Pass necessary journal entries for the following.
1.Goods supplied by surjit for rs 15000 were entred in
sales book.
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Answer / madhukar nimbalkar
purchase a/c. dr
To supplier a/c. cr
| Is This Answer Correct ? | 14 Yes | 3 No |
Answer / padma
it seems that instead of recording goods recd from surjit,
is wrongly entered in sales books means our sales has
increased by 15000, it is also impertant to check wheather
we have noted the same in our purchase book, if not then
the journal entry will be
sales a/c dr 15000
purchase a/c dr 15000
To party a/c 30000
rectification entry
| Is This Answer Correct ? | 5 Yes | 1 No |
surjit a/c Dr. 15000/-
to sale A/c cr. 15000/-
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / javeed
date: particulars: amount rs/- amount rs/-
Dr. Cr.
sales a/c..Dr. 15000
to surjith a/c 15000
| Is This Answer Correct ? | 2 Yes | 0 No |
who is invented to accounting
Manoj & Mahavir joined a firm drawing salary of Rs 25000 per month.After serving 3 yrs ,they started business of their own in partnership,contributing Rs200000(expected life 10 yrs,bought spare parts worth Rs 33000 from Kundu on credit.Office supplies were purchased for cash.Initially they were very busy in conducting their business operations but by the end of the 1st year,31/12/2005 they were disappointed when they found their bank balances.Following is the summary of their bank statement. Receipts: Share Capital Rs 250000 Collections from Customers 412000 Payments: Equipment 200000 Salaries of Assistants 88000 Rent advance for 2 yrs 96000 On-year ins. Policy on equipment 12000 Office stationery 27000 Payment to Kundu 29000 Withdrawals of Manoj 90000 Withdrawals of Mahavir 90000 Closing balance c/d 30000 ----------- Total : 6,62,000 Still amount receivable from customers for services to them amounted to Rs 30,000 & closing balance of office stationery is Rs2000,spare parts Rs2600 were utilised by the end of the year .Prepare trial balance with the available information and show total. Also what is the net profit.
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If Sales is Rs 1000 (Inclusive of Vat), Vat Rate - 20%, What is Vat Payable?
Audit 
