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can anyone give the journal entry with the amount
10 tv bought in the business for 1000 each, out of which
one is installed.
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Answer Posted / santosh kumar pattanaik
It is a nature of trading business, In that we have
installed one TV.Electronic items like TV, Washing
Machines, Refrigerator, etc., and TV, Washing machines,
Refrigerator are sub-head of accounts under the main head
of account purchases.
So first we have to pass the entry.
TV a/c Dr. 10000
To Cash/Vendor A/c 10000
(Being cost of TV qty 10 nos@ 1000/- vide Invoice/Cash Memo
No._________)
Second entry we have to pass.
Office Equipment a/c Dr. 1000
To TV a/c 1000
(Being installed tv qty. 1 No. in office for Business
Development)
Now your stock will be shown 9 TV.
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