Accountancy, asked by soumuatus9525, 11 months ago

On 1st April, 2015, Star Ltd. purchased 5 machines for 60,000 each. On 1st April, 2017. one of the machine was sold at a loss of 8,000.

Answers

Answered by nikitabalkar12
0

Answer:

1st April 2015

machinary alc .. Dr 300000

to cash alc 300000

1st April 2017

cash alc .. Dr 8000

loss alc .. dr 52000

to sales alc 60000

Answered by isyllus
0

Journal

Explanation:

we pass journal in this question

We know rules for journal

Increase in Asset Debit

Decrease in asset Credit

Loss is debit

  • Star Ltd. purchased 5 machines for 60,000 each.

Aspect 1. Machine is Increased and machine is asset and increase in asset means debit

Aspect 2. Cash is paid for machine purchased  so cash is decreased and cash is asset and Decrease in asset  is Credit

  • one of the machine was sold at a loss of 8,000.

Aspect 1. machine sold that means machine is decreased and  machine is asset and rule  for Decrease in asset  is Credit

Aspect 2. sold at machine at loss and loss is accountable Debit

Aspect 3. cash is increased due to sale of machine and cash is asset and

Increase in Asset  means Debit

Now we do journal

Date              Particulars                         LF            Dr.(Amount)      Cr.(Amount)

01.04.2015     Machine A/C    Dr.                                  300000

                              To Cash A/C                                                      300000

(Being   purchased 5 machines for 60,000 each.)

01.04.2017       Cash A/C       Dr.                          52000

                        Loss A/C        Dr.                          8000

                                 To Machine A/C                              60000

(Being  one of the machine was sold at a loss of 8,000.)

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