Choose the right answer
When diesel supplied to the hired vehicle we have to credit
1.Diesel 2.Hire 3.Owner of the vehicle
Answer / parul
it will be debited to owner of the vehicle a/c. sequence of
the entries will be as follows:
1. hire vehicle rent a/c dr.
to owner of the vehicle a/c
(when vehicle hired)
2. owner of the vehicle a/c dr.
to hire vehicle rent a/c
(when diesel suppliedand)
3. hire vehicle rent a/c dr.
to cash/bank a/c
(when cash paid)
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Kindly solve the following problem. Financial accounting. 1. Bheema does not maintain his book in the double entry system . His books showed following facts. Receipts for the year ended 31.12.2007 from sundry Debtors 17625.00 Cash sales 4125.00 paid by bheema (proprietor) 2500.00 total 24250.00 payments made for the year ended 31.02.2007 new machinery purchased 625.00 drawings 1500.00 wages 6725.00 salaries 1125.00 interestpaid 75.00 telephone 125.00 Rent 1200.00 lighting 475.00 sundry expenses 2125.00 sundry creditors 7625.00 total 21600.00 Assets and Liabilities As on 31.12.2006 As at 31.12.2007 sundry creditors 2525.00 2400.00 sundry Debtors 3750.00 6125.00 Bank 625.00 ? stock 6250.00 3125.00 plant 7500.00 7315.00 from the Above data , prepare TRADING A/C, PROFFIT & LOSS A/C for the year ended 31st december 2007 and the BALANCE SHEET as on on that date. Kindly solve the problem
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