Suppose we are a trading company providing devices and some times after sales service. when any defect came we just replace the hardware from another defective device and getting the payment from the customer. how can we account that? is there any tax implications for this?
Submitted by: AdministratorAt the time of sale
cash sales. Cash A/c-------Dr
to sales A/c
2. Credit sales
Customer Name A/c ----Dr
to sales A/c.
3. Sales retuns.
Sales return A/c----- Dr
to Customer A/c
4. resupply of goods
Samme Entry.
%. Sellenr return goods to its vendor.
Vendor name a/c ----- Dr
Purchase retuern A/c
Submitted by: Administrator
cash sales. Cash A/c-------Dr
to sales A/c
2. Credit sales
Customer Name A/c ----Dr
to sales A/c.
3. Sales retuns.
Sales return A/c----- Dr
to Customer A/c
4. resupply of goods
Samme Entry.
%. Sellenr return goods to its vendor.
Vendor name a/c ----- Dr
Purchase retuern A/c
Submitted by: Administrator
Read Online General Accounting Job Interview Questions And Answers
Top General Accounting Questions
| ☺ | What is the difference between journal voucher and contra? |
| ☺ | What is payroll? |
| ☺ | What is the difference of Fund Flow Statement and Cash Flow Statement? |
| ☺ | Suppose we given tour advance to party how to treat entry and which head have to given expenditure? |
| ☺ | If Sales is Rs 1000 (Inclusive of Vat), Vat Rate - 20%, What is Vat Payable? |
Top Business and Economics Categories
| ☺ | Taxation Interview Questions. |
| ☺ | Economics Interview Questions. |
| ☺ | Accounts Receivable (AR) Interview Questions. |
| ☺ | General Ledger Interview Questions. |
| ☺ | Fixed Assets Interview Questions. |
