Question 37 Chapter 4 - Unimax Publications of Class 11

Question 37 Chapter 4 – Unimax

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The solution of Question 37 Chapter 4 – Unimax:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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.

The solution of Question 37 Chapter 4 – Unimax:

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	(Being goods withdrawn for personal use)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

This is all about the Question 37 Chapter 4 – Unimax. You can check out the following article to better understand:

Opening Journal Entry – its Rules and Examples

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Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Part-I

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Chapter No. 1 – Introduction of Accounting
Chapter No. 2 – Theory Base of Accounting
Chapter No. 3 – Vouchers and Transactions
Chapter No. 4 – Journal
Chapter No. 5 – Goods and Services Tax (GST) : An Introduction
Chapter No. 6 – Ledger
Chapter No. 7 – Special Purpose Book – Cash Book
Chapter No. 8 – Other Subsidiary Books
Chapter No. 9 – Trial Balance
Chapter No. 10 – Rectification of Errors
Chapter No. 11 – Depreciation
Chapter No. 12 – Provision and Reserves
Chapter No. 13 – Bank Reconlciliation Statement
Chapter No. 14 – Bills of Exchange

Students may Choose only one part from the Part II and Part III

Part-II

Chapter No. 15 – Financial Statements (Without Adjustments)
Chapter No. 16 – Financial Statements (With Adjustments)
Chapter No. 17 – Accounts from Incomplete Records – Single Entry System

Part-III

Chapter No. 18 – Introduction to Compurters and Accounting information System
Chapter No. 19 – Computerised Accounting
Chapter No. 20 – Accounting Software : Tally
Chapter No. 21 – Data Base System
Chapter No. 22 – Concept of Entity and Relationship

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Question 37 Chapter 4 – Unimax Publications of Class 11

The solution of Question 37 Chapter 4 – Unimax:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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