Question

8. Pass necessary Journal entries for the following transactions:
2020
April 1 Goods withdrawn by owner of 1,000 for personal use.
April 2 Goods distributed as sample...........
April 3 Goods Given as Charity
April 4 Timber used for making office furniture 5,000 (Assume that the firm is a timber merchant)
April
5 Goods destroyed by fire
April 6 Goods lost in transit.........
500
300
.
3,500
2,000​

Answer 1

Answer:

Drawings 1000

To purchase 1000

Advertisement dr. 500

To purchases 500

Charity dr. 300

To purchases 300

Loss by fire 3500

To purchases 3500

Lost in transit 2000

purchases 2000

L

Answer 2

Journal book of 2020

1 April :

Drawings A/c . . . Dr - 1,000

• To purchase A/c - 1,000

( Being goods withdraw by proprietor for personal use )

2 April :

Advertisement A/c . . . Dr - 500

• To purchase A/c - 500

( Being goods distributed as free sample )

3 April :

Charity A/c . . . Dr - 300

• To purchase A/c - 300

( Being goods given as charity )

4 April :

Furniture A/c . . . Dr - 5,000

• To purchase A/c - 5,000

( Being goods ( Timber ) used for making furniture )

5 April :

Lost by fire A/c . . . Dr - 3,500

• To purchase A/c - 3,500

( Being goods destroyed by fire )

6 April :

Lost by transit A/c . . . Dr - 2,000

• To purchase A/c - 2,000

( Being goods lost in transit )