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Journal Entry Question
India Gate, Delhi (national monument)
Q: What's the entries for the following:
1 - Business started with cash 8,000 and plant & machinery 3,000. 2 - Stock purchase for sale (cash purchase)= 3,000, credit purchase = 5,000 3 - Wages paid 120,000(including 20,000 of future year). 4 - Salary paid 200,000 but due 110,000. 5 - Sale made for cash 600,000 & on credit 800,000. 6 - Depreciation 10 percent on plant & machinery. 7 - Goods costing 20,000 destroyed by fire. 8 - Payment made to creditor of 200,000 at 10 percent discount.