Question

In transaction (iii) Prepaid Insurance $2,800. 0.24. Journalise the following: 2018 March 4 Purchased building for 1,50,000 and incurred expenses of $10,000 on its purchase. March 10 Satish who owed us 20,000 is declared insolvent and 60 paise per is received from his estate, March 15 Paid 500 for repairing the office furniture. March 18 Proprietor withdrew for his personal use cash 5,000 and goods worth 2,000. March 20 Purchased the following items for business : Iron Safe 15,000; Filing Cabinet 5,000; Computer *12,000; Postage 200 and Stationery 150. March 28 Paid electricity charges 71,600. March 31 Charge depreciation on Machinery @ 10% for one year (Machinery *75,000) March 31 Outstanding Wages at the end of the year 36,000. [Ans. Total 2,34,950.]​

Answer 1

Answer:

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