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journalise the following transaction goods destroyed by fire for rupees 5000 paid by cheque 25000 and wages on Asian of machineries issues a cheque in favour of Mr Parmanand Saran and souls on account of purchase of goods 75000 goods shown cos 65 60000 and Mr Kalu shows at any invoice price 10% above cost less 50% trade discount
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journalise the following transaction goods destroyed by fire for rupee...
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journalise the following transaction goods destroyed by fire for rupee...
Journal Entry for Goods Destroyed by Fire:
When goods are destroyed by fire, it is important to record the loss in the books of accounts. In this case, goods worth Rs. 50,000 were destroyed by fire.
Date: [Date of the transaction]
Account: Goods Destroyed by Fire Account
Debit: Rs. 50,000
Credit: Rs. 50,000
Account: Cash/Bank Account
Debit: Rs. 5,000
Account: Goods Destroyed by Fire Account
Credit: Rs. 5,000
Journal Entry for Payment by Cheque:
When a payment is made by cheque, it is recorded in the books of accounts. In this case, a payment of Rs. 25,000 was made by cheque.
Date: [Date of the transaction]
Account: Cash/Bank Account
Debit: Rs. 25,000
Account: Mr. Parmanand Saran's Account
Credit: Rs. 25,000
Journal Entry for Wages Paid on Maintenance of Machineries:
When wages are paid for the maintenance of machinery, it is recorded in the books of accounts. In this case, wages of an amount were paid.
Date: [Date of the transaction]
Account: Wages Account
Debit: Rs. [Amount]
Account: Cash/Bank Account
Credit: Rs. [Amount]
Journal Entry for Purchase of Goods:
When goods are purchased, it is recorded in the books of accounts. In this case, goods were purchased for Rs. 75,000.
Date: [Date of the transaction]
Account: Purchases Account
Debit: Rs. 75,000
Account: Cash/Bank Account
Credit: Rs. 75,000
Journal Entry for Cost of Goods Sold:
When goods are sold, the cost of goods sold is recorded in the books of accounts. In this case, the cost of goods sold was Rs. 60,000.
Date: [Date of the transaction]
Account: Cost of Goods Sold Account
Debit: Rs. 60,000
Account: Purchases Account
Credit: Rs. 60,000
Journal Entry for Trade Discount:
When a trade discount is given, it is recorded in the books of accounts. In this case, a trade discount of 50% was given.
Date: [Date of the transaction]
Account: Sales Account
Debit: Rs. [Amount]
Account: Trade Discount Account
Debit: Rs. [Amount]
Account: Debtors Account
Credit: Rs. [Amount]
Journal Entry for Invoice Price:
When an invoice
When goods are destroyed by fire, it is important to record the loss in the books of accounts. In this case, goods worth Rs. 50,000 were destroyed by fire.
Date: [Date of the transaction]
Account: Goods Destroyed by Fire Account
Debit: Rs. 50,000
Credit: Rs. 50,000
Account: Cash/Bank Account
Debit: Rs. 5,000
Account: Goods Destroyed by Fire Account
Credit: Rs. 5,000
Journal Entry for Payment by Cheque:
When a payment is made by cheque, it is recorded in the books of accounts. In this case, a payment of Rs. 25,000 was made by cheque.
Date: [Date of the transaction]
Account: Cash/Bank Account
Debit: Rs. 25,000
Account: Mr. Parmanand Saran's Account
Credit: Rs. 25,000
Journal Entry for Wages Paid on Maintenance of Machineries:
When wages are paid for the maintenance of machinery, it is recorded in the books of accounts. In this case, wages of an amount were paid.
Date: [Date of the transaction]
Account: Wages Account
Debit: Rs. [Amount]
Account: Cash/Bank Account
Credit: Rs. [Amount]
Journal Entry for Purchase of Goods:
When goods are purchased, it is recorded in the books of accounts. In this case, goods were purchased for Rs. 75,000.
Date: [Date of the transaction]
Account: Purchases Account
Debit: Rs. 75,000
Account: Cash/Bank Account
Credit: Rs. 75,000
Journal Entry for Cost of Goods Sold:
When goods are sold, the cost of goods sold is recorded in the books of accounts. In this case, the cost of goods sold was Rs. 60,000.
Date: [Date of the transaction]
Account: Cost of Goods Sold Account
Debit: Rs. 60,000
Account: Purchases Account
Credit: Rs. 60,000
Journal Entry for Trade Discount:
When a trade discount is given, it is recorded in the books of accounts. In this case, a trade discount of 50% was given.
Date: [Date of the transaction]
Account: Sales Account
Debit: Rs. [Amount]
Account: Trade Discount Account
Debit: Rs. [Amount]
Account: Debtors Account
Credit: Rs. [Amount]
Journal Entry for Invoice Price:
When an invoice
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journalise the following transaction goods destroyed by fire for rupees 5000 paid by cheque 25000 and wages on Asian of machineries issues a cheque in favour of Mr Parmanand Saran and souls on account of purchase of goods 75000 goods shown cos 65 60000 and Mr Kalu shows at any invoice price 10% above cost less 50% trade discount Related: Books of Original Entry- Journal (Part - 1)?
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journalise the following transaction goods destroyed by fire for rupees 5000 paid by cheque 25000 and wages on Asian of machineries issues a cheque in favour of Mr Parmanand Saran and souls on account of purchase of goods 75000 goods shown cos 65 60000 and Mr Kalu shows at any invoice price 10% above cost less 50% trade discount Related: Books of Original Entry- Journal (Part - 1)? for Class 11 2024 is part of Class 11 preparation. The Question and answers have been prepared according to the Class 11 exam syllabus. Information about journalise the following transaction goods destroyed by fire for rupees 5000 paid by cheque 25000 and wages on Asian of machineries issues a cheque in favour of Mr Parmanand Saran and souls on account of purchase of goods 75000 goods shown cos 65 60000 and Mr Kalu shows at any invoice price 10% above cost less 50% trade discount Related: Books of Original Entry- Journal (Part - 1)? covers all topics & solutions for Class 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for journalise the following transaction goods destroyed by fire for rupees 5000 paid by cheque 25000 and wages on Asian of machineries issues a cheque in favour of Mr Parmanand Saran and souls on account of purchase of goods 75000 goods shown cos 65 60000 and Mr Kalu shows at any invoice price 10% above cost less 50% trade discount Related: Books of Original Entry- Journal (Part - 1)?.
journalise the following transaction goods destroyed by fire for rupees 5000 paid by cheque 25000 and wages on Asian of machineries issues a cheque in favour of Mr Parmanand Saran and souls on account of purchase of goods 75000 goods shown cos 65 60000 and Mr Kalu shows at any invoice price 10% above cost less 50% trade discount Related: Books of Original Entry- Journal (Part - 1)? for Class 11 2024 is part of Class 11 preparation. The Question and answers have been prepared according to the Class 11 exam syllabus. Information about journalise the following transaction goods destroyed by fire for rupees 5000 paid by cheque 25000 and wages on Asian of machineries issues a cheque in favour of Mr Parmanand Saran and souls on account of purchase of goods 75000 goods shown cos 65 60000 and Mr Kalu shows at any invoice price 10% above cost less 50% trade discount Related: Books of Original Entry- Journal (Part - 1)? covers all topics & solutions for Class 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for journalise the following transaction goods destroyed by fire for rupees 5000 paid by cheque 25000 and wages on Asian of machineries issues a cheque in favour of Mr Parmanand Saran and souls on account of purchase of goods 75000 goods shown cos 65 60000 and Mr Kalu shows at any invoice price 10% above cost less 50% trade discount Related: Books of Original Entry- Journal (Part - 1)?.
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