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Journalise 1)proprietor withdre goods for personal use cost price 6k and sellibg price 8k 2)cash embezzled by the cashier 3)Till takings 4)life insurance premium paid for the proprietor 5)personal income taxes paid 6)Trade discount allowed to customers 7)interest on o/d 8)A customer who owes us rs 1lakh becomes insolvent .out of the private assets we could recover only 60paise in a rupee 8)Totalling error commited in passbook by our banker.Dur to which our passbook balance decreased by 3k?
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Journalise 1)proprietor withdre goods for personal use cost price 6k a...
1. Proprietor withdrew goods for personal use:
The proprietor withdrew goods with a cost price of Rs 6,000 and a selling price of Rs 8,000 for personal use. This transaction should be recorded as a withdrawal of goods for personal use in the accounting records.
2. Cash embezzled by the cashier:
Cash embezzled by the cashier should be recorded as a loss in the accounts. The amount embezzled should be deducted from the cash balance in the books.
3. Till takings:
Till takings represent the total cash and sales made during a specific period. This amount should be accurately recorded in the books of accounts.
4. Life insurance premium paid for the proprietor:
The payment of life insurance premium for the proprietor should be treated as a business expense and recorded accordingly.
5. Personal income taxes paid:
Personal income taxes paid by the proprietor should not be recorded as a business expense. It is a personal expense and should be accounted for separately.
6. Trade discount allowed to customers:
Trade discounts offered to customers should be deducted from the sales revenue in the books of accounts.
7. Interest on overdraft:
Interest on overdraft should be recorded as a finance cost in the books of accounts.
8. Customer becomes insolvent:
When a customer becomes insolvent, and we can only recover a portion of the debt, the amount recoverable should be adjusted in the accounts as a bad debt expense.
9. Totalling error in passbook:
If there is a totaling error in the passbook by the banker, leading to a decrease in the passbook balance, it should be rectified by reconciling the bank statement with the passbook and identifying the discrepancy.
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Journalise 1)proprietor withdre goods for personal use cost price 6k and sellibg price 8k 2)cash embezzled by the cashier 3)Till takings 4)life insurance premium paid for the proprietor 5)personal income taxes paid 6)Trade discount allowed to customers 7)interest on o/d 8)A customer who owes us rs 1lakh becomes insolvent .out of the private assets we could recover only 60paise in a rupee 8)Totalling error commited in passbook by our banker.Dur to which our passbook balance decreased by 3k?
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Journalise 1)proprietor withdre goods for personal use cost price 6k and sellibg price 8k 2)cash embezzled by the cashier 3)Till takings 4)life insurance premium paid for the proprietor 5)personal income taxes paid 6)Trade discount allowed to customers 7)interest on o/d 8)A customer who owes us rs 1lakh becomes insolvent .out of the private assets we could recover only 60paise in a rupee 8)Totalling error commited in passbook by our banker.Dur to which our passbook balance decreased by 3k? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Journalise 1)proprietor withdre goods for personal use cost price 6k and sellibg price 8k 2)cash embezzled by the cashier 3)Till takings 4)life insurance premium paid for the proprietor 5)personal income taxes paid 6)Trade discount allowed to customers 7)interest on o/d 8)A customer who owes us rs 1lakh becomes insolvent .out of the private assets we could recover only 60paise in a rupee 8)Totalling error commited in passbook by our banker.Dur to which our passbook balance decreased by 3k? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Journalise 1)proprietor withdre goods for personal use cost price 6k and sellibg price 8k 2)cash embezzled by the cashier 3)Till takings 4)life insurance premium paid for the proprietor 5)personal income taxes paid 6)Trade discount allowed to customers 7)interest on o/d 8)A customer who owes us rs 1lakh becomes insolvent .out of the private assets we could recover only 60paise in a rupee 8)Totalling error commited in passbook by our banker.Dur to which our passbook balance decreased by 3k?.
Journalise 1)proprietor withdre goods for personal use cost price 6k and sellibg price 8k 2)cash embezzled by the cashier 3)Till takings 4)life insurance premium paid for the proprietor 5)personal income taxes paid 6)Trade discount allowed to customers 7)interest on o/d 8)A customer who owes us rs 1lakh becomes insolvent .out of the private assets we could recover only 60paise in a rupee 8)Totalling error commited in passbook by our banker.Dur to which our passbook balance decreased by 3k? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Journalise 1)proprietor withdre goods for personal use cost price 6k and sellibg price 8k 2)cash embezzled by the cashier 3)Till takings 4)life insurance premium paid for the proprietor 5)personal income taxes paid 6)Trade discount allowed to customers 7)interest on o/d 8)A customer who owes us rs 1lakh becomes insolvent .out of the private assets we could recover only 60paise in a rupee 8)Totalling error commited in passbook by our banker.Dur to which our passbook balance decreased by 3k? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Journalise 1)proprietor withdre goods for personal use cost price 6k and sellibg price 8k 2)cash embezzled by the cashier 3)Till takings 4)life insurance premium paid for the proprietor 5)personal income taxes paid 6)Trade discount allowed to customers 7)interest on o/d 8)A customer who owes us rs 1lakh becomes insolvent .out of the private assets we could recover only 60paise in a rupee 8)Totalling error commited in passbook by our banker.Dur to which our passbook balance decreased by 3k?.
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