Prepare Journal from the transactions given below:
| (a) | Cash paid for installation of machine | ₹ 500 |
| (b) | Goods given as charity | ₹ 2,000 |
| (c) | Interest charge on capital @7% p.a. when total capital were | ₹ 70,000 |
| (d) | Received ₹ 1,200 of a bad debts written-off last year | |
| (e) | Goods destroyed by fire | ₹ 2,000 |
| (f) | Rent outstanding | ₹ 1,000 |
| (g) | Interest on drawings | ₹ 900 |
| (h) | Sudhir Kumar who owed me ₹ 3,000 has failed to pay the amount. He pays me a compensation of 45 paise in a rupee. | |
| (i) | Commission received in advance | ₹ 7,000 |
Journal
| S.No | Particulars | L.F. | Debit Amount Rs | Credit Amount Rs |
| (a) | Machinery A/c | Dr. | 500 | |
| To Cash A/c | 500 | |||
| (Cash paid for installation of machinery) | ||||
| (b) | Charity A/c | Dr. | 2,000 | |
| To Purchase A/c | 2,000 | |||
| (Goods given as charity) | ||||
| (c) | Interest on Capital A/c | Dr. | 4,900 | |
| To Capital A/c | 4,900 | |||
| (Interest on capital charged @ 7% p.a) | ||||
| (d) | Cash A/c | Dr. | 1,200 | |
| To Bad Debt Recovered A/c | 1,200 | |||
| (Cash received on from debtors which was previously written off as bad) | ||||
| (e) | Goods Destroyed by Fire A/c | Dr. | 2,000 | |
| To Purchases A/c | 2,000 | |||
| (Goods destroyed by fire) | ||||
| (f) | Rent A/c | Dr. | 1,000 | |
| To Rent Oustanding A/c | 1,000 | |||
| (Rent due but not paid) | ||||
| (g) | Drawing A/c | Dr. | 900 | |
| To Interest on Drawing A/c | 900 | |||
| (Interest allowed on drawing) | ||||
| (h) | Cash A/c | Dr. | 1,350 | |
| Bad Debt A/c | Dr. | 1,650 | ||
| To Sudhir Kumar | 3,000 | |||
| (Sudhir Kumar declared insolvent and cash received from him 45 paise in a rupee in full settlement) | ||||
| (i) | Commission A/c | Dr. | 7,000 | |
| To Commission Received in Advance A/c | 7,000 | |||
| (Commission received in advice) | ||||
| Cash A/c | Dr. | 7,000 | ||
| To Commission Received in Advice | 7,000 | |||
| (Commission received in Advice) | ||||
| Total | 22,500 | 22,500 |
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