Question No 07 Chapter No 5 – USHA Publication 11 Class

Question No 07 Chapter No 5

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Feb. 3 Cash is withdrawn by the proprietor for personal use RS 30,000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Feb. 13 Goods are withdrawn by the proprietor for personal use RS 7,000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Feb.21 Cash is withdrawn from the bank for personal use RS 5,500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  (Being withdrawn for personal use)      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  (Being withdrawn for personal use)      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  (Being Cash withdrawn from bank for personal use)      
         

 

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. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Origin of Transactions

Chapter No. 4 – Vouchers and transactions

Chapter No. 5 – Journal

Chapter No. 6 – Accounting for Goods and Services Tax(GST)

Chapter No. 7 – Ledger

Chapter No. 8 – Cash Book

Chapter No. 9 – Other Subsidiary Books

Chapter No. 10 – Journal Proper

Chapter No. 11 – Trial Balance

Chapter No. 12 – Bank Reconciliation Statement

Chapter No. 13 – Depreciation

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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