Narration is written just above an entry.

True

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False

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Solution

The correct option is B False
A brief about the journal entry is written after every journal entry to give the transaction details about the journal entry.

This can be shown as:

Sanjay & Co. Dr.
To Sales A/c
(Being goods sold on credit through sales Invoice No. 07/18-19 to Sanjay & Co.)

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Similar questions


S. No.	Particulars		L.F.	Amount Dr. (₹)	Amount Cr. (₹)
(i)		Dr.
		Dr.
	To
	(Goods of the list price of ₹ 5,000 sold at 10% trade discount and 2% cash discount)

(ii)
	(The purchase of Motor Car for ₹ 80,000 and the payment of ₹ 5,000 as repairs charges on it. Entire payment is made by cheque)

(iii)	Chaturvedi’s	Dr.		5,000
	To Cash A/c
	To
	(Chaturvedi’s account settled, cash discount three percent)

(iv)	Bank A/c	Dr.
		Dr.
	To				8,400
	(70 paise per rupee received from the estate of Ashok on his insolvency)

(v)		Dr.		3,000
	To				3,000
	(For goods used by proprietor for personal use)

(vi)		Dr.		2,000
	To				2,000
	(For Rent due to landlord)

3 x + 2 y = 5, 2 x - 3 y = 7


Date	Particulars		L.F.	Amount Dr. (Rs)	Amount Cr. (Rs)
2017
May 04	Building A/c	Dr.		5,00,000
	Brokerage A/c	Dr.		10,000
	To Bank A/c				5,10,000
	(Purchase of building and payment of brokerage on its purchase)

May 10	Drawings A/c	Dr.		12,000
	To Sales A/c				12,000
	(Goods taken away by the proprietor for personal use)

May 16	Filing Cabinet A/c	Dr.		4,000
	Electric Fan A/c	Dr.		2,500
	To Cash A/c				6,500
	(Purchase of filing cabinet and an electric fan)

May 18	Cash A/c	Dr.		8,730
	To Sales A/c				8,730
	(Goods worth ₹ 10,000 sold at 10% trade discount and 3% cash discount)

May 20	Bank A/c	Dr.		10,000
	To Naresh				10,000
	(Receipt of 25 paise per rupee from the estate of Naresh who is declared insolvent)

May 31	Bank Charges A/c	Dr.		150
	To Cash A/c				150
	(Charges made by bank for its services)

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