Wages paid on for the erection of machinery is debited to

Related MCQs

• A few errors committed in Ahhiwalia's books of account are given below. State which errors would affect the Trial Balance. (a) Sales of `950 to Ram completely omitted from books of account (b) Purchases of `720 from Shyam entered in the purchases journal as `700 (c) Purchases Journal is overcast by `1,000 (d) Sales returns journal is undercast by `200 (e) Amount paid to Agarwal wrongly posted to the debit to Mittal's account (f) Bank overdraft shown under debit column in the Trial Balance (g) Sales of `500 to Sadiq entered in sales journal as sales to Mushtaq (h) Wages paid for installation of machinery debited to wages account
• XYZ Ltd. Paid wages of ` 8,000 for erection of machinery. The journal entry for the transaction is
• X purchased a new plant and machinery for ` 50,000 on 01.01.2012. The machinery was received in the factory on 10.01.2012 and was installed and put to use on 18.01.2012. Depreciation on the plant and machinery will commence from
• ` 500 paid as cartage on new Plant and Machinery, this was debited to Carriage Inward A/c. This is an error of-
• If Machinery Account is debited with the amount of repairs incurred on the machine, this is an example of
• Raw material and components purchased and used at the time of installation of new Plant and Machinery will be debited to
• The amount of depreciation charged on a machinery will be debited to:
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• When a machinery is purchased for cash, the cash balance is reduced and to that extent, the amount of machinery as an asset is recorded. This is done to follow which of the following accounting principles:
• The premium paid on the life policy of the proprietor is debited to