Question No 08 Chapter No 5 – USHA Publication 11 Class

Question No 08 Chapter No 5

Question No 08 Chapter No 5

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Mar. 26 Goods are withdrawn for the personal use Rs 9,000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  (Being withdrawn from personal use)      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)      
         

 

How to make Journal Entries in Accounting – Explanation

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Also, Check out the solved question of all Chapters: –

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Vouchers and transactions

Chapter No. 4 – Journal

Chapter No. 5 – Ledger

Chapter No. 6 – Cash Book

Chapter No. 7 – Other Subsidiary Books

Chapter No. 8 – Journal Proper

Chapter No. 9 – Trial Balance 

Chapter No. 10 – Bank Reconciliation Statement

Chapter No. 11 – Depreciation

Chapter No. 12 – Provisions and Reserves 

Chapter No. 13 – Bills of Exchange

Chapter No. 14 – Rectification of Errors 

Chapter No. 15 – Financial Statements – (Without Adjustments)

Chapter No. 16 – Financial Statements – (With Adjustments)

 

 

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