Interested to Buy Any Domain ? << Click Here >> for more details...
purchase rice 2 bags rs.7500 and vat charges @5%
what is the answer...
- 8 Answers
- 12172 Views
- Accenture, I also Faced
- E-Mail Answers
Answer Posted / neelaiahgari manjunath
Dear friends
Vat is add to original cost to the good or item
2 bags rice purchase 15000/- each bag buying 7500 vat@5%,
15000*2/100=750
ledger entry
purchase a/c dr 15000/-
vat taxa/c dr 750
to, cash a/c 15750/-
(being rice bags purchase towards tax )
| Is This Answer Correct ? | 5 Yes | 2 No |
Post New Answer View All Answers
I have deducted Notice pay Rs. 5000/- in which account to be booked the same enty, what is the head for notice pay in profit and loss a/c.
what are the direct expense of loan department in banks.
Can it be possible to transfer FCRA funds to an ngo who don't have FCRA registration no.
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.
How can I put Bank Guarantee Receipt entry in Tally ERP9?
record the following transaction in the various books of accounts F Black loan us $5000 paid by cheque.
Can you help me to pass the journal entry for work in progress for a construction company? I would like to know the debit and credit for W.I.P will be under in which accounts head. Eg: debit will be in current asset a/c head, and credit will be under in which a/c in P&L? whether under purchase a/c head, or under direct income a/c head? please give me the details. Thanks for your previous answer?
How use Budget in SAP, i want to see the report of variant between budget and actuals.
what is the right process for input credit of Service tax. and on which service i can take credit.
What is an operative accounts?
I got a transaction of Online Recruitment Charges, So What is the Ledger to Create?
Tell me what is the master account?
What are control ledgers?
under which ledger should i make opening work in progess and closing work in progress
IN VAT INVOICES DISCOUNT ALLOWED OR NOT
