Jouranlise the following transactions in the books of Harpreet Bros.:

(a)

Rs 1,000 due from Rohit are now bad debts.

(b)

Goods worth Rs 2,000 were used by the proprietor.

(c)

Charge depreciation @ 10% p.a for two month on machine costing Rs 30,000.

(d)

Provide interest on capital of Rs 1,50,000 at 6% p.a. for 9 months.

(e)

Rahul become insolvent, who owed is Rs 2,000 a final dividend of 60 paise in a rupee is received from his estate.

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Solution

Books of Harpreet Bros.

Journal

S. No.

Particulars

L.F.

Debit Amount Rs

Credit Amount Rs

(a)

Bad Debt A/c

Dr.

1,000

To Rohit (Debtors)

1,000

(Due from Rohit became bad debt)

(b)

Drawings A/c

Dr.

2,000

To Purchases A/c

2,000

(Goods withdrawn by proprietor for personal use)

(c)

Depreciation A/c

Dr.

500

To Machinery A/c

500

(Depreciation charged on machinery for two

months)

(d)

Interest on Capital A/c

Dr.

6,750

To Capital A/c

6,750

(Interest on capital at 6% due for 9 months)

(e)

Bad Debt A/c

Dr.

800

Cash A/c

Dr.

1,200

To Rahul (Debtor)

2,000

(Received from Rahul 60 paise in a rupee and rest amount considered as bad debt)

Total

12,250

12,250

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Similar questions

Journalise the following transactions in the books of Harpreet Bros

(a) Rs 1,000 due from Rohit are now bad debts.

(b) Goods worth Rs 2,000 were used by the proprietor.

(d) Provide interest on capital of Rs 1,50,000 at $6 %$ per month for 9 months.

(e) Rahul become insolvent, who owed is Rs 2,000 a final dividend of 60 paise in a rupee is received from his estate.

Prepare Journal from the transactions given below :

		Rs
(a)	Cash paid for installation of machine	500
(b)	Goods given as charity	2,000
(c)	Interest charge on capital @ 7% p.a. when total capital were	70,000
(d)	Received Rs 1,200 of a bad debts written-off last year.
(e)	Goods destroyed by fire	2,000
(f)	Rent outstanding	1,000
(g)	Interest on drawings	900
(h)	Sudhir Kumar who owed me Rs 3,000 has failed to pay the amount. He pays me a compensation of 45 paise in a rupee.
(i)	Commission received in advance	7,000

Q. Prepare journal from the transactions given below:−
(a) Proprietor withdrew for private use ₹ 10,000 from bank.
(b) Goods costing ₹ 50,000 were burnt by fire.
(c) Purchased machinery for cash ₹ 1,50,000 and paid ₹ 2,000 on its installation.
(d) Charge 5% depreciation on building costing ₹ 2,00,000 and 8% depreciation on furniture costing ₹ 5,000.
(e) Prepaid salary ₹ 2,000.
(f) Kapil who owed us ₹ 20,000 becomes insolvent and nothing is received from his estate.

Prepare accounting equation from the following
(i) Started business with cash Rs. 1,00,000 and machinery Rs. 80,000.
(ii) Purchased goods for cash Rs. 20,000 and on credit Rs. 30,000.
(iii) Sold goods for cash costing Rs. 10,000 and on credit costing Rs. 15,000 both at a profit of 20%
(iv) Cash withdrawn for personal use Rs. 10,000.
(v) Accrud interest Rs. 2,000.
(vi) Rent received in advance Rs. 1,000.
(vii) Interest on capital @ 10% (only on cash introduced as capital).
(viii) Interest on drawings charged @ 5% (Total drawings till now is Rs. 10,000).
(ix) Depreciation on machinery provided @ 10%.
(x) Rent paid in cash Rs. 1,000 and rent outstanding Rs. 500.
(xi) Prepaid insurance Rs. 1,000.
(xii) Bad debts written off Rs. 1,000.

Q. Received a first and final dividend of

60

paise in the rupee from the Official Receiver of Mr. Ram who owed

R s . 2, 000

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(a)	Rs 1,000 due from Rohit are now bad debts.
(b)	Goods worth Rs 2,000 were used by the proprietor.
(c)	Charge depreciation @ 10% p.a for two month on machine costing Rs 30,000.
(d)	Provide interest on capital of Rs 1,50,000 at 6% p.a. for 9 months.
(e)	Rahul become insolvent, who owed is Rs 2,000 a final dividend of 60 paise in a rupee is received from his estate.

Books of Harpreet Bros.
Journal
S. No.		Particulars		L.F.	Debit Amount Rs	Credit Amount Rs
(a)	Bad Debt A/c		Dr.		1,000
		To Rohit (Debtors)				1,000
	(Due from Rohit became bad debt)

(b)	Drawings A/c		Dr.		2,000
		To Purchases A/c				2,000
	(Goods withdrawn by proprietor for personal use)

(c)	Depreciation A/c		Dr.		500
		To Machinery A/c				500
	(Depreciation charged on machinery for two months)

(d)	Interest on Capital A/c		Dr.		6,750
		To Capital A/c				6,750
	(Interest on capital at 6% due for 9 months)

(e)	Bad Debt A/c		Dr.		800
	Cash A/c		Dr.		1,200
		To Rahul (Debtor)				2,000
	(Received from Rahul 60 paise in a rupee and rest amount considered as bad debt)

		Total			12,250	12,250