What will be the Journal Entry for this?
Purchases goods from vendor worth Rs.20000.VAT included 4%.
Answer Posted / manish goel
purhase A/C dr. 19200
Input vat 4% A/C dr. 800
To Vendor A/C 20000
| Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
What we have to post entry for payroll processing ? (Indian payroll)
What are mis reports?
What is an interlocking accounting system?
why only 6 months interest is charged on drawings
A COMPANY IS SERVICE PROVIDE TO B CO. 100,000 AND CHARGED STAX 10000 TOTAL BILL RAISED 110000 AND RECIEVED 30% FROM B IN DECEMBER AND 40% RECIEVED IN 10JAN2011, BALANCE 40% RECD IN 10 FEB2011 WHAT WILL BE GENERATED ACCORDING ACCOUNTING PRENCIPLE OF BOTH SIDE (MEAN A &B) WITH REVANUE& PROVISION PLEASE TELL ME
How to treat company managers personal expenses met by company if he is not taking salary from company and in future salary will be payable after deducting all personal expenses (salary amt will be decided only at paying year). pass journal entries
If a promoter has purchased an asset on behalf of the company before the incorporation of the same then what will be the accounting treatment to record the asset in the books of company
what is the entry for toll gate fee
journal entry for prepaid insurance and salary outstanding
your company by machinary for Rs 3000000/-, what will be the maximum term lean avaible form bank?
what is windows dressing final accounts?,sales a/c belongs to which a/c type?
what is valuation code and valuation modifier in sap fico
Explain what is liabilities and what all does include in current liabilities?
I renders interior Services, consider one project cost Rs.500000/- Scenario 1 - Material purchased on my Firm Name Material - 300000 -300000 On party behalf Labour - 200000 -150000 My expenses for Labour Contracts Profit - 50000 My Profit Scenario 2 - Material purchased by client Labour - 200000 -150000 My expenses for Labour Contracts Profit - 50000 My Profit In both Profit is same Rs. 50000/-. which is beneficial for me in terms of turnover or tax matters. and if I have to raise a bill to party as per both scenario, how it will affect bill and tax, where will I suffer loss?
How is scrap value calculated?