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
Answer Posted / 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 |
Post New Answer View All Answers
What is definition of a cash float in accounting?
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).
What does the abbreviation dr mean in accounting?
goods worth rupees 440 distributes free among the poor?
i have selected jr. accountant/ auditor in ssc graduate level 2008 scheme b. but i have not yet received deptt. memo and also appointment letter. when it will be come??? how much time???
How will service tax & excise be charged?
what is the primary of for-profit organisation
Received Invoice from Tvs Co. against purchase of 15 pcs of Mouse @ 750 excluding VAT 4%, Pass journal entry in the necessary books of accounts?
WHETHER WE CAN BOOK ALL PRELIMINARY EXPENSES, INCLUDING ACCESSORIES RELATED TO PURCHASE OF A NEW VEHICLE TO CAPITAL EXPENDITURE?
service tax calculated on agreement value or market value whichver is higher for builders?
what is "goodwill" reserve and surplus and reserve with example
In South Africa, the value added tax is administered by?
what is the responsiblities for accounts manager?
What is the entry to be passed on receiving the tds certificate in the books of the deductee?
how we can calculate sundry debtors and crditors a/c?show some examples