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Step-by-step explanation:
What is the journal entry for “paid to Ram” on an account?
What is the best way to expand your professional network?
Context: I have built networks over the years in academia, the hedge fund space, and Silicon Valley and now working on Lunchclub,
I’m not sure what “paid to Ram” on an account but your entry depends on whether you are using The Cash Accounting Systen or The Accruals System of Accounting, per IFRS which is the international accounting standards that govern how accounts are created so that they are similar worldwide.
if you paid something “on an Account” sounds like you have an outstanding liability or debt and you made a payment to reduce or clear that liability. Before we continue, I’ll assime you are using the Accruals System of Accounting.
You have not provided enough information but I will present a couple scenarios:
So on your General Ledgers, the following entry should exist that recorded the initial liability.
say for example Ram is a vendor that you use to supply you with Inventory, with office supplies or with a fixed Asset, the entries for these scenarios would be:
Inventory
Dr Inventory
Cr Accounts Payable G/L (Sub Ledger Vendor Account “Ram”)
*This assumes Ram is a vendor.
Dr Office Supplies Expense
Cr Accounts Payable G/L (Sub Ledger Vendor Account “Ram”)
Fixed Assets
Dr Fixed Asset Account
Cr Accounts Payable G/L (Sub Ledger Vendor Account “Ram”)
*You should also depreciate the asset per the company’s depreciation policy at the same time whether
you realise depreciation monthly or yearly; if its annually, you will depreciate for a full year in the first year even if you have purchased an assed part-way through the year.
Remember we are assuming that the entries above are already done in your accounts
CASH ACCOUNTING
To récord the transaction that you queried, which is a payment on Account to Ram, the following should be the entry that is to be made based on the above scenarios. The same entry is applicable in all scenarios and again this assumes “Ram” is a vendor.
Inventory, Office Supplies and Fixed Assets:
If the company uses the Cash system of accounts, there won’t be any existing entries in your general ledgers relating to when you initially made the purchase on account from the vendor ; however, when you make the payment on account, you have officially realised an expense and the the entry is a Dr to Inventory, Office Supplies and Fixed Assets (Whatever “Ram” is) and Cr to Cash (Bank).
Answer:
¹⁰¹/₂₄ = 4 ⁵/₂₄
Step-by-step explanation:
4 ²/₃ - 2 ⁵/₆ - 3 ¹/₂ + 5 ⁷/₈
= ¹⁴/₃ - ¹⁷/₆ - ⁷/₂ + ⁴⁷/₈
= LCM of 3, 6, 2, 8 = 24
¹⁴/₃ ˣ 8 = ¹¹²/₂₄
¹⁷/₆ ˣ 4 = ⁶⁸/₂₄
⁷/₂ ˣ 12 = ⁸⁴/₂₄
⁴⁷/₈ ˣ 3 = ¹⁴¹/₂₄
¹¹²/₂₄ - ⁶⁸/₂₄ - ⁸⁴/₂₄ + ¹⁴¹/₂₄
= ¹¹² ⁻ ⁶⁸ ⁻ ⁸⁴/₂₄
= ⁻⁴⁰/₂₄ + ¹⁴¹/₂₄
= ¹⁰¹/₂₄ = 4 ⁵/₂₄
You can further bring it to its lowest form.
(pls mark me as brainliest)