Question No 27 Chapter No 5 – USHA Publication 11 Class

Question No 27 Chapter No 5
Q-27 - CH-5 - USHA +1 Book 2020 - Solution


Question No 27 Chapter No 5


Loss of Goods/Cash

27. Journalese the following transactions in the books of Ram Gopal :

Feb. 1Goods destroyed by fire Rs 16,000. Goods were uninsured.
Feb. 4Goods destroyed by rain Rs 90,000. Insurance company admitted the full claim
Feb. 8Goods destroyed in transit Rs 25,000. Transport company admitted the claim Rs 19,000
Feb. 12Goods destroyed by flood Rs 38,000. Full claim received from the government by cheque
Feb. 18Cash was stolen from the cash box Rs 45,000. With the help of police, Rs 27,000 could be received the same day.
Feb. 25Goods destroyed by accident Rs 91,000. The insurance company paid the claim Rs 71,000
Feb. 26Goods lost by embezzlement Rs 25,000
Feb. 27Bharti Axa Insurance Company admitted the above claim Rs 19,000
Feb. 28Insurance company paid the above claim.




The solution of Question No 27 Chapter No 5: –


In the Books of Ram Gopal
Feb.1Loss on fire A/cDr. 16,000 
 To Purchases A/c   16,000
 (Being Goods destroyed by fire.)   
Feb.4Insurance Company A/cDr. 90,000 
 To Purchases A/c   90,000
 (Being goods destroyed, full claim admitted )   
Feb.8Loss in Transit A/cDr. 6,000 
 Transport company A/cDr. 19,000 
 To Purchases A/c  25,000
 (Being goods destroyed, partial claim admitted)   
Feb.12Bank A/cDr. 38,000 
 To Purchases A/c  38,000
 (Being goods destroyed, full claim received )   
Feb.18Loss by theft A/cDr. 18,000 
 To Cash A/c  18,000
 (Being donated goods to poor people)   
Feb.25Bank A/cDr. 71,000 
 Loss by accident A/cDr. 20,000 
 To Purchases A/c  91,000
 (Being goods destroyed, partial claim received)   
Feb.26Loss by embezzlement A/cDr. 25,000 
 To Purchases A/c  25,000
 (Being goods destroyed by embezzlement )   
Feb.27Bharti Axa Insurance Company A/cDr. 19,000 
 To loss on embezzlement A/c  19,000
 (Being insurance company admitted the claim)   
Feb.28Bank A/cDr. 19,000 
 To Bharti Axa Insurance Company A/c  19,000
 (Being amount to claim received )   



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)




error: Content is protected !!