Question

journal entry : purchased goods from shyam​

Answer 1

Explanation:

the following entry passed assuming purchase of goods from Shyam on credit basis-

Purchase of Goods A/C - Dr

To Shyam A/C

(Being Goods purchased from Shyam of Rs…)

here purchase of goods A/c goes directly in Stat. of P/L as an expenditure and Shyam A/c in Balance Sheet under the head creditor.

If purchased on Cash basis then following entry will be passed

Purchase of Goods A/C - Dr

To Cash A/C

(Being Goods purchased in cash of Rs…)

here purchase of goods A/c goes directly in Stat. of P/L as an expenditure and Cash A/c reduced from Cash and bank balance head in Balance sheet .

Answer 2

Explanation:

Here purchase of goods A/c goes directly in Stat. of P/L as an expenditure and Shyam A/c in Balance Sheet under the head creditor. here purchase of goods A/c goes directly in Stat. of P/L as an expenditure and Cash A/c reduced from Cash and bank balance head in Balance sheet .

MARK ME AS BRAINLIEST...

FOLLOW ME...