Accounting treatment of sample export sale.
This query is : Resolved
27 February 2009
Q.- what is the Accounting treatment of export sample sale.
Suppose- A new stashbished co & able to take the credit when it's commercial production will start is making export of Rs. 10,000 as free export sample & paying Excise duty is 10% and cess is @ 2% & 1% respectivily.
pls. advice the accounting entries to be passed.
Suppose- A new stashbished co & able to take the credit when it's commercial production will start is making export of Rs. 10,000 as free export sample & paying Excise duty is 10% and cess is @ 2% & 1% respectivily.
pls. advice the accounting entries to be passed.
04 June 2009
1- Party a/c dr
Sale Sample a/c cr
Excise duty payable cr
2- Export sample (Exp)Dr
Party a/c Cr
Sale Sample a/c cr
Excise duty payable cr
2- Export sample (Exp)Dr
Party a/c Cr
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