Question

1 Write joumal entries for the following transactions of Manojpraphalar for the month of june, 2004. June-1 Goods of the cost of Rs.1,400 were completely destroyed by fire. These goods were not
Insured.
June-2 Goods of Rs. 2400 were damaged by fire. The insurance company accepted a claim for Rs.360.
June 5 Goods costing Rs.800 were stolen from Godown.
June-6 Goods worth Rs.440 were distributed among the poor.
June-7 Goods costing Rs.960 were distributed free as samples.
June-8 Goods of Rs.700 were withdrawn for personal use.
June-10 Goods of Rs.480 were soaked by rain and were sold for Rs.260.
June-12 Goods of Rs.320 were received as samples.
June-14 Goods of Rs.250 were received as samples and were sold for Rs 220.
June-15 Goods of Rs. 5000 were damaged by fire: The insurance company paid a claim for 50%amount. The damaged goods were sold for Rs.1500.​

Answer 1

JUNE 1 - Profit & Loss a/c

                         To Goods lost by fire / Inventory a/c