Question

Pass journal entries for the following:
(a) Proprietor withdrew for private use Rs. 10,000
from bank.
(b) Goods costing Rs. 50,000 were burnt by fire.
(c) Purchased machinery for cash Rs. 1,50,000 and
paid Rs. 2,000 on its installation.
(d) Charge 5% depreciation on building costing Rs.
2,00,000.
(e) Prepaid Salary Rs. 2,000.​

Answer 1

1. drawings ac to bank ac
2. goods lost in fire ac to purchases ac
3. machinery ac, installation ac to cash ac
4. depreciation ac to building ac
5. prepaid salary ac to cash ac