Journal Entry Question

by Aekeshra
(Delhi, India)

India Gate, Delhi<br>(national monument)

India Gate, Delhi
(national monument)

Q: What's the entries for the following:

1 - Business started with cash 8,000 and plant & machinery 3,000.
2 - Stock purchase for sale (cash purchase)= 3,000, credit purchase = 5,000
3 - Wages paid 120,000(including 20,000 of future year).
4 - Salary paid 200,000 but due 110,000.
5 - Sale made for cash 600,000 & on credit 800,000.
6 - Depreciation 10 percent on plant & machinery.
7 - Goods costing 20,000 destroyed by fire.
8 - Payment made to creditor of 200,000 at 10 percent discount.

Comments for Journal Entry Question

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please answer
by: Anonymous

1).received cash from rupal bros. by check rs.780 in full statement of his account of rs.800.

2).interest allowed on capital rs.1500.

3).paid rs.582 in cash to poonam discount received being 3%.

4).income-tax rs.2500 and life insurance premium rs.250 paid by cheque.

5).depreciation charged on furniture rs.500.

6).carriage and freight charges paid on new machinery purchased rs.1500.

7).interest due on loan @8.5%p.a on rs.15000 for one year.

8).good given to prime ministers relies fund rs.1500.

9).interest charged on drawings @2.5% on rs.2200

Journal entry
by: Sam

Purchase a horse for Rs. 8000 and paid carriage charges Rs. 200

by: Awaluddin

What would be the journal entry if the sale price is 1,200? Credit term is 60 days.

journal entry
by: manish kothari

1. cash a/c 8,000
plant and machinery a/c 3,000
n capital a/c 11,000

2. purchase a/c 8,000
cash a/c 3,000
creditors a/c 5,000

3. wages a/c 100,000
wages for the year a/c 20,000
cash a/c 120,000

4. salary a/c 200,000
cash a/c 90,000
credit a/c 110,000

5. cash a/c 600,000
creditors a/c 800,000
sale a/c 1,400,000

6. depreciation a/c 300
cash a/c 300

8. creditors a/c 200,000
cash a/c 180,000
dis a/c 20,000

by: Anonymous

Depreciation is 10% on plant & machinery.

by: avinash kumar


CASH A/C.................. 8000
PLANT & MACHINERY......... 3000
TO CAPITAL A/C........ 11000


Journal Entry
by: Anonymous

Bought goods on credit from Halimah 291000, Sharifah 94000

What is the journal entry for?
by: Deepak Jain

Q: Bought a horse for Rs. 1500 and a cart for Rs.2000 for delivering goods to the customers.

A: Horse 1500
Cart 2000
Cash 3500


Please reply fast
by: deepak jain

Q: What is the entry for a check amounting to Rs.500 deposited in the bank was returned dishonored.

A: Debtor 500
Bank Account 500


very interersting
by: Anonymous

thanks for the basic knowledge

a journal entry of the question
by: Anonymous

what is j.e. for sale of goods rs. 10000 in cash discount 10%? what will be j.e. for furniture (historical cost rs. 5000) sold for rs. 35000. accumulated depreciation rs. 20000.

Correction of Error
by: Anonymous

Cash sales for $6720 had been correctly recorded in the cash book but debited to the purchases account as $7800

Journal Entry - Cash Downpayment Plus Balance Owing
by: Anonymous

Acquired office equipment from Tower company for $6,200. Made a cash downpayment of $1,500. Balance to be paid within 30 days...?

So this is basically two transactions in one - part cash and part credit.

When we purchase the office equipment we record the following:

Dr Office equipment (asset) $6,200
Cr Bank/cash $1,500
Cr Creditors (liability) $4,700 ($6,200 - $1,500)

This means we are recording the full value of the office equipment asset in our records when we buy it. And we record the amount paid in cash and the amount owing (creditors).

When we pay off the balance owing we record:

Dr Creditors (liability) $4,700
Cr Bank/cash $4,700

We are thus cancelling out the debt owing and recording that this was paid through bank/cash decreasing.

Hope that makes sense. All the best!
Michael Celender

Journal Entry
by: Anonymous

1. Services rendered to clients that had been paid for adnce and had yet to be treated as revenue is rs 780... Plz help me friend.

by: Anonymous

How to make separate journal entries for:

Purchased merchandise on June 10 from a company, FOB shipping point, terms 2/10, n/30 and paid freight cost of $400 on June 11.

Damaged goods totaling $300 are returned for credit on June 12. The fair value of these goods is $70.

On June 19, the company pays the debt in full less the purchase discount.

Both companies use perpetual inventory systems.

by: vishal

Virender sold to suresh Rs. 1000

Dr Bank 1000
Cr Sale 1000

(Michael Celender)

Digital Asset Subscription Entry
by: Anonymous

Hello I am a Graphic Designer and I keep my own books. I have a digital subscription for digital assets that may be used in a project for clients.

Do I put this expense in as a Subscription, Supplies or another category?

Hi graphic designer,

If you pay on a monthly or other regular basis for the subscription then you would probably just count it as an expense as it is simply a regular cost of doing business.

If you paid a lump sum upfront for the digital asset subscription and it will give your business lasting benefits into the future then you could classify this as an asset.

However, if you paid a lump sum upfront and do not see it providing lasting benefits into the future then you would classify it as an expense.

I would recommend to classify it as expense (if you can) as this would then be tax-deductible and could save you a bit on tax.

Michael Celender

4. Salary paid 200,000 but due 110,000.
by: Suman Mridha

Salary a/c DR.---310,000
Cash a/c CR.---200,000
Outstanding salary a/c CR.---110,000

by: Anonymous

1 - Business started with cash 8,000 and plant & machinery 3,000.
Dr Cash 8,000
Dr Machinery 3,000
Cr Capital 11,000

2 - Stock purchase for sale (cash purchase)=
Dr Purchase
Cr Cash

2 - Credit purchase = 5,000
Dr Purchase 5,000
Cr Creditor 5,000

3 - Wages paid 120,000 (including 20,000 of
future year).
Dr Wages 100,000
Dr Prepayment (asset) 20,000
Cr Bank 120,000

4 - Salary paid 200,000 but due 110,000.
Dr Salary 110,000
Dr Prepayment 90,000
Cr Bank 200,000

5 - Sale made for cash 600,000 & on credit 800,000.
Dr Cash 600,000
Cr Sales 600,000

Dr Debtor 800,000
Cr Sales 800,000

6 - Depreciation 10 percent on plant & machinery.

7 - Goods costing 20,000 destroyed by fire.

8 - Payment made to creditor of 200,000 at 10
percent discount.
Dr Creditor 200,000
Cr Bank 180,000
Cr Discount received 20,000

by: Rahul Goel

What is the journal entry if..
1-A person started a business for Rs.100000 by borrowing money from MR X. at a interest of 10% p.a.

2-He purchased machinery for business by investing money from his own pocket, not using money of business...

Plss anyone...rply soon....

Dr Bank 100000
Cr Loan (liability) 100000

Dr Machinery ___
Cr Capital ___

(Michael Celender)

Journal Question
by: mohiuddin

Sale to X rs 8000, discount allowed 200. He paid rs 4000 via cheque & cash 3800...

Dr Bank 7800 (cheque + cash)
Dr Discount Allowed (expense) 200
Cr Sale 8000

(Michael Celender)

journal entry of salary due 110000 and paid 200000
by: shyam

salary a/c dr. 110000
advance salary a/c dr. 90000
to cash a/c 200000

Salary Entry
by: Asif Zahoor (Gujranwala Pakistan)

Total Salary Payable 310,000 less paid 200,000 and Balance 110,000 Due.

Journal (Double Entry)
Salary A/C Debit :310,000
Cash A/C Credit:200,000
Salary A/C Credit:110,000 (Liabilities)

Journal Entry
by: Krishna

1.Cash a/c Dr. 8000
P & M a/c Dr. 3000
To Capital a/c. 11000
2.Purchase a/c Dr. 8000
To Cash 3000
To Creditors. 5000
3.Wages a/c Dr. 100000
Adv. Wages Dr. 20000
To Cash. 120000
4.Salary a/c Dr. 310000
To Cash. 200000
To O/S. 110000
5.Cash a/c Dr. 600000
Debtors a/c Dr.800000
To Sales. 1400000

7 - Goods costing 20,000 destroyed by fire.
by: Anonymous

7 - Goods costing 20,000 destroyed by fire.

Loss by Fire a/c Dr, 20,000
To Purchase a/c 20,000

(For goods destroyed by fire)

1st entry
by: Aadish jain

Cash A/c Dr. 8000
Plant and Machinery A/c Dr 3000
To CapitalA/c 11000

2- purchases
by: boby

purchases A/C Dr. rs. 5000/
To ,cash A/C. / rs.5000
purchases A/C Dr. rs.3000/
To,creditors A/C / rs.3000

by: Utsav

cash a/c dr. 600,000
debtors a/c dr. 800,000

to sales a/c cr. 1,400,000

8- creditors entry
by: utsav

creditors a/c dr. 200,000

to cash a/c 180,000
to discount received a/c 20,000

Journal Entry
by: Sumit

1.Cash A/c Dr
Plant & Machinry A/c dr
to Capital A/c

3.Salary A/c

to Employee(Current Liblity)
to O/S salary

Employee dr.
to Cash cr.

3.Loss by Fire A/c
to Purchase A/c

entry for salary
by: shishma

salary a/c Dr. 110,000
Salary in advance a/c Dr. 90,000
To cash 200,000

journal entry of salary
by: Anonymous

Salary a/c dr 310,000
. To cash a/c 200,000
. To outstanding salary a/c 110,000

by: Anonymous

1. Cash A/c Dr 8000
Plant and machinery A/c Dr 3000
To capital A/c 11000

2. Purchases A/c Dr 8000
To Cash A/c 3000
To Creditors A/c 5000

3. Wages A/c Dr 100000
Advance Wages A/c Dr 20000
To Cash A/c 120000

Salary Entry
by: Anonymous

Dr. Salary - 9,000
Dr. Advance salary - 110,000
Cr. Cash - 200,000

by: Anonymous

salary A/c....Dr 200000
To cash A/c 90000
To salary A/c 110000
(Being salary paid but due)

journal entry
by: Anonymous

what will the journal entry for Salary paid 200,000 but due 110,000.

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