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Answer Posted / satyaki_raju@yahoo.com
Accounting standards are issued by ICAI
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Truck # 3 has a list price of 16000. It is acquired in exchange for a computer system that company A caries in its inventory. The computer system cost 12000 and is normally sold by company A for 15200. Pass the journal for the same.
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Harpithas due Rs 55000 was settled infull by taking Haris due Rs 12500 in adjustment Pass necessary entry
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In order to comply with the matching principle, adjustment entries are made at the preparation of ----------
