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Purchase A/c will have- (a) No balance at all (b) Debit balance (c) Credit balance (d) Debit or Credit

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تم إضافة السؤال من قبل Almutaz Bakry Sidahmed , Internal Audit Manager , Banan real estate
تاريخ النشر: 2015/03/10
ROSNA PALERI
من قبل ROSNA PALERI , FINANCE ASSISTANT , ULCCS

Debit balance.............

Ahmed kandil
من قبل Ahmed kandil , Cost Controller , Battour Holding Cpompany

Answer B is the correct answer

Ahmed Ali Khan Patan
من قبل Ahmed Ali Khan Patan , Chief Accountant , Ducting & Servicing Co. Dasco

Purchases A/c will be always Debit Balance. In case of we retuned some purchase then it will be credit or we create another account called purchase returns which will be Credit balance.

 

 

Mohammad Abu Al Kashem Mohammad
من قبل Mohammad Abu Al Kashem Mohammad , Junior Officer , Eastern Banking Corporation

To debit purchase account is very old fashion,the modern approach is to charge Inventory control with contra to payable Control.

MUHAMMED RESHEED
من قبل MUHAMMED RESHEED , Finance Manager , Zad Holding Companies

Debit Balance in Trial Balance since Purchase account is a Nominal Account..

Tariq Aijaz
من قبل Tariq Aijaz , Manager Accounts & Taxation , Golden Textile Mills Ltd

Purchase A/c. will have Debit Balance.

In other case If there is no purchases than it will have no balance at all.

Senthil Velu Sivanandam
من قبل Senthil Velu Sivanandam , Accounting Manager , Volume Cocomo

No balance while closing books of accounts

مستخدم محذوف‎
من قبل مستخدم محذوف‎

Answer is .

>>B)Debit balance

Purchase Journal entry eg: Purchase a/c dr

                                                         To sundry creditor

 

rohit mehra
من قبل rohit mehra , Group GM - Finance and accounts , Sun and Sand Group

Debit Balance - purchase is nominal account so rule of nominal account " debit all losses and expenses and credit all profit and gains" will apply

 

sometimes people treat purchase as real account because of goods involved then also rule of real account " debit what comes in and credit what goes out" will apply, again it will result in debit balance 

Samsheer ck samsheer
من قبل Samsheer ck samsheer , Accounts Manager , Al madina group

purchase a/c normal Debit balance

sajid kolloran
من قبل sajid kolloran , Accountant , firq mountains trade

Always debit balance

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