Answer:
Such expenses are variable, as they can fluctuate based on living circumstances.
Answer:
Explanation:
The journal entry serves as a documentation of transactions corresponding to their accounts utilizing the debit and credit framework. A debit signifies an increase while a credit denotes a decrease.
S / NO Particulars Debit Credit
1 Cash 200,000
Share stock 200,000
2 Inventory 483,000
Account payable 483,000
3. Account receivable 675,000
Sales 675,000
Cost of goods sold 405,000
Inventory 405,000
4 Cash 562,000
Account receivable 562,000
5 Account payable 431,000
Cash 431,000
6 Motor Vehicle 39,000
Cash 39,000
7 Rent 25,200
Prepaid rent 2,100
Cash 27,300
8 Operating Expenses 20,000
Cash 18,000
Operating expenses payable 2,000
9 Depreciation 2,000
Motor Vehicle 2,000
10 Dividends payable 8,500
Cash 8,500
