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2 years ago

Issued a cheque of rs. 39000 to Saurya stores in full settlement. journal entry

Business

1 answer:

Semmy [17]2 years ago

4 0

Answer:

When issuing a check to a creditor as is being done here, you need to debit the creditors account (Accounts Payable) to show that you are paying off the debt.

You also need to credit cash because a credit will show that cash was used to pay for something and so has reduced.

Date Account Title Debit Credit

XX-XX-XXX Accounts Payable - Saurya Stores Rs. 39,000

Cash Rs. 39,000

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4 0

2 years ago

On March 15, a fire destroyed Blossom Company's entire retail inventory. The inventory on hand as of January 1 totaled $5300000.

Svet_ta [14]

Answer:

The value of inventory destroyed=$4,082,000

Explanation:

<em>The value of the inventory destroyed is the difference between the the cost of the total goods available for sale and the cost of goods sold</em>

The value of inventory destroyed = cost of goods available for sale - value of inventory sold

Cost of goods sold = 3540,000 - (20%× 3540,000)= 2,832,000

The cost of goods available for dale = opening inventory + purchases + freight charges

$5300000 + $1432000 + $182000 = 6,914,000

The value of inventory destroyed = 6,914,000 - 2,832,000 = 4082000

The value of inventory destroyed=$4,082,000

7 0

2 years ago

At the current steady state capital-labor ratio, assume that the steady state level of per capita consumption, (C/N)*, is greate

Blizzard [7]

Answer:

C) a reduction in the saving rate will have an ambiguous effect on (C/N)*

Explanation:

The steady state consumption refers to the difference between how capital wears out or depreciates vs total output. In order to keep a steady state consumption, the savings rate (which equals investment) must be enough to replace any worn out or completely depreciated capital.

Since the consumption rate is already higher than the steady state consumption, the effect of a decrease in the savings rate is ambiguous. Every dollar earned by a household is either spent or saved, and in order for savings to decrease, spending must increase.

But in this case, the spending level is already too high. A decrease in savings should increase consumption but the effects of the increase in the capital labor ratio and the per capita consumption are not certain.

6 0

2 years ago

18)<br> Whiskey, gin, and vodka are examples of<br> spirits (3 pts).

Nataly_w [17]

Answer:

Vodka, gin, baijiu, shōchū, soju, tequila, rum, whisky, brandy and singani are examples of distilled drinks. Beer, wine, cider, sake and huangjiu are examples of fermented drinks.

Explanation:

6 0

3 years ago

Roundwell motors purchases a manufacturing plant for $15 million, pays $5 million in cash as down payment, and borrows the re

gregori [183]

A mortgage is the resource available to home providence to recover the loan.

A mortgage is defined as a legal agree between a bank/creditor with a a person or business. They lend money with an interest rate in exchange for having full ownership of the persons title (house/business building) if the person does not pay.

7 0

3 years ago

Issued a cheque of rs. 39000 to Saurya stores in full settlement. journal entry​

Issued a cheque of rs. 39000 to Saurya stores in full settlement. journal entry