Question

Pass journal entry of stock of goods -45000

Answer 1

Given "Stock of Goods Purchased/Sold" 45000

This transaction affects 2 accounts Cash/creditor account and sales/Purchases account..


If the transaction is Purchases made on cash..then the Journal Entry will be

Purchases a/c Dr 45000

To Cash a/c. 45000

(Being Goods Purchased)


If the transaction is Purchases made on credit then the Journal Entry will be

Purchases a/c Dr 45000

To creditors a/c. 45000

(Being Goods Purchased on credit)


If the transaction is sales made on cash then the Journal Entry will be

Cash a/c Dr 45000

To Sales a/c 45000

(Being sales made on cash)


If the transaction is sales made on credit then the Journal Entry will be

Debtor's a/c Dr 45000

To sales a/c. 45000

(Being sales made on credit)