Accountancy, asked by harshitagour2003, 9 months ago

Journal entry for: Bought machinery from mohan brothers of Kolkata 15000 and they paid carriage on our behalf.

Answers

Answered by veer212005

Answer:

The answer is in the explanation section.

Explanation:

Machinery A/c Dr. 15000

To Mohan Brothers A/c 15000

(Being machinery bought from Mohan Brothers)

There will be no account for carriage is it is part of the cost of Rs. 15000 which is incurred for the transportation of machinery and to bring it into function.

Hence, we apply cost concept over here which says that the installation and transportation charges of a fixed asset to bring it to a workable condition are added to that account itself and there is no separate account for it.

Hope the answer helps :).

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