Enter the following transactions in journal proper of Geeta. (a)Rent not paid(rent outstanding) Rs.1000. (b)Goods withdrawn by proprietor for personal use Rs.200. (c)Purchase of Machine on credit for Rs.10000 from Ram & Sons. (d)Depreciate Motor car with book value Rs.100000 @ 15% p.a. for one year.
Answers
Journal entries in the books of geetha
1) Rent A/c Dr 1000
To Rent Outstanding A/c 1000
(being rent due)
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2) drawings A/c Dr 200
To Purchases A//c 200
(being goods withdrawn by proprietor)
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3)Machinery A/c Dr 10000
To Ram & co A/c 10000
(Being purchases machinery for credit )
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4)Depreciation A/c Dr 15000
To MAchinery A/c 15000
(being depreciation provided for machinery
workings : depreciation = 100000*15%
=15000
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