Purchased a 'horse' for business for RS 20000 what is the journal entry of this question?

Question

Answer

Horse a/c Dr.     To cash a/c Cr.

Answer

Livestock a/c Dr. To cash / bank a/c

Answer

Livestock.     A/c.  Dr.          20000           To cash   a/c.                      20000

Answer

HORSE A/c ...dr. 20000
to cash A/c 20000

Answer

Journal Entry for the Purchase of a Horse for Business

The purchase of a horse for business involves an expenditure of Rs. 20,000. This transaction needs to be recorded in the books of accounts through a journal entry. The journal entry for the purchase of a horse for business is as follows:

HTML bold tag: Date

HTML bullet point: Date of the transaction

HTML bold tag: Account Debit

HTML bullet point: Horse Account

HTML bold tag: Account Credit

HTML bullet point: Cash/Bank Account

HTML bold tag: Amount

HTML bullet point: Rs. 20,000

Explanation

The above journal entry is based on the rules of double-entry bookkeeping, which states that every financial transaction involves two accounts: a debit account and a credit account. In this case, the horse account is debited as it is an asset, and the cash/bank account is credited as it is a liability.

The transaction is recorded at the cost price of Rs. 20,000, which includes the purchase price of the horse, transportation cost, and any other expenses incurred in bringing the horse to the business premises.

Conclusion

In conclusion, the journal entry for the purchase of a horse for business involves debiting the horse account and crediting the cash or bank account with the cost price of the horse. This transaction helps to keep track of the business's assets and liabilities, and it is essential for accurate financial reporting and analysis.

Answer

Horse A/C dr. To Cash A/c

Answer

Livestock a/c.       Dr.           To cash a/c

Answer

Live stock a/c Dr.
To cash /Bank a/c

Answer

Live stock a/c dr.    To cash a/c

Answer

Livestock A/c ---------- Dr. Rs. 20,000 To Cash A/c Rs. 20,000

Answer

Livestock A/c Dr. 20000
To cash A/c 20000

Answer

Horse a/c Dr 20000
to cash a/c

Answer

Livestock A/c.          Dr.  20,000      To cash/Bank A/c.                  20,000

Answer

Livestock a/c Dr. 20000
to bank a/c. 20000

Answer

Livestock a/c dr.       To cash or bank a/c

Answer

Livestock. Dr. To cash

Answer

Livestock A/C Dr 20000To Cash/bank A/c20000

Answer

Livestock a/c Dr. To cash a/c

Answer

Livestock a/c Dr
To cash a/c

Answer

LIVESTOCK A/C - dr 20000

to CASH A/C 20000

Answer

Livestock A/c. Dr. To, Cash a/c

Answer

Horse A/C   Dr to cash A/c cr 20000

Answer

Livestock  A/C. Dr.  20000       To cash  A/C.             20000

Answer

Horse is an asset for the business... so
horse a/c Dr.
to cash a/c

Answer

Livestock account.......Dr To cash account.

Answer

Livestock a/c Dr  to cash a/c

Answer

Horse A/C dr. 20,000
To Bank A/C 20,000

Answer

I think livestock ac   dr.             To purchases ac

Answer

Live stock A/C Dr. 20000
To Cash A/C. 20000

Answer

Live stock a/c dr
to bank a/c

Answer

Livestock a/c. Dr.
to cash a/c

Answer

Livestock a/c                Dr. 20,000 /      To bank a/c                             / 20,000

Answer

Live stock A/C.   Dr.  20000   To cash   A/C.                      20000

Answer

Horse A/C. Dr. 20000
To Cash A/C. 20000

Answer

Livestock A/c

To Cash A/c

Answer

Purchase a/c Dr.
to bank a/c.

Answer

Horse a/c dr.To cash a/c

Answer

Live stock A/C dr    To cash a/c

Answer

Live Stock a/c dr. 20000
to cash a/c 20000

Answer

Live stock a/c.             Dr        To bank a/c

Answer

Horse a/c dr to bank /cash a/c

Answer

Live stock a/c dr 20000 To cash a/c 20000

Answer

Live stock a/c.        Dr.         20000         To bank a/c.                               20000

Answer

Horse a/c              dr.        To cash

Answer

Live stock a/c Dr.
To cash a/c

Answer

Dr inventory. Horse
cr cash. 2000

Answer

Livestock dr.
To cash

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Mr Ramesh started business on 1st april2011 with a capital of rs 150000during the year the following transaction took place Furniture purchase for cash rs 20000 Purchased goods from Mahesh on credit rs 25000?

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