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Question No 23 Chapter No 5 - Usha
Borrowing/Lending of Money
23. Record the following transaction in the book of Priyanka:
| 2018 | |
| Apr. 1 | Borrowed Rs 1,20,000 from Sanjana |
| Apr. 11 | Lent Rs 1,80,000 to Sanjeet |
| Apr. 18 | Repaid Rs 95,000 to Sanjana |
| Apr. 19 | Sanjeet repaid Rs 1,18,000 |
| Apr. 30 | Borrowed Rs 44,000 from Priyanka’s Brother Rahul @ 10% interest |
In the Books of Priyanka
| Date | Particulars |
L.F. | Debit | Credit | |
|---|---|---|---|---|---|
| 2018 | |||||
| Apr.1 | Cash A/c | Dr. | 1,20,000 | ||
| To Sanjana’s Loan A/c | 1,20,000 | ||||
| (Being cash borrowed .) | |||||
| Apr.11 | Loan to Sanjeet A/c | Dr. | 1,80,000 | ||
| To Cash A/c | 1,80,000 | ||||
| (Being money lent) | |||||
| Apr.18 | Sanjana’s Loan A/c | Dr. | 95,000 | ||
| To Cash A/c | 95,000 | ||||
| (Being borrowed money repaid) | |||||
| Apr.19 | Cash A/c | Dr. | 1,18,000 | ||
| To Loan to Sanjeet A/c | 1,18,000 | ||||
| (Being let money received back ) | |||||
| Apr.30 | Cash A/c | Dr. | 44,000 | ||
| To 10% Rahul’s Loan A/c | 44,000 | ||||
| (Being cash borrowed @ 10% interest.) | |||||
This is all about the Question No 23 Chapter No 5 - Usha.
You can check out the following article to better understand:
How to make Journal Entries in Accounting – Explanation
You Can also read all above articles in Hindi on our Hindi Website
How to make Journal Entries in Accounting – in Hindi
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You can also Check out the solved question of other Chapters: -
Chapter No. 2 - Theory Base of Accounting
Chapter No. 3 - Origin of Transactions
Chapter No. 4 - Vouchers and transactions
Chapter No. 6 - Accounting for Goods and Services Tax(GST)
Chapter No. 9 - Other Subsidiary Books
Chapter No. 10 - Journal Proper
Chapter No. 11 - Trial Balance
Chapter No. 12 - Bank Reconciliation Statement
Chapter No. 14 - Provisions and Reserves
Chapter No. 15 - Bills of Exchange
Chapter No. 16 - Rectification of Errors
Chapter No. 17 - Financial Statements - (Without Adjustments)
Chapter No. 18 - Financial Statements - (With Adjustments)
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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 No 23 Chapter No 5 - USHA Publication 11 Class", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to USHA Publication +1 Elements of Book-Keeping.
It is primarily curated for Class 11 and Class 12 high school commerce, accounting, and economics students, as well as aspirants preparing for board exams or CA Foundation.
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