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Question No 14 Chapter No 5
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14. Journalese the following transaction in the journal of Ashish :
| 2017 | |
| Mar. 1 | Ashish started the business with cash Rs 1,00,000 |
| Mar. 3 | Rent of the residence of a proprietor paid Rs 10,000 |
| Mar. 5 | Paid Rs 6,000 to Yogender for commission |
| Mar. 9 | Received Rs 12,000 from Arvind on account |
| Mar. 11 | Received Rs 7,000 from Kiran for interest |
| Mar. 13 | Additional capital introduced in the business Rs 50,000 |
| Mar. 19 | Withdrew cash Rs 11,000 from the business for personal use. |
| Mar. 21 | Paid to Gopal on account Rs 9,000 |
The solution of Question No 14 Chapter No 5: –
| In the Books of Ashish | |||||
| Date | Particulars | L.F. | Debit | Credit | |
| 2017 | |||||
| Mar.1 | Cash A/c | Dr. | 1,00,000 | ||
| To Capital A/c | 1,00,000 | ||||
| (Being started with cash .) | |||||
| Mar.3 | Drawings A/c | Dr. | 10,000 | ||
| To Cash A/c | 10,000 | ||||
| (Being Cash withdrawn for personal use.) | |||||
| Mar.5 | Commission A/c | Dr. | 6,000 | ||
| To Cash A/c | 6,000 | ||||
| (Being commission paid in cash ) | |||||
| Mar.9 | Cash A/c | Dr. | 12,000 | ||
| To Arvind A/c | 12,000 | ||||
| (Being Interest received cash.) | |||||
| Mar.11 | Cash A/c | Dr. | 7,000 | ||
| To Interest A/c | 7,000 | ||||
| (Being received in cash .) | |||||
| Mar.13 | Cash A/c | Dr. | 50,000 | ||
| To Capital A/c | 50,000 | ||||
| (Being Additional capital introduced in cash .) | |||||
| Mar.19 | Drawing A/c | Dr. | 11,000 | ||
| To Cash A/c | 11,000 | ||||
| (Being withdrawn for personal use ) | |||||
| Mar.21 | Gopal A/c | Dr. | 9,000 | ||
| To Cash A/c | 9,000 | ||||
| (Being Cash paid on Gopal.) | |||||
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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. 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)