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Question -

Jouranlise the following transactions in the books of Harpreet Bros.:
(a) Rs 1,000 due from Rohit are now bad debts.
(b) Goods worth Rs 2,000 were used by the proprietor.
(c) Charge depreciation @ 10% p.a for two month on machine costing Rs 30,000.
(d) Provide interest on capital of Rs 1,50,000 at 6% p.a. for 9 months.
(e) Rahul become insolvent, who owed is Rs 2,000 a final dividend of 60 paise in a rupee is received from his estate.



Answer -

Books of Harpreet Bros.

Journal

S. No.

Particulars

L.F.

Debit Amount Rs

Credit Amount Rs

(a)

Bad Debt A/c

Dr.

 

1,000

 

 

 

To Rohit (Debtors)

 

1,000

 

(Due from Rohit became bad debt)

 

 

 

 

 

(b)

Drawings A/c

Dr.

 

2,000

 

 

 

To Purchases A/c

 

2,000

 

(Goods withdrawn by proprietor for personal use)

 

 

 

 

 

 

(c)

Depreciation A/c

Dr.

 

500

 

 

 

To Machinery A/c

 

500

 

(Depreciation charged on machinery for two

 months)

 

 

 

 

 

 

 

(d)

Interest on Capital A/c

Dr.

 

6,750

 

 

 

To Capital A/c

 

6,750

 

(Interest on capital at 6% due for 9 months)

 

 

 

 

 

 

(e)

Bad Debt A/c

Dr.

 

     800

 

Cash A/c

Dr.

 

    1,200

 

 

To Rahul (Debtor)

 

 

2,000 

 

(Received from Rahul 60 paise in a rupee and rest amount considered as bad debt)

 

 

 

 

 

 

 

 

 

Total

 

 

12,250

12,250

 

 

 

 

 

 

 

 

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