Question

Record the following transactions in the journal proper of Ram :

(i) Insurance premium paid includes Rs.1,000 as prepaid related to next year.

(ii) Mohan who owed us Rs.10,000 became bankrupt and only 50% amount is recovered

from him.

(iii) Goods worth Rs.4,000 is destroyed by fire but creditors also include Rs.1,500 due to

Ashok.

(iv) Ram decided that he should be allowed interest on capital at 10% p.a.His capital was

Rs.50,000​

Answer 1

Answer:

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