Question

(iv)
Journalize the following transactions:
(i) Gaurav commenced business by introducing capital of Rs. 2,00,000.
(ii) Withdrew from the bank Rs. 50,000 for office use.
(iii) Withdrew from the bank Rs. 30,000 for domestic use.
Allow interest on capital of Rs. 1,25,000 @ 10%.
(v) Mahendra became insolvent. Only Rs. 30,000 could be realized from him against due
amount of Rs. 60,000
(vi) Charge interest on Drawings Rs. 30,000.
(vii) Goods stolen by an employee (Sales Price: Rs. 2,500, Cost: Rs. 2,000).
(viii) Gaurav purchased goods from Saurabh for Rs. 30,000 and Saurabh allowed him Trade
discount of Rs. 3,000.
(ix) Cash paid to Mr. Rohan Rs. 10,000 in full settlement of his debt of Rs. 10,500.
(x) Paid rent of the building Rs. 20,000, half of building is used by the proprietor for his own
residence.​

Answer 1

Answer:

Please see the picture attached.