Exchanged old furniture for new, the value of old furniture was Rs. 350 while the value of new furniture was rs.900, balance paid in cash .
pass journal entry. If you don't know, then don't answer me .
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Exchanged old furniture for new, the value of old furniture was Rs. 350 while the value of new furniture was rs.900, balance paid in cash .
pass journal entry. If you don't know, then don't answer me .
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Answer :
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Journal Entry :-
New Furniture Ac Dr....900/-
To, Old Furniture Ac Cr...350/-
To, Cash Ac Cr.........550/-
(Being New asset were purchased by EXCHANGING old asset, and balance paid in CASH )
hope it helpful for u..
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©Sachin BhaleRao...
Answer:
M/s Ashoka and co. who owe rs.6000 became insolvent .Only 30% of the amount is realised.Pass journal entry.
Explanation:
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