Question No 16 Chapter No 18 – USHA Publication 11 Class

Posted by By Shubham Sharma 3 Min Read September 19, 2021
Question No 16 Chapter No 18
Q-16 - CH-18 - USHA +1 Book 2020 - Solution

Question No 16 Chapter No 18

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  (Being withdrawn for personal use.)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      
    –     –

 

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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Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution

 

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