About treatment to goods bought by sub dealer
This query is : Resolved
02 October 2012
sir
suppose a client is sub dealer in auto industry he buys bikes from authorized dealer and sells on commission basis.
now facts are
1-Bill of purchase those bikes from company is in name of main dealer.
2-Sub dealer only receives commission for selling.
3-But while selling he has to also give sale bill to customer
4-so what will be correct accounting entries in relation to buy and sell of bikes in the
books of sub dealer
suppose a client is sub dealer in auto industry he buys bikes from authorized dealer and sells on commission basis.
now facts are
1-Bill of purchase those bikes from company is in name of main dealer.
2-Sub dealer only receives commission for selling.
3-But while selling he has to also give sale bill to customer
4-so what will be correct accounting entries in relation to buy and sell of bikes in the
books of sub dealer
02 October 2012
Authorised Dealer will issue the Bill on the name of subdealer & Subdealer will issue his Bill to the customer.So, subdealer will credit the Authorised dealer and will debit the customer.
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