Question No 08 Chapter No 8 – D.K Goal 11 Class

Question No 08 Chapter No 8
Q-08 - CH-8 - D.K Goal +1 Book 2020 - Solution

Question No 08 Chapter No 8

Journal Proper

Free Accounting book Solution - Class 11 and Class 12

08. Enter the following transactions in the ‘Journal Proper’ of Karuna Store

Mar.1 Purchased furniture on credit from Kuber Furniture Store for 15,000.
Mar.5 Goods for 6,000 given away as charity
Mar.12 Goods worth 8,000 and Cash 4,000 were stolen by an employee
Mar.15 Arun who owed us 20,000 was declared insolvent and nothing was received from him. 
Mar.18 Proprietor withdrew for his personal use cash 5,000 and goods worth 10,000.
Mat.31 Provide interest on capital of 5,00,000 at 6% p.a. for a full year.
Mar.31 Out of the rent paid this year, 5,000 is related to the next year.
Mar.31 Salaries due to clerks 12,000. 

The solution of Question No 08 Chapter No 8: –

Date Particulars
L.F. Debit Credit
Mar.1 Furniture A/c Dr.   15,000  
  To Kuber Furniture Store       15,000
  (Being started Furniture purchased on credit.)      
Mar.5 Charity A/c Dr.   6,000  
  To Purchases A/c     6,000
  (Being Goods given as charity)      
Mar.12 Loss by Theft A/c Dr.   8,000  
  To Purchases A/c     8,000
  (Being goods stolen)      
Mar.15 Bad Debts A/c Dr.   20,000  
  To Arun A/c     20,000
  (Being Arun was declared insolvent)      
Mar.18 Drawings A/c Dr.   15,000  
  To Purchases A/c     15,000
  (Being Goods withdrawn for personal use.)      
Mar.31 Interest on Capital A/c Dr.   30,000  
  To Capital A/c     30,000
  (Being Interest on capital allowed)      
Mar.31 Prepaid Rent A/c Dr.   5,000  
  To Rent A/c     5,000
  (Being Adjustment entry for prepaid rent)      
Mar.31 Salary A/c Dr.   12,000  
  To Outstanding Salary A/c     12,000
  (Being 60 Pasise in a rupee recovered on insolvency)      

Note: Cash transactions will not be recorded in Journal Proper.

Journal Proper | Subsidiary Books | Examples

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