G.S. Arora (no) (98 Points)
24 April 20131) 10000 spent on construction of building (building a/c to cash a/c is wrong entry)
2) goods purchased 50000 (including vat 500). vat is applicable on dealer.
3) 149 acre land received free of cost from central govt. rs. 100 crores
Ashok Katgi
( CA-Final)
(62 Points)
Replied 24 April 2013
Rajwant Kaur
(B.com, CA Final )
(337 Points)
Replied 24 April 2013
1. Construction WIP a/c Dr. 10,000
To Cash a/c 10,000
2. Goods Purchases a/c Dr. 49500
Input Vat a/c Dr. 500
To S. Creditors/ Cash/ Bank/ B/R a/c 50.000
3. Land a/c Dr. 100
To P & L A/c 100
.
Vishal P. Deshmukh
(Officer Accounts & Finance)
(53 Points)
Replied 26 April 2013
| Dr | Cr | |
| WIP Buildings A/C Dr | 10000 | |
| To Cash a/c | 10000 | |
| Purchase A/C Dr | 49500 | |
| Input Vat A/C Dr | 500 | |
| To Creditor/Vendor/cash/bank | 50000 | |
| Assets/land A/C | 500 | |
| To P&L A/C | 500 | |
Ajay Chahal
(ca final)
(42 Points)
Replied 26 April 2013
CAclubindia
