give jornal entries
1. bricks worth 100000 purchased for the construction of building.
2. 1800 was stolen from the sfe vault of the firm.
3. paid cash to mrs. dewan on behalf of mr. dewan 1980.
4. purcased houses for cash 96500
Dear Student,
Good attempt Kriya. However, for the above question, entry 3 and 4 would be as follows:
* Since there are other entries related to construction and building, it is assumed that person is running business related to construction of buildings. So, purchse of houses would be regarded as a normal business expenditure. However, a note on the assumption is required to be given.
Also, we request you to post limited queries (only important once) during these peak days of examinations. There are lakhs of students like you who need our help. Your cooperation would be highly appreciated.
Good attempt Kriya. However, for the above question, entry 3 and 4 would be as follows:
(iii) | Mr. Dewan | Dr. | 1,980 | ||
To Cash A/c | 1,980 | ||||
(Amount paid to Mrs. Dewan on behalf of Mr. Dewan) | |||||
(iv) | Building A/c* | Dr. | 96,500 | ||
To Cash | 96,500 | ||||
(Houses purchased) |
* Since there are other entries related to construction and building, it is assumed that person is running business related to construction of buildings. So, purchse of houses would be regarded as a normal business expenditure. However, a note on the assumption is required to be given.
Also, we request you to post limited queries (only important once) during these peak days of examinations. There are lakhs of students like you who need our help. Your cooperation would be highly appreciated.