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Question No 16 Chapter No 18
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Table of Contents
Withdrawal of goods for personal use
16.The following balances have been taken from the trial balance of Miss Pooja as of 31st March 2016
| Ledger Account | (Dr. Rs) | (Cr. Rs) |
| Purchases | 65,000 | – |
| Capital | – | 50,000 |
| Drawing | 8,000 | – |
The solution of Question No 16 Chapter No 18:-
| Adjustment entries | |||||
| Date | Particulars | L.F. | Debit | Credit | |
| Drawing A/c | Dr. | 4,000 | |||
| To Purchases A/c | 4,000 | ||||
| (Being withdrawn for personal use.) | |||||
| Trading Account | |||||
| Particular | Amount | Particular | Amount | ||
| To Purchases A/c | 65,000 | ||||
| Less: Drawing | 4,000 | 61,000 | |||
| – | – | ||||
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| Balance Sheet | |||||
| Labilities | Amount | Assets | Amount | ||
| Capital A/c | 50,000 | ||||
| Less: Drawing(8,000 + 4,000) | 12,000 | 38,000 | |||
| – | – | ||||
Final Accounts: Meaning, Definition and Explanation
Profit and Loss Account: Meaning, Format & Examples
Balance Sheet: Meaning, Format & Examples
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- https://tutorstips.in/profit-and-loss-account/
- https://tutorstips.in/balance-sheet/
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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. 1 – Introduction
- Chapter No. 2 – Theory Base of Accounting
- Chapter No. 3 – Origin of Transactions
- Chapter No. 4 – Vouchers and transactions
- Chapter No. 5 – Journal
- Chapter No. 6 – Accounting for Goods and Services Tax(GST)
- Chapter No. 7 – Ledger
- Chapter No. 8 – Cash Book
- Chapter No. 9 – Other Subsidiary Books
- Chapter No. 10 – Journal Proper
- Chapter No. 11 – Trial Balance
- Chapter No. 12 – Bank Reconciliation Statement
- Chapter No. 13 – Depreciation
- Chapter No. 14 – Provisions and Reserves
- 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)