paid rs 60.000 cash on the purchase of equipment costing
80.000 the remaining amount payable with interest rate of 9%.
what is the journal enry
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Answer / nagarjuna
EQUIPMENT A/C DR RS.80,000
TO CASH A/C RS.60,000
TO PARTY A/C RS.20,000
(BEING PURCHASE OF EQUIPMENT BY PAYING PART PAYMENT AND
BALANCE IS ON CREDIT)
PARTY A/C DR RS.20,000
INTEREST A/C DR RS. 1,800
TO CASH A/CCR RS. 21,800
(BEING OUT STANDING AMOUNT PAID WITH INTEREST@9% PA)
| Is This Answer Correct ? | 14 Yes | 1 No |
Answer / prakash behera
Equipment A/c Dr 80,000
To Bank A/c 60,000
To Supplier A/c 20,000
| Is This Answer Correct ? | 8 Yes | 1 No |
Answer / girish prajapat
equipment a/c Dr 80.000
To bank a/c 60.000
To creditor/party a/c 20.000
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / jitender jakhmola
Purchase A/c Dr. 81,800
To cash A/c 60,000
To cash with Int. 21,800
| Is This Answer Correct ? | 3 Yes | 2 No |
Answer / manish goel
Equipment A//C Dr. 80000
Interest A/C Dr. 1800
To cash A/C 60000
To cash With 9%Interest A/c 21800
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / sumit bhatia
debit whats comes in
Equipment A/C debit 80000
Debit all the loses and expenses
Interest A/C Debit 1800
Credit Whats Goes Out
Cash 81800
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / qasim ali
equipment A/C Dr 80000
Bank A/C Cr 60000
Payable A/c Cr 20000
| Is This Answer Correct ? | 1 Yes | 2 No |
Answer / gnm reddy
EQUIPMENT A/C Dr 80000
INTEREST A/C DR 1800
TO BANK A/C 60000
TO CREDITOR A/C 21800
| Is This Answer Correct ? | 0 Yes | 1 No |
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Trial balance as on 31st March, 2014 Particulars Debit Pula Particulars Credit Pula Wages 14 100 Dividends received 4 300 Salaries 13 000 Bank overdraft 41 000 Opening Stock 40 000 Returns 1 000 Machinery 49 000 Creditors 14 200 Investments 30 700 Sales 258 500 Drawings 23 000 Capital 30 000 Purchases 130 000 Returns 2 000 Debtors 18 000 Advertising 13 400 Interest 4 800 Cash 11 000 349 000 ======= 349 000 ======== Additional information: 1. Closing stock is valued at P53 000. 2. Wages include P350 being advance against wages. 3. Wages include P1 000 paid for erection of machinery. 4. A purchase of stationery for P430 has been inadvertently included in the Purchases account. 5. A sale of investments with a book value of P2 600 for P2 500 has been included in the Sales Account. 6. Salaries include P150 per month paid to the proprietor’s domestic servant. 7. Machinery is to be depreciated by 10 per cent. Required: a. The revenue statement (Trading and Profit and Loss Account) for the year ended 31st March 2014 and b. Statement of financial position (Balance Sheet) as on 31st March, 2014.
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