Question

Pass journal Entries in the books of Lalith& C0., a. Salary Outstanding Rs.12,000; b. Depreciation at 5% on Machinery worth Rs.70,000; c. Closing Stock Rs.14,000; d. Pre-received commission Rs.9,000.

Answer 1

Answer:

salary AC...... Dr 12,000

to outstanding salary AC 12,000

depreciation AC..... Dr 3,500

to machinery AC 3,500

closing stock AC..... Dr 14,000

to trading AC 14,000

cash AC..... dr. 9,000

to commission received in advance AC 9,000