27- a)Goods sales expense record B)Goods sales record NS)Goods purchase record D)Return registration from goods purchase TO)Goods purchase discount posting creceivableDebt153 Commercial Goods Hs.23.000191 VAT Deductible4.14014.140153 Commercial Goods Hs.191 VAT Deductible13.000Which of the following transactions doesthe above journal item belong to?

Name: 27- a)Goods sales expense record B)Goods sales record NS)Goods purchas
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Description: 27- a)Goods sales expense record B)Goods sales record NS)Goods purchase record D)Return registration from goods purchase TO)Goods purchase discount posting creceivableDebt153 Commercial Goods Hs.23.000191 VAT Deductible4.14014.140153 Commercial Goods

Since we have booked a liability of VAT with adjustment to input tax as well hence it is a case of…

Answered: a) Goods sales expense record B)…

Business

Accounting

a) Goods sales expense record B) Goods sales record NS) Goods purchase record D) Return registrati

Accounting

27th Edition

ISBN:9781337272094

Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Chapter6: Accounting For Merchandising Businesses

Section: Chapter Questions

Problem 6.15EX: Purchase-related transactions Based on the data presented in Excrd.sc 6-14, journalize Ha I boa Co.s...

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31 - _____________________ / _____________________153 COMMERCIAL GOODS XX191 DEDUCTIBLE VAT XX320 SELLERS XX_____________________ / _____________________Which of the following belongs to the above journal entry?A) Returns B) Buy Discounts C) Purchase of Goods on Credit D) Sales Returns E) Sales of Goods on Credit
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Purchase-related transactions Based on the data presented in Excrd.sc 6-14, journalize Ha I boa Co.s entries for (a) the purchase, (b) the return of the merchandise for credit, and (c) the payment of the invoice.
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BeginningInventory Purchases Cost of GoodsAvailable for Sale EndingInventory Cost ofgoods sold $81,000 $111,000 $ (a) $ (b) $121,000 $50,000 $ (c) $115,000 $34,000 $ (d) $ (e) $101,000 $161,000
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