Question No 23 Chapter No 5 – Usha
Borrowing/Lending of Money
23. Record the following transaction in the book of Priyanka:
| 2018 | |
| Apr. 1 | Borrowed Rs 1,20,000 from Sanjana |
| Apr. 11 | Lent Rs 1,80,000 to Sanjeet |
| Apr. 18 | Repaid Rs 95,000 to Sanjana |
| Apr. 19 | Sanjeet repaid Rs 1,18,000 |
| Apr. 30 | Borrowed Rs 44,000 from Priyanka’s Brother Rahul @ 10% interest |
The solution of Question No 23 Chapter No 5 – Usha: –
| In the Books of Priyanka | |||||
| Date | Particulars |
L.F. | Debit | Credit | |
| 2018 | |||||
| Apr.1 | Cash A/c | Dr. | 1,20,000 | ||
| To Sanjana’s Loan A/c | 1,20,000 | ||||
| (Being cash borrowed .) | |||||
| Apr.11 | Loan to Sanjeet A/c | Dr. | 1,80,000 | ||
| To Cash A/c | 1,80,000 | ||||
| (Being money lent) | |||||
| Apr.18 | Sanjana’s Loan A/c | Dr. | 95,000 | ||
| To Cash A/c | 95,000 | ||||
| (Being borrowed money repaid) | |||||
| Apr.19 | Cash A/c | Dr. | 1,18,000 | ||
| To Loan to Sanjeet A/c | 1,18,000 | ||||
| (Being let money received back ) | |||||
| Apr.30 | Cash A/c | Dr. | 44,000 | ||
| To 10% Rahul’s Loan A/c | 44,000 | ||||
| (Being cash borrowed @ 10% interest.) | |||||
This is all about the Question No 23 Chapter No 5 – Usha.
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How to make Journal Entries in Accounting – Explanation
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How to make Journal Entries in Accounting – in Hindi
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You can also Check out the solved question of other Chapters: –
Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution
Chapter No. 2 – Theory Base of Accounting
Chapter No. 3 – Origin of Transactions
Chapter No. 4 – Vouchers and transactions
Chapter No. 6 – Accounting for Goods and Services Tax(GST)
Chapter No. 9 – Other Subsidiary Books
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Chapter No. 10 – Journal Proper
Chapter No. 11 – Trial Balance
Chapter No. 12 – Bank Reconciliation Statement
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)
Check out Books Solution provided by Tutorstips.com for free of cost.
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Usha Publication – Elements of Book-Keeping PSEB (Class 11)- Solution
D K Goel’s Accountancy ISC class 11 – Solution
Unimax Publications – Advanced Accountancy-I- Class 11 – 2021 – Solution
Class 12th Accounts Books Solution for free of cost
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I. T.S. Grewal’s – Double Entry Book Keeping- Accounting for Not-for-Profit Organisations and Partnership Firms:
II. T.S. Grewal’s – Double Entry Book Keeping- Accounting for Companies:
III. T.S. Grewal’s – Analysis of Financial Statements:
I. Class +2 Accountancy Part 1 – Usha Publication
II. Class +2 Accountancy Part 2 – Usha Publication
Unimax Publications Class 12th – (For PSEB)
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