List of top Accountancy Questions on Journal Entry

Cash deposited into bank by the proprietor should be recorded in:
A bill of \( \₹ 50,000 \) was dishonoured and bank charges of \( \₹ 500 \) were paid by the holder. The total amount recoverable from the acceptor is:
When a company issues fully paid shares to promoters for their services, the journal entry will be:
Unrecorded liabilities when paid by a partner are shown in
Based on the above, answer the question. Amrita and Kalyani are partners sharing profits in the ratio of 3 : 2. They decided to expand the business by admitting Suraj as a new partner for 1/4th share. Suraj’s share of goodwill is valued at Rs 90,000 for which he compensated Amrita and Kalyani in the ratio 1 : 4. Following information is also provided:
  • Machinery : Rs 25,00,000
  • Land : Rs 10,00,000
  • Computer : Rs 2,50,000
  • Workmen compensation fund : Rs 5,30,000
Claim against workmen compensation is Rs 2,00,000 and goodwill appeared in the books at Rs 60,000.
What journal entry will be passed for goodwill appearing in the books?