Pass the journal entries for the following transactions in
the Books of Mr S.K.Jain?
a) He Sold old furniture for Rs 5000/-

Question

Pass the journal entries for the following transactions in

the Books of Mr S.K.Jain?

a) He Sold old furniture for Rs/-

b) He received insurance commission of Rs0/-

c) Rent paid by cheque Rs/-

d) He incurred traveling expenses of Rs/-

Muhammad Usman Zia · Answer

Cash Debit Rs/- 5000

Furniture Credit Rs/- 5000

Santosh Yadav · Answer

1) He Sold old furniture for Rs 5002) He received insurance of Rs -
3) Rent paid by cheque Rs-4) He incurred travelling expenses of Rs

Khaled Hassan Ibrahim AlQaisi Abu Waleed · Answer

Prepaid-Magazine Expenses A/C   Dr

Bank/cash A/C                                     CR

Then on the end of the every month ( may be quarterly) , the the expenses will be booked as

Magazine Expenses   A/C                     Dr

Prepaid-Magazine Expenses A/C       Cr

Md Firozal Hoque · Answer

Answer a) Cash --Debit Rs/- 5000

Furniture Credit Rs/- 5000

b)

Bank debit

Insurance comission credit

C) rent exenses -Debit

Bank - Credit

D) Traveling Expenses - Debit

Traveling expenses payable - Credit

dhy rani · Answer

1. sales account --------dr 5000

to furniture acconut ---------cr 5000

2. mr s.k.jain account -----dr 5000

to insurance commission account -----cr 5000

3 . rent account ------dr

to bank ----cr

4.travelling expenses account ----dr

to mr. s.k.jain -------cr