Vas Enterprises operates an integral system of accounting. You are required to pass journal entries…

Vas Enterprises operates an integral system of accounting. You are required to pass journal entries in the books of Vas Enterprises for the following transactions that took place for the year ended 31 March 2010. (Narrations need not be given.)

Raw materials purchased (50% on credit)

10,00,000

Materials issued to production

6,00,000

Wages paid (50% Direct)

3,00,000

Wages charged to production

1,60,000

Factory overheads incurred

90,000

Factory overheads charged to production

1,40,000

Selling and distribution overheads incurred

60,000

Finished goods at cost

9,00,000

Sales (50% credit)

12,00,000

Closing stock

nil

Receipts from debtors

3,00,000

Payments to creditors

3,00,000

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