Tag: illustrations on journal entries
Questions Related to illustrations on journal entries
One debit account and more than one credit account in a entry is called compound entry.
The amount brought in by the proprietor in the business should be credited to ____________.
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, $2005$________________________.