Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Write the double entries for the following transactions. (a) Obtain a loan worth Rs.100,000/- from the bank. (b) Paid Rs. 150,000/- of the account owing

image text in transcribed

Write the double entries for the following transactions. (a) Obtain a loan worth Rs.100,000/- from the bank. (b) Paid Rs. 150,000/- of the account owing on the delivery truck. (c) Received cash from customers for services rendered Rs. 40,000/-. (d) George return goods worth Rs. 1,500/- that was bought on credit. (e) Benny's Pvt Ltd paid the Auditor Rs. 10,000/- with a check. (0) A debt of Rs. 100/- owing from Mahindra is written off as bad debts. (g) The purchase of a machine, Rs. 25,000/-, is debited to the purchase account instead of being debited to machinery account. (h) Milton Dias withdrew Rs.6,000/- from the organization for his personal use. (0) Repaid part of loan worth Rs. 3,000/- Gorge by cheque. c) Rent from the apartment of Rs. 31,150/- was received in cash

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting For Non-Accountants

Authors: David Horner

12th Edition

1789664306, 9781789664300

More Books

Students also viewed these Accounting questions

Question

What is low vision?

Answered: 1 week ago