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Question 9 Chapter 4 - Unimax
9. Record the following transactions in the books of Simran.
2021
Mar. 1 Borrowed Rs. 1,00,000 from Bank @ 10% interest.
Mar. 2 Borrowed Rs. 50,000 from Sunil.
Mar. 10 Repaid Rs. 25,000 to Sunil.
Mar. 15 Lent Rs. 1,00,000 to Rahul.
Mar. 18 Borrowed Rs. 44,000 from Simran's brother Jaideep @ 10% interest.
Mar. 20 Rahul Repaid Rs. 50,000.
JOURNAL OF SIMRAN
| Date | Particulars | L.F. | Debit | Credit | |
|---|---|---|---|---|---|
| 2021 | |||||
| Mar. 1 | Cash A/c | Dr. | 1,00,000 | ||
| To Loan from bank A/c | 1,00,000 | ||||
| (Being cash borrowed from bank) | |||||
| Mar. 2 | Cash A/c | Dr. | 50,000 | ||
| To Sunil A/c | 50,000 | ||||
| (Being cash borrowed from Sunil) | |||||
| Mar. 10 | Sunil A/c | Dr. | 25,000 | ||
| To Cash A/c | 25,000 | ||||
| (Being repaid to Sunil) | |||||
| Mar. 15 | Loan to Rahul A/c | Dr. | 1,00,000 | ||
| To Cash A/c | 1,00,000 | ||||
| (Being cash lent to Rahul) | |||||
| Mar. 18 | Cash A/c | Dr. | 44,000 | ||
| To Loan from Jaideep A/c | 44,000 | ||||
| (Being loan taken from his brother Jaideep @ 10% interest) | |||||
| Mar. 20 | Cash A/c | Dr. | 50,000 | ||
| To Rahul A/c | 50,000 | ||||
| (Being cash repaid to Rahul) |
This is all about the Question 9 Chapter 4 - Unimax. You can check out the following article to better understand:
Opening Journal Entry – its Rules and Examples
You Can also read all above articles in Hindi on our Hindi Website
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.
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