Question 39 Chapter 4 – Unimax Publications of Class 11

Question 39 Chapter 4 – Unimax Publications of Class 11

39. Pass journal entries in the following cases:
(i) Salaries to staff Rs. 20,000 are outstanding.
(ii) Salary due in Dec. 2020 were paid in January 2021 Rs. 2,500.
(iii), Interest accrued in Dec. 2020 amounting to Rs. 3,500 received in Jan., 2021
(iv) Received an advance of Rs. 2,500 from Sahil against their order for supply of goods.
(v) Paid rent Rs. 5000 for next year.

The solution of Question 39 Chapter 4 – Unimax Publications of Class 11:

JOURNAL

Date	Particulars		L.F.	Debit	Credit
2021
(i)	Salaries A/c	Dr.		20,000
	To Outstanding Salaries A/c				20,000
	(Being salaries to staff are outstanding)
(ii)	Outstanding Salaries A/c	Dr.		2,500
	To Cash A/c				2,500
	(Being outstanding salary paid in cash)
(iii)	Cash A/c	Dr.		3,500
	To Accrued Interest A/c				3,500
	(Being interest for previous month received next month in Cash)
(iv)	Cash A/c	Dr.		2,500
	To Sahil A/c				2,500
	(Being cash received in advance against supply of Goods)
(v)	Prepaid Rent A/c	Dr.		5,000
	To Cash A/c				5,000
	(Being rent paid for next year)
	Grand Total			33,500	33,500