Question No 08 Chapter No 8

Question No 08 Chapter No 8

Journal Proper

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

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

The solution of Question No 08 Chapter No 8: –

Mar.1Furniture A/cDr. 15,000 
 To Kuber Furniture Store   15,000
 (Being started Furniture purchased on credit.)   
Mar.5Charity A/cDr. 6,000 
 To Purchases A/c  6,000
 (Being Goods given as charity)   
Mar.12Loss by Theft A/cDr. 8,000 
 To Purchases A/c  8,000
 (Being goods stolen)   
Mar.15Bad Debts A/cDr. 20,000 
 To Arun A/c  20,000
 (Being Arun was declared insolvent)   
Mar.18Drawings A/cDr. 15,000 
 To Purchases A/c  15,000
 (Being Goods withdrawn for personal use.)   
Mar.31Interest on Capital A/cDr. 30,000 
 To Capital A/c  30,000
 (Being Interest on capital allowed)   
Mar.31Prepaid Rent A/cDr. 5,000 
 To Rent A/c  5,000
 (Being Adjustment entry for prepaid rent)   
Mar.31Salary A/cDr. 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

Thanks, Please Like and share with your friends  

Comment if you have any question.

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

D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution

Check out the Accountancy Class +1 by D.K. Goal (Arya Publication) from their official Site.

ISC Accounts 11 20 Image min 197x300 - Question No 08 Chapter No 8 - D.K Goal 11 Class
D K Goel accountancy +1 – ISC_Accounts_11_20_Image



Leave a Reply

About us

About us, we are here to improve your knowledge in all financial & Business related topics and to get better carrier opportunities. The author has about 10-year Experience in tuition Business. It is very difficult to teach a large number of students with a personal touch or in a classroom. 

Animation's Resource websites

All Icons and images used on my website were downloaded from the following website please go and download free:-