Question

shyam purchase goods worth ₹10000 for cash journal entry ​

Answer 1

Answer:

what is the full question!????

Answer 2

actually you have not asked a full question..but still I understood what your asking..check wether this is a ryt answer for your question...

the following entry passed assuming purchase of goods from Shyam on credit basis-

Purchase of Goods A/C - Dr

To Shyam A/C

(Being Goods purchased from Shyam of Rs…)

here purchase of goods A/c goes directly in Stat. of P/L as an expenditure and Shyam A/c in Balance Sheet under the head creditor.

If purchased on Cash basis then following entry will be passed

Purchase of Goods A/C - Dr

To Cash A/C

(Being Goods purchased in cash of Rs…)

here purchase of goods A/c goes directly in Stat. of P/L as an expenditure and Cash A/c reduced from Cash and bank balance head in Balance sheet .