Learner (Student) (409 Points)
27 December 2011'A' manufacture sold goods to 'B' First stage dealer as follows
Purchase 10000
Excise 500
Edu cess 10
S&H cess 5
Then 'B' First Stage dealer sold goods to 'C' a manufacturerfor Rs. 17000.
Can anyone please explain the journal entries to be passed in the books of C.
vishnu
(job)
(75 Points)
Replied 28 December 2011
Purnachandra
(Student)
(27 Points)
Replied 29 December 2011
| Originally posted by : Santhu | ||
 |
'A' manufacture sold goods to 'B' First stage dealer as follows Purchase 10000 Excise 500 Edu cess 10 S&H cess 5 Then 'B' First Stage dealer sold goods to 'C' a manufacturerfor17000. Can anyone please explain the journal entries to be passed in the books of C. |
 |
Goods ..a/c Dr
Exice Tax a/c Dr
Edu Tax dr
S& H Dr
To B'Dealer a/c
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(3293 Points)
Replied 31 December 2011
In my view the accounting entry will be:
Purchases a/c Dr
To B' Dealer A/c
(Being goods purchasesed as per invoice no....dt: Qty & rate to be mentioned)
nikhil shah
(shahbhai)
(63 Points)
Replied 02 January 2012
purchase a/c debit rs.16485/-
cenvat credit receivable A/c debit rs.500/-
edu cess receivable a/c debit rs.10
sh.edu cess receivable a/c debit rs.5/-
to party a/c ( ' B ' a/c ) credit rs. 17000/-
Jitesh Golani
(student)
(60 Points)
Replied 17 February 2012
VAT leviablilty in case of sale should also be considered....
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