Journalise the following transactions in the books of Madan Singh: (i) Goods costing Rs. 1,00,000 were destroyed in fire. Insurance company admitted the claim for Rs. 75,000. (ii) Provide interest on capital of Rs. 1,00,000 @ 10% per annum. (iii) Received a first and final dividend of 70 paise in the rupee from the official receiver of Manoj who owed us Rs. 8,000. (iv) Goods costing Rs. 40,000 sold to Mr. X at a profit of 20% on sales less 10% trade discount. (v) Salary due to employees Rs. 20,000. (vi) Place on Fixed Deposit Account at Bank by transfer from Current Account Rs. 5,000.
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Journalise the following transactions in the books of Madan Singh: (i) Goods costing Rs. 1,00,000 were destroyed in fire. Insurance company admitted the claim for Rs. 75,000. (ii) Provide interest on capital of Rs. 1,00,000 @ 10% per annum. (iii) Received a first and final dividend of 70 paise in the rupee from the official receiver of Manoj who owed us Rs. 8,000. (iv) Goods costing Rs. 40,000 sold to Mr. X at a profit of 20% on sales less 10% trade discount. (v) Salary due to employees Rs. 20,000. (vi) Place on Fixed Deposit Account at Bank by transfer from Current Account Rs. 5,000.
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