Question No 39 Chapter No 5
39. Journalise the following transactions in the book of Parsha :
| 2019 | |
| Mar.1 | Borrowed Rs 40,000 from Pooja |
| Mar.3 | Lent Rs 30,000 to Megha |
| Mar. 5 | Repaid Rs 25,000 to Pooja |
| Mar. 7 | Megha repaid Rs 22,000 |
| Mar. 9 | Premium paid for the insurance of goods Rs 4,000 |
| Mar. 11 | Premium paid for the insurance of machinery Rs 5,000 |
| Mar. 13 | Premium paid for the insurance of proprietor Rs 6,000 |
| Mar. 15 | Premium paid for the insurance of employees Rs 7,000 |
The solution of Question No 39 Chapter No 5: –
| In the Books of Parsha | |||||
| Date | Particulars |
L.F. | Debit | Credit | |
| 2018 | |||||
| Mar. 1 | Cash A/c | Dr. | 40,000 | ||
| To Pooja’s Loan A/c | 40,000 | ||||
| (Being cash borrowed) | |||||
| Mar. 3 | Loan to Megha A/c | Dr. | 30,000 | ||
| To Cash A/c | 30,000 | ||||
| (Being cash lent ) | |||||
| Mar. 5 | Pooja’s Loan A/c | Dr. | 25,000 | ||
| To Cash A/c | 25,000 | ||||
| (Being borrowed money repaid ) | |||||
| Mar. 7 | Cash A/c | Dr. | 22,000 | ||
| To Loan to Megha A/c | 22,000 | ||||
| (Being lent money received back) | |||||
| Mar. 9 | Insurance A/c | Dr. | 4,000 | ||
| To Cash A/c | 4,000 | ||||
| (Being insurance premium paid on the goods) | |||||
| Mar. 11 | Insurance A/c | Dr. | 5,000 | ||
| To CashA/c | 5,000 | ||||
| (Being insurance premium paid on the machinery) | |||||
| Mar. 13 | Drawing A/c | Dr. | 6,000 | ||
| To Cash A/c | 6,000 | ||||
| (Being insurance premium paid on the life of proprietor) | |||||
| Mar. 15 | Insurance A/c | Dr. | 7,000 | ||
| To Cash A/c | 7,000 | ||||
| (Being insurance premium paid on the lives of employees) | |||||
How to make Journal Entries in Accounting – Explanation
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Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution
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Chapter No. 2 – Theory Base of Accounting
Chapter No. 3 – Origin of Transactions
Chapter No. 4 – Vouchers and transactions
Chapter No. 6 – Accounting for Goods and Services Tax(GST)
Chapter No. 9 – Other Subsidiary Books
Chapter No. 10 – Journal Proper
Chapter No. 11 – Trial Balance
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Chapter No. 12 – Bank Reconciliation Statement
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)