Loan sanctioned by Andhra bank was trasfered to current account. Pass journal entry2 3511
Aravinda Financiers sanctioned a loan of Rs 250000. A cheque was sent after adjusting processing charges Rs 247250 Pass necessary entry1016
Create Good Will of Rs 125000 and apportioned between the existing partners A,B and C as per their sharing ratios 25%,35% and the remaing %. Pass journal entry1 2298
Ramana deposited directly in our Andhra Bank towards deposit for DealershipRs 15000/-Pass entry6 4376
Deposited Rs 25000 in Canara Bank of ABC co towards dealership deposit thru our SBH Bank Pass necessary entry1164
Good will of Rs 100000 brought by D,a new partner was withdrawn by the partners in equal ratios.Pass required entries1 2211
Received from Krishna Murthy Rs 26500/- in full settlement of due Rs 30000/-. Pass entry9 52238
Sold goods worth Rs 75000/- inexchange of old furniture worth Rs 15000/- and balance in cash. Pass entr for it1 2463
A furniture dealer purchased 10 units of sofa sets each costs 2500 out of which one is for shop purpose.Pass necessary entry5 3404
Received cheque Rs 250000 which is exclusive of 5% Security deposit 2.24% income tax and i% miscellaneous recovery. Pass necessary entry1198
Ram, the proprietor brought additional capital of Rs 75000/- by pledging his wifes gold.pass entry1148
Purchase of goods worth Rs 354800 from Anand traders which is inclusive of vat tax 4%. Pass entry showing vat in detail1 1523
Received credit note for Rs 3500 towards transport charges on the goods supplied from Vinod traders. The transport charges were already paid at the time of delivery. Pass entries at the time of payment of transport and for credit note1173
Sent debit note to Vijay traders for short supply of material Rs 4500/-Pass entry1 3861
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