Paid salary to ram journal entry

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WebCorrect option is B) Salary paid to Ram will be debited to salary A/c instead of Ram's Personal A/c. The correct Journal Entry is. Salary A/C Dr. To Cash A/c. (Being salary paid … WebJun 25, 2024 · On 31st March, 2024 Salary paid by cheque to employee Rs. 60,000. Pass journal Entry. The salary paid to the employees is considered as the Expenses of the business. According to the accounting rules, the increase in the Expenses will be debited. Therefore, the salary account will be debited while passing the Journal entry.

Salary paid to Ram will be debited to Ram

WebBooks of Mr. Ram Gopal of Delhi. ... Paid salary. 4,000. March 6. Paid for office furniture in cash, CGST and SGST paid @ 6% each. ... When a contra entry posted in cash book there is a reference column, the letter “C” is written this denotes that the entry is a contra entry. (2) ... WebApr 5, 2024 · B. Interest charged and then received on loan given: There can be a situation where the interest is charged first and then received. There will be two Journal Entries in this case. i. Journal Entry: (On charging of interest) Example: Interest of ₹250 is charged to Dharmesh on a loan provided to him. champion coffee cream

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WebBaisakh 10 Cash of Rs. 10000 received from ram. Baisakh 11 Paid for the salary of Rs. 5000 and rent Rs. 5000. Journal Entries. Date: Particular: L.F: Debit Rs. Credit Rs. Baisakh 10: Cash a/c.....Dr. 10,000: To Ram's a/c: 10,000 (Being cash received from Ram) Baisakh 11: WebThe journal entry for paying salary to ram would be as follows. Salary A/C Dr. Salary payable A/C Dr. The justification for these entries is that in the first entry the salary is being due … WebPass a Journal entry with respect to this transaction. Solution - The following steps need to be considered for passing the journal entry: - Step 1 – On the gateway of Tally, go to Accounting Vouchers. Step 2 – Press F7 for passing a Journal entry. Step 3 – Now press F2 and enter the date i.e., 30.04.2024. Step 4 – Under Particulars ... champion collards days to maturity

Journal Entry for Salaries Paid Example - FinancEazy

NCERT Solutions for Class 11 Accountancy Financial Accounting …

WebWhat are the journal entries for the following: 1. Joseph started his business with his personal savings of 10 million shillings cash at hand and 20 million cash at bank. 2. Bought buildings from Moses at 10 million, paid 2 million cash, 4 million by cheque and promised to pay the balance later. 3. http://www.accountingdose.com/2015/08/journal-entry-for-salary-including.html champion collard seedWebJan 20, 2024 · To enter a journal entry in Tally. ERP 9 follow these simple steps: Step 1. From the gateway of Tally.ERP 9, Go to Accounting Voucher, Gateway of Tally > Accounting Voucher. Step 2. Now hit F7 shortcut key for journal voucher entry or click on F - 7 Journal button on the right side of the screen. Step 3. happy tymes website

"WebSolution: Question 9. Solution: Question 10. Journalise the following transactions : i. Paid Rs.2,000 in cash as wages on installation of a machine. ii. Sold goods to Manohar, list price Rs.4,000, Trade Discount 10% and cash Discount 5% he paid the amount on the same day and availed the cash discount. " - Paid salary to ram journal entry

Paid salary to ram journal entry

DK Goel Solutions for Class 11 Accountancy Chapter 9 Books of …

WebJan 9, 2012 · KUALA LUMPUR: Investors will closely watch the share price benefit in Yield Court Industries Bhd today after Bursa Malaysian cancel its nearly two-month old designation job last Jomaa. In mid-November, Bursa Malaysia declared Harvest Court’s shares and options as “designated securities” after the share price skyrocketed as loads … WebMay 14, 2024 · The cheque deposited in the bank journal entry is to debit the bank account and credit the giver. The giver can be debtors or any other entity from whom amounts are due. If any discounts are allowed, the GL will be debited to the extent of the discount, and the balance will hit the bank account. These days we have Cheque deposit machines as ...

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WebNov 22, 2024 · Salary paid ₹10,000. Journal Entries questions for Practice. Question 7. 2024. ... Rent paid ₹ 6,000 9. Goods return to Ram ₹ 10,000 10. Commission received ₹ 5,000 11. Goods return from Deepak ₹ 8,000 12. Cash paid to Ram in his account 13. Webthe total of Salary and Rent paid. Journal entry Rent A/c Dr. 2,000 Salary A/c Dr. 4,000 Cash A/c 6,000 (Cash paid for rent and salary) Similarly cash paid to Vikram 4900. He allowed us discount 100. Journal entry will be : Vikram Dr. 5,000 Cash A/c 4,900 Discount A/c 100 (Cash paid to Vikram and discount allowed by him) Journals INTEXT ...

WebC OL OR A DO S P R I N G S NEWSPAPER T' rn arr scares fear to speak for the n *n and ike UWC. ti«(y fire slaves tch> ’n > » t \ m the nght i »ik two fir three'."—J. R. Lowed W E A T H E R F O R E C A S T P I K E S P E A K R E G IO N — Scattered anew flu m e * , h igh e r m ountain* today, otherw ise fa ir through Sunday. WebJun 1, 2016 · Example # 1: Following transactions are related to Saifullah Naseem business. You are required to pass Journal Entries. June 1, 2016. Mr. Saifullah started business with Cash Rs. 10,000 and Furniture Rs. 2,000. June 5. Purchased merchandise/goods on credit Rs. 5,000 from Ali Store. June 7.

WebThe insurance premium is $ 120,000 per year. Please prepare the journal entry for the insurance premium paid. On 01 June 202X, the company makes a payment of $ 120,000 for the insurance service that will cover 12 months (June 202X-May 202X+1). So ABC does not yet consume the insurance service yet, it is the prepaid expense that will be ... WebSep 28, 2024 · The following information is given to you by Mr Suraj: 5 Jan: Loan taken from Mr Dinesh Rs 50,000. 10 Feb: Loan taken from BC Co-operative Ltd Rs 200,000. 15 Mar: 15% Loan taken from Ms Ranjana Rs 100,000. 20 Apr: 12% Loan taken from NMC Bank Ltd Rs 3,00,000 by opening bank account. Required: Journal entry.

WebThe nature of the journal entry to be passed for this transaction is _____. Medium. View solution > Journalise the following transaction: Ambuj, a debtor for Rs. 10,000 has become bankrupt and half the amount is received from his estate. Medium. View solution > Cash discount is _____. Medium.

WebDec 2, 2024 · The purpose of posting JF in the ledger is to locate entries in the journal book and also to ensure that recording has been done in books of original entry. 9. What entry (debit or credit) would you make to: (a) increase revenue (b) decrease in expense, (c) record drawings (d) record the fresh capital introduced by the owner. champion coach cargo shortsWebSalaries paid ₹ 4,500. Jan. 21: Settled the amount due to Ram ₹ 2,000 by paying cash ₹ 1,910. Jan. 22: Cash received from Jai ₹ 14,780 in full settlement of his account of ₹ 15,000. Jan. 23: Paid Life Insurance premium ₹ 1,500. Jan. 31: Deposited with bank the entire balance after retaining ₹ 7,000 cash in hand. happy tymes warrington paWeb#1 – Initial Recordation. The main salary journal entry will be recorded for the initial payroll. This entry shall record or recognize the gross salary or gross wages Gross Wages Gross … champion collar shirtWebOct 22, 2024 · Salary payable is an account that entities use to record accrued salary expenses. This account exists due to the accrual principle in accounting. Salary payable … happy tymes family fun center warrington paWebQuestion 23. Record Navin Gupta & Sons Journal Entries. 1. Out of Insurance premium paid this year, Rs. 15,000 is related to next year. 2. Credit purchases from Ram & Co. for Rs. 50,000. Cash discount will be received at 5% on payment of bill within 10 days. 3. Cash paid to Ram & Co. and discount availed of. 4. Paid Income Tax Rs. happy tymes bowlingWebMar 31, 2024 · 1 answers. -On 1 April, 2012 Gupta Bros purchased two machines for 1,50,000 each. Depreciation at the rate of 10% on original cost of machine was to be … happy tyler posey lyricsWebMay 2, 2024 · Paid Salary to Gopal: 1,200: Mar-28: Received cash from Hari: 12,000: Mar-29: Withdrew cash from office for personal use: 4,000: Mar-30: Wages paid: 7,200: ... Chapter 5 Books of Original Entry – Journal . Chapter 6 Accounting for Goods and Service Tax (GST) (Coming soon) Chapter 7 Books of Original Entry ... champion coffee greenpoint manhattan ave