Journal entry
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 April 2014
How will be pass this entry in tally??
Acquire the running business of max, for cash
₹ 50,000 by taking over a following assets and liabilities at value of stock against them:
stock of goods ₹ 15,000
cash ₹ 25,000
furniture ₹ 10,000
debtor ₹ 7,000
machinery ₹ 8,000
creditor ₹ 15,000
Acquire the running business of max, for cash
₹ 50,000 by taking over a following assets and liabilities at value of stock against them:
stock of goods ₹ 15,000
cash ₹ 25,000
furniture ₹ 10,000
debtor ₹ 7,000
machinery ₹ 8,000
creditor ₹ 15,000
19 April 2014
Entry 1.Entry for purchasing of business of
max
Business Purchase A/c/ Dr. Rs. 50
To Mr. Max Ac/ Cr Rs. 50
Entry 2. To incorporate Assets and
liabilities and pay off Mr Max
Respective Assets A/c Dr Rs. 65
Mr. Max A/c Dr Rs. 50
To Resp Liabilities Cr Rs. 15
To Bank /Cash A/c Cr Rs. 50
To Business Purch. Cr Rs. 50
max
Business Purchase A/c/ Dr. Rs. 50
To Mr. Max Ac/ Cr Rs. 50
Entry 2. To incorporate Assets and
liabilities and pay off Mr Max
Respective Assets A/c Dr Rs. 65
Mr. Max A/c Dr Rs. 50
To Resp Liabilities Cr Rs. 15
To Bank /Cash A/c Cr Rs. 50
To Business Purch. Cr Rs. 50
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Confusion around Form 26QB fields
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- BUYING PROPERTY COULD NOT FILE 26QB
- Gst input for FY 23-24
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
