Question No 08 Chapter No 5 - USHA Publication 11 Class

Question No 08 Chapter No 5

Table of Contents

8. Journalese the following transaction in the book of Sushma:

2015
Mar. 1	Sushma started the business with bank balance Rs 4,00,000
Mar. 4	Paid for holiday trip of Sushma’s family from the bank RS 95,000
Mar. 6	Income tax paid by cheque Rs 19,000
Mar. 10	Further cash introduced by proprietor into the business Rs 55,000
Mar. 14	Rent of the residence of the proprietor paid from his own pocket Rs 14,500
Mar. 18	Personal cash paid for the purchase of furniture for the business RS 18,000
Mar. 22	Purchased A.C for the personal use and payment made from the business bank account Rs 24,000
Mar. 26	Goods are withdrawn for the personal use Rs 9,000
Mar.30	Rent received on business account deposited in personal bank account Rs 40,000

The solution of Question No 08 Chapter No 5: –

In the Books of Sushma
Date	Particulars		L.F.	Debit	Credit
2015
Mar.1	Bank A/c	Dr.		4,00,000
	To Capital A/c				4,00,000
	(Being business started with Bank balance.)

Mar.4	Drawings A/c	Dr.		95,000
	To Cash A/c				95,000
	(Being expenses paid from a business )

Mar.6	Drawings A/c	Dr.		19,000
	To Bank A/c				19,000
	(Being income tax paid by cheque )

Mar.10	Cash A/c	Dr.		55,000
	To Capital A/c				55,000
	(Being Additional Capital introduced into business )

Mar.14	No Entry

Mar.18	Furniture A/c	Dr.		18,000
	To Capital A/c				18,000
	(Being Personal cash paid for the purchase for furniture )

Mar.22	Drawings A/c	Dr.		24,000
	To Bank A/c				24,000
	(Being For personal A.C. payment made from bank )

Mar.26	Drawings A/c	Dr.		9,000
	To Purchase A/c				9,000
	(Being withdrawn from personal use)

Mar.30	Drawing A/c	Dr.		40,000
	To Rent Received A/c				40,000
	(Being Rent received on business account deposited in personal bank A/c)