Question No 16 Chapter No 18

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)
Purchases65,000
Capital50,000
Drawing8,000

The solution of Question No 16 Chapter No 18:-

Adjustment entries
DateParticulars
L.F.DebitCredit
 Drawing A/cDr. 4,000 
 To Purchases A/c   4,000
 (Being withdrawn for personal use.)   
     

 

Trading Account
Particular
AmountParticular
Amount
To Purchases A/c65,000    
Less: Drawing4,00061,000   
    

 

Balance Sheet
Labilities
AmountAssets
Amount
Capital A/c50,000    
Less: Drawing(8,000 + 4,000)12,00038,000   
      
    

 

Final Accounts: Definition and Explanation

Profit and Loss Account: Meaning, Format & Examples

 

Balance Sheet: Meaning, Format & Examples

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Also, Check out the solved question of all Chapters: –

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

 

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