Select Board & Class
List out all the personal , real and nominal accounts
what is the journal entry for dicount recieved and discount allowed??please explain...thanks....
When a cheque is received from someone, which a/c will be debited (cash or bank)?
My friend mentioned that 'If a cheque is received and is not deposited in the bank on the same day, it is debited to cash a/c taking it to be cash'.
But in some of the transaction it is Bank a/c Dr To someone's a/c and in some it is Cash a/c Dr To someone's a/c.
What is the correct journal entry for cheque received?
Please explain with examples.
what are the golden rules of accountancy about debit and credit ??what r the rules of recognition of nature of any account type so as to solve questions related to journal entry???pls help guys!!!
what is the journal entry for:
1)withdrew cash for office use
2)withdrew cash for personal use
3)withdreww good for personal use
1)Rs. 500 paid for the repairing of machinery. Then in this case what will be the journal entry, will it increase the value of the assets or we have to open repairs a/c in journal and debit it?
How will I journalise the following entry:-
Drew Cash from bank for office...Rs. 1,000.
why won't we debit drawings account but rather debit cash account?
Can you Please show the Journal Entry of the following Transactions along with the final accounts of the same
2010
Jan1: Commenced business with cash 1,00,000
Jan2: Opened a bank account by depositing 50,0000
Jan 3: Bought goods for cash 15,000
Jan 5: Bought furniture for cash 10,000
Jan 6: Sold goods for cash 5,000
Jan 9: Bought goods from Ram of list price 10,000 less 10% trade discount.
Jan 11: Goods returned to ram of list price 1,500
Jan13: Sold goods to sohan for 12,000 less 10% trade discount
Jan15: Sohan returned goods of 1,000
Jan 16: Received a cheque from sohan for 6,000 which was endorsed to ram
Jan 17: Paid cash 1,500 to ram in full settlement of his account
Jan 18: Received cheque from sohan for 3,800 in full settlement of his account
Jan 19: Cheque of sohan lodged in bank
Jan 22: Paid salary 3,000 and rent 2,000 by cheques.
Jan 24: Bought goods from amar for 14,000 less 10% trade discount and 2% cash discount. Amar agreed to pay 50% price on the spot.
Jan 24: Sold goods to karan 6,000
Jan 25: Bank is advised to issue draft to amar for 4,500. Bank charged 50 for it.
Jan 27: Received cash from karan 2,000 and cheques 3,000 banked same day.
Jan 30: Bought furniture from gopi 4,000
plz give me the journal entry for :
1.commission recieved.............5000
2.deposited cash into bank..........10000 & plz explain.
what does "interest due but not paid" have effect on the accounting equation?
what is a debit note and credit note?
How to write the following in double column cash book :-
Honoured our own acceptance by cheque.
What will be the journal entry of paid Life insurance premium Rs 5000
What type of accounts are purchase and sales account ? Real or nominal ?
journalise the following transaction:
Received commission Rs.5000 half of which is in advance.
what is entry of .paid into bank
Receive cheque from suman 19500
Discount allowed 500
Is 19500 the amount after deduction or Rs. 500 should be deteced from 19500 ??? Pls help Monday tesst....
pls tell me the journal entries for following;
1. paid to mohan on account.
2. drew cash from bank for office use.
3.goods(costing rs.200, selling price r. 250) taken away by proprietor for personal use.
4.rent is due to s.sharma but not yet paid.
5.rent paid in january for 3 months upto march(transaction date in january)
6. paid rent of building by cheque haif of building was used by proprietor for personal use.
Journalise the following transactions:
(a) Mohan started business with cash Rs. 80,000, Machine Rs. 40,000 and Furniture Rs. 20,000.
(b) Rent paid Rs. 12,000 of which Rs. 5,000 relates to next year.
(c) Salary for the month Rs. 20,000 of which only Rs. 14,000 paid.
(d) Bought goods of list price Rs. 40,000 from Mahesh at a trade discount of 10% and cash discount 2%.
(e) Sold goods of list price Rs. 60,000 to Ajay less 10% trade discount and 2% cash discount.
(f) Bought goods of list price Rs. 40,000 from Lakshay at a trade discount of 10% and cash discount 2%.But paid only 40% in cash.
(g) Sold goods of list price Rs. 60,000 to Amar less 10% trade discount and 2% cash discount. Amar paid 60% by cheque.
(h) Sold Goods costing Rs. 36,000 to Akshay invoiced at 25% above cost ,less 10% trade discount and 2 % cash discount. Akshay paid the entire amount in cash.
(i) Bought goods of list price Rs. 20,000 from Vidhi less 10% trade discount and 2% cash discount. Paid the entire amount to Vidhi in cash.
(j) Commission due but not received Rs. 2,000.
(k) Allow interest on capital @ 6% p.a for 6 months (capital amounts to Rs. 1,40,000 )
(l) Paid life insurance premium Rs. 5,000.
(m) Purchased a machine for Rs. 45,000 , paid freight Rs. 2,000 and wages Rs. 3,000 for its installation.
(n) On 1/1/12 Goods costing Rs. 8,000 lost by fire ,the goods were insured and on 5/1/12 insurance company admit a claim of Rs. 6,500 this claim is received on 15/1/12 by cheque.
(o) Paid Income tax Rs. 1,500
(p) Machine of book value Rs. 45,000 exchanged for a new machine of Rs. 80,000, for this purpose old machine was valued at Rs. 28,000 and the balance paid by cheque.
(q) Closing stock i.e. stock at the end of year valued at Rs. 5,000.
(r) Goods costing Rs.4,000 having sales price of Rs. 5,000 distributed as free samples.
(s) Rajesh who owed us Rs. 6,000 declared insolvent and paid only Rs. 3,500.
(t) Received Rs. 2,500 from Rajesh which were written off as bad.
(u) Interest on drawing to be charged Rs. 1,000
Pass the necessary journal entry . A horse bought on April 20 died on April 30. It's carcase was sold for 5000 rupees.
Give journal entries of M/s. Mohit traders; post them to the Ledger from the following transactions:
August, 2005
Rs
1
Commenced business with cash
1,10,000
2
Opened bank account with H.D.F.C.
50,000
3
Purchased furniture
20,000
7
Bought goods for cash from M/s. Rupa Traders
30,000
8
Purchased good from M/s. Hema Traders
42,000
10
Sold goods for cash
14
Sold goods on credit to M/s. Gupta Traders
12,000
16
Rent paid
4,000
18
Paid trade expenses
1,000
20
Received cash from Gupta Traders
22
Goods return to Hema Traders
2,000
23
Cash paid to Hema Traders
40,000
25
Bought postage stamps
100
30
Paid salary to Rishabh
Journal entries for the following :-
What is the difference between LF and JF?
Journalise the following transaction in the books of Sanjana and post them into the ledger:
January, 2006
Cash in hand
6,000
Cash at bank
55,000
Stock of goods
Due to Rohan
Due from Tarun
10,000
Sold goods to Karuna
15,000
4
Cash sales
6
Goods sold to Heena
5,000
Purchased goods from Rupali
Goods returned from Karuna
Cash received from Karuna
13,000
15
Cheque given to Rohan
Cash received from Heena
3,000
Cheque received from Tarun
Cheque received from to Heena
Cash given to Rupali
18,000
26
Paid cartage
27
Paid salary
8,000
28
Cash sale
7,000
29
Cheque given to Rupali
Sanjana took goods for Personal use
31
Paid General expense
500
show an accounting equation :-
sunil started business with cash 1500000
he paid cartage 500
received rent from tenants 1000
received security deposite from tenants 1500
purches statinory in cash 100
invested in shares (personal) 50000
introduced fresh capital 25000
goods destroyed by 500
plz give me the solution of it . . . . its urgent really need a solution. . .
discounted a bill of RS 1000 at 1% throgh bank
what will be the journal entry for this question?
Received an order from Shyam for supply of goods of the list price of rs. 1,00,000 with an advance advance of 10% of list price. pass the journal entry
how is salary outstanding and rent in advance treated in accounting equation.??
Prepare accounting equation from the foolowing:-
1. Sandeep started business with cash Rs. 1,00,000
2.purcshased furniture for cash Rs. 5,000
3. purchased good for Rs. 20,000
4. purchased good on credit Rs. 36,000
5. paid for rent Rs. 700
6. goods costing s. 40,000 sold at a profit of 20% for cash
in which A/c can we classify bank overdraft A/c ?
personal A/c , real A/c, nominal A/c ....
what is the journal entry for cash embezzled by an employee?
please explain the conservatism principle.
What is the journal entry for "goods use or household"???
life insurance premium of the proprietor will be considered as drawings or an expense..??
Show the accounting equation on the basis of the following transaction:
(a)
Udit started business with:
(i)
Cash
5,00,000
(ii)
Goods
1,00,000
(b)
Purchased building for cash
2,00,000
(c)
Purchased goods from Himani
(d)
Sold goods to Ashu (Cost Rs 25,000)
36,000
(e)
Paid insurance premium
(f)
Rent outstanding
(g)
Depreciation on building
(h)
Cash withdrawn for personal use
Rent received in advance
(j)
Cash paid to Himani on account
(k)
Cash received from Ashu
how to do this equation (fresh capital invested) RS.50,000????????? plzz answer it fast..........
Mohit has the following transactions, prepare accounting equation:
Business started with cash
1,75,000
Purchased goods from Rohit
Sales goods on credit to Manish (Costing Rs 17,500)
Purchased furniture for office use
Cash paid to Rohit in full settlement
48,500
Cash received from Manish
Cash withdrew for personal use
Plz explain me the following :
Rahul become insolvent, who owed is Rs 2,000 a final dividend of 60 paise in a rupee is received from his estate.
give the journal entry of timber costing 5000rs was used for furnishing the office.
i want to make accounts project choosing any sole proprietor business and preparing atleast 30 transactions...plsss help me in choosing a business and tell me transactions also...
Issued a cheque in facour of M/s .Paramatma Singh& sons on account of purchase of goods worth $7500
What is the meaning of ' Honoured our own acceptance' ?
Charge depreciation @ 10% p.a for two month on machine costing Rs 30,000.
How do you journalise this and why does the amount become 500?
difference between outstanding income and accrued income?
Journalise the following transaction in the Books of the M/s. Bhanu Traders and Post them into the Ledger.
December, 2005
Started business with cash
92,000
Deposited into bank
60,000
Bought goods on credit from Himani
Purchased goods from cash
Returned goods to Himani
Cheque given to Himani
17
Goods sold to M/s. Goyal TradeRs
3,50,000
19
Drew cash from bank for personal use
21
Goyal traders returned goods
3,500
Cash deposited into bank
Cheque received from Goyal Traders
31,500
Goods given as charity
Salary paid
Office machine purchased for cash
what is the journal entry for cash embezzled by an employee Rs. 2000?
Use accounting equation to show the effect of the following transactions of M/s Royal Traders:
1,20,000
Purchased goods for cash
Rent received
Salary outstanding
Prepaid Insurance
Received interest
700
Sold goods for cash (costing Rs 5,000)
Goods destroyed by fire
Journalise the following transactions, post to the ledger:
2005
Nov. 01
Business started with
(i) Cash
1,50,000
(ii) Goods
Nov. 03
Purchased goods from Harish
Nov. 05
Nov. 08
Purchase furniture for cash
Nov. 10
Cash paid to Harish on account
Nov. 13
Paid sundry expenses
200
Nov. 15
Nov. 18
Nov. 20
Drew cash for personal use
Nov. 22
Cash paid to Harish in full settlement of account
14,700
Nov. 25
Good sold to Nitesh
Nov. 26
Cartage paid
Nov. 27
1,500
Nov. 29
Received cash from Nitesh
6,800
Discount allowed
Nov. 30
Salary paid 3,000
Pss Journal entries and prepare ledger accounts:
Mar. 1 . csh in hand-5500,bank-4500,machinery rs.15000, debtors-Ram-150 Sonu-2000, bank loan-10000, creditors-Sudha-2300.
Mar. 5.purchased goods from Sudha for rs. 1500.
Mar. 10 received cash from Sonu on account.
Mar. 15 cash deposits in bank rs. 2300.
Mar 31 paid to Sudha on account rs. 3500 by cheque.
Mar. 31 depriciation charged on machinery rs.1000. Paid bank loan instalment rs 1000.
what will be the journal entry of " GOODS LOST IN FIRE 2000 " ?????
Prepare accounting equation on the basis of the following:
(a) Harsha started business with cash Rs 2,00,000
(b) Purchased goods from Naman for cash Rs 40,000
(c) Sold goods to Bhanu costing Rs 10,000/- Rs 12,000
(d) Bought furniture on credit Rs 7,000
1)Paid salary Rs.450 and salary outstanding being Rs.100
2)Goods destroyed by fire Rs.500
I NEED THE ACCOUNTING EQUATION OF THIS, AS SOON AS POSSIBLE
purchase furniture for6000 for the proprietor and paid the amount by cheque
E.g: 9876543210, 01112345678
We will give you a call shortly, Thank You
Office hours: 9:00 am to 9:00 pm IST (7 days a week)
Syllabus
List out all the personal , real and nominal accounts
Journalise the above entry.
what is the journal entry for dicount recieved and discount allowed??please explain...thanks....
When a cheque is received from someone, which a/c will be debited (cash or bank)?
My friend mentioned that 'If a cheque is received and is not deposited in the bank on the same day, it is debited to cash a/c taking it to be cash'.
But in some of the transaction it is Bank a/c Dr To someone's a/c and in some it is Cash a/c Dr To someone's a/c.
What is the correct journal entry for cheque received?
Please explain with examples.
what are the golden rules of accountancy about debit and credit ??what r the rules of recognition of nature of any account type so as to solve questions related to journal entry???pls help guys!!!
Regards!
Chawla.
Q.5 Panwar commenced business on 1st April, 2013, with a capital of Rs. 10,000, which he paid into bank account opened for that purpose. On the same date he bought stock valued at 6,500 and furniture which cost Rs. 2,000. He kept his books on single entry basis. On 31st March, 2014 stock was valued at Rs. 8,300. There were book debts amounting to Rs. 3,400 of which Rs.200 represented debts which were irrecoverable. Creditors amounted to Rs. 3,600 and the cash book showed a balance of Rs. 1.650 but according to pass book, the balance at Panwar's credit was only Rs.1,450, he having giving his son Rs.200 and then omitted to enter in the cash book, Panwar withdrew Rs.1,800 form the business for his private expenses, and in addition, he used Rs.500 worth of goods from his shop. He took Rs. 1,000 as loan from his wife during the year.
You are required to prepare a Statement showing Profit or Loss in the business for the year ending 31st March, 2014.
1. Raghu started business with cash Rs. 1, 50, 000
2. Bought goods for cash Rs. 80, 000 and on credit for Rs. 40, 000.
3. Goods costing Rs. 75, 000 sold at a profit of 100/3%. Half the payment received in cash.
4. Goods costing Rs. 10, 000 sold for Rs. 12, 000 on credit.
5. Paid for Rent Rs. 2, 000 and for salaries Rs. 4, 000
6. Goods costing Rs. 20, 000 sold for Rs 18, 500 for Cash.
what is the journal entry for:
1)withdrew cash for office use
2)withdrew cash for personal use
3)withdreww good for personal use
1)Rs. 500 paid for the repairing of machinery. Then in this case what will be the journal entry, will it increase the value of the assets or we have to open repairs a/c in journal and debit it?
2) Goods of Rs.900 destroyed in fire and it was uninsured. So what will be the jouranl entry? Is it Loss by firea/c debited to purchases account. Or will it be debited to purchases account??3) Brought a fan for Rs.1000. What will be the journal entry?4) Give all esxamples of sundry expenses.5) What are adjusted sales and what is its effect in journal entry?How will I journalise the following entry:-
Drew Cash from bank for office...Rs. 1,000.
why won't we debit drawings account but rather debit cash account?
CGST and SGST 6% charged intra state sale and purchase...
Can you Please show the Journal Entry of the following Transactions along with the final accounts of the same
2010
Jan1: Commenced business with cash 1,00,000
Jan2: Opened a bank account by depositing 50,0000
Jan 3: Bought goods for cash 15,000
Jan 5: Bought furniture for cash 10,000
Jan 6: Sold goods for cash 5,000
Jan 9: Bought goods from Ram of list price 10,000 less 10% trade discount.
Jan 11: Goods returned to ram of list price 1,500
Jan13: Sold goods to sohan for 12,000 less 10% trade discount
Jan15: Sohan returned goods of 1,000
Jan 16: Received a cheque from sohan for 6,000 which was endorsed to ram
Jan 17: Paid cash 1,500 to ram in full settlement of his account
Jan 18: Received cheque from sohan for 3,800 in full settlement of his account
Jan 19: Cheque of sohan lodged in bank
Jan 22: Paid salary 3,000 and rent 2,000 by cheques.
Jan 24: Bought goods from amar for 14,000 less 10% trade discount and 2% cash discount. Amar agreed to pay 50% price on the spot.
Jan 24: Sold goods to karan 6,000
Jan 25: Bank is advised to issue draft to amar for 4,500. Bank charged 50 for it.
Jan 27: Received cash from karan 2,000 and cheques 3,000 banked same day.
Jan 30: Bought furniture from gopi 4,000
What is its journal entry and and enrty in Cash book???
plz give me the journal entry for :
1.commission recieved.............5000
2.deposited cash into bank..........10000 & plz explain.
what does "interest due but not paid" have effect on the accounting equation?
what is a debit note and credit note?
(a) Mr. Ajay started business with cash 80,000, Inventory 50,000 and Machinery 5,000.
(b) Purchased furniture for cash 4,000 and purchased goods from Naveed store of 5,000
(c) Sold goods to Rashid on credit basis for 8,000, costing 6,500.
(d) Sold goods for cash 15,000, which is 20% above cost.
What will be the accounting equation for part (d)??
How to write the following in double column cash book :-
Honoured our own acceptance by cheque.
What will be the journal entry of paid Life insurance premium Rs 5000
What type of accounts are purchase and sales account ? Real or nominal ?
journalise the following transaction:
Received commission Rs.5000 half of which is in advance.
what is entry of .paid into bank
Receive cheque from suman 19500
Discount allowed 500
Is 19500 the amount after deduction or Rs. 500 should be deteced from 19500 ??? Pls help Monday tesst....
pls tell me the journal entries for following;
1. paid to mohan on account.
2. drew cash from bank for office use.
3.goods(costing rs.200, selling price r. 250) taken away by proprietor for personal use.
4.rent is due to s.sharma but not yet paid.
5.rent paid in january for 3 months upto march(transaction date in january)
6. paid rent of building by cheque haif of building was used by proprietor for personal use.
Journalise the following transactions:
(a) Mohan started business with cash Rs. 80,000, Machine Rs. 40,000 and Furniture Rs. 20,000.
(b) Rent paid Rs. 12,000 of which Rs. 5,000 relates to next year.
(c) Salary for the month Rs. 20,000 of which only Rs. 14,000 paid.
(d) Bought goods of list price Rs. 40,000 from Mahesh at a trade discount of 10% and cash discount 2%.
(e) Sold goods of list price Rs. 60,000 to Ajay less 10% trade discount and 2% cash discount.
(f) Bought goods of list price Rs. 40,000 from Lakshay at a trade discount of 10% and cash discount 2%.But paid only 40% in cash.
(g) Sold goods of list price Rs. 60,000 to Amar less 10% trade discount and 2% cash discount. Amar paid 60% by cheque.
(h) Sold Goods costing Rs. 36,000 to Akshay invoiced at 25% above cost ,less 10% trade discount and 2 % cash discount. Akshay paid the entire amount in cash.
(i) Bought goods of list price Rs. 20,000 from Vidhi less 10% trade discount and 2% cash discount. Paid the entire amount to Vidhi in cash.
(j) Commission due but not received Rs. 2,000.
(k) Allow interest on capital @ 6% p.a for 6 months (capital amounts to Rs. 1,40,000 )
(l) Paid life insurance premium Rs. 5,000.
(m) Purchased a machine for Rs. 45,000 , paid freight Rs. 2,000 and wages Rs. 3,000 for its installation.
(n) On 1/1/12 Goods costing Rs. 8,000 lost by fire ,the goods were insured and on 5/1/12 insurance company admit a claim of Rs. 6,500 this claim is received on 15/1/12 by cheque.
(o) Paid Income tax Rs. 1,500
(p) Machine of book value Rs. 45,000 exchanged for a new machine of Rs. 80,000, for this purpose old machine was valued at Rs. 28,000 and the balance paid by cheque.
(q) Closing stock i.e. stock at the end of year valued at Rs. 5,000.
(r) Goods costing Rs.4,000 having sales price of Rs. 5,000 distributed as free samples.
(s) Rajesh who owed us Rs. 6,000 declared insolvent and paid only Rs. 3,500.
(t) Received Rs. 2,500 from Rajesh which were written off as bad.
(u) Interest on drawing to be charged Rs. 1,000
Pass the necessary journal entry . A horse bought on April 20 died on April 30. It's carcase was sold for 5000 rupees.
Give journal entries of M/s. Mohit traders; post them to the Ledger from the following transactions:
August, 2005
Rs
1
Commenced business with cash
1,10,000
2
Opened bank account with H.D.F.C.
50,000
3
Purchased furniture
20,000
7
Bought goods for cash from M/s. Rupa Traders
30,000
8
Purchased good from M/s. Hema Traders
42,000
10
Sold goods for cash
30,000
14
Sold goods on credit to M/s. Gupta Traders
12,000
16
Rent paid
4,000
18
Paid trade expenses
1,000
20
Received cash from Gupta Traders
12,000
22
Goods return to Hema Traders
2,000
23
Cash paid to Hema Traders
40,000
25
Bought postage stamps
100
30
Paid salary to Rishabh
4,000
Journal entries for the following :-
Capital = 2,39,200
What is the difference between LF and JF?
CGST and SGST 6% charged intra state sale and purchase...
Journalise the following transaction in the books of Sanjana and post them into the ledger:
January, 2006
Rs
1
Cash in hand
6,000
Cash at bank
55,000
Stock of goods
40,000
Due to Rohan
6,000
Due from Tarun
10,000
3
Sold goods to Karuna
15,000
4
Cash sales
10,000
6
Goods sold to Heena
5,000
8
Purchased goods from Rupali
30,000
10
Goods returned from Karuna
2,000
14
Cash received from Karuna
13,000
15
Cheque given to Rohan
6,000
16
Cash received from Heena
3,000
20
Cheque received from Tarun
10,000
22
Cheque received from to Heena
2,000
25
Cash given to Rupali
18,000
26
Paid cartage
1,000
27
Paid salary
8,000
28
Cash sale
7,000
29
Cheque given to Rupali
12,000
30
Sanjana took goods for Personal use
4,000
31
Paid General expense
500
Bought goods from kailash for Rs.20000 at a trade discount of 10% at cash discount of 2% paid 60% amount immediately.
show an accounting equation :-
sunil started business with cash 1500000
he paid cartage 500
received rent from tenants 1000
received security deposite from tenants 1500
purches statinory in cash 100
invested in shares (personal) 50000
introduced fresh capital 25000
goods destroyed by 500
plz give me the solution of it . . . . its urgent really need a solution. . .
discounted a bill of RS 1000 at 1% throgh bank
what will be the journal entry for this question?
Received an order from Shyam for supply of goods of the list price of rs. 1,00,000 with an advance advance of 10% of list price. pass the journal entry
how is salary outstanding and rent in advance treated in accounting equation.??
Prepare accounting equation from the foolowing:-
1. Sandeep started business with cash Rs. 1,00,000
2.purcshased furniture for cash Rs. 5,000
3. purchased good for Rs. 20,000
4. purchased good on credit Rs. 36,000
5. paid for rent Rs. 700
6. goods costing s. 40,000 sold at a profit of 20% for cash
in which A/c can we classify bank overdraft A/c ?
personal A/c , real A/c, nominal A/c ....
what is the journal entry for cash embezzled by an employee?
please explain the conservatism principle.
What is the journal entry for "goods use or household"???
life insurance premium of the proprietor will be considered as drawings or an expense..??
Show the accounting equation on the basis of the following transaction:
(a)
Udit started business with:
Rs
(i)
Cash
5,00,000
(ii)
Goods
1,00,000
(b)
Purchased building for cash
2,00,000
(c)
Purchased goods from Himani
50,000
(d)
Sold goods to Ashu (Cost Rs 25,000)
36,000
(e)
Paid insurance premium
3,000
(f)
Rent outstanding
5,000
(g)
Depreciation on building
8,000
(h)
Cash withdrawn for personal use
20,000
(i)
Rent received in advance
5,000
(j)
Cash paid to Himani on account
20,000
(k)
Cash received from Ashu
30,000
how to do this equation (fresh capital invested) RS.50,000????????? plzz answer it fast..........
Mohit has the following transactions, prepare accounting equation:
Rs
(a)
Business started with cash
1,75,000
(b)
Purchased goods from Rohit
50,000
(c)
Sales goods on credit to Manish (Costing Rs 17,500)
20,000
(d)
Purchased furniture for office use
10,000
(e)
Cash paid to Rohit in full settlement
48,500
(f)
Cash received from Manish
20,000
(g)
Rent paid
1,000
(h)
Cash withdrew for personal use
3,000
Sold goods costing Rs.20,000 to Sunil at a profit of 20% on sale less 20% trade discount and paid cartage Rs.
150 (to be charged by the customer).
CGST & SGST is levied at 6%
Plz explain me the following :
Rahul become insolvent, who owed is Rs 2,000 a final dividend of 60 paise in a rupee is received from his estate.
Particulars
Dr.( ?)
Cr.( ?)
Capital
17,900
Drawings
2,100
Opening Stock
7450
Purchases
46,200
Sales
78,880
Wages
12,410
Electricity charges
620
Machinery and Equipments
7,200
Carriage outward
460
Returns inward
210
Returns outwards
580
Bank loan
700
Discount allowed
600
Discount received
600
Rent
2,200
Building Premises
2,950
Cash in hand
220
Sundry Creditors
9,850
Sundry Debtors
27,840
Bank Overdraft
1950
Total
1,10,460
1,10,460
give the journal entry of timber costing 5000rs was used for furnishing the office.
i want to make accounts project choosing any sole proprietor business and preparing atleast 30 transactions...plsss help me in choosing a business and tell me transactions also...
Issued a cheque in facour of M/s .Paramatma Singh& sons on account of purchase of goods worth $7500
What is the meaning of ' Honoured our own acceptance' ?
Charge depreciation @ 10% p.a for two month on machine costing Rs 30,000.
How do you journalise this and why does the amount become 500?
difference between outstanding income and accrued income?
Journalise the following transaction in the Books of the M/s. Bhanu Traders and Post them into the Ledger.
December, 2005
Rs
1
Started business with cash
92,000
2
Deposited into bank
60,000
4
Bought goods on credit from Himani
40,000
6
Purchased goods from cash
20,000
8
Returned goods to Himani
4,000
10
Sold goods for cash
20,000
14
Cheque given to Himani
36,000
17
Goods sold to M/s. Goyal TradeRs
3,50,000
19
Drew cash from bank for personal use
2,000
21
Goyal traders returned goods
3,500
22
Cash deposited into bank
20,000
26
Cheque received from Goyal Traders
31,500
28
Goods given as charity
2,000
29
Rent paid
3,000
30
Salary paid
7,000
31
Office machine purchased for cash
3,000
what is the journal entry for cash embezzled by an employee Rs. 2000?
Use accounting equation to show the effect of the following transactions of M/s Royal Traders:
Rs
(a)
Started business with cash
1,20,000
(b)
Purchased goods for cash
10,000
(c)
Rent received
5,000
(d)
Salary outstanding
2,000
(e)
Prepaid Insurance
1,000
(f)
Received interest
700
(g)
Sold goods for cash (costing Rs 5,000)
7,000
(h)
Goods destroyed by fire
500
a) Commenced business with cash Rs. 50, 000.
b) Paid rent Rs. 4, 000 including Rs. 1, 000 as advance.
c) Bought goods for cash Rs. 30, 000 and on credit Rs. 20, 000
d) Sold the goods bought on credit for Rs. 25, 000
e) Purchased furniture worth Rs. 10, 000 for office use and for Rs. 5, 000 for domestic use.
Journalise the following transactions, post to the ledger:
2005
Rs
Nov. 01
Business started with
(i) Cash
1,50,000
(ii) Goods
50,000
Nov. 03
Purchased goods from Harish
30,000
Nov. 05
Sold goods for cash
12,000
Nov. 08
Purchase furniture for cash
5,000
Nov. 10
Cash paid to Harish on account
15,000
Nov. 13
Paid sundry expenses
200
Nov. 15
Cash sales
15,000
Nov. 18
Deposited into bank
5,000
Nov. 20
Drew cash for personal use
1,000
Nov. 22
Cash paid to Harish in full settlement of account
14,700
Nov. 25
Good sold to Nitesh
7,000
Nov. 26
Cartage paid
200
Nov. 27
Rent paid
1,500
Nov. 29
Received cash from Nitesh
6,800
Discount allowed
200
Nov. 30
Salary paid 3,000
Pss Journal entries and prepare ledger accounts:
Mar. 1 . csh in hand-5500,bank-4500,machinery rs.15000, debtors-Ram-150 Sonu-2000, bank loan-10000, creditors-Sudha-2300.
Mar. 5.purchased goods from Sudha for rs. 1500.
Mar. 10 received cash from Sonu on account.
Mar. 15 cash deposits in bank rs. 2300.
Mar 31 paid to Sudha on account rs. 3500 by cheque.
Mar. 31 depriciation charged on machinery rs.1000. Paid bank loan instalment rs 1000.
briefly state the rules of debiting and crediting accounts classified on the basis of accounting equation?
what will be the journal entry of " GOODS LOST IN FIRE 2000 " ?????
Prepare accounting equation on the basis of the following:
(a) Harsha started business with cash Rs 2,00,000
(b) Purchased goods from Naman for cash Rs 40,000
(c) Sold goods to Bhanu costing Rs 10,000/- Rs 12,000
(d) Bought furniture on credit Rs 7,000
1)Paid salary Rs.450 and salary outstanding being Rs.100
2)Goods destroyed by fire Rs.500
I NEED THE ACCOUNTING EQUATION OF THIS, AS SOON AS POSSIBLE
purchase furniture for6000 for the proprietor and paid the amount by cheque