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

Question 39 Chapter 5 of +2-Part-1

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

• Chapter No. 1 – Accounting Not for Profit Organisations
• Chapter No. 2 – Partnership Accounts – I (Introduction)
• Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
• Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
• Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
• Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
• Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
• Chapter No. 8 – Company Accounts (Share Capital)
• Chapter No. 9 – Company Accounts (Issue of Debentures)
• Chapter No. 10 – Company Accounts (Redemption of Debentures)

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

• Chapter No. 1 – Financial Statements of a Company
• Chapter No. 2 – Financial Statement Analysis
• Chapter No. 3 –  Tools of Financial Statement Analysis- Comparative and Common Size
• Chapter No. 4 – Ratio Analysis
• Chapter No. 5 – Cash Flow Statement

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