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| May. 10 | Withdrawn from the bank for personal use | 10,000 |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| Aug. 20 | Goods are withdrawn for personal use | 4,000 |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. 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)