Question

Q1 pass necessary journal entries for the following transaction: -
April 1 - goods withdraw by owner of ₹1000 for personal use. April 2 - goods distributed as a sample......... ₹500.
April 3 - goods given as charity......₹300.
April 4 - timber used for making office furniture (assuming that the furniture is a timber merchant)
April 5 - goods destroyed by fire.....₹3500
April 6 - goods lost in transit....₹2000​

Answer 1

Answer:

drawings a/c dr. 1000

To purchase a/c. 1000

free samples a/c. dr. 500

To purchase a/c. 500

charity. a/c. dr. 300

To purchase ba/c. 300

furniture a/c. dr

To purchase a/c

loss by fire. dr. 3500

To purchase a/c. 3500

loss by accident a/c. dr. 2000

To purchase a/c. 2000

Explanation:

purchsse a/c is open because goods are disturbed as charity freesample

Answer 2

Answer:

the journal entry for the given problem is as follows:

1. drawings a/c              dr.

  to purchases a/c

2. advertisement a/c    dr.

   to purchases a/c

3. charity a/c                 dr.

   to purchases a/c

4. office furniture a/c   dr.

   to purchases a/c

5.  loss by fire a/c         dr.

    to purchases a/c

6.   loss in transit a/c     dr.

     to purchases a/c

Explanation: