Following transactions of a government office are given: [5]Poush 2: Received bank order of Rs. 4,00,000 and budget release order of Rs. 4,50,000 for the expenditure of last month.Poush 5: Issued a cheque of Rs. 20,000 to Mr Pokharel as advance to purchase a machine.Poush 10: Mr. Pokharel submitted the machine purchase bill of Rs. 15,000 and bank voucher of Rs. 5,000 to clear his advance.Required: Journal Voucher
Question
Following transactions of a government office are given: [5]Poush 2: Received bank order of Rs. 4,00,000 and budget release order of Rs. 4,50,000 for the expenditure of last month.Poush 5: Issued a cheque of Rs. 20,000 to Mr Pokharel as advance to purchase a machine.Poush 10: Mr. Pokharel submitted the machine purchase bill of Rs. 15,000 and bank voucher of Rs. 5,000 to clear his advance.Required: Journal Voucher
Solution
The Journal Voucher would look like this:
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Poush 2: Debit: Bank Account Rs. 4,00,000 Credit: Government Office Account Rs. 4,00,000 (Bank order received)
Debit: Expenditure Account Rs. 4,50,000 Credit: Government Office Account Rs. 4,50,000 (Budget release order for last month's expenditure)
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Poush 5: Debit: Advance to Mr. Pokharel Rs. 20,000 Credit: Bank Account Rs. 20,000 (Issued a cheque to Mr. Pokharel for machine purchase)
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Poush 10: Debit: Machine Purchase Rs. 15,000 Credit: Advance to Mr. Pokharel Rs. 15,000 (Machine purchase bill submitted by Mr. Pokharel)
Debit: Bank Account Rs. 5,000 Credit: Advance to Mr. Pokharel Rs. 5,000 (Bank voucher submitted by Mr. Pokharel to clear his advance)
Please note that the above entries are based on the assumption that the government office follows the accrual basis of accounting.
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