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JOURNAL ENTRIES QUESTIONS WITH SOLUTIONS

Solution for voucher entry problem

Journal Entry Question and Answer - accounting-basics-for
Journal Entries - Asset Transferred for Personal Use by: Sanjoy A company owner takes furniture from the company for own use - value of 8000. What is the journal? When you take an asset for personal use you are essentially taking it out of the business and making it part of your personal belongings.
Journal Entry Problems and Solutions | Accountancy Knowledge
Prepare general journal entries for the following transactions of a business called Pose for Pics in 2016: Aug. 1: Hashim Khan, the owner, invested Rs. 57,500 cash and Rs. 32,500 of photography equipment in the business. 04: Paid Rs. 3,000 cash for an insurance policy covering the next 24 months.
Journal - Problems and Solutions - Future Accountant
Problems and Solutions based on and for understanding Journal and related aspects in financial accounting.
Accounting Journal Entries — Practice Questions - dummies
When an accountant records journal entries for a business, he records these entries as debits and credits, and they must balance. Here are a couple of practice questions to help you hone your journal entry — and balancing — skills. Practice questions What is the journal entry to record a collection of $2,000 of outstanding []
Accounting Journal Entries – Accounting Questions and Answers
Journal entries include at least one debit entry and at least one credit entry. This method is called as the double entry recording system. Increases in debit accounts are recorded on the debit side of a journal entry.
Journal Entries Interview Questions and Answers - Learning
Journal Entries Interview Questions & Answers - Learning Mode The literal meaning of the journal is a record of day-to-day financial transactions.A journal entry, in accounting, is a logging of transaction into accounting journal items. The journal entry can consist of several recordings, each of which is either a
Easy4u2: Journal Entries Question & Answer
Journal Entries Question & Answer. Electricity Charges Paid at the end of April 1st month Rs. 4,000 & Telephone Charges Rs. 2,500 on the same date. Plant & Machinery purchased from Ramesh Agro & Sales Co. of Rs. 2, 50,000 & Made partial Payment of Cash Rs. 1, 00,000.
Journal Entries and Ledger Question and Answer
Journal Entries and Ledger Question and Answer. Q: Mr Robert commenced business on 1st January, 2011 with a capital of $100,000 in cash. On the same date he opened the bank account in ADCB and deposited $20,000. During the month of January 2011 the following transactions took place: Jan 1 Bought goods for cash 70,000
Adjusting Entries Problems and Solutions | Accountancy
At year end, unrecorded interest expense due to creditors was Rs. 4,000 (payable in the next year). Prepaid Insurance account began the year with a balance of Rs. 230. During the year, insurance in Wages are paid every Saturday for a five day work week (Mon – Fri; two days are unpaid and free). At year end, unrecorded interest receivable from the Government bonds is Rs. 1,700. Prepare the See all full list on accountancyknowledge
TS Grewal Solutions for Class 11 Accountancy Chapter 8
Jun 17, 2017Solution: Question 13. Give journal entries for the following transactions giving in each case the nature of account (whether asset, liability, capital, expenses or revenue) and the rule applicable: i. Ajit started business by investing cash Rs,00,000. He bought goods Author: Bhagya
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