Question 37 Chapter 4 – Unimax Publications of Class 11

Q37 - CH-4 Solution

Question 37 Chapter 4 – Unimax

Free Accounting book Solution - Class 11 and Class 12

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
2021          
(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  (Being goods withdrawn for personal use)        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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Opening Journal Entry – its Rules and Examples – In Hindi

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You can also Check out the solved question of other Chapters: –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Part-I

  • 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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