Question 39 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 39 Chapter 5 of +2- Part-

Question 39 Chapter 5 of +2-Part-1

Free Accounting book Solution - Class 11 and Class 12

39. (Revaluation Entries) Record the folowing in Journal.
(a) A claim of Rs. 5,000 against the firm for late supply of goods was acknowledged.
(b) A claim of Rs. 5,000 by the firm for late payment by the customer was admitted.
(c) Commission earned Rs. 4,000 was not recorded.
(d) Commission payable to salesman ? Rs. 15,000 was not recorded.

The solution of Question 39 Chapter 5 of +2 Part-1: – 

Journal
Date Particulars
L.F. Debit Credit
           
a) Revaluation A/c Dr.   5,000  
  To claim outstanding A/c       5,000
  (Being claim admitted)      
         
b) Claim A/c Dr.   5,000  
  To Revaluation A/c       5,000
  (Being claim due from customer)        
           
c) Commission Accrued A/c Dr.   4,000  
  To Revaluation A/c       4,000
  (Being commission due)        
           
d) Revaluation A/c Dr.   15,000  
  To Commission due A/c       15,000
  (Being commission due)        
         

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Also, Check out the solved question of previous Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

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2 Book 1 min - Question 39 Chapter 5 of +2 Part-1 - USHA Publication 12 Class Part - 1
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firm

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