Question

Q:3
Pass journal entries?
a) Cash deposited into Bank- Rs. 60,000
b) Salaries paid by cheque- Rs. 16000​

Answer 1

Answer:

a bank a/c. Dr. 60000

to cash a/c. 60000

b. salaries a/c dr. 16000

to bank a/c. 16000

cash goes out from company to bank

bank balance increase and cash balance decease

by golden rule

debit the receiver credit the giver

salary is paid so it is an expense

by golden rule

debit all expenses and loss credit all income and gain

salary is related to nominal so we are using this rule

it is paid by cheque so to bank

if it is paid by cash thn to cash