Illustrations on journal entries - class-IX
| Description: illustrations on journal entries | |
| Number of Questions: 19 | |
| Created by: Ashok Dhingra | |
| Tags: commercial studies business studies elements of accounts journal original entry: journal and subsidiary books accounting books and statements accountancy elements of book keeping and accountancy accounting in business |
One debit account and more than one credit account in a entry is called compound entry.
The amount brought in by the proprietor in the business should be credited to ____________.
Interest on capital is credited to ___________ account.
A sale of goods of vidhya for cash should be debited to ______________.
The accounting entries which appear on both the sides of cash book are called journal entries.
Cash discount does not appear in the books of accounts.
A closing entry of sales account, which appears on the credit side of trial balance is as under _________________.
When the claim on account of loss of stock is partly accepted by the insurance company, the journal entry will be _________________________.
When the claim on account of loss of stock is fully recoverable from the insurance company, the journal entry will be ______________________.
What will be the necessary adjusting closing entry for the following adjustment as on $31^{st}$ March, $2005$. Insurance paid $Rs. 4,000$ (including premium of $Rs. 3,000$ per annum paid upto $30^{th}$ June, $2005$________________________.
In certain jobs, for example, hotels farms, hospitals, the employees are given the facility of residing in a house free of rent or they are given meals or clothes, water etc. A transfer of the proportionate amount is essential to salaries or wages account. Entry for this is ________________.
Goods worth Rs. $10,000$ were purchased by B on which the traders allowed Rs. $500$ trade discount and offer to give $5\%$ cash discount if immediate payment is made. The Purchase A/c will be debited by _________.
Which of the following specialized journals will record "goods returned by the business"?
The term 2/10-n/30 implies that discount will be given if the payment made within ______ day is receivable within 30 days.
A Company makes a purchase on $10^{th}$ may some office equipment . The correct journal entry will be
| Debit | Credit | |
|---|---|---|
| 1 | Office equipment | Supplies |
| 2 | Purchases | Office equipment |
| 3 | Accounts payable | Office equipments |
| 4 | Office equipment | Accounts payable |
If salary is given to proprietor ______________________.
Which of the following should be entered in the Journal?
(i) Payment for purchases
(ii) Fixtures bought on credit
(iii) Credit sale of goods
(iv) Sale of surplus machinery.
Which of the following are not errors of principle?
(i) Motor expenses entered in Motor Vehicles account.
(ii) Purchases of machinery entered in Purchases account.
(iii) Sales of Rs. 250 to Varun completely omitted from books.
(iv) Sales to a Varun entered in Amit's account.
Which of the following item is found in a Journal entry?
$1$. Date of each transaction
$2$. Rupee amount of each debit and credit
$3$. Explanation of each transaction.