Question

Received 27,000 from Subhash in full settlement
Paid wages 600 and salaries 1.500.
Purchased a machine from Kartik for 600 on credit
Provide depreciation on building at 10% per annum.​

Answer 1

Explanation:

cash/bank acc dr 27k

to subhash acc 27k

wages acc dr600

to cash/bank acc 600

salaries acc dr1500

to cash/bank acc 1500

machinery acc dr600

to kartik acc 600

depreciation acc dr

to building acc