Paid salary to ram journal entry

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WebMar 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 … WebJul 10, 2024 · Further , receipt of money from Bank in Cash , it results in increase of Cash, which is an Asset. When an asset is increased, the asset account is debited according to the Rules of Debit and Credit. So Cash A/c would be debited. Hence the entry would be : –. Cash A/c Dr. 10,000. To Bank A/c 10,000.

Salary paid Journal Entry - Class 11 - Bhardwaj Accounting Academy

WebNov 24, 2024 · The journal entry for paying salary to ram would be as follows. The justification for these entries is that in the first entry the salary is being due and in the … Web(ii) Salary paid to an employee Rs. 2,000 was debited to his personal account as Rs. 1,200. (iii) Goods withdrawn by proprietor for personal use Rs. 1,000 were credited to sales … cost cutters ashland ma

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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 … WebByju's WebJun 10, 2024 · Some other important journal entries . X started business with cash Rs. 500,000/= Open current A/c into SBI for Rs. 5000/= Cash deposit into SBI Rs. 100,000/= ... Paid Salary to Ram in cash 5500/= Purchase goods from Rahim on Which he allows 10% Trade Discount on MRP of Rs. 12000. breakfast in yardley pa

What is the journal entry of salary paid to ram? - Answers

Journal Entry Examples - Accountancy Knowledge

WebOn 31 January, they pay a salary expense of $ 11,000. It increases from prior month due to new staffs. Please prepare the journal entry for the January salary expense. As the … 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. costcutters ashtabula ohWebApr 1, 2016 · Problems 2: Prepare general journal entries for the following transactions of a business called Pose for Pics in 2016: Aug. 1: Hashim Khan, the owner, invested Rs. 57,500 cash and Rs. 32,500 of photography equipment in the business. 04: Paid Rs. 3,000 cash for an insurance policy covering the next 24 months. 07: Services are performed and clients … cost cutters arden hills

"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 ... " - Paid salary to ram journal entry

Paid salary to ram journal entry

JOURNAL - National Institute of Open Schooling

http://www.mjahan.yolasite.com/resources/Demo%2004-%20Journal%20Entries%20%26%20Ledger%20Posting%20%26%20T.B.-%20Rizvi%20Co%20%5BCompatibility%20Mode%5D.pdf 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.

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WebSalaries 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.

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 … 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.

WebSearch engine optimization (SEO) is the process of improving the quality and quantity of website traffic to a website or a web page from search engines. SEO targets unpaid traffic (known as "natural" or "organic" results) rather than direct traffic or paid traffic.Unpaid traffic may originate from different kinds of searches, including image search, video search, … WebJanuary 18 Salaries paid. 12,000 January 20 Cash withdrawn for personal use 5,000 Solution As explained above, before making the journal entries, it is very essential to determine the kind of accounts to be debited or credited. This is shown in the Table : Tabular Analysis of Business Transactions

WebMay 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 ...

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. breakfast in yorktownWebWhen ABC Ltd. makes the salary payment to its employees on November 30, 2024, it can make the journal entry as below: In this journal entry, the cash outflow is only $40,000 … cost cutters ashtabula ohioWebJan 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 … cost cutters ashland kyWebApr 5, 2024 · In return, the business has to pay interest. A. Loan is taken from a bank or person: Journal Entry: Example: ₹10,000 was taken as a loan from ... only a single entry is passed because interest is directly paid. Journal Entry: Example: Interest of ₹500 has been paid to the bank on the loan taken. Solution: My Personal Notes arrow ... breakfast in ybor cityWebWhat 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. breakfast in yosemite valleyWebPaid salary 25000 by cheque, and still due 10000. i. Paid insurance premium in advance 9000. j. Paid for salary outstanding 10000. k. A bad debt of 5000 ... Required: Journal entries in the book of Ram . Journal Entries. Date. Particular. L.F. Debit. Credit. a. breakfast in yellow springs ohioWebMay 28, 2012 · What is the journal entry for Advance Salary paid to ram through Bank? advance salary a/c dr to cash. What is journal entry for paid ram 1000? Debit ram 1000Credit cash 1000. breakfast io