Journal entry
This query is : Resolved
10 June 2017
Please tell what the journal entry of the following transactions will be in the books of Ashoka Furniture Traders:
January 31: Sold furniture to Rakesh on the list price of Rs. 10,000 and allowed him 10% Trade Discount.
January 31: Old furniture valued at Rs. 500 was taken from Rakesh in Exchange.
January 31: Sold furniture to Rakesh on the list price of Rs. 10,000 and allowed him 10% Trade Discount.
January 31: Old furniture valued at Rs. 500 was taken from Rakesh in Exchange.
10 June 2017
For first transaction
Dr: Rakesh Rs. 9000
Dr: Discount Rs.1000
Cr: Sale of furniture a/c 10000
For 2nd transaction
Dr: Purchase of furniture a/c Rs.500
Cr: Rakesh A/c Rs.500
Dr: Rakesh Rs. 9000
Dr: Discount Rs.1000
Cr: Sale of furniture a/c 10000
For 2nd transaction
Dr: Purchase of furniture a/c Rs.500
Cr: Rakesh A/c Rs.500
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Cgst asmt - 10
- RELATED TO ITR OF POLITICAL PARTY
- CAN a GSTIN registered under rule 14A opt for composition scheme without withdrawal from rule 14A ??
- Charity work ISD
- PTEC-payment
- How to file form ITR-B Detailes manner as per rule 12AE income tax rules,1962
- Reduce fine on my company
- Delisted shares
- Account records AI tool maintained question
- APPEAL-INCOME TAX
- Debit note in Gst
- Fy 22-23 --> tyed more in gst 3b vs 2b, any interest?
- INCOME TAX QUERY FY25-26()\
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- GST ON PERSONAL MOTORCAR SOLD
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- B2B Amendment
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
