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Question No 13 Chapter No 5 – D.K Goal Class 11

Question No 13 Chapter No 5

Question No 13 Chapter No 5

13. Pass Journal Entries for the following transactions:−

1 Provide depreciation on Furniture 500 and on Machinery 2,000
2 Received cash 1,000 for bad-debts written off last year.
3 Ajay Singh was declared bankrupt. He owed 2,500 to us. Nothing could be recovered from his estate.
4 20,000 for wages and 4,000 for salaries are outstanding.
5 Purchased furniture for 6,000 for the proprietor and paid the amount by cheque
6 Provide 9% interest on capital amounting to 2,00,000
7 Charge interest on drawings 1,000.

 

The solution of Question No 13 Chapter No 5: –

In the Books of Hari Shankar & Co
Date Particulars
L.F. Debit Credit
2019          
1 Depreciation A/c Dr.   2,500  
  To Furniture A/c       500
  To Machinery A/c       2,000
  (Being Depreciation charged on furniture and machinery.)      
         
2 Cash A/c Dr.   1,000  
  To Bad Debts Recovered A/c       1,000
  (Being Bad debts recovered)      
           
3 Bad Debts A/c Dr.   2,500  
  To Ram’s A/c     2,500
  (Being Bad debts written −off)      
         
4 Wages A/c Dr.   20,000  
  Salaries A/c Dr.   4,000  
  To Outstanding Wages A/c     20,000
  To Outstanding Salaries A/c     4,000
  (Being Wages and Salaries were outstanding)      
         
5 Drawings A/c Dr.   6,000  
  To Bank A/c     6,000
  (Being Furniture purchased for personal use)      
         
6 Interest on Capital A/c Dr.   18,000  
  To Capital A/c     18,000
  (Being Interest on capital provided)      
         
7 Drawings A/c Dr.   1,000  
  To Interest on Drawings A/c       1,000
  (Being Interest on drawings charged)        
         

 

 

 

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

D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution

Chapter 1 Evolution of Accounting & Basic Accounting Terms

Chapter 2 Accounting Equations

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Chapter 3 Meaning and Objectives of Accounting

Chapter 4 Double Entry System

Chapter 5 Books of Original Entry – Journal 

Chapter 6 Accounting for Goods and Service Tax (GST) (Coming soon)

Chapter 7 Books of Original Entry – Cash Book (Coming soon)

Chapter 8 Books of Original Entry – Special Purpose Subsidiary Books (Coming soon)

Chapter 9 Ledger (Coming soon)

Chapter 10 Trial Balance and Errors (Coming soon)

Chapter 11 Bank Reconciliation Statement (Coming soon)

Chapter 12 Depreciation (Coming soon)

Chapter 13 Bills of Exchange (Coming soon)

Chapter 14 Generally Accepted Accounting Principles(GAAP) 

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Chapter 15 Bases of Accounting

Chapter 16 Accounting Standards and International Financial Reporting Standard(IFRS) (Coming soon)

Chapter 17 Capital and Revenue 

Chapter 18 Provisions and Reserves 

Chapter 19 Final Accounts (Coming soon)

Chapter 20 Final Accounts – With Adjustments (Coming soon)

Chapter 21 Errors and their Rectification (Coming soon)

Chapter 22 Accounts from Incomplete Records – Single Entry System (Coming soon)

Chapter 23 Accounts of Not-for-Profit Organisations (Coming soon)

Chapter 24 Computerised Accounting System (Coming soon)

Chapter 25 Introduction to Accounting Information System (Coming soon)

 

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