The Total solution for NCERT class 6-12
Rs
(a)
Cash paid for installation of machine
500
(b)
Goods given as charity
2,000
(c)
Interest charge on capital @ 7% p.a. when total capital were
70,000
(d)
Received Rs 1,200 of a bad debts written-off last year.
(e)
Goods destroyed by fire
(f)
Rent outstanding
1,000
(g)
Interest on drawings
900
(h)
Sudhir Kumar who owed me Rs 3,000 has failed to pay the amount. He pays me a compensation of 45 paise in a rupee.
(i)
Commission received in advance
7,000
Journal
S. No.
Particulars
L.F.
Debit Amount
Credit Amount
Machinery A/c
Dr.
To Cash A/c
(Cash paid for installation of machinery)
Charity A/c
To Purchases A/c
(Goods given as charity)
Interest on Capital A/c
4,900
To Capital A/c
(Interest on capital charged @ 7% p.a.)
Cash A/c
1,200
To Bad Debt Recovered A/c
(Cash received on from debtors which was
previously written off as bad)
Goods Destroyed by Fire A/c
(Goods destroyed by fire)
Rent A/c
To Rent Outstanding A/c
(Rent due but not paid)
Drawings A/c
To Interest on Drawings A/c
(Interest allowed on drawings)
1,350
Bad Debt A/c
1,650
To Sudhir Kumar
3,000
(Sudhir Kumar declared insolvent and cash
received from him 45 paise in a rupee in full
settlement)
Commission A/c
To Commission Received in Advance A/c
(Commission received in advance)
(Note: If it is assumed, commission in
advance already credited as commission)
OR
To Commission Received in Advance
(Commission received in Advance)
(Note: If it is assumed, commission in advance
not already credited as commission)
Total
22,500