Oracle Apps Financial Question: Download Questions PDF
What is the Entry in Oracle Apps AP,AR,GL for following Transations
1.One Pipe purchase at Rs.100
2.One Pipe Sales At Rs.150
Answer:
1)Whenever we buy item there is no journal Entry.
2)When we Receive Material into inventory Org
Material Value A/C ---- Dr
Inventory AP Accrual A/C --- Cr
3)When we are going for payment
Charge A/c --- Dr
Liability A/c --- Cr
Liability A/c --- Dr
Cash Clearing A/c --- Cr
4)In Cash Management
Cash Clearing A/c --- Dr
Cash A/c --- Cr
5)When we Making Sale
Cost of Goods A/c --- Dr
Material A/c --- Cr
2)When we Receive Material into inventory Org
Material Value A/C ---- Dr
Inventory AP Accrual A/C --- Cr
3)When we are going for payment
Charge A/c --- Dr
Liability A/c --- Cr
Liability A/c --- Dr
Cash Clearing A/c --- Cr
4)In Cash Management
Cash Clearing A/c --- Dr
Cash A/c --- Cr
5)When we Making Sale
Cost of Goods A/c --- Dr
Material A/c --- Cr
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