5 -Our company has purchased a land for 472.000 TL including 18% VAT. Which of the following accounts is correct to use in the relevant accounting record ? a)191 VAT Deductible 72.000 TL (Creditor) B)250 Land and Lands Hs. 400.000 TL (Creditor) NS)391 Calculated VAT Hs. 72.000 TL (Borrower) D)252 Buildings Hs. 72.000 TL (Borrower) TO)250 Land and Lands Hs. 400.000 TL (Borrower)

Journal entry It is important for the entity to record the journal entry in proper manner which…

Answered: Our company has purchased a land for…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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5 -

Our company has purchased a land for 472.000 TL including 18% VAT. Which of the following accounts is correct to use in the relevant accounting record ?

a)	191 VAT Deductible 72.000 TL (Creditor)

B)	250 Land and Lands Hs. 400.000 TL (Creditor)

NS)	391 Calculated VAT Hs. 72.000 TL (Borrower)

D)	252 Buildings Hs. 72.000 TL (Borrower)

TO)	250 Land and Lands Hs. 400.000 TL (Borrower)

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