Question

Accounting treatment of some specific transactions
1. Journalize the following transactions.
(i) `6,000 due from Harish are bad.
(ii) Sooraj is declared insolvent. Received from his official receiver
70 paise in the rupee on a debt of `50,000.
(iii) Received cash for a bad debt written off last year `8,000.
(iv) Goods costing `900 given as charity.
(v) Goods costing `1,700 given as samples
(vi) Goods uninsured of `5,000 were destroyed by fire.
(vii) Goods completely damaged in accident `15,000
(viii) Goods stolen from warehouse `12,000.
(ix) Goods insured of `2000 were damaged by fire and claim is
lodged.
(x) Goods insured of `2000 were damaged by fire and full amount of
claim is received from the insurance company.
(xi) Goods costing `1,000 damaged by fire and insurance company
accepted claim of `800 and cheque is received from the
insurance company.
(xii) Paid wages for installation of machinery. `2,500
(xiii) Miscellaneous or sundry expenses `1,000

Answer 1

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