2. Pass Journal entries from the following transactions: a. Goods worth Rs.50,000 and cash Rs.20,000 were stolen by an employee. b. Rs.10,000 due from Rohit are now irrecoverable. c. Provide interest on capital of Rs.15,00,000 at 6% p.a. for 9 months. d. Rahul who owned us Rs.20,000 becomes insolvent and a final dividend of 40 paise in a rupee is received from his estate. e. Purchased an old machinery for Rs.1,00,000 and spent Rs.5,000 on its carriage and Rs.20,000 on its immediate repairs. f. Sold goods to Karan list price Rs.20,000, trade discount 10% and cash discount 5%. He paid the amount on the same day and availed the cash discount. g. Paid landlord Rs.12,000 for rent. One-third of the building is occupied by the proprietor for residential use. h. Received cash from a debtor written off as bad debts last year Rs.2,000. i. Commission accrued Rs.1,000 j. Paid rent to Shyam by cheque Rs.3,000.
Answers
a) Loss due to theft A/c Dr. 70,000
To Purchases A/c 50,000
To Cash A/c 20,000
b) Bad Debts A/c Dr. 10,000
To Rohit 10,000
(c) Interest on capital A/c Dr. 6,570
To Capital A/c 6,570
(d) Bad Debts A/c Dr. 8,000
To Rahul 8,000
(e) Machinery A/c Dr. 1,25,000
To cash A/c 1,25,000
(f) Cash A/c Dr. 17,100
Discount Allowed A/c Dr. 900
To Sales 18,000
(g) Rent A/c Dr. 8,000
Drawings A/c Dr. 4,000
To Cash A/c 12,000
(h) Cash A/c Dr. 2,000
To Bad debts recovered A/c 2,000
(i) Commission accrued A/c Dr. 1,000
Commission A/c 1,000
(j)Rent A/c Dr. 3,000
To Bank A/c 3,000
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