how to record purchase in terms of Rs.
This query is : Resolved
15 July 2010
suppose some goods has been purchased from china 1000 psc of 10$,out of which 3$ is towards advance payment trfd from indian bank @47 &remaining 7$ @48 how would i record in terms of INR ?
15 July 2010
Purchases a/c ........dr (1000*10*47)
to Sundry creditors(1000*10*47)
Advance to creditors a/c....dr(1000*47*3)
to Bank
Sundry creditors a/c dr(1000*47*7)
Exchange loss on foreign curr a/c dr(1000*(48-47)*7)
to Bank (1000*7*48)
to Sundry creditors(1000*10*47)
Advance to creditors a/c....dr(1000*47*3)
to Bank
Sundry creditors a/c dr(1000*47*7)
Exchange loss on foreign curr a/c dr(1000*(48-47)*7)
to Bank (1000*7*48)
19 July 2010
thanx ms.mini.
that means as soon as we gave advance, at that time we will book the total purchase at rate prevailing on the day we gave advance...
and further fluctuation will effect s.crs a/c only.
that means as soon as we gave advance, at that time we will book the total purchase at rate prevailing on the day we gave advance...
and further fluctuation will effect s.crs a/c only.
19 May 2011
alternate
Advance
Party a/c dr 3*47*1000
bank charges dr
to bank a/c
Realization of bill
on the date of payment
Party a/c dr ........ 7*48*1000
bank charges .. dr
To Bank a/c
on realization of import from customs
Purchase a/c dr
to party a/c
to customs
to C&F charges
to Freight
Advance
Party a/c dr 3*47*1000
bank charges dr
to bank a/c
Realization of bill
on the date of payment
Party a/c dr ........ 7*48*1000
bank charges .. dr
To Bank a/c
on realization of import from customs
Purchase a/c dr
to party a/c
to customs
to C&F charges
to Freight
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- Stamp Paper for partnership firm change new income tax 2025
- Capital gain from sale of house property
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Value of property in capital gain
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
