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

Question No. 30 - Chapter No.8 - T.S. Grewal +1 Book 2019

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.

Solution of Question No 30 Chapter No 8: – 

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)      
         
 

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