charges part of
sales & purchase when it include in invoice. suppose if
goods value 20000 freight chrg 425.00 total sales will be
20425 or only 20000.00 how it will effect ?? pls clear
Answer Posted / dhara
hi,
The total sales will be of Rs. 20425
and the entry will be
Cash Dr. Rs. 20425
To Goods A/c Cr. Rs. 20000
To Freight A/c Cr. Rs. 425
| Is This Answer Correct ? | 10 Yes | 3 No |
Post New Answer View All Answers
Hai Experts can any one send me some finance interview questions ,my mail id is c.sujatha2008@gmail.com,please send quickly it's so need.
Explain what are the rules for debit and credit for different accounts to increase the amount in your business accounts?
In india i did MA BE.d but now i am applying for student visa in australia in masters of professional accounting will i face any problem in interview call that why u change ur course how i ill support my answer
What are the important things to be remembered while preparing a bank reconciliation statement?
TDS %AGE ON CALLIBRATION CHARGES BILL
what is capital reserve
How does accounting contribute to the community?
input vat, wht use in wct
what is balance sheet, capital budgeting, financial statements, current ratio, profit maximization?
What is service tax & excise?
Explain have you ever prepared mis reports and what are these?
The following transactions relating to ABC Ltd for the month of 20x1 a) Services performed in relation to income recieved in advance total $1500 b)Supplies expense includes $400 of supplies that are still on hand at 30 June c)Interest accrued on the bank loan is 750 d)At the end of june paid rent for 3 months (June, july Aug) $6000 e)Credit sales for the month of June 2009 amounted to $50000. Past expierence shows that around 1.5% of net credit sales are written off as bad debts. XYZ ltd, previously notified ABC ltd that they have gone bankrupt, will be able to pay $1000, which was recieved at the end of the month. The provision of doubtful debt has an opening balance of $800. f) The owners of ABC Ltd wish to revise the balance of the provision of doubtful debts account to $3500. g) Depreciation of one year on the delivary van is $1500. h) On 30 June 2009, ABC Ltd sold an item of equipment for $40000 cash. The cost of equipment was $50000 and had a accumulated depreciation balance of $2000 REQUIRED: Prepare the relevant adjusting journal entries for the month of June 20x2
Hi, Mobile manufacturing given a mobile phone as a gift to their employee. What journal entry we need to pass in company point of view.
Please explain the difference between provision and reserve?
Was there a time when you lost the chance to engage a prospect? What happened and what did you learn?