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3 years ago

Goods sold to Mahesh Rs 20000 journal entries

Business

1 answer:

eimsori [14]3 years ago

8 0

Answer:

see below

Explanation:

This transaction is affecting sales. It is increasing sales( revenue account) by Rs 20,000. An increase in sales is recorded by crediting the sales account.

The goods are sold to Mahesh. It is an increase in accounts receivable ( asset account). An increase in assets is recorded as a debit to the asset account.

The Journal will be as follows.

Mahesh A/c Dr. Rs. 30,000

Sales A/c Cr. Rs.20,000

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<h3>What is a vertical analysis?</h3>

A vertical analysis is a financial statement analysis with each line item listed as a percentage of the base figure from the financial statement.

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Thus, the vertical analysis approach that will provide the most effective performance evaluation of James Jeans Co. and its two largest competitors is <u>Option B.</u>

<em>"Calculate the cost of goods sold, selling and administrative expenses, and net income as a percentage of net sales for James Jeans and the two largest competitors; draw conclusions from these results and highlight similarities and differences."</em>

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Learn more about vertical analysis at brainly.com/question/15694796

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2 years ago

Goods sold to Mahesh Rs 20000 journal entries​

Goods sold to Mahesh Rs 20000 journal entries