Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. (c) prepare journal entries for the following tran

(C) Prepare Journal Entries for the following transactions in the books of Annamalal Bros. ...

80.2K

Verified Solution

Question

Accounting

(C) Prepare Journal Entries for the following transactions in the books of Annamalal Bros.
(i) Employees had taken stock worth 20,000(Cost price 15,000) on the eve of Deepa and the same was deducted from their salaries in the subsequent month.
(ii) Wages paid for erection of Machinery 16,000.
(iii) Income tax liability of proprietor 3,400 was paid out of petty cash.
(iv) Purchase of goods from Naveen of the list price of 4,000. He allowed 10% trade disco 100 cash discount was also allowed for quick payment.
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Physics
1.2K views

1.What does the \"Total Energy - Time\" graph tell you about the toal energy of the...

Accounting
1.2K views

What is meant by the term "arm’s length," and how do you see it as important...

Accounting
1.2K views

Read the scenario below and answer the questions that follow in your role as a member...

Biology
1.2K views

960 ENGAGE What happened when wolves were introduced to Coronation Island Coronation Island is a...

Geometry
1.2K views

You will use the GeoGebra geometry tool to investigate whether two pairs of corresponding angles...

Statistics
1.2K views

Horses are housed in pasture pipe pens or barn stalls at a local horse barn...

Algebra
1.2K views

Let W be a subspace of R4 spanned by the setQ = {(1,-1, 3, 1),...

Accounting
1.2K views

Knot Co. has the following activity for their most recent year...

Accounting
1.2K views

Denton Company manufactures and sells a single product. Cost data for the product are given:...

Accounting
1.2K views

really need all these answers Calculator Determine the amount of sales (units) that would...

Accounting
1.2K views

need help finishing up Greenville has provided...

Accounting
1.2K views

ExcerptRequirements What are Grand Lake's largest two categories of property and equipment as of ...