Question

Journalise the following:

(i) Goods purchased for 5,000 were used by the proprietor for personal purposes.

(ii) Goods stolen in transit (Sales Price * 8,000, Cost 6,000).

(iii) Goods uninsured of 3,000 (purchase cost) were destroyed by fire.

(iv) Goods costing 1,000 damaged by fire and Insurance Company accepted claim of 800
and cheque is received from the Insurance Company.

(v) Goods costing 500 given as charity (Sales Price 600).

(vi) 1,500 paid to landlord for rent.​

Answer 1

Explanation:

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