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Pass Journal Entries for the following: a. Received an order for goods along with advance for Rs. 1000 in cash from Mohan. b. Owner owned a house of Rs. 500,000. He gave half portion of his house is given to his business. c. Received from salesman Rs. 3390 for goods sold by him after deducting conveyance expenses of Rs. 150 (CGST and SGST 9%) d. Paid Rent by Cheque Rs. 600 (CGST and SGST 9%)?
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Pass Journal Entries for the following: a. Received an order for goods...
Journal Entries for Transactions
a. Received an order for goods along with advance for Rs. 1000 in cash from Mohan.
- Cash Account Debit - Rs. 1000
- Advance Received Account Credit - Rs. 1000
b. Owner owned a house of Rs. 500,000. He gave half portion of his house is given to his business.
- Owner's Equity Account Debit - Rs. 250,000
- Capital Account Credit - Rs. 250,000
c. Received from salesman Rs. 3390 for goods sold by him after deducting conveyance expenses of Rs. 150 (CGST and SGST 9%)
- Cash Account Debit - Rs. 3390
- CGST Account Debit - Rs. 152.55
- SGST Account Debit - Rs. 152.55
- Sales Account Credit - Rs. 3000
- Conveyance Expenses Account Credit - Rs. 150
d. Paid Rent by Cheque Rs. 600 (CGST and SGST 9%)
- Rent Account Debit - Rs. 600
- CGST Account Credit - Rs. 27
- SGST Account Credit - Rs. 27
- Bank Account Credit - Rs. 654
Explanation
a. The business received an order for goods along with the advance payment of Rs. 1000 in cash from Mohan. Therefore, the cash account is debited, and the advance received account is credited.
b. The owner gives half portion of his house to his business, and the value of the house is Rs. 500,000. As a result, the owner's equity account is debited, and the capital account is credited.
c. The business received Rs. 3390 from a salesman for goods sold by him after deducting conveyance expenses of Rs. 150. The CGST and SGST rate is 9%, and the sales account is credited with Rs. 3000. The cash account is debited with Rs. 3390, and the CGST and SGST accounts are debited with Rs. 152.55 each. The conveyance expenses account is credited with Rs. 150.
d. The business paid rent of Rs. 600 through a cheque. The CGST and SGST rate is 9%. The rent account is debited with Rs. 600, and the CGST and SGST accounts are credited with Rs. 27 each. The bank account is credited with Rs. 654.
Note: The journal entries are made for every transaction and are used in the bookkeeping process to record financial transactions. It helps in maintaining financial records accurately and efficiently.
a. Received an order for goods along with advance for Rs. 1000 in cash from Mohan.
- Cash Account Debit - Rs. 1000
- Advance Received Account Credit - Rs. 1000
b. Owner owned a house of Rs. 500,000. He gave half portion of his house is given to his business.
- Owner's Equity Account Debit - Rs. 250,000
- Capital Account Credit - Rs. 250,000
c. Received from salesman Rs. 3390 for goods sold by him after deducting conveyance expenses of Rs. 150 (CGST and SGST 9%)
- Cash Account Debit - Rs. 3390
- CGST Account Debit - Rs. 152.55
- SGST Account Debit - Rs. 152.55
- Sales Account Credit - Rs. 3000
- Conveyance Expenses Account Credit - Rs. 150
d. Paid Rent by Cheque Rs. 600 (CGST and SGST 9%)
- Rent Account Debit - Rs. 600
- CGST Account Credit - Rs. 27
- SGST Account Credit - Rs. 27
- Bank Account Credit - Rs. 654
Explanation
a. The business received an order for goods along with the advance payment of Rs. 1000 in cash from Mohan. Therefore, the cash account is debited, and the advance received account is credited.
b. The owner gives half portion of his house to his business, and the value of the house is Rs. 500,000. As a result, the owner's equity account is debited, and the capital account is credited.
c. The business received Rs. 3390 from a salesman for goods sold by him after deducting conveyance expenses of Rs. 150. The CGST and SGST rate is 9%, and the sales account is credited with Rs. 3000. The cash account is debited with Rs. 3390, and the CGST and SGST accounts are debited with Rs. 152.55 each. The conveyance expenses account is credited with Rs. 150.
d. The business paid rent of Rs. 600 through a cheque. The CGST and SGST rate is 9%. The rent account is debited with Rs. 600, and the CGST and SGST accounts are credited with Rs. 27 each. The bank account is credited with Rs. 654.
Note: The journal entries are made for every transaction and are used in the bookkeeping process to record financial transactions. It helps in maintaining financial records accurately and efficiently.
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Pass Journal Entries for the following: a. Received an order for goods along with advance for Rs. 1000 in cash from Mohan. b. Owner owned a house of Rs. 500,000. He gave half portion of his house is given to his business. c. Received from salesman Rs. 3390 for goods sold by him after deducting conveyance expenses of Rs. 150 (CGST and SGST 9%) d. Paid Rent by Cheque Rs. 600 (CGST and SGST 9%)?
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Pass Journal Entries for the following: a. Received an order for goods along with advance for Rs. 1000 in cash from Mohan. b. Owner owned a house of Rs. 500,000. He gave half portion of his house is given to his business. c. Received from salesman Rs. 3390 for goods sold by him after deducting conveyance expenses of Rs. 150 (CGST and SGST 9%) d. Paid Rent by Cheque Rs. 600 (CGST and SGST 9%)? 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 Pass Journal Entries for the following: a. Received an order for goods along with advance for Rs. 1000 in cash from Mohan. b. Owner owned a house of Rs. 500,000. He gave half portion of his house is given to his business. c. Received from salesman Rs. 3390 for goods sold by him after deducting conveyance expenses of Rs. 150 (CGST and SGST 9%) d. Paid Rent by Cheque Rs. 600 (CGST and SGST 9%)? covers all topics & solutions for Class 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Pass Journal Entries for the following: a. Received an order for goods along with advance for Rs. 1000 in cash from Mohan. b. Owner owned a house of Rs. 500,000. He gave half portion of his house is given to his business. c. Received from salesman Rs. 3390 for goods sold by him after deducting conveyance expenses of Rs. 150 (CGST and SGST 9%) d. Paid Rent by Cheque Rs. 600 (CGST and SGST 9%)?.
Pass Journal Entries for the following: a. Received an order for goods along with advance for Rs. 1000 in cash from Mohan. b. Owner owned a house of Rs. 500,000. He gave half portion of his house is given to his business. c. Received from salesman Rs. 3390 for goods sold by him after deducting conveyance expenses of Rs. 150 (CGST and SGST 9%) d. Paid Rent by Cheque Rs. 600 (CGST and SGST 9%)? 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 Pass Journal Entries for the following: a. Received an order for goods along with advance for Rs. 1000 in cash from Mohan. b. Owner owned a house of Rs. 500,000. He gave half portion of his house is given to his business. c. Received from salesman Rs. 3390 for goods sold by him after deducting conveyance expenses of Rs. 150 (CGST and SGST 9%) d. Paid Rent by Cheque Rs. 600 (CGST and SGST 9%)? covers all topics & solutions for Class 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Pass Journal Entries for the following: a. Received an order for goods along with advance for Rs. 1000 in cash from Mohan. b. Owner owned a house of Rs. 500,000. He gave half portion of his house is given to his business. c. Received from salesman Rs. 3390 for goods sold by him after deducting conveyance expenses of Rs. 150 (CGST and SGST 9%) d. Paid Rent by Cheque Rs. 600 (CGST and SGST 9%)?.
Solutions for Pass Journal Entries for the following: a. Received an order for goods along with advance for Rs. 1000 in cash from Mohan. b. Owner owned a house of Rs. 500,000. He gave half portion of his house is given to his business. c. Received from salesman Rs. 3390 for goods sold by him after deducting conveyance expenses of Rs. 150 (CGST and SGST 9%) d. Paid Rent by Cheque Rs. 600 (CGST and SGST 9%)? in English & in Hindi are available as part of our courses for Class 11.
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Pass Journal Entries for the following: a. Received an order for goods along with advance for Rs. 1000 in cash from Mohan. b. Owner owned a house of Rs. 500,000. He gave half portion of his house is given to his business. c. Received from salesman Rs. 3390 for goods sold by him after deducting conveyance expenses of Rs. 150 (CGST and SGST 9%) d. Paid Rent by Cheque Rs. 600 (CGST and SGST 9%)?, a detailed solution for Pass Journal Entries for the following: a. Received an order for goods along with advance for Rs. 1000 in cash from Mohan. b. Owner owned a house of Rs. 500,000. He gave half portion of his house is given to his business. c. Received from salesman Rs. 3390 for goods sold by him after deducting conveyance expenses of Rs. 150 (CGST and SGST 9%) d. Paid Rent by Cheque Rs. 600 (CGST and SGST 9%)? has been provided alongside types of Pass Journal Entries for the following: a. Received an order for goods along with advance for Rs. 1000 in cash from Mohan. b. Owner owned a house of Rs. 500,000. He gave half portion of his house is given to his business. c. Received from salesman Rs. 3390 for goods sold by him after deducting conveyance expenses of Rs. 150 (CGST and SGST 9%) d. Paid Rent by Cheque Rs. 600 (CGST and SGST 9%)? theory, EduRev gives you an
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