Bills Receivable General Entry

Rama started one business capital 1,00,000. Established one product at cost 82250, another one product established 18550. He sold both items 120000, debit 12500, rent 13500. What is the general entry?

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  • Nov 27th, 2015

for bringing cash in business
cash / bank a/c Dr Rs.100000/-
To Capital A/c Rs.100000/-
For producing products
Stock a/c Dr 87500/-
To Cash / Bank A/c Rs.18500/-
Stock a/c Dr Rs.18550/-
To Cash / Bank A/c Rs.18550/-
Rent A/c Dr Rs.12500/-
To Bank A/c Rs.12500/-
for Sale of products
Cash & Bank A/c Dr Rs.120000/-
To Stock A/c Rs.120000/-

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jassim jalaludeen

  • Dec 28th, 2015

1. For Capital
Bank/Cash ac Dr 100000
To capital ac Cr 100000.

2. Brought stock
Stock A/c dr. 82250
Stock a/c Dr. 18550
To Cash/Bank 100800.

3. Cash/Bank a/c dr. 120000
To Revenue a/c cr. 120000

4. Cost of good sold a/c Dr. 100800
To stock a/c Cr. 100800.

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Pranav Gupta

  • Feb 2nd, 2021

at sales: Debtor A/C Dr - To Sales A/c, on BR receiving, BR A/C Dr - To Debtor A/c and finally on Cash receive, Cash/Bank A/C Dr. - To BR A/C

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