What will be the Journal entry for these transaction-
Sold goods costing Rs.20,000 for Rs.30,000 on cash

Answer Posted / suraj

Cash a/c 30000
To, sales a/c 20000
To, P/L a/c 10000

Is This Answer Correct ?    93 Yes 24 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

What is the difference between inactive accounts and dormant account?

699


sir i want to know that where we taken entry of sals return in excise in manufecturing unit tell me .

1679


What are the fictitious assets?

660


I post Optional Voucher in Tally.ERP in which there is deduction of TDS is applied. But when I convert this voucher as regular voucher the TDS entry have to make again why so

1596


Define fictitious assets?

789






Do you know executive accounting?

631


Explain what is gaap?

613


What is cotangent Account?

1561


Mention why some asset accounts have a credit balance?

646


what is ment by suspence account and dummy account

1570


what is profitability ratio and dividend policy ratio

1491


please advice example of any single journal entry which include all 3 accounts i.e personal, real & Nominal a/c.

1825


Is it mandatory for the employees staff of a School, if so give details

1576


Is an "account receivable" and "goodwill" real accounts in accounting?

593


What is batch input? why we use batch input session in SAP(FICO)?

4871