Illustration 10
Following transactions took place between Abha & Nabha .Prepare Abha's A/c in the books of
Nabha and Nabha's A/c in the books of Abha.
2019
Sept. 1
Abha owed to Nabha 22,000.
3
Nabha received * 16,000 on account from Abha.
9 Abha bought goods from Nabha 5,000.
20 Abha paid to Nabha * 6,000 on account @5% cash discount.
25 Nabha received goods returned by Abha *550.
30 Abha paid * 1,500 to Nabha.
Answers
Explanation:
U can write the opposite entry in the book of Abha
Answer:
The total amount of money exchanged between Abha and Nabha was 29,050.
Explanation:
From the above question,
They have given :
Following transactions took place between Abha & Nabha .Prepare Abha's A/c in the books of Nabha and Nabha's A/c in the books of Abha.
Abha's A/c in the books of Nabha
Debit the receiver (Nabha) and credit the giver (Abha).
Particulars | Debit (Dr) | Credit (Cr)
Sept 1 | 22,000 |
Sept 3 | | 16,000
Sept 9 | 5,000 |
Sept 20 | | 5,900
Sept 25 | 550 |
Sept 30 | 1,500 |
Total | 29,050 | 16,000
When recording transactions between two parties, Abha and Nabha, the receiver (Nabha) should be debited and the giver (Abha) should be credited. This means that Abha’s account in Nabha’s books would show a debit of 29,050, while Nabha’s account in Abha’s books would show a credit of 29,050.
Nabha's A/c in the books of Abha
Particulars | Debit (Dr) | Credit (Cr)
Sept 1 | | 22,000
Sept 3 | 16,000 |
Sept 9 | | 5,000
Sept 20 | 5,900 |
Sept 25 | | 550
Sept 30 | | 1,500
Total | 16,000 | 29,050
In this example, Abha owed Nabha 22,000 on September 1, and Nabha received 16,000 from Abha on September 3. Abha purchased goods from Nabha for 5,000 on September 9, and Abha paid 6,000 to Nabha on September 20 with a 5% cash discount. Nabha received goods returned by Abha worth 550 on September 25, and Abha paid 1,500 to Nabha on September 30. The total amount of money exchanged between Abha and Nabha was 29,050.
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