It refers to the temporary removal of an employee from the payroll of the organization. The reasons are beyond the control of the employer. The employee is not terminated and expected to be called back. It seems to be in …
Received cheque as full payment from Rajani Enterprises and deposited same day into the bank Analysis of transaction : Increase assets (Bank) on the one hand and decreases assets (Rajani Enterprises as debtors) on the other hand. Increase in assets …
Paid the monthly store rent ₹2,500 in cash Analysis of transaction : decreases capital thus, are recorded as debits. Credit cash to record a decrease in assets.
Goods costing ₹25,000 sold to Rajani Enterprises for ₹35,000. Analysis of transaction: This transaction increases sales (Revenue) and increases assets (Rajani Enterprises as debtors). Increases in assets are debited and increases in revenue are credited. JournalCredit to Sales account and …
Goods purchased from Sumit Traders for ₹ 55,000 Analysis of transaction : This transaction increases purchases (expenses) and increases liabilities (M/s Sumit Traders as creditors) by ₹ 55,000. Increases in expenses are debited and Increases in liabilities are credited. Journal- …
Bought Plant and Machinery from Ramjee lal for the business for – ₹ 1,25,000 and an advance of ₹ 10,000 in cash is given. Analysis of Transaction :  increases plant and machinery (assets) by ₹ 1,25,000, decreases cash by₹ 10,000 …
Analysis of Transaction : This transaction increases furniture (assets) on one hand and decreases bank (assets) on the other hand by ₹60,000. Increases in assets are debited and Decreases are credited. Journal- Debit to Furniture account and credit to Bank …
Analysis of Transaction: The transaction increases the cash at bank on one hand and decreases cash in hand on the other hand. Increases in assets are debited and a decrease in assets are credited. Journal- Debit to Bank account and …
Rohit started business with cash ₹5,00,000 Analysis of Transaction : The transaction- increases cash on one hand and increases capital on the other hand. Increases in assets are debited and increases in capital are credited. Journal- Debit to Cash and …
Goods costing ₹ 25,000 sold to Rajani Enterprises for ₹ 35,000. Analysis of transaction: This transaction decreases stock of goods (assets) by ₹ 25,000 and increases assets (Rajani Enterprises as debtors ₹ 35,000) and capital (with the profit of ₹ …