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Mac Purchased on 15th Jan 12000/-
30th June Machinery damaged due to Fire Accident
31st Dec received the Insurance Premium 13000/-.
Pass the Journal Entry for all the above three
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Answer Posted / dspsaradi
15TH JAN DEBIT CREDIT
MACHINARY A/C 12000/-
TO CASH/CREDITOR A/C 12000/-
30TH JUNE
INSURANCE PREMIUM CLAIM A/C 12000/-
TO MACHINARY A/C 12000/-
31ST DEC
CASH / BANK A/C 13000/-
TO INSURANCE PREMIUM CLAIM A/C 12000/-
TO OTHER INCOME 1000/-
| Is This Answer Correct ? | 17 Yes | 1 No |
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3. You are required to show the effect of each of the following changes on profit and Break-Even-Volume from the information given below: Sales 50,000 units Rs. 5.00 per unit Variable cost Rs. 3.00 per unit Fixed cost Rs. 70,000 Changes: (i) Price changes by 20%. (ii) Volume decreases to 40,000 units. (iii) Variable cost increases to Rs 3.50 per unit. (iv) Fixed cost decreases by 10%.
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