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What will be the journal entry for the following -
1)Goods purchased from Mohan for Rs 5000
2)Goods purchased from Mohan on credit Rs 3000
3)Salary paid to Mohan
4)A sum of Rs 120 is realized on the sale of old furniture
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Answer / sk
1) Purchases A/c Dr 5000
Mohan A/c cr 5000
(Being goods purchased from Mohan)
2.Purchases A/c Dr 3000
Mohan A/c cr 3000
(Being goods purchased from Mohan)
3. Salary A/c Dr
Cash A/c Cr
(Being Salary Paid to Mohan)
| Is This Answer Correct ? | 138 Yes | 35 No |
Answer / rd
4)
cash a/c Dr
furniture a/c Cr
(being sale of old furniture)
| Is This Answer Correct ? | 50 Yes | 20 No |
Answer / shaun05
cash a/c Dr
furniture a/c Cr
(being sale of old furniture)
| Is This Answer Correct ? | 29 Yes | 17 No |
Answer / arju
Also pls tell me what will be the journal entry for Goods
sold at Rs200 (without any sold to party name)
| Is This Answer Correct ? | 16 Yes | 9 No |
Answer / shaun05
Purchase A/c dr 5000
To Mohan a/c cr 5000
(being Goods purchased)
Purchase A/c dr 3000
To Mohan a/c cr 3000
(being Goods purchased on credit)
salary a/c dr
to cash/bank a/c
(being salary paid)
Purchase A/c dr 5000
To Mohan a/c cr 5000
(being Goods purchased)
| Is This Answer Correct ? | 15 Yes | 8 No |
Answer / arju
Please provide the journal entries with explanations i.e.
whether it is real ,personal or nominal account and what is
the rule applied for that.
Thanks in advance.
| Is This Answer Correct ? | 12 Yes | 6 No |
Answer / sunder pal
PURCHASE A/C DR. 5000
TO MOHAN A/C 5000
(BEING GOODS PURCHASE)
PARCHASE A/C DR. 3000
TO MOHAN A/C 3000
(BEING GOODS PURCHASE FROM ON CREDIT)
SALARY A/C DR. .......
TO CASH/BANK A/C ........
ENTRY 1st & 2nd are same because if particular name given
of purchaser then we asume that goods purchase on credit.
| Is This Answer Correct ? | 5 Yes | 4 No |
Answer / y a
Your Answer is correct but," A/c word is not used with a Person Name
Like :- Goods purchased from Mohan for Rs 5000
Ans-Purchases A/c Dr 5000
Mohan cr 5000
(Being goods purchased from Mohan
| Is This Answer Correct ? | 0 Yes | 0 No |
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