Acccounting Entry
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 September 2010
wat would be the accounting entry
when we are raising a sale invoice like below
total of bill Rs. 20000
Add: VAT@12.5% Rs. 2500
Total Rs. 22500
Add:Freight Rs. 1500
Total Rs. 24000
in this case vehicle is owned by the company
plz reply asap
when we are raising a sale invoice like below
total of bill Rs. 20000
Add: VAT@12.5% Rs. 2500
Total Rs. 22500
Add:Freight Rs. 1500
Total Rs. 24000
in this case vehicle is owned by the company
plz reply asap
16 September 2010
customer a/c dr.24000
sales a/c cr.20000
vat a/c cr.2500
transportation a/c cr.1500
sales a/c cr.20000
vat a/c cr.2500
transportation a/c cr.1500
16 September 2010
AGREED
CUSTOMER A/C DR . 24000
VAT PAYABLE CR 2500/-
SALES CR 20000/-
FREIGHT FORWARDING RECD CR 1500/-
THERE YOU HAVE CHOICE TO CREDIT FREIGHT RECD IN FREIGHT FORWARDING RECD A/C UNDER OTHER INCOME GROUP , OR CREDIT TO FREIGHT A/C IN WHICH YOU HAVE ENTERED FRIEGHT PAID ENTRY BY THIS IT WILL BE ADJUSTED WITH YOUR EXPENDITURE.
CUSTOMER A/C DR . 24000
VAT PAYABLE CR 2500/-
SALES CR 20000/-
FREIGHT FORWARDING RECD CR 1500/-
THERE YOU HAVE CHOICE TO CREDIT FREIGHT RECD IN FREIGHT FORWARDING RECD A/C UNDER OTHER INCOME GROUP , OR CREDIT TO FREIGHT A/C IN WHICH YOU HAVE ENTERED FRIEGHT PAID ENTRY BY THIS IT WILL BE ADJUSTED WITH YOUR EXPENDITURE.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- Long Term Service award taxability in hands of company
- Free lancer income
- Last year TDS Claim
- Specified Profession
- STCG FOR GOLD ETFs
- Soyabean hsn code and gst rate
- NON- SUBMISSION OF LLP FORM 3
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
