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.
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