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Question No 05 Chapter No 5
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5. Record the following transactions in the book of C.K Prahalad:
| 2015 | |
| Apr-01 | Prahalad commenced business with cash Rs 2,40,000 |
| Apr-04 | Cash withdraw from the business for personal use Rs 18,500 |
| Apr-10 | Additional capital introduced in the business Rs 24,800 |
| Apr-15 | Life insurance premium paid RS 11,000 |
| Apr-20 | Personal car introduced in the business Rs 4,50,000 |
The solution of Question No 05 Chapter No 5: –
| In the Books of C.K. Prahalad | |||||
| Date | Particulars | L.F. | Debit | Credit | |
| 2015 | |||||
| Apr.1 | Cash A/c | Dr. | 2,40,000 | ||
| To Capital A/c | 2,40,000 | ||||
| (Being business Started with cash.) | |||||
| Apr.4 | Drawings A/c | Dr. | 18,500 | ||
| To Cash A/c | 18,500 | ||||
| (Being Cash withdrawn for personal use) | |||||
| Apr.10 | Cash A/c | Dr. | 24,800 | ||
| To Capital A/c | 24,800 | ||||
| (Being additional capital introduced) | |||||
| Apr.15 | Drawings A/c | Dr. | 11,000 | ||
| To Cash A/c | 11,000 | ||||
| (Being life insurance premium paid) | |||||
| Apr.20 | Car A/c | Dr. | 450000 | ||
| To Capital A/c | 450000 | ||||
| (Being personal car introduced into the business) | |||||
How to make Journal Entries in Accounting – Explanation
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Also, Check out the solved question of all Chapters: –
Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution
Chapter No. 2 – Theory Base of Accounting
Chapter No. 3 – Origin of Transactions
Chapter No. 4 – Vouchers and transactions
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Chapter No. 6 – Accounting for Goods and Services Tax(GST)
Chapter No. 9 – Other Subsidiary Books
Chapter No. 10 – Journal Proper
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Chapter No. 11 – Trial Balance
Chapter No. 12 – Bank Reconciliation Statement
Chapter No. 14 – Provisions and Reserves
Chapter No. 15 – Bills of Exchange
Chapter No. 16 – Rectification of Errors
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Chapter No. 17 – Financial Statements – (Without Adjustments)
Chapter No. 18 – Financial Statements – (With Adjustments)