Question

RULES OF DEBIT AND CREDIT : JOURNAL
6. Paid income tax
7. Cash used at home
8. Purchased wheat for domestic use
9. Wages payable to Ram Narayan
Ans. Grand Total * 15,580]
Cecord the following events in Journal :
1. Received a first and final dividend of 60 paise in a rupee from the official receiver of Mr. Raj Kun
Jha who owed us * 10,000.
2. Shri Rama Shankar declared insolvent. 525 due from him written off as bad debt as nothing was
from his estate.
. Bought Motor Cycle for personal use for 38,000 and the payment made out of business money-
- Purchased Machinery 50,000 and paid carriage thereon 500.
ns. Grand Total * 1,03,525​

Answer 1

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