Journalize the following transaction in the book of
Madhukar for Dec. 2007.
o
Received Rs.20,000 from mother as gift and deposite
the same into Bank account of business.
Answers
Answer:
Journalise the following transactions in the books
of Mohan Singh. Delhi:
(i) Raj of Alwar. Rajasthan who owed Mohan Singh Rs. 25,000 became insolvent and received 60 paise in a rupee as full and final settlement. (ii) Mohan Singh owes to his landlord Rs. 10.000
as rent.
(iii) Charge depreciation of 10% on furniture
costing Rs. 50.000.
(iv) Salaries due to employees Rs. 20,000. (v) Sold to Sunil goods in cash of Rs. 10.000 less 10% trade discount plus CGST and SGST @ 6% each and received a net of Rs. 8.500.
(vi) Provided interest on capital of Rs. 1.00. 000
@10% per annum.
(vii) Goods lost in theft - Rs. 5.000, which were
purchased paying IGST @ 12% from Alwar,
Rajasthan.
Hint:
(vii) Loss of Stock by Theft A/c – Rs. 5,600 To Purchase A/c – Rs. 5,000 To Input IGST A/c – Rs. 600Read more on Sarthaks.com - https://www.sarthaks.com/474332/journalise-following-transactions-books-mohan-singh-delhi-alwar-rajasthan-mohan-singh
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