Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

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

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/-

user-image
Question added by Mohammad Iqbal Abubaker , Jahaca Pty Ltd - Accounts Administrator , Jahaca Pty Ltd - Accounts Administrator
Date Posted: 2017/03/12
Muhammad Usman  Zia
by Muhammad Usman Zia , Purchase Executive , Hotel One Pvt Ltd

Cash Debit             Rs/-   5000

                Furniture Credit                         Rs/-   5000

Santosh Yadav
by Santosh Yadav , Executive engineering and maintenance , Shilpa Ltd.

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
by Khaled Hassan Ibrahim AlQaisi Abu Waleed , Financial Analyst and 5YPPP Manager , PMO– Riyadh Municipality

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
by Md Firozal Hoque , Head of Accounts , Bay Group

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

 

 

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 

 

More Questions Like This