Journal entry questions and answers pdf

congratulate, very good idea suggest..

Journal entry questions and answers pdf

There are a myriad of benefits to journaling, and everyone should consider keeping a journal. I recommend that you do the following:. Sunday Scribblings is a site that posts a writing prompt every Saturday.

These can also be used as journal prompts. Make sure you give an explanation for each of the things you add to your list. Use your journaling sessions to think about your ideal life.

Ask yourself dream triggers, such as the following:. They can also be used as journaling prompts. Keeping a journal is a great tool for changing your life for the better. The prompts above are a great place to start. Download it, print it, and put it somewhere you can grab it when you feel like making lists. Just fill in your name and email in the form below.

I Love this! I love to write and journal!!! Hi there! Just wanted to say I love reading your blog and look forward to all your posts! Keep up the superb work!

Marelisa, thank you for this wonderful list!! Thanks again and have a great day! I think this is a great way to expand those journal horizons, so to speak. This site is really awesome. I was just thinking that I wanted to make a list of journal prompts so I googled journal prompts and found this.

Now I have a whole bunch of great things to write about. Marelisa Fabrega is a lawyer and entrepreneur.At year end, unrecorded interest expense due to creditors was Rs. Prepaid Insurance account began the year with a balance of Rs. During the year, insurance in the amount of Rs. At the end of the year March 31 stthe amount of insurance still unexpired was Rs. Prepare the year end adjusting entry:. Wages are paid every Saturday for a five day work week Mon — Fri; two days are unpaid and free.

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Wages are Rs. Prepare the adjusting entry on June 30, assuming July 1 falls on a Wednesday:. At year end, unrecorded interest receivable from the Government bonds is Rs.

Prepare the adjusting entry:. On July 3, a deposit in the amount of Rs. By the end of the month, services in the amount of Rs. Prepare journal entries for the original receipt of the deposit and the adjusting entry on 31 st July:. On October 4, Smith Company rendered services valued at Rs.

journal entry questions and answers pdf

The client will pay for the services November 1 and closing are done at the end of each month pass this transaction at the end of period:. The Supplies asset account began the year with a balance of Rs. During the year, supplies in the amount of Rs. At the end of the year the inventory of supplies on hand was Rs.

Mukharji, A. Financial Accounting Vol.

journal entry questions and answers pdf

Narayanswami, R. Financial Accounting: A Managerial Perspective. New Delhi: Prentice Hall of India. Ramchandran, N. Financial Accounting for Management. Adjusted Trial Balance. Correcting Entries.

Principles of Accounting. Cost Accounting. Principles of Finance. Financial Accounting. Your email address will not be published. Save my name, email, and website in this browser for the next time I comment.The amount brought in by owner of the business should be credited to? Which of the following accounts would be increased with a debit? Cash Book Three Col. Cash Book Double Col. Financial Accounting Vol.

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Narayanswami, R. Financial Accounting: A Managerial Perspective. New Delhi: Prentice Hall of India. Ramchandran, N. Financial Accounting for Management. Rectification of Errors. Principles of Accounting. Cost Accounting.

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Principles of Finance. Financial Accounting. Your email address will not be published.

Accounts Journal Entries-Top 23 Voucher Entries - Hindi Video by The Accounts

Save my name, email, and website in this browser for the next time I comment. Submit Comment. Which of the following transactions would have no impact on stockholders' equity? Which of the following transactions occurs on daily basis in a large business organization?Here is a list of full accounting questions and answers that can be found on this site, along with a brief description of each one.

The following questions full exercises were submitted by visitors like yourself from around the world and solved by the author.

Here are a bunch of accounting questions and answers on very specialized topics submitted by fellow accounting students from around the world:. Click here to get it on Amazon now.

Some testimonials from individuals who bought the Workbook :.

journal entry questions and answers pdf

I have to take a course in accounting for an online degree program that I am involved with and this book is a life saver. It explains clearly the information you need and has quizzes that are a tremendous help in grasping the material. Click here to get the Workbook on Amazon now. Stay up to date with ABfS! Advertise on Accounting-Basics-for-Students.

journal entry questions and answers pdf

All Rights Reserved. Click here for Privacy Policy. Full Accounting Questions and Answers Here is a list of full accounting questions and answers that can be found on this site, along with a brief description of each one.

Service business - no inventory but supplies on hand and used. Some testimonials from individuals who bought the Workbook : "Really helps! Comments Have your say about what you just read! Leave me a comment in the box below. Search this Site:. Popular Pages. Follow Us Facebook Twitter. Privacy Policy.India Gate, Delhi national monument. Q: What's the entries for the following:. Click here to add your own comments.

Advertise on Accounting-Basics-for-Students. All Rights Reserved. Click here for Privacy Policy. Search this Site:. Popular Pages Home. What is the Journal Entry for this? Joy invested tk. See this lesson on the journal entry for a capital investment by the owner. Best, Michael C. Founder of Accounting Basics for Students. Joseph started his business with his personal savings of 10 million shillings cash at hand and 20 million cash at bank.

Bought buildings from Moses at 10 million, paid 2 million cash, 4 million by cheque and promised to pay the balance later. Bought machinery from Saimco Ltd for 5 million on credit. Bought a motor vehicle from General Motors on hire purchase terms for total payment of 8 million. Made a down payment of 3 million by cheque. Balance to be paid later. Borrowed 5 million cash from cousin to be repaid in 2 years' time. Paid General Motors 2 million by cheque.

Extended building purchased from Moses at a cost of 1 million cash. Issued a 2 months' note payable for an amount of 1 million five hundred shillings cash. Sold old machinery to James at 1 million on credit. Received a cheque of five hundred shillings from James for the machines sold to him on credit. For the period it purchased goods to be sold, valued atThe goods were all sold for a total price ofHow much is the business income?

It's a trick question basically.

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Business income here is equal to the full value of the sales - in other words,All the info in the question about the downpayment and money to still be collected - this is all just meant to throw you off.

What matters is the goods were sold in the current financial year. Some cash was received immediately, some is still owed to us. But the full value of the sales are recognized as sales in the current year.

Journal Entries and Ledger Question and Answer

Journal Entry - Outstanding Salaries by: Anonymous If salaries for the month of December is but paid only at 31st December, and the rest of the amount is paid in January, what will the entry be for both months considering FY ends at the end of December? See the journal entry for point 4 in the main example at the top of this page. It's basically the same thing. Best, Michael. Sajjan - Cash Purchase of Goods by: Nikhil What will be the journal entry for purchased goods from you for cash?Get preparation of General Accounting job interview.

Is This Answer Correct? In case of vat payable: output vat Toinput vat To vat payable In case of vat refundable: output vat vat refundable To input vat. Spin off is creating new company by selling or distributing the shares of existing company. BMW 2. Toyota Motors 3. TATA Motors 4. My present company is shifting its business premises to far from the present place.

An estimation of the revenue and expenses over a specified future period of time. A budget can be made for a person, family, group of people, business, government, country, multinational organization or just about anything else that makes and spends money. A budget is a microeconomic concept that shows the tradeoff made when one good is exchanged for another.

Budgeting lies at the foundation of every financial plan. Payroll deals with paying your employees including seeing that the government gets the monies they require you to withhold from the employees and the payroll taxes they require you to pay.

If you have occasional employees, or even one or two full- or part-time, you can get by recording the payroll transactions in the General Journal. Labor-expense, withholding, accrued-taxes, and tax-expense include multiple accounts as we'll get into below.

Accounting Journal Entries

If you have more than a couple of employees it definitely pays to set up a Payroll system. A Payroll system involves a Payroll Journal — in which payroll is accrued, i.Get a B. Study Anytime, Anywhere. Apply Now! Copyright Krishbhavara.

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