Interested to Buy Any Domain ? << Click Here >> for more details...
if co. (proprietorship). purchase mobile phone for employees than mobile phones under off. equipment .we have rec. purchase bill gst applicable how shows entry
- 1 Answers
- 1583 Views
- I also Faced
- E-Mail Answers
Answer Posted / Deep Kamal Tiwari
When a proprietorship company purchases mobile phones for its employees, these phones would typically be recorded as office equipment in the accounting system. If the GST is applicable, it should be included in the purchase invoice. The GST-inclusive amount will be shown separately on the invoice and will be reflected in the corresponding journal entry under the Accounts Payable ledger. The entry will debit the Office Equipment account and credit the appropriate input tax account (e.g., GST Payable account).
| Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
Have you ever made mis reports and what are they?
what is your opinion regarding T.V shows on youth
please send me banking question on my email ID as I have been selected for state bank of india .my email ID is sawant.supriya51@gmail.com
rate of vat on gold purchase local & o.m.s. & rate of % in sale local & o.m.s.
VAT PER SURCHARG KAB SE KIS DATE SE LAG RAHA HAI
WHICH QUESTIONS ASKED IN EPFO IN 2009.
As you know account executives need to be talented salespeople. Do you have experience making sales?
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.
Alex’s Trial Balance at 31 December 2015 Dr (BWP) Cr (BWP) Capital 18 240 Bank overdraft 3 000 Fixtures and fittings 14 100 Provision for depreciation-fixtures and fittings 8 800 Inventory 14 200 Trade receivables 12 300 Trade payables 9 900 Revenue 110 000 Purchases 51 000 Discount received 1 800 Wages and salaries 26 000 Sundry expenses 34 000 Discount allowed 620 217 540 ======= 86 420 ======== Required: i Prepare the corrected trial balance at 31 December 2015. (7 marks) ii Show any difference you find as a balance on an appropriate account.
what are your current financial and accounting projects? What is your role?
Explain a time when you have not met your goal?
can any one send me tally professional version link
formula of reduction in tax credit of vat form 201(gujarat)
The following are the list of Balances of SUNSHINE Company as at 1.2.2012 RM Land and building 450,000. Furniture and Fittings 35,000. Office Equipment 25,000. Motor Vehicles 75,000. Inventory 5,000. Trade Receivables 12,000. Trade Payables 8,000. Bank Loan 200,000. Bank 13,000. Cash in Hand 1,000. Capital 408,000.
Please provide me the entire format of P.F. & ESI
