Mr.C.A (ipcc) (173 Points)
27 November 2011Please solve my entries " whenever i get error in adj entries " i miss you guys " thanks for everything :D
1) subscripttions (including for 2006 rs.750) tot.21250
2) Interest on securities 1,000
adjustment entries :
1) There are 400 members who pay subscripttions at the rate of rs.50 per member.
2)The associtation holds 3 percent Government securites amounting to Rs.40,000
kamal kishor sen
(STUDENT Rajasthan)
(2156 Points)
Replied 27 November 2011
Entry no.1 Subscripttion received 21250 (including previous year 750)
Cash a/c dr. 21250
To subscripttion a/c 20000(400 x 50)
To Advance subscripttion a/c 500(currnt year)
To accrued subscripttion a/c 750(previous year)
Entry no.2 Interest on securites received 1000
Cash a/c Dr. 1000
Accrued int. on sect. a/c Dr. 200
To interest on securities a/c 1200
Plz. clarify if i m wrong....
satish kumar Chauhan
(accountant)
(347 Points)
Replied 27 November 2011
Dear kamal
1st entry should be as
Entry no.1 Subscriptttion received 21250 (including previous year 750 and 500 as in advancefor next year )
Cash a/c dr. 21250
To subscriptttion a/c 20000(400 x 50)
To Advance subscriptttion a/c 500(next year)
To accrued subscriptttion a/c 750(previous year)
kamal kishor sen
(STUDENT Rajasthan)
(2156 Points)
Replied 27 November 2011
| Originally posted by : satish kumar | ||
 |
i also mean that same but written as wrong
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