purchased computer through cheque 13000 what is the journal entry of this question
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computer a/c ....Dr 13000
To Bank a/c 13000
To Bank a/c 13000
mohdfaiz991802pc731a:
thank you so much
Answered by
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The Current transaction affects two accounts .. computer account, bank account.. because computer is bought for cash ...(they ar Real accounts; all assets and Liabilities come under Real account; computer and cash at bank are assets) ..
The Three golden rules of accounting are....
Personal Account: Debit the receiver, credit the giver
Nominal account: Debit All expenses and losses, credit All incomes and gains
Real Account: Debit what comes in ,credit what goes out
In contention with the above rules...
computer account should be debited (it is a Real ccount/furniture is coming ine)
bank account should be credited (it is a Real account/cash is Going out)
The Journal Entry will be....
computer a/c Dr 13000
To bank a/c. 13000
(Being computer purchased)
The Three golden rules of accounting are....
Personal Account: Debit the receiver, credit the giver
Nominal account: Debit All expenses and losses, credit All incomes and gains
Real Account: Debit what comes in ,credit what goes out
In contention with the above rules...
computer account should be debited (it is a Real ccount/furniture is coming ine)
bank account should be credited (it is a Real account/cash is Going out)
The Journal Entry will be....
computer a/c Dr 13000
To bank a/c. 13000
(Being computer purchased)
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