► Journalise the following:
1. Goods purchased for Rs. 5, 000 were used by the proprietor for personal purposes.
2. Rs. 200 due from Hari are bad debts.
3. Goods uninsured of Rs. 3, 000 (purchased cost) were destroyed by fire.
4. Goods costing Rs. 1,000 damaged by fire and Insurance Company accepted claim of Rs. 800
and cheque is received from the Insurance Company.
5. Goods costing Rs. 500 given as charity (sales Price Rs. 600).
6. Paid Landlord Rs. 1, 500 for rent.
7. Sold household furniture for Rs. 5,000. The proceeds were invested into business.
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Answer:
1. Drawings A|c....dr 5,000
To cash A|c 5,000
3. loss of Stock by fire A|c...dr 3,000
To Purchases A|c 3,000
4. Loss of Stock by fire A|c...dr 1,000
To Purchases A|c 1,000
insurance company A|c....dr 800
Loss of Stock by fire A|c...dr 200
To Purchases A|c 1,000
Bank A|c....dr 800
To Insurance Company A|c
5. charity A|c....dr 500
To Purchases A|c 500
6. Rent A|c....dr 1,500
To rent outstanding A|c 1,500
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