If material worth ₹500 is purchased for special job and directly received for job from the supplier, then which of the following entry will be passed if accounts are maintained under Non-integrated system ?

CS Executive · Cost and Management Accounting · PYQS · June 2018
If material worth ₹500 is purchased for special job and directly received for job from the supplier, then which of the following entry will be passed if accounts are maintained under Non-integrated system ?
(A) Work in Progress Control A/c Dr. 500 To General Ledger Control A/c 500
(B) Store Ledger Control A/c Dr. 500 To General Ledger Control A/c 500
(C) General Ledger Control A/c Dr. 500 To Store Ledger Control A/c 500
(D) Store Ledger Control A/c Dr. 500 To Work in Progress Control A/c 500

Answer & Explanation:

Correct Answer: Option (A)

Official answer key: (A).

Topics: Cost and Management Accounting

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