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Question No 39 Chapter No 5 – USHA Publication 11 Class

Question No 39 Chapter No 5
Q-39 - CH-5 - USHA +1 Book 2020 - Solution

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Question No 39 Chapter No 5

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39. Journalise the following transactions in the book of Parsha :

2019 
Mar.1Borrowed Rs 40,000 from Pooja
Mar.3Lent Rs 30,000 to Megha 
Mar. 5Repaid Rs 25,000 to Pooja  
Mar. 7Megha repaid Rs 22,000
Mar. 9Premium paid for the insurance of goods Rs 4,000
Mar. 11Premium paid for the insurance of machinery Rs 5,000
Mar. 13Premium paid for the insurance of proprietor Rs 6,000
Mar. 15Premium paid for the insurance of employees Rs 7,000

 

The solution of Question No 39 Chapter No 5: –

 

In the Books of Parsha
DateParticulars
L.F.DebitCredit
2018     
Mar. 1Cash A/cDr. 40,000 
 To Pooja’s Loan A/c   40,000
 (Being cash borrowed)   
     
Mar. 3Loan to Megha A/cDr. 30,000 
 To Cash A/c  30,000
 (Being cash lent )   
     
Mar. 5Pooja’s Loan A/cDr. 25,000 
 To Cash A/c  25,000
 (Being borrowed money repaid )   
     
Mar. 7Cash A/cDr. 22,000 
 To Loan to Megha A/c  22,000
 (Being lent money received back)   
     
Mar. 9Insurance  A/cDr. 4,000 
 To Cash A/c  4,000
 (Being insurance premium paid on the goods)   
     
Mar. 11Insurance A/cDr. 5,000 
 To CashA/c  5,000
 (Being insurance premium paid on the machinery)   
     
Mar. 13Drawing A/cDr. 6,000 
 To Cash A/c  6,000
 (Being insurance premium paid on the life of proprietor)   
     
Mar. 15Insurance A/cDr. 7,000 
 To Cash A/c  7,000
 (Being insurance premium paid on the lives of employees)   
     

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How to make Journal Entries in Accounting – Explanation

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Also, Check out the solved question of all Chapters: –

Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution

Chapter No. 1 – Introduction

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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. 5 – Journal

Chapter No. 6 – Accounting for Goods and Services Tax(GST)

Chapter No. 7 – Ledger

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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

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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)

 

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