Question

Give journal entries for the following adjustments in final accounts.
1.salaries 5000are outstanding.
2.insurance amounting to 2000 is paid in advance.
3.4000 for rent have been received in advance
4.Commission earned but not received 1000.
5.Interest on capital 1500
6.Interest on drawing 300
7.Write off 2000 as further bad debts.
8. Closing stock 3000

Answer 1

Hey...

U r answer...

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єffєctѕ σf jσurnαl єntríєѕ.❗

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★️ 1. ᴀᴅᴅ ɪɴᴛᴏ sᴀʟᴀʀɪᴇs..

2.ʟɪᴀʙɪʟɪᴛʏ sɪᴅᴇ ᴏғ ʙᴀʟᴀɴᴄᴇ sʜᴇᴇᴛ.


★1.ʟᴇss ғʀᴏᴍ ɪɴᴄᴏᴍᴇ

2. ᴀssᴇᴛ sɪᴅᴇ ᴏғ ʙᴀʟᴀɴᴄᴇ sʜᴇᴇᴛ

( ᴘʀᴇᴘᴀɪᴅ ɪɴᴄᴏᴍᴇ )


★️1.ʟᴇss ғʀᴏᴍ ʀᴇɴᴛ

2.ʟɪᴀʙɪʟɪᴛʏ sɪᴅᴇ ᴏғ ʙᴀʟᴀɴᴄᴇ sʜᴇᴇᴛ

★1.ᴀssᴇᴛ sɪᴅᴇ ᴏғ ʙᴀʟᴀɴᴄᴇ sʜᴇᴇᴛ.



★️ 1.ᴀᴅᴅ ɪɴᴛᴏ ᴄᴀᴘɪᴛᴀʟ

2.ᴄʀ sɪᴅᴇ ᴏғ ᴘʀᴏғɪᴛ ᴀɴᴅ ʟᴏss ᴀᴄ



★1. ᴅʀ sɪᴅᴇ ᴏғ ᴘʀᴏғɪᴛ ᴀɴᴅ ʟᴏss ᴀᴄ.

2. ʟᴇss ғʀᴏᴍ ᴄᴀᴘɪᴛᴀʟ


★1.ʟᴇss ғʀᴏᴍ ᴅᴇʙᴛᴏʀ



★1.ᴄʀ sɪᴅᴇ ᴏғ ᴛʀᴀᴅɪɴɢ ᴀᴄᴄᴏᴜɴᴛ

2.ᴀssᴇᴛ sɪᴅᴇ ᴏғ ʙᴀʟɴᴄᴇ sʜᴇᴇᴛ.

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ʀᴇɢᴀʀᴅs

@lava90..☺️✌️