Question No 30 Chapter No 5 – USHA Publication 11 Class

Question No 30 Chapter No 5

Question No 30 Chapter No 5

Miscellaneous Transaction

30. Enter the following transactions in the journal of S.S. Ray:

2019  
Mar. 1 Exchanged old building wroth Rs 20,00,000 for the plot f Rs worth Rs 30,00,000, balance paid in cash 
Mar. 4 Exchanged old computer worth Rs 60,000 for new wroth Rs 1,10,000, balance paid from the personal bank account
Mar. 6 Charge 10% depreciation on machinery costing Rs 85,000
Mar. 7 Provide 12% interest to the proprietor on his capital Rs 2,00,000
Mar. 10 Charge 8% interest from the proprietor on hid drawing Rs 50,000
Mar. 15 Collected charges Rs 450 deducted by bank from the current account of the business
Mar. 17 Paid Rs 150 for the purchase of refreshments for the customers
Mar. 19 Sold old newspaper for Rs 730

 

The solution of Question No 30 Chapter No 5: –

 

In the Books of S.S. Ray
Date Particulars
L.F. Debit Credit
2019          
Mar.1 Land A/c Dr.   30,00,000  
  To Building A/c       20,00,000
  To Cash A/c       10,00,000
  (Being exchanged building with land and balance paid in cash .)      
         
Mar.4 Computer A/c(New) Dr.   1,10,000  
  To Computer A/c(Old)       60,000
  To Cash A/c       50,000
  (Being exchanged old computer with the new, balance paid in cash .)      
           
Mar.6 Depreciation A/c Dr.   8,500  
  To Machinery A/c     8,500
  (Being deprecation on machinery provided @10%)      
         
Mar.7 Interest on Capital A/c Dr.   24,000  
  To Capital A/c     24,000
  (Being interest on capital allowed @12%)      
         
Mar.10 Drawing A/c Dr.   4,000  
  To Interest on drawing A/c     4,000
  (Being interest on drawing charged @8%)      
         
Mar.15 Collection charges A/c Dr.   450  
  To Bank A/c     450
  (Being collection charges deducted by the bank )      
         
Mar.17 Entertainment Expenses A/c Dr.   150  
  To Cash A/c     150
  (Being refreshment purchases for the customer)      
         
Mar.19 Cash A/c Dr.   730  
  To Miscellaneous Receipts A/c     730
  (Being old newspaper sold for cash )      
         

 

 

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

Your email address will not be published. Required fields are marked *