Tag: elements of book keeping and accountancy
Questions Related to elements of book keeping and accountancy
Interest on capital is credited to ___________ account.
A sale of goods of vidhya for cash should be debited to ______________.
The accounting entries which appear on both the sides of cash book are called journal entries.
Cash discount does not appear in the books of accounts.
A closing entry of sales account, which appears on the credit side of trial balance is as under _________________.
When the claim on account of loss of stock is partly accepted by the insurance company, the journal entry will be _________________________.
When the claim on account of loss of stock is fully recoverable from the insurance company, the journal entry will be ______________________.
What will be the necessary adjusting closing entry for the following adjustment as on $31^{st}$ March, $2005$. Insurance paid $Rs. 4,000$ (including premium of $Rs. 3,000$ per annum paid upto $30^{th}$ June, $2005$________________________.
In certain jobs, for example, hotels farms, hospitals, the employees are given the facility of residing in a house free of rent or they are given meals or clothes, water etc. A transfer of the proportionate amount is essential to salaries or wages account. Entry for this is ________________.
Goods worth Rs. $10,000$ were purchased by B on which the traders allowed Rs. $500$ trade discount and offer to give $5\%$ cash discount if immediate payment is made. The Purchase A/c will be debited by _________.