Question No 07 Chapter No 5
7. Journalese the following transaction in the book of Reveena:
2015 | |
Feb. 1 | Ravi commenced business with cash Rs 2,50,000 |
Feb. 3 | Cash is withdrawn by the proprietor for personal use RS 30,000 |
Feb. 7 | Additional capital introduced in the business Rs 80,000 |
Feb. 9 | Personal car introduced in the business Rs 3,00,000 |
Feb. 11 | Life insurance premium paid Rs 9,000 |
Feb. 13 | Goods are withdrawn by the proprietor for personal use RS 7,000 |
Feb. 17 | Books for proprietor’s daughter purchased from the business bank Account Rs 3,500 |
Feb. 19 | Rent of the showroom paid from the personal bank account of the proprietor RS 21,000 |
Feb.21 | Cash is withdrawn from the bank for personal use RS 5,500 |
The solution of Question No 07 Chapter No 5: –
In the Books of Reveena | |||||
Date | Particulars |
L.F. | Debit | Credit | |
2014 | |||||
Feb.1 | Cash A/c | Dr. | 2,50,000 | ||
To Capital A/c | 2,50,000 | ||||
(Being business started with cash.) | |||||
Feb.3 | Drawings A/c | Dr. | 30,000 | ||
To Cash A/c | 30,000 | ||||
(Being withdrawn for personal use) | |||||
Feb.7 | Cash A/c | Dr. | 80,000 | ||
To Capital A/c | 80,000 | ||||
(Being additional capital introduced ) | |||||
Feb.9 | Motor Vehicle A/c | Dr. | 3,00,000 | ||
To Capital A/c | 3,00,000 | ||||
(Being Car introduced into a business ) | |||||
Feb.11 | Drawings A/c | Dr. | 9,000 | ||
To Cash A/c | 9,000 | ||||
(Being life insurance premium paid in cash) | |||||
Feb.13 | Drawings A/c | Dr. | 7,000 | ||
To Purchase A/c | 7,000 | ||||
(Being withdrawn for personal use) | |||||
Feb.17 | Drawings A/c | Dr. | 3,500 | ||
To Bank A/c | 3,500 | ||||
(Being personal expenses paid from a business bank account) | |||||
Feb.19 | Rent A/c | Dr. | 21,000 | ||
To Capital A/c | 21,000 | ||||
(Being Rent of showroom paid from a personal bank account) | |||||
Feb..21 | Drawing A/c | Dr. | 5,500 | ||
To Bank A/c | 5,500 | ||||
(Being Cash withdrawn from bank for personal use) | |||||
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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
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Chapter No. 4 – Vouchers and transactions
Chapter No. 6 – Accounting for Goods and Services Tax(GST)
Chapter No. 9 – Other Subsidiary Books
Chapter No. 10 – Journal Proper
Chapter No. 11 – Trial Balance
Chapter No. 12 – Bank Reconciliation Statement
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Chapter No. 14 – Provisions and Reserves
Chapter No. 15 – Bills of Exchange
Chapter No. 16 – Rectification of Errors
Chapter No. 17 – Financial Statements – (Without Adjustments)
Chapter No. 18 – Financial Statements – (With Adjustments)
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