due payable
Dinesh and endorsed, Pradeep's acceptance to him. Di
discounted the bill with his bankers for 4,850. On the
date the bill is honoured. Pass journal entries in the book
Mahesh, Dinesh & Pradeep.
Suresh owed * 25,500 to Raj on 1st March 2014. He acce
a bill for * 25,000 payable after one month, Raj allowed
discount of $500. Raj endorsed the bill to Hemant
settlement of his debt for * 26,000. Hemanth discounted
bill with his bank for * 24,800, the bill was honoured on
due date. Pass Journal entries in the books of all the par
Aayush draws on Pratham three bills of for * 6,000, 5
and 4,000 respectively for goods sold to Pratham. T
bills were for one month, 2 months and 3 month respectiv
The first hill was ander
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Answer:
Journalise the following transactions :
I. Provide depreciation @ 10% on furniture costing ₹ 10,000 for 9 months.
II. Paid ₹ 2,500 in cash as wages on installation of a machinery.
III. Mahesh who owned ₹ 5,000 was declared insolvent and 60 paise in a rupee were
received
as final compensation.
IV. Out of insurance paid this year, ₹ 3,000 is related to the next year
V. Received cash ₹ 500 from a bad debt written off last year
VI. Interest charged on drawings @ 5% when total drawings were ₹ 10,000
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