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3 years ago

A cheque of Rs 4500 received from yogesh and deposited into bank. Required: Journal Entry

Business

1 answer:

olga nikolaevna [1]3 years ago

3 0

Answer:

See below

Explanation:

This transaction will affect the bank balance by increasing it with the check amount. The bank is cash (asset ) held in the bank. An increase in assets account is a debit. The bank A/c will be debited.

The check is received from Yogesh. Yogesh must have bought goods on credit and hence is an account receivable (asset). Since Yogesh has paid, his account decrease by the check amount. A decrease in assets is credited.

The journal entry will be

Bank A/c DR. Rs 4500

Yogesh A/c Cr. Rs 4500

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The total assets on the balance sheet was $128,800 before journalizing and posting the adjusting entries for $800 of expired ins

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Given:

Total assets before journalizing and posting the adjusting = $128,800

Expired insurance = $800

Expired rent = $2,400

Depreciation = $900

To find:

Total assets after journalizing and posting the adjusting

Solution:

To determine the value of the total assets after journalizing and posting the adjustment, we have to subtract all the given values i.e, the expired rent, expired insurance and the depreciation values from the total assets before journalizing and posting the adjusting.

The calculation is as follows,

Total assets after journalizing and posting the adjusting

$\Rightarrow\$128,800 - \$800 - \$2,400 - \$900 = \$124,700$

Therefore, the required value of the total assets after journalizing and posting the adjusting is $124,700.

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Explanation:

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Answer:

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Explanation:

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4 years ago

A cheque of Rs 4500 received from yogesh and deposited into bank. Required: Journal Entry​

A cheque of Rs 4500 received from yogesh and deposited into bank. Required: Journal Entry