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    Assignment On Journal Entries

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    Rishita Tandon
    From the transactions of M/s Singh & Co: - Various asset and liability accounts were opened on January 1 for cash, bank, stock, machinery, furniture, and amounts due from/to other parties. - Throughout January, the company purchased and sold goods on credit and for cash, paid and received amounts from other parties, borrowed money and paid expenses like taxes, advertisements, rent, and salaries. - On January 31, an old bad debt was recovered, new furniture was purchased, and the insolvency of a party was noted along with the receipt of a dividend.

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    Assignment On Journal Entries

    Uploaded by

    Rishita Tandon
    22 views1 page
    From the transactions of M/s Singh & Co: - Various asset and liability accounts were opened on January 1 for cash, bank, stock, machinery, furniture, and amounts due from/to other parties. - Throughout January, the company purchased and sold goods on credit and for cash, paid and received amounts from other parties, borrowed money and paid expenses like taxes, advertisements, rent, and salaries. - On January 31, an old bad debt was recovered, new furniture was purchased, and the insolvency of a party was noted along with the receipt of a dividend.

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    Assignment on Journal Entries

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    From the transactions of M/s Singh & Co: - Various asset and liability accounts were opened on January 1 for cash, bank, stock, machinery, furniture, and amounts due from/to other parties. - Throughout January, the company purchased and sold goods on credit and for cash, paid and received amounts from other parties, borrowed money and paid expenses like taxes, advertisements, rent, and salaries. - On January 31, an old bad debt was recovered, new furniture was purchased, and the insolvency of a party was noted along with the receipt of a dividend.

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    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
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    Download as doc, pdf, or txt
    22 views1 page

    Assignment On Journal Entries

    Uploaded by

    Rishita Tandon
    From the transactions of M/s Singh & Co: - Various asset and liability accounts were opened on January 1 for cash, bank, stock, machinery, furniture, and amounts due from/to other parties. - Throughout January, the company purchased and sold goods on credit and for cash, paid and received amounts from other parties, borrowed money and paid expenses like taxes, advertisements, rent, and salaries. - On January 31, an old bad debt was recovered, new furniture was purchased, and the insolvency of a party was noted along with the receipt of a dividend.

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    of 1

    From the following transactions of M/s Singh & Co, write up the Journal

    2010 Rs.
    Jan. 1 Assets: Cash Rs. 200; Bank Rs. 6800; Stock Rs. 4000;
    Machinery Rs. 10000; furniture Rs. 1000; M/s. Narain
    Bros. oe Rs. 1!00; M/s. B.". Bros. oe Rs.2!00.
    Liabilities: #oan Rs. !000; su$ oin% to Jaco& Bros.
    #t'. Rs. 2000.
    Jan. 2 Bou%ht %oo's on cre'it fro$ Sa$ue( ) Co. 1*000
    Jan. + So(' %oo's for cash ,hira- ) Co. 400
    Jan. 4 So(' %oo's to Narain Bros. 1*000
    Jan. ! Rec'. fro$ Narain Bros. in fu(( sett(e$ent of a$ount
    'ue on Jan.1 1*4!0
    Jan. 6 .ay$ent $a'e to Jaco& Bros. #t'. &y che/ue;
    0hey a((oe' 'iscount
    12!
    2!
    Jan. 1 3(' furniture so(' for cash 100
    Jan. 10 Bou%ht %oo's 2!0
    Jan. 11 B.". Bros. 4ai' &y che/ue; che/ue 'e4osite' in the
    &ank 2*!00
    Jan. 11 .ai' for re4airs of $achinery 100
    Jan. 1+ Bou%ht %oo's of Jaco& Bros. #t'. 1*000
    Jan. 1+ .ai' carria%e on these %oo's !0
    Jan. 16 Rec'. che/ue fro$ Narain Bros. an' the che/ue
    'e4osite' in &ank 1!0
    Jan. 16 ,iscount a((oe' to the$ !0
    Jan. 12 .ai' che/ue to Jaco& Bros. #t'. 1*000
    Jan. 18 Bank inti$ates that che/ue of Narain Bros. has &een
    returne' un4ai'
    Jan. 11 So(' %oo's for cash to "ay Bros. 600
    Jan. 21 Cash 'e4osite' in &ank !00
    Jan. 24 .ai' Munici4a( 0a5es 100
    Jan. 2! Borroe' fro$ 6rania 7n8est$ent Co. #t'. for erectin%
    on 4re$ises. Money 'e4osite' ith &ank for the
    ti$e9&ein% 10*000
    Jan. 22 3(' nes4a4er so(' 20
    Jan. 28 .ai' for a'8ertise$ents 100
    Jan. +1 .ai' rent &y che/ue 1!0
    Jan. +1 .ai' sa(aries +00
    Jan.+1 ,re out of &ank for 4ersona( use 2!0
    Jan. +1 Narain Bros. &eco$es inso(8ent* a 'i8i'en' of !0 .aisa
    in the ru4ee is rec'.
    Jan. +1 :n o(' a$ount* ritten off as &a' 'e&t in 2002 is
    reco8ere'

    1!0
    Jan. +1 ;urniture 4urchase' 1*000

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