Question

adjustment entries : insurance unexpired rs 2000, closing stock rs 50000,salary outstanding rs 10000, interest on drawings rs 650, commission received in advance rs 2000​

Answer 1

Answer:

for unexpired insurance

Prepaid insurance Dr 2000

.. To insurance a/c. 2000

for closing inventory

Closing stock. Dr 50000

To Trading a/c. 50000

For interest on drawing

Drawing. a/c Dr. 650

To interest on drawing a/c. 650

For commission is received in advance

Commission a/c. Dr. 2000

To commission received in advance 2000