Question No 23 Chapter No 5 – USHA Publication 11 Class

Question No 23 Chapter No 5

Question No 23 Chapter No 5

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: –

 

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.)      
         

 

 

How to make Journal Entries in Accounting – Explanation

Thanks, Please Like and share with your friends  

Comment if you have any question.

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)

 

 

Leave a Reply