Question { IBM, 23025 }

Rent paid rs 2000 in Jan and feb 2009. What will the entry
in Feb 1st 2009.

Answer

Kamal ji according to u you are recived rent but not paid.
While answering anything think twice.My answer will be
Rent a/c Dr 2000
Rent Payable A/c 2000
To Cash/Bank 4000
(Being rent paid for the months of jan and Feb)
The question is not clear.Rent when paid is not cleared

Question { Genpact, 27914 }

Credit Purchase entry

Answer

Purchase account will be always debited.But the credit
entry will differ from occassion to occassion
1.If it is purchased on cash -Purchase Dr and Cash will be
credited
2.If it is purchased thru cheque Credit entry will be
replaced by Bank
3.If it is purchased on credit the credit entry will be
replaced by the suppliers name
If you keep all these things in mind it will be very easy
to transact any thing
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