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Question 37 Chapter 4 – Unimax Publications of Class 11
37, Journalise the following transactions: 81
(a) Goods worth Rs. 2,600 were given away as charity.
(b)Goods worth Rs. 1,400 were distributed as free samples.
(c) Goods worth Rs. 1,500 were used by proprietor for his personal use.
(d) Goods worth Rs. 6,000 were destroyed by fire and the insurance company admitted claim of Rs. 4,200.
(e) Goods worth Rs. 6,000 were destroyed in a fire. Stock of goods was insured against. fire to the extent of 90% of their value. Insurance company paid proportionate claim in cash.
(f) Goods uninsured worth Rs. 3,600 were destroyed by fire.
JOURNAL
| Date | Particulars | L.F. | Debit | Credit | |
|---|---|---|---|---|---|
| (a) | Charity A/c | Dr. | 2,600 | ||
| To Purchases A/c | 2,600 | ||||
| (Being goods given away as charity) | |||||
| (b) | Advertisement A/c | Dr. | 1,400 | ||
| To Purchases A/c | 1,400 | ||||
| (Being goods given away as free samples) | |||||
| (c) | Drawings A/c | Dr. | 1,500 | ||
| To Purchases A/c | 1,500 | ||||
| (Being goods withdrawn for personal use) | |||||
| (d) | Insurance Claim A/c | Dr. | 4,200 | ||
| Loss by fire A/c | Dr. | 1,800 | |||
| To Purchases A/c | 6,000 | ||||
| (Being goods destroyed by fire and insurance company admitted claim of 4,200) | |||||
| (e) | Cash A/c | Dr. | 5,400 | ||
| Loss by fire A/c | Dr. | 600 | |||
| To Purchases A/c | 6,000 | ||||
| (Being goods lost.by fire and insurance company admitted claim of 90% value and received by cash) | |||||
| (f) | Loss by fire A/c | Dr. | 3,600 | ||
| To Purchases A/c | 3,600 | ||||
| (Being goods lost by fire which were not insured) | |||||
| Grand Total | 21,100 | 21,100 | |||
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
This guide covers "Question 37 Chapter 4 – Unimax Publications of Class 11", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Unimax Accountancy Class 11 - 2023.
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