Question No 30 Chapter No 8 - T.S. Grewal 11 Class

Question No 30 Chapter No 8

Journalise the following in the books of Amit Saini, Gurugram (Haryana):

(i)	Raj of Alwar, Rajasthan who owed Mohan Singh Rs 25,000 Became insolvent and received 60 paise in a rupee as full and final settlement.
(ii)	Mohan Singh owes to his landlord Rs 10,000 as rent.
(iii)	Charge depreciation of 10% on furniture costing Rs 50,000.
(iv)	Salaries due to employees Rs 20,000
(v)	Sold to Sunil goods in cash of Rs 10,000 less 10% trade discount plus CGST and SGST @ 6% each and received a net of Rs 8,500.
(vi)	Provided interest on capital of Rs 1,00,000 @ 10% per annum.
(vii)	Goods lost in theft – Rs 5,000 which were purchase paying IGST @ 12% from Alwar, Rajasthan.

In the Books of Amit Saini, Gurugram (Haryana)

Date	Particulars		L.F.	Debit	Credit

(i)	Cash A/c	Dr.		15,000
	Bad Debts A/c	Dr.		10,000
	To Raj of Alwar, Rajasthan A/c				25,000
	(Being Raj became insolvent and received 60 paise in a rupee as full and final settlement.)

(ii)	Rent A/c	Dr.		10,000
	To Outstanding Rent A/c				10,000
	(Being Rent owes to landlord.)

(iii)	Depreciation on Furniture A/c	Dr.		5,000
	To Furniture A/c				5,000
	(Being goods given as charity)

(iv)	Salaries A/c	Dr.		20,000
	To Outstanding Salaries A/c				20,000
	(Being due to employees.)

(v)	Cash A/c	Dr.		8,500
	Discount Allowed A/c	Dr.		1,580
	To Sales A/c				9,000
	To Output CGST A/c				540
	To Output SGST A/c				540
	(Being due to employees.)

(vi)	Interest on Capital A/c	Dr.		10,000
	To Capital A/c				10,000
	(Being provided interest on capital on Rs 1,00,000 @ 10%)

(vii)	Loss by theft A/c	Dr.		5,600
	To Purchase A/c				5,000
	To Input IGST A/c				600
	(Being goods destroyed by Theft)