Respected Sirs/Madam
In a Jewellery shop Gold Ornamets are exchanged against sale of new gold Ornaments for their customers. How to show the accounting entries, Please show with some examples.
Regards,
Aravindakumar
Menu
How to maintain purchase of gold from customers ?
Replies (1)
you can rec0rd them as purchases as any other purchases .
Exchange Goods record entry:
Purchases A/c 50
To X A.c 50
Sale Entry:
X A/c 100
To Sales A/c 100
Hence net cash wat ever recived is recorded in bank / cash.
Recent Topic
- ITR-2 : cash income that does not fall under any h
- Debit note issued to supplier
- Ca pratik takkar imp list
- TDS EXECESS AMOUNT ADJUSTMENT
- What's the ONE thing about GSTR-2B / IMS reconcili
- Is GST Registration Mandatory for Freelancers in I
- ITR TO FILE
- Shift of Place of Business from one state to anoth
- Form 10E u/s. 89(1). Need clarification because Ex
- Long Term Capital Loss - Tata Capital unlisted sha
Related Topics
CAclubindia
