Question No 14 Chapter No 7 – USHA Publication 11 Class

Question No 14 Chapter No 7

Question No 14 Chapter No 7

14. From the following particulars, prepare the proprietor’s capital

2018   Rs
Apr. 1 Started business with  45,000
May. 10 Withdrawn from the bank for personal use 10,000
Jul. 15 Further capital introduced  55,000
Aug. 20 Goods are withdrawn for personal use 4,000
Sep. 21 Life insurance premium paid  5,000
Nov. 24 Income tax paid 12,000
2019    
Mar. 31 Profit for the year  36,000

 

The solution of Question No 14 Chapter No 7: –

 

Dr. Capital A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Mar. 10 To Drawings A/c   10,000 Apr. 1 By Cash A/c   45,000
Aug. 20 To Drawing of goods A/c   4,000 Jul. 1 By Cash A/c   55,000
Sep. 21 To Drawing A/c(life insurance)   5,000        
        Mar. 31 By Balance c/d   36,000
Mar. 31 To Balance b/d   1,05,000        
      1,36,000       1,36,000

 

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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