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Manubhai Shah
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A purchase return journal entry is made to record the return of goods purchased from a supplier.
Debit the accounts payable or trade payable account
Credit the inventory or stock account
Include any applicable taxes or discounts in the journal entry
Ensure the entry is properly documented with the date, description, and amount
Example: Debit Accounts Payable $1,000, Credit Inventory $1,000
I applied via Shine and was interviewed in Mar 2022. There was 1 interview round.
A journal entry of purchase records the acquisition of goods or services by a company.
Debit the asset account for the cost of the purchase
Credit the accounts payable account for the same amount
If the purchase was made with cash, credit the cash account instead of accounts payable
Include any applicable taxes or discounts in the journal entry
Example: Debit Inventory for $1,000, Credit Accounts Payable for $1,000
This is a journal entry for a purchase transaction where the GST is also included.
The purchase account is debited for the cost of the item purchased.
The GST account is also debited for the amount of GST paid.
The party name account is credited for the total amount paid.
For example, if the purchase cost is $100 and the GST rate is 10%, the journal entry would be: Purchase DR $100, GST DR $10, Party Name CR $110.
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posted on 27 Jun 2022
I applied via Recruitment Consulltant and was interviewed before Jun 2021. There were 2 interview rounds.
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Exacel test , reasoning test , accounting test
I applied via Walk-in and was interviewed in Oct 2024. There were 3 interview rounds.
Round 1 was a technical assignment which includes aptitude test, accounting test and excel test
Mutual funds are managed by professionals who invest pooled funds in a diversified portfolio of securities, while hedge funds are more actively managed and use a variety of strategies to achieve high returns.
Mutual funds are regulated by the SEC and have restrictions on trading practices, while hedge funds have more flexibility and are only available to accredited investors.
Mutual funds are typically more suitable for ...
Bonds and shares are types of securities issued by companies to raise capital. Corporate actions refer to events that impact shareholders.
Types of bonds include government bonds, corporate bonds, and municipal bonds.
Types of shares include common shares and preferred shares.
Corporate actions include dividends, stock splits, mergers, acquisitions, and rights issues.
General Mathematical And Logical Test
I applied via Indeed and was interviewed in Dec 2020. There were 4 interview rounds.
I applied via Walk-in and was interviewed in Jan 2024. There was 1 interview round.
I applied via Indeed and was interviewed in Apr 2023. There were 2 interview rounds.
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