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Now, educate yourself on the pros and cons, the tax implications, and the legal liabilities to determine if you want to remain a sole Paid club bill of the proprietor by cheque journal entries 1 See answer Tarchnagopal is waiting for your help. Add your answer and earn points. Paid club bill of the proptietor by cheque 1 See answer mohammedarshath69 is waiting for your help. Add your answer and earn points. A cheque is a written document whereby a person (the drawer) with available funds in a bank (the drawee bank) orders the latter to pay a specific sum to a designated person (the payee). The payee can be the drawer himself or a third party.

(v) A discounted Bill of Exchange for ₹ 20,000 returned by the firm’s bank had been credited to the Bank Account and debited to Bills Receivable Account. A cheque was received later from the customer for ₹ 20,000 and duly paid. (v) Paid a cheque of ₹ 2, 00,000 to the supplier for Plant and Machinery. (vi) ₹ 70,000 cash sales (of goods costing ₹ 50,000).

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Received a cheque for Rs. 4,400 from Mr. Udaya as payment on account. Jan. 31 Closing stock amounted to Rs Since a cheque is always payable on demand, there is no question of allowing any days of grace. 7.

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Jan 31 Paid salary to Motilal by Cheque Rs. 2,000 Jan 31 Paid Rent by cheque Rs. 1,500 Sona Ltd. purchased machinery costing ₹ 17,00,000 from Mona Ltd. Sona Ltd. paid 20% of the amount by cheque and for the balance amount issued Equity Shares of ₹ 100 each at a premium of 25%.

PAN Card of the proprietor. Proof of identity, address and activity of the concern (any two document which confirms Entity Name/ Address / Business) : Table 2. Download Net Worth Certificate Format for Individual/Proprietor A net worth certificate is a document that contains the net worth of an enterprise or an individual/ Proprietor. This consolidated document is mostly certified by the Chartered Accountant once scrutinizing of the records, book of accounts, assets and liabilities has been done. Passport size photo of the sole proprietor. Registered Office Address proof:-–Self-owned property – Copy of electricity bill, landline bill, water bill, municipal khata copy, property tax receipt –Rented property – Rent agreement and No objection certificate (NOC) from the owner of the rented property.
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A received ₹ 900 by cheque from B and drew on him a bill for the balance amount payable 3 months after date. The bill was duly accepted by B. A retained the bill till due date. On due date, the bill was paid. Pass Journal entries in the books of A and B. hello sir mami am paid traveling expense on behalf of my friend Chirag now I get cheque from Chirag for that paymentwhat is the journal entry for thatregards - Accounts Jan 22 Purchased goods from Gopal and paid by cheque Rs. 8,000 Jan 24 Sold half of the above goods to Chanderkant at a profit of 30% on cost.

(vii) Paid ₹ 25,000 to Yogesh by cheque on account. (viii) Purchased goods costing ₹ 1,00,000 against cheque and availed discount of 3%. (ix) Purchased goods costing ₹ 60,000 from Akash & Co., paid 50% immediately availing 3% discount. (x) Sold goods of ₹ 30,000 against cheque allowing 2% discount.
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Commission paid ₹ 3,000 by cehque. Telephone bill paid by cheque ₹ 2,000. Is a wife (proprietor) liable for the cheque issued by man (GPAholder) answered by expert cheque-bounce lawyer.