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Jounalize - received dividend 500 and interest 200 rupees?
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Jounalize - received dividend 500 and interest 200 rupees?
Cash A/C. dr. 700. To divident A/ C 500. To interest. A/C 200 may be...
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Jounalize - received dividend 500 and interest 200 rupees?
Journal Entry for Received Dividend and Interest
Step 1: Identify the Accounts Involved
The first step in journalizing the transaction is to identify which accounts are involved. In this case, we have received dividend and interest, so the accounts involved are:
- Dividend Income
- Interest Income
Step 2: Determine the Amounts Involved
The next step is to determine the amounts involved in the transaction. We have received a dividend of 500 rupees and interest of 200 rupees.
Step 3: Record the Journal Entry
Based on the accounts and amounts involved, the journal entry for the transaction would be:
| Account Title | Debit | Credit |
|---|---|---|
| Dividend Income | 500 | |
| Interest Income | 200 | |
| Cash | 700 |
Step 4: Explanation of the Journal Entry
The journal entry records the receipt of dividend and interest income. The two income accounts, Dividend Income and Interest Income, are debited for the amounts received. The cash account is credited for the total amount received, which is 700 rupees.
Step 5: Conclusion
By following these steps, we can properly journalize the receipt of dividend and interest income and accurately record the transaction in the company's books.
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Jounalize - received dividend 500 and interest 200 rupees?
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Jounalize - received dividend 500 and interest 200 rupees? for Commerce 2025 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Jounalize - received dividend 500 and interest 200 rupees? covers all topics & solutions for Commerce 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Jounalize - received dividend 500 and interest 200 rupees?.
Jounalize - received dividend 500 and interest 200 rupees? for Commerce 2025 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Jounalize - received dividend 500 and interest 200 rupees? covers all topics & solutions for Commerce 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Jounalize - received dividend 500 and interest 200 rupees?.
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