Pass the necessary journal entry . A horse bought on April 20 died on April 30. It's carcase was sold for 5000 rupees.

The following will be the Journal entries-

Journal

Date

Particulars

L.F.

Debit

Amount

(Rs)

Credit

Amount

(Rs)

April 20

Livestock A/c (Horse)

Dr.

 

20,000

 

 

  To Cash A/c

 

 

 

20,000

 

(Horse purchased for Rs 20,000)

 

 

 

 

 

 

 

 

 

 

April 30

Cash A/c

Dr.

 

5,000

 

 

  To Livestock A/c (Horse)

 

 

 

5,000

 

(Carcase of horse was sold for Rs 5,000)

 

 

 

 

 

 

 

 

15,000

 

April 30

Profit and Loss A/c

Dr.

 

 

15,000

 

  To Livestock A/c (Horse)

 

 

 

 

 

(Loss on sale of carcase of horse debited to profit and loss account)

 

 

 

 

 

 

 

 

 

 

Alternatively, for the above two entries, a single Journal entry can also be passed as follows.

 

 

 

 

 

 

April 30

Cash A/c

Dr.

 

5,000

 

 

Profit and Loss A/c

Dr.

 

15,000

 

 

  To Livestock A/c (Horse)

 

 

 

20,000

 

 

 

 

 

 

  • 18

at wat cost was the horse bought???

  • 1

 cash a/c dr. 5000

      to  carcase sales a/c  5000

(being carcase sold )

  • 1

 The horse was bought for 20,000.

i think the journal entry is

ca

  • -1

 Cash a/c.          Dr.

P/L a/c.              Dr.

to livestock a/c 

is it right?

  • 2
What are you looking for?