A Pass the Journal entries for the following adjustments as on 31st March 2018:
O Stock at the end of the year 60,000.
Salaries due to Administrative staff 7,500 w Out of the rent paid this year, 7 2,000 relates the next year.
(3) Provide 10% depreciation on furniture costing 7 10,000. (0) Provide 10% interest on capital amounted to ? 2.00,000.
(vi) Charge interest on drawings 2,000.
(vil) Paid 100 for refreshment for a customer.
(vi) Rent due to landlord 500.
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Answer:
(3) Furniture a/c dr 71,000
to depreciation a/c 71,000
(0) Interest on capital a/c dr. 20,000
to capital a/c 20,000
(vi) Drawings a/c dr. 2,000
to Interest on drawings a/c 2,000
(vil) Cash a/c dr. 100
to customer a/c 100
(vi) Rent a/c dr. 500
to cash a/c 500
Explanation:
(3) furniture costing = 7,10,000
depreciation@10% = 71,000
(0) 10% int. on 2,00,000 = 20,000
I hope this will help you...
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