Voucher Rejection Entry Quiz

If a company's goods of Rs. 5000 were stolen by a thief, how would the journal entry be made?

What would be the correct journal entry if a company's advertising expenses of Rs. 2000 were actually the distribution of goods as a sample?

If goods worth Rs. 3000 were donated as charity, how would this transaction be recorded?

If goods worth Rs. 8000 were damaged by flood and rain, with an insurance claim accepted for Rs. 6000, how would this transaction be accounted for?

What would be the journal entry if wages of Rs.1200 were left unpaid?

If sundry expenses of Rs.2000 were unpaid, how would this transaction be entered in the journal?

If commission worth Rs.500 was unreceived, how would this situation be reflected in the company's journal?

What would be the correct journal entry if a company paid a brokerage of Rs.5000 in advance?

Goods of Rs. 4000 were sold to Gopal Traders by cash.

Interest of Rs. 5000 was received by cash from Dhiraj Corporation.

Machinery worth Rs. 8000 was sold to Krish Elevators by cash.

Goods worth Rs. 18000 were purchased from Shania Mirja.

Damaged goods worth Rs. 1500 were returned by Shania Mirja and an amount of Rs. 16500 was received by SBI cheque from Shania Mirja.

A Physical Stock Voucher is used to hide any differences between the stock entered in the software and the physical stock in the godown.

In the given example, M/S National Traders purchased a Xiaomi Mi CC9 Pro Mobile on November 1st.

The GST rate for the Nikon D5600 Camera purchased by M/S National Traders is 18%.

In the transaction with Efftronics Systems Pvt Ltd, M/S National Traders issued a Delivery Note Voucher on November 1st.

If a company returns goods to a supplier due to defects, this transaction would be recorded as a Purchase Return Voucher.

When calculating capital, purchases are subtracted from sales to determine the net capital.

In a receipt voucher, the name of the recipient is always mentioned in the debit side.

If goods worth Rs. 2000 were returned by Mohini Creation, the entry would be: Dr-> Sale Return Goods, Cr-> Prajakta Fashion.

Receiving dividends of Rs. 7000 by cash would result in the entry: Dr-> Cash, Cr-> Dividend Income.

If goods worth Rs. 10000 were sold to Roobina Creation for cash, the entry would be: Dr-> Cash, Cr-> Sold Goods.

When receiving commission of Rs. 3000 in cash from Harsh, the entry would be: Dr-> Commission Income, Cr-> Cash.

A receipt voucher always mentions the reason or account from which money is received on the credit side.