Question

Paid proprietor's life insurance premium Rs. 1,300 and paid Rs. 2,500 a
insurance premium on business property.​

Answer 1

Answer:

1-- Drawings a/c dr 1300

cash a/c cr 1300

It will be disclosed with capital.

2- Premium a/c dr 2500

cash a/c cr 2500

It will be disclosed into p/l ac

p/l ac dr

premium ac cr

Answer 2

Explanation:

drawings A/c........... .........dr ............1300

insurance premium A/c..dr...........2500

To bank A/c. ......... 3800