Question

1)Rs. 500 paid for the repairing of machinery. Then in this case what will be the journal entry, will it increase the value of the assets or we have to open repairs a/c in journal and debit it? 2) Goods of Rs.900 destroyed in fire and it was uninsured. So what will be the jouranl entry? Is it Loss by firea/c debited to purchases account. Or will it be debited to purchases account??3) Brought a fan for Rs.1000. What will be the journal entry?4) Give all esxamples of sundry expenses.5) What are adjusted sales and what is its effect in journal entry?

Answer 1

1)journal entry will be 500
2)journal entry will be 900
3) journal entry will be 1000