Question No 20 Chapter No 5

Question No 20 Chapter No 5

20.Pass Journal entries for the following transactions:−

aProprietor withdrew for private use 10,000 from bank
bGoods costing 50,000 were burnt by fire.
cPurchased machinery for cash 1,50,000 and paid 2,000 on its installation
dCharge 5% depreciation on building costing 2,00,000 and 8% depreciation on furniture costing 5,000.
ePrepaid salary 2,000.
fKapil who owed us 20,000 becomes insolvent and nothing is received from his estate

 

The solution of Question No 20 Chapter No 5: –

In the Books of Radhika Traders
DateParticulars
L.F.DebitCredit
2019     
aDrawings A/cDr. 10,000 
 To Bank A/c   10,000
 (Being Cash withdrawn from bank for personal use)   
     
bLoss by Fire A/cDr. 50,000 
 To Purchases A/c   50,000
 (Being Goods destroyed by fire)   
      
cMachinery A/cDr. 1,52,000 
 To Cash A/c  1,52,000
 (Being Purchased machinery for cash and installation charges were paid)   
     
dDepreciation A/cDr. 10,400 
 To Building A/c  10,000
 To Furniture A/c  400
 (Being Bad debts written −off)   
     
ePrepaid Salary A/cDr. 2,000 
 To Salary A/c   2,000
 (Being Prepaid salary recorded )    
      
fBad Debts A/cDr. 20,000 
 To Kapil’s A/c   20,000
 (Being Bad debts written −off)    
     

 

 

 

Financial Accounting – Introduction and its Functions

Thanks, Please Like and share with your friends  

Comment if you have any question.

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

D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution

Chapter 1 Evolution of Accounting & Basic Accounting Terms

Chapter 2 Accounting Equations

Chapter 3 Meaning and Objectives of Accounting

Chapter 4 Double Entry System

Chapter 5 Books of Original Entry – Journal 

Chapter 6 Accounting for Goods and Service Tax (GST) (Coming soon)

Chapter 7 Books of Original Entry – Cash Book (Coming soon)

Chapter 8 Books of Original Entry – Special Purpose Subsidiary Books (Coming soon)

Chapter 9 Ledger (Coming soon)

Chapter 10 Trial Balance and Errors (Coming soon)

Chapter 11 Bank Reconciliation Statement (Coming soon)

Chapter 12 Depreciation (Coming soon)

Chapter 13 Bills of Exchange (Coming soon)

Chapter 14 Generally Accepted Accounting Principles(GAAP) 

Chapter 15 Bases of Accounting

Chapter 16 Accounting Standards and International Financial Reporting Standard(IFRS) (Coming soon)

Chapter 17 Capital and Revenue 

Chapter 18 Provisions and Reserves 

Chapter 19 Final Accounts (Coming soon)

Chapter 20 Final Accounts – With Adjustments (Coming soon)

Chapter 21 Errors and their Rectification (Coming soon)

Chapter 22 Accounts from Incomplete Records – Single Entry System (Coming soon)

Chapter 23 Accounts of Not-for-Profit Organisations (Coming soon)

Chapter 24 Computerised Accounting System (Coming soon)

Chapter 25 Introduction to Accounting Information System (Coming soon)

 

Leave a Reply

About us

About us, we are here to improve your knowledge in all financial & Business related topics and to get better carrier opportunities. The author has about 10-year Experience in tuition Business. It is very difficult to teach a large number of students with a personal touch or in a classroom. 

Animation's Resource websites

All Icons and images used on my website were downloaded from the following website please go and download free:-

close