Question

Un 1st January, 2016 Mr Veer Das decided to start a driving school dulu dibU LU JUII U
accessories through same place. For this purpose he bought a workshop at a cost of
20,00,000 and decided to invest 7,50,000 as a further capital in the proposed business.
He employed assistants and training staff for this purpose. He wants to start with 5 second
hand cars. For further funds he approached Punjab National Bank and secured a loan of
18,00,000 @ 10% per annum. The loan was payable in 4 instalments along with interest due.
Amt (5)
Purchased cars
13,00,000
Security depsoited for electricity connection with electricity board
60,000
Security deposited with BSNL for telephone and Internet connection
1,50,000
Purchased furniture
1,20,000
Fees received from students
19,50,000
Bought car accessories
3,30,000
Sale of car accessories
4,80,000
Wages paid
2,70,000
Salaries paid
3,75.000
Electricity charges
1,42,500
Advertisement
66.000
Postage and call
28,500
General expenses
18,000
Insurance premium
13,800
Bought laptop and printer
90,000
He withdrew 36,000 per month as drawings and repaid the annual instalment of bank
loan along with interest due to 31st December, 2016. Assume all transactions took place
through Punjab National Bank.
You are required to
(1) Journalise these transactions after considering the following information
(1) Depreciate building by 5% and cars and furniture @ 10% per annum
(ii) Stationery unpaid * 27,000
(iii) Advertisement include unissued material worth 12,000.
C
Insurancoronaid A50​

Answer 1

Answer:

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Answer 2

Answer:

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