Interested to Buy Any Domain ? << Click Here >> for more details...
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
- 10 Answers
- 69878 Views
- ICICI, State Bank Of India SBI, Toshiba, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
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 |
Tell me what is an over accrual?
what is opening stock formula?
What was the most difficult deal you had to close?
What is the journal and payment entry of P.F and E.S.I
21 Answers ABC, Chartered Accountant, IBM, Kohinoor,
how to account the purchase and sale of fixed assets?
Cash in hand-5000,Cash at bank-4000, Bill receivable- 3000,Bills payable-5000,Bank loan-6000.Calculate total liability of the firm?
Give ONE reason for Balance Sheet to be out of balance
what is a difference between Sale as per return or sale as per book.. please explane it..
Scheme is given by a company to his distributors on sale of goods, what is the treatment of this scheme distributors hand Direct income or indirect income
What is the diffrence between General Exp. & Misc. Exp?
What is accounting period?
why profit is a liability and loss is an asset?
Audit 
