Question No 11 Chapter No 7 – USHA Publication 11 Class

Q 11 CH 7 USHA 1 Book 2020 Solution min 1024x576 - Question No 11 Chapter No 7 - USHA Publication  11 Class

Question No 11 Chapter No 7

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 purchased furniture 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  (Being furniture withdrawn for personal use)      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
2018       2018      
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

 

What is Ledger – Explained with Example

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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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