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Question No 08 Chapter No 5 – USHA Publication 11 Class

Question No 08 Chapter No 5
Q-08 - CH-5 - USHA +1 Book 2020 - Solution

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Question No 08 Chapter No 5

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

2015 
Mar. 1Sushma started the business with bank balance Rs 4,00,000
Mar. 4Paid for holiday trip of Sushma’s family from the bank RS 95,000
Mar. 6Income tax paid by cheque Rs 19,000
Mar. 10Further cash introduced by proprietor into the business Rs 55,000
Mar. 14Rent of the residence of the proprietor paid from his own pocket Rs 14,500
Mar. 18Personal cash paid for the purchase of furniture for the business RS 18,000
Mar. 22Purchased A.C for the personal use and payment made from the business bank account Rs 24,000
Mar. 26Goods are withdrawn for the personal use Rs 9,000
Mar.30Rent 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.DebitCredit
2015     
Mar.1Bank A/cDr. 4,00,000 
 To Capital A/c   4,00,000
 (Being business started with Bank balance.)   
     
Mar.4Drawings A/cDr. 95,000 
 To Cash A/c   95,000
 (Being expenses paid from a business )   
      
Mar.6Drawings A/cDr. 19,000 
 To Bank A/c  19,000
 (Being income tax paid by cheque )   
     
Mar.10Cash A/cDr. 55,000 
 To Capital A/c  55,000
 (Being Additional Capital introduced into business )   
     
Mar.14No Entry    
     
Mar.18Furniture A/cDr. 18,000 
 To Capital A/c  18,000
 (Being Personal cash paid for the purchase for furniture )   
     
Mar.22Drawings A/cDr. 24,000 
 To Bank A/c  24,000
 (Being For personal A.C. payment made from bank )   
     
Mar.26Drawings A/cDr. 9,000 
 To Purchase A/c  9,000
 (Being withdrawn from personal use)   
     
Mar.30Drawing A/cDr. 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: –

 

Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

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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

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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 

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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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