Question

Journalise the following transactions:

i) Depreciation @ 15% on furniture for 6 months (Book value of Furniture Rs.

20,000

ii) Ram is declared insolvent. Received from his official receiver a first and final

composition of 60 paise in a rupee on a debt of Ra. 15,000.

iii) Stock in hand at the end of the year Rs. 6500

iv) Rent due to landlord Rs. 800

v) Received interest on loan from Veena Rs. 2200

vi) Paid Life Insurance Premium Rs. 7,500.​

Answer 1

Explanation:

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