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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
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Pass Journal entries for the following adjustments on 31st March, 2025:
| Date | Particulars | L.F. | Dr. (₹) | Cr. (₹) |
|---|---|---|---|---|
| (i) | Accrued Interest A/c Dr. To Interest Received A/c (Being interest due but not yet received) | 10,000 | 10,000 | |
| (ii) | Salaries A/c Dr. To Outstanding Salaries A/c (Being salaries due to staff) | 50,000 | 50,000 | |
| (iii) | Prepaid Rent A/c Dr. To Rent A/c (Being rent paid for next year transferred to prepaid rent) | 5,000 | 5,000 | |
| (iv) | Depreciation A/c Dr. To Provision for Depreciation A/c (Being 10% depreciation provided on furniture ₹1,00,000) | 10,000 | 10,000 | |
| (v) | Furniture A/c Dr. To Purchases A/c (Being goods at cost used for making furniture (at cost price)) | 4,000 | 4,000 | |
| (vi) | Bank A/c Dr. To Commission Received A/c To Unearned Commission A/c (Being commission ₹20,000 received by cheque; half in advance) | 20,000 | 10,000 10,000 | |
| (vii) | Interest on Capital A/c Dr. To Capital A/c (Being interest on capital allowed) | 8,000 | 8,000 | |
| (viii) | Capital A/c Dr. To Interest on Drawings A/c (Being interest on drawings charged) | 1,500 | 1,500 |
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 "Q.No.11 | Chapter 8 – Journal | T.S. Grewal Solution 2025-26", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Textbook Solution.
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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