Question

Q2. Write Journal Entries for the the following transaction [5M] Business started with cash 8,000 and plant & machinery 3,000. 2 - Stock purchase for sale (cash purchase) = 3,000, credit purchase = 5,000 3 - Wages paid 120,000 (including 20,000 relating to a future year). 4 - Salaries paid 200,000 but due 110,000. 5 - Sales made for cash 600,000 and on credit 800,000. 6 - Depreciation 10 percent on plant & machinery. 7 - Goods costing 20,000 destroyed by fire. 8 - Payment made to creditors to the value of 200,000 at 10 percent discount.​

Answer 1

Answer:

Cash a/c dr.

To Capital A/c

Machinery a/c dr.

To Capital a/c

Purchase a/c dr.

To Cash a/c

Purchase a/c dr.

To mr.x a/c

Explanation:

plz put the amount in front of the entries