Question

pass the journal entries for the following transactions.(a)rent due to landlord ₹5,000.
(b) capital invested by the proprietor in the buisness ₹50,000 allowed interest on capital @5%p.a.
(c)accured commission ₹12,000.
(d) prepaid interest ₹500
(e) interest on drawings ₹1,150.
(f) Depreciation charged on plant (cost ₹1,25,000)@12%p.a.
(g) goods withdraw for personal use ₹2,400.​

Answer 1

Answer:

e) Drawings a/c -----Dr. 1,150

To interest on drawings a/c 1,150