What will be journal entry of cost of goods sold.

Answer Posted / gowda

Cash A/c Dr
TO Goods a/c

Cash:real A/c debit wt comes in
goods: also a real a/c hence credit wt goes out.

Is This Answer Correct ?    2 Yes 1 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

How calculate holding company account?

1638


what is the relationship between bookkeeping and accounting?

616


April-25 Paid to Mr. Y in full Settlement by Cheque Rs. 4800. April-26 Received a cheque from Mr. B in full settlement Rs. 4900.

2700


Tell us what is icai?

646


entry for cash received from debtors

1145






How Can We Justify the,Real A/C & Nominal A/C?

1789


Please answer me for the followings 1. i taken an office on January @ rent 28000.00 for one year and i paid 14000.00 as first payment balance will be paid on august. in tally how we post this and under which account especially balance 14000.0 under which account. 2.i have taken a loan from mr. A the amount is 100000.00 on January and the interest i need to pay on march 21000.00 the interest which iam going to pay is liability not a expense and it will be a expense in future, how we can post this also in tally and under which account. please somebody guide me who knows regards niyas es

1373


What is entry of Dishonored cheque issued to supplier

885


Time limit for payment of divident for listed limited companies & Unlisted public limited companies are? 30 or 45 or 60 or 90

2044


What do you mean by balancing of ledger account?

569


What is ppe in accounting?

627


The Tabula Manufacturing Company has been in business for one month. At the end of month the company had the following accounts: Materials used K 5 000.00 Direct labour 10 000.00 Indirect labour 3 000.00 Indirect materials 2 000.00 Labour fringe benefits 1 000.00 Supervisor’s salary 1 000.00 Depreciation Machinery 2 000.00 Miscellaneous factory overhead 1 000.00 Heat and light 500.00 Insurance on plant 1 500.00 The company processed two jobs during the month with costs as follows: Job 101 Job 102 Materials cost K3 000.00 K2 000.00 Direct labour cost K6 000.00 K4 000.00 Direct labour hours 4 000.00 3 000.00 Machine hours 2 000.00 1 000.00 The company does not use a predetermined rate for factory overhead. The rate is computed at the end of each month. Required Use both the direct labour hours and machine hours to compute: 1) The overhead rates for the month (5 pts) 2) The overhead cost for each job (5pts) 3) The total cost for each job (10 pts) 4) Briefly describe the difference between Job order and process costing, citing relevant examples (5 pts).

1701


BRIEF IN DETAIL REGARDING RATIOS

1490


What are the various systems of accounting? Explain them.

601


What is the double entry system explain its rules with examples?

631