Question

write adjustment entries
(1)unpaid salary Rs.2000
(2)Depreciation on furniture Rs.5000 (3)interest received in advance is Rs.3000
(4)closing stock Rs.10,000​

Answer 1

Answer:

Explanation:

Journal Entries

• Salary a/c dr. 2,000

To Out standing salary a/c 2,000

( salary out standing )

• Profit & Loss a/c dr. 5,000

To depreciation to furniture a/c 5,000

( depreciation charged to furniture charged

to p &  L a/c )

• Depreciation a/c dr. 5,000

To furniture a/c 5,000

( Depreciation charged to

furniture account)

• Adjustment of closing stock

If it is given in trial balance , it will be shown on the asset side of balance sheet as an asset

If it is given in the adjustment , it will be shown on the credit side of trading account and asset side of balance sheet