Pass journal entry : paid club bill of the proprietor by cheque Rs.200?

Question

Answer

As club bill of proprietor is also drawing so, journal entry will be:- drawing a/c Dr. To bank a/c

Answer

Drawings a/c dr...... To bank

Answer

Drawing.        a/c.        Dr..          To bank a/c

Answer

Bank a/c Dr
to club bill of proprietor a/c

Answer

Bank A/C........Dr.
To club bill

Answer

Drawing A/c...Dr 200, To Back A/c.200

Answer

Drawing A/c. Dr.
To Bank A/c.

Answer

Drawings a/c dr.    200         To banka/c              200

Answer

Drawing a/c Dr  to bank a/c ( because club bill is a personal a/c  so it is a drawing a/c )

Answer

Club account. dr. 200 To bank account. 200 being paid club bill of the proprietor by cheque

Answer

Drawing A/c Dr.  To bank a/c.

Answer

Club bill is a personal expense of the proprietor.
Hence,drawings a/c is debited .
since it is paid by cheque ,bank a/c is affected .Bank is the giver and hence credited .
therefore the journal entry is :
drawings a/c dr. 200
to bank a/c 200
(Being paid club bill of the proprietor by cheque)

Answer

Drawings A/C Dr To Bank A/C Club bill is the personal expense of proprietor , so it is DRAWINGS but in the books of owners there names are not use so drawings is compancited with proprietor's name and also proprietor is a person so as per personal a/c's rule debit the receiver. Expense is paid in cheque so therefore bank is involved here , and bank is a real a/c so as per real a /c 's rule credit what goes out . And that's all , hope it helps you.

Answer

Journal Entry for Payment of Club Bill by Cheque

When a company or an individual pays a bill or an invoice by cheque, the transaction needs to be recorded in the accounting books. The following journal entry is made to reflect the payment of a club bill by cheque:

Date: (Date of Transaction)

Particulars: Club Bill A/C Dr. (Debit)

Amount: Rs.200

To: Bank A/C (Credit)

Amount: Rs.200

Explanation:

The above journal entry reflects the payment of a club bill by cheque worth Rs.200. Here is a detailed explanation of the transaction:

Debit: Club Bill A/C
The club bill account is debited because it is an expense incurred by the business. The payment made for the club bill reduces the liability of the business and, hence, the account is debited.

Credit: Bank A/C
The bank account is credited because the payment is made by cheque. The cheque is a payment instrument, and the bank account is reduced by the same amount.

Conclusion:

In conclusion, making payments by cheque is a common practice in today's business world. Recording these transactions accurately is crucial for maintaining accurate financial records. The above journal entry explains how to record the payment of a club bill by cheque in the accounting books.

Answer

Drawings Dr to bank

Answer

Drawings A/C    dr.                    To Bank

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