Question No 24 Chapter No 5

Question No 24 Chapter No 5

24. Journalise the following:−

2018 
Mar.4Purchased building for 1,50,000 and incurred expenses of 10,000 on its purchase.
Mar.10 Satish who owed us 20,000 is declared insolvent and 60 paise per is received from his estate
Mar.15Paid 500 for repairing the office furniture
Mar.18Proprietor withdrew for his personal use cash 5,000 and goods worth 2,000
Mar.20Purchased the following items for business: Iron Safe 15,000; Filing Cabinet 5,000; Computer 12,000; Postage 200 and Stationery 150.
Mar.28Paid electricity charges 1,600.
Mar.31Charge depreciation on Machinery @ 10% for one-year Machinery 75, 000
Mar.31Outstanding wages at the end of the year 6,000

 

The solution of Question No 24 Chapter No 5: –

In the Books of Radhika Traders
DateParticulars
L.F.DebitCredit
2019     
Mar.4Building A/cDr. 1,60,000 
 To Bank A/c   1,60,000
 (Being Building purchased and expenses paid)   
     
Mar. 10Cash A/cDr. 12,000 
 Bad Debts A/cDr. 8,000 
 To Satish’s A/c   20,000
 (Being Cash received from Satish and bad debts written −off)   
      
Mar. 15Repairs A/cDr. 500 
 To Cash A/c  500
 (Being Payment made for repair of office furniture )   
     
Mar. 18Drawings A/cDr. 7,000 
 To Cash A/c   5,000
 To Purchases A/c   2,000
 (Being Cash and goods withdrawn for personal use)    
      
Mar. 20Office Equipment A/cDr. 32,000 
 To Cash A/c   32,000
 (Being Purchased iron safe, filling cabinet and typewriter)    
      
Mar. 20Postage & Stationery A/cDr. 350 
 To Cash A/c   350
 (Being Expenses paid for postage and stationery)    
      
Mar. 28Electricity Charges A/cDr. 1,600 
 To Cash A/c   1,600
 (Being Paid electricity charges)    
      
Mar. 31Depreciation A/cDr. 7,500 
 To Machinery A/c   7,500
 (Being Depreciation charged on machinery)    
      
Mar. 31Wages A/cDr. 6,000 
 To Outstanding Wages A/c   6,000
 (Being Outstanding wages recorded)    
     

 

 

Financial Accounting – Introduction and its Functions

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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)

 

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