sold private car for rs 4,000 and bought a new one with
proceeds for bussiess plus rs 5.000 from office cash
what will be the journal entry
Answer Posted / poshalu
carA\c - 5000
To private car - 4000
To cash 1000
(being the new car purchase & Private car sold Rs.4000 &
cash paid Rs.1000)
| Is This Answer Correct ? | 0 Yes | 11 No |
Post New Answer View All Answers
What are the advantages of computer accounting over paper accounting?
What is an interest rate swap
What is band and why the company needs this?
How to post salary advance transfer from one branch to another branch ?
What does a demo/presentation need to be effective?
A firm had the following Balances on 1 January 1994: (i) Provision for bad and doubtful debts Rs 2,500 (ii) Provision for discounts on debtors Rs 1,200 (iii) Provision for discounts on creditors Rs 1,000 During the year, bad debts amounted to Rs 2,000, discounts allowed were Rs 100 and discounts received were Rs 200. During 1995 bad debts amounting to Rs l,000 were written off while discounts allowed and received were Rs 2,000 and Rs 5,000 respectively. Total debtors on 31 December, 1995 were Rs 48,000 before writing off bad debts, but after allowing discounts. On 31 December, 1995, this amount was Rs 19,000 after writing off the bad debts, but before allowing discounts. Total creditors on these two dates were Rs 20,000 and Rs 25,000 respectively. It is the firm’s policy to maintain a provision of 5% against bad and doubtful debts and 2% for discount on debtors and a provisions of 3% for discount on creditors. Show the accounts relating to provisions on debtors and provisions on creditors for the year 1994 and 1995.
Recall a time when you faced a dissatisfied and aggressive customer. How did you handle it?
Tell me do you think there is any difference between inactive and dormant accounts?
explain me what steps would you take to increase revenue for this company?
Sir, I want to know about Entry Tax. I purchased the Packing Box from other state.the entry tax on the packing items is 5 %.but now sale tax deptt. close the entry tax on barrier. the tax will be deposited with return. sir we want to know can i deposit this entry taxon on CST challan or not. if not then how can i deposit, or which cloumn in return shown this amount. please send the return format my mail ID is happynlg@gmail.com
what's the difference between impress cash account and petty cash account
In which book we can learn in detail of closing stock valuation. And if any site is available kindly help.
What is Provision Entry
I m entering much more than 500-700 sales vouchers per month. But I m getting a problem while entering sale voucher is that If I have entered a sale voucher in the middle of a date then the voucher no is being changed. So how can enter a sale voucher in the middle of a date so that i can adjust the voucher nos from changing.
for giving the salary in terms of cash to an employee for what minimum amount revenue stamp is reqired to paste the vouceher? up to what limited revenue stamp is required?