Question

2. Bought goods from Sonam for Rs.60,000 for cash and paid carriage charges Rs.1000.Purchases account will be debited with Rs.____________ *

Answer 1

Answer:

Mark as brainliest!!!!

Explanation:

Given"Purchased Goods for 60000 and paid 2000 for carriage "

This transaction affects 3 accounts... Purchases a/c (we are purchasing it) , cash a/c(We are paying) , carriage inward (carriage inward means transportation charges paid while Purchasing Goods)

Where Purchases and carriage inward are Nominal accounts (All expenses incomes gains losses come under it) and Cash is Real Accounts(all the assets and liabilities come under it)..

The Three golden rules of accounting are

Personal account - Debit the receiver, credit the giver

Real account- Debit what comes in , credit what goes out

Nominal account - Debit All expenses and losses,credit All incomes and gains..

As per the above rules , Purchases and carriage inward are expenses,they should be debited whereas cash is going out , should be credited to that extent....

The Journal Entry is

Purchases a/c Dr 60000

carriage inward a/c 2000

To Cash a/c 60000

(Being goods Purchased and carriage paid)