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Question No 11 Chapter No 7
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11. Pass journal entries and prepare only Furniture Account:
| 2019 | Rs | |
| Jan. 1 | Purchased furniture for cash from Akhil | 18,000 |
| Jan. 15 | Purchased furniture on credit from Sumesh | 12,000 |
| Jan. 26 | Depreciate furniture | 250 |
| Jan. 28 | Furniture withdrew for personal use. | 1,000 |
| Jan. 31 | Furniture coating Rs 4,000 sold for Rs 4,600 |
The solution of Question No 11 Chapter No 7: –
| Date | Particulars | L.F. | Debit | Credit | |
| 2018 | |||||
| Jan.1 | Furniture A/c | Dr. | 18,000 | ||
| To Cash A/c | 18,000 | ||||
| (Being furniture purchased on cash ) | |||||
| Jan.15 | Furniture A/c | Dr. | 12,000 | ||
| To Sumesh A/c | 12,000 | ||||
| (Being furniture purchased from sumesh) | |||||
| Jan.26 | Depreciation A/c | Dr. | 250 | ||
| To Furniture A/c | 250 | ||||
| (Being depreciation charged on furniture) | |||||
| Jan.28 | Drawing A/c | Dr. | 1,000 | ||
| To Furniture A/c | 1,000 | ||||
| (Being furniture withdrawn for personal use) | |||||
| Jan.31 | Cash A/c | Dr. | 4,600 | ||
| To Furniture A/c | 4,000 | ||||
| To Profit on sale of furniture A/c | 600 | ||||
| (Being sold goods for cash) | |||||
| Dr. | Furniture A/c | Cr. | |||||
| Date | Particulars | J.F. | Amount | Date | Particulars | J.F. | Amount |
| 2019 | 2019 | ||||||
| Jan. 1 | To Cash A/c | 18,000 | Jan. 26 | By Depreciation A/c | 250 | ||
| Jan. 15 | To Sumesh A/c | 12,000 | Jan. 28 | By Drawing A/c | 1,000 | ||
| Jan. 31 | By Cash A/c | 4,000 | |||||
| Jan. 30 | By Balance c/d | 24,750 | |||||
| 30,000 | 30,000 | ||||||
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Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution
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. 6 – Accounting for Goods and Services Tax(GST)
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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. 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)