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Rs. 200 paid as wages for erecting a machine should be debited to
- a)Repair account.
- b)Machine account.
- c)Capital account.
- d)Furniture account
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Rs. 200 paid as wages for erecting a machine should be debited toa)Rep...
Machinery A/c will be Debited .
And the journal entry for this ;-
Machinery A/c ------------Dr.
To cash A/c
( Being, paid installation charges for machinery )
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Rs. 200 paid as wages for erecting a machine should be debited toa)Rep...
Explanation:
When a machine is purchased, it is recorded in the books of accounts under the head 'Machinery Account'. However, when the machine is installed or erected, some additional expenses are incurred for the same. These expenses are known as 'Installation Expenses' or 'Erection Expenses'. These expenses are debited to the Machinery Account as they form a part of the cost of the machine.
In this case, Rs. 200 paid as wages for erecting a machine should be debited to the Machine Account as it forms a part of the cost of the machine.
Hence, the correct answer is option 'B'.
When a machine is purchased, it is recorded in the books of accounts under the head 'Machinery Account'. However, when the machine is installed or erected, some additional expenses are incurred for the same. These expenses are known as 'Installation Expenses' or 'Erection Expenses'. These expenses are debited to the Machinery Account as they form a part of the cost of the machine.
In this case, Rs. 200 paid as wages for erecting a machine should be debited to the Machine Account as it forms a part of the cost of the machine.
Hence, the correct answer is option 'B'.
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Rs. 200 paid as wages for erecting a machine should be debited toa)Repair account.b)Machine account.c)Capital account.d)Furniture accountCorrect answer is option 'B'. Can you explain this answer?
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