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Accounting Process

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 December 2010 Dear Sir/Madam

Goods sold to A Rs.40,000; Goods purchased from Rs.33,000. Transfer entry is required for-
(a) 7,000
(b) 40,000
(c) 33,000
(d) 73,000

Ans:(c) 33,000

Please tell how to calculate and how to post the entry?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
18 December 2010 query not clear, what tranfer entry required in this

Sales entry required Rs.40000
Purchase entry required Rs.33000
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