Class 11 Exam > Class 11 Questions > Entre the following transactions in the journ...
Start Learning for Free
Entre the following transactions in the journal of Bihar industrial corporations?
Most Upvoted Answer
Entre the following transactions in the journal of Bihar industrial co...
Journal Entries for Bihar Industrial Corporations
Transaction 1: Purchased raw materials on credit from XYZ Suppliers
- Date: [Date of transaction]
- Account Credited: Raw Materials Account
- Amount Credited: [Amount]
- Account Debited: XYZ Suppliers Account
- Amount Debited: [Amount]
- Explanation: Bihar Industrial Corporations purchased raw materials from XYZ Suppliers on credit. Hence, the Raw Materials Account is credited, and the XYZ Suppliers Account is debited.
Transaction 2: Sold goods on credit to ABC Traders
- Date: [Date of transaction]
- Account Credited: ABC Traders Account
- Amount Credited: [Amount]
- Account Debited: Sales Account
- Amount Debited: [Amount]
- Explanation: Bihar Industrial Corporations sold goods to ABC Traders on credit. Hence, the ABC Traders Account is credited, and the Sales Account is debited.
Transaction 3: Paid salary to employees
- Date: [Date of transaction]
- Account Credited: Cash Account
- Amount Credited: [Amount]
- Account Debited: Salary Account
- Amount Debited: [Amount]
- Explanation: Bihar Industrial Corporations paid salary to its employees. Hence, the Cash Account is credited, and the Salary Account is debited.
Transaction 4: Received cash from debtors
- Date: [Date of transaction]
- Account Credited: Cash Account
- Amount Credited: [Amount]
- Account Debited: Debtors Account
- Amount Debited: [Amount]
- Explanation: Bihar Industrial Corporations received cash from its debtors. Hence, the Cash Account is debited, and the Debtors Account is credited.
Transaction 5: Purchased machinery for cash
- Date: [Date of transaction]
- Account Credited: Machinery Account
- Amount Credited: [Amount]
- Account Debited: Cash Account
- Amount Debited: [Amount]
- Explanation: Bihar Industrial Corporations purchased machinery for cash. Hence, the Machinery Account is debited, and the Cash Account is credited.
Community Answer
Entre the following transactions in the journal of Bihar industrial co...
Commended business with cash 50,000
machinery 15,000
stock 5,000
received loan from Allahabad bank 25,000
bought goods from m/s Saha and sons 3000
returned goods to m/s Saha and sons 500
sold goods to m/s Bihar trading 5000
m/s Bihar trading returned goods 500
received commission 300
paid advertising expenses 150
paid to m/s Saha and sons by cheque 2000
received cash from m/s Bihar trading in full settlements of their account 4300
withdraw for household expenses 500
travelling expenses paid to salesman 200
paid cash to m/s Saha and sons 480
they allowed discount 20
paid wages and salaries 2000
paid interest 500
machinery 15,000
stock 5,000
received loan from Allahabad bank 25,000
bought goods from m/s Saha and sons 3000
returned goods to m/s Saha and sons 500
sold goods to m/s Bihar trading 5000
m/s Bihar trading returned goods 500
received commission 300
paid advertising expenses 150
paid to m/s Saha and sons by cheque 2000
received cash from m/s Bihar trading in full settlements of their account 4300
withdraw for household expenses 500
travelling expenses paid to salesman 200
paid cash to m/s Saha and sons 480
they allowed discount 20
paid wages and salaries 2000
paid interest 500
Attention Class 11 Students!
To make sure you are not studying endlessly, EduRev has designed Class 11 study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Class 11.
|
Explore Courses for Class 11 exam
|
|
Similar Class 11 Doubts
Top Courses for Class 11View all
Entre the following transactions in the journal of Bihar industrial corporations?
Question Description
Entre the following transactions in the journal of Bihar industrial corporations? 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 Entre the following transactions in the journal of Bihar industrial corporations? covers all topics & solutions for Class 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Entre the following transactions in the journal of Bihar industrial corporations?.
Entre the following transactions in the journal of Bihar industrial corporations? 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 Entre the following transactions in the journal of Bihar industrial corporations? covers all topics & solutions for Class 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Entre the following transactions in the journal of Bihar industrial corporations?.
Solutions for Entre the following transactions in the journal of Bihar industrial corporations? in English & in Hindi are available as part of our courses for Class 11.
Download more important topics, notes, lectures and mock test series for Class 11 Exam by signing up for free.
Here you can find the meaning of Entre the following transactions in the journal of Bihar industrial corporations? defined & explained in the simplest way possible. Besides giving the explanation of
Entre the following transactions in the journal of Bihar industrial corporations?, a detailed solution for Entre the following transactions in the journal of Bihar industrial corporations? has been provided alongside types of Entre the following transactions in the journal of Bihar industrial corporations? theory, EduRev gives you an
ample number of questions to practice Entre the following transactions in the journal of Bihar industrial corporations? tests, examples and also practice Class 11 tests.
|
|
Explore Courses for Class 11 exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup