Can you explain the answer of this question below:
Goods costing Rs. 5,000 given to a worker towards wages Rs. 5,000. Market price of goods is Rs. 6,000. Journal entry will be
- A:Wages A/c Dr. Rs. 6,000To Sales A/c Rs. 6,000
- B:Wages A/c Dr. Rs. 5,000To Purchases A/c Rs. 5,000
- C:Wages A/c Dr. Rs. 5,000To Cash A/c Rs. 5,000
- D:None of the above
The answer is b.
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Abc
May 20, 2018 |
In the above transaction, Goods given can not be treated as sale, & There is also no cash inflow....... There is jst a transfer from purchases A/c to wages A/c...........So, The answer is 'B'
In the above transaction, Goods given can not be treated as sale, & There is also no cash inflow....... There is jst a transfer from purchases A/c to wages A/c...........So, The answer is 'B'
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In the above transaction, Goods given can not be treated as sale, & There is also no cash inflow....... There is jst a transfer from purchases A/c to wages A/c...........So, The answer is 'B'
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