Question No 16 Chapter No 11 – T.S. Grewal 11 Class

Question No.16 - Chapter No.11 - T.S. Grewal +1 Book 2019-Solution-min-min (1)


Question No 16 Chapter No 11


16. (Adjustment Entries). From the following information available on 31st March 2018, pass the necessary Adjustment Entries in the Journal for the yare ending on that date:

(i) Interest accrued Rs 2,500.
(ii) Wages for March 2018 outstanding Rs 10,000.
(iii) Insurance prepaid Rs 1,500.
(iv) Commission due to manager 6% on net profit after charging such commission. The profit before charging such commission was Rs 1,06,000
(v) Interest due on loan but not paid. Loan of Rs 1,50,000 was taken at 9% p.a. 9 months before the end of the year

The solution of Question No 16 Chapter 11

Date  Particulars
(i)Accrued Interest A/cDr 2,500 
 To Interest Received A/c  2,500
 (Being interest accrued but not received )   
(ii)Wages A/cDr 10,000 
 To Outstanding Wages A/c   10,000
 (Being Wages not been paid )    
(iii)Prepaid Insurance A/cDr 1,500 
 To Insurance A/c   1,500
 (Being Insurance paid in advance )   
(iv)Manager Commission A/cDr 6,000 
 To Outstanding Manager Commission A/c  6,000
 (Being Manger’s Commission not been Paid )    
(v)Interest on loan A/c 10,125 
 To Outstanding Interest on loan A/c  10,125
 (Being Interest on loan not been Paid )   





To understand more about cash book please check out following links: –

Journal Proper | Subsidiary Books | Examples

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T.S. Grewal's Double Entry Book Keeping

T.S. Grewal’s Double Entry Book Keeping


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