Question

Journalise the following:−

2017
March 4		Purchased building for ₹ 1,50,000 and incurred expenses of ₹ 10,000 on its purchase.
March 10		Satish who owed us ₹ 20,000 is declared insolvent and 60 paise per ₹ is received from his estate.
March 15		Paid ₹ 500 for repairing the office furniture.
March 18		Proprietor withdrew for his personal use cash ₹ 5,000 and goods worth ₹ 2,000.
March 20		Purchased the following items for business:
		Iron Safe ₹ 15,000; Filing Cabinet ₹ 5,000; Computer ₹ 12,000; Postage ₹ 200 and Stationery ₹ 150.
March 28		Paid electricity charges ₹ 1,600.
March 31		Charge depreciation on Machinery @ 10% for one year (Machinery ₹ 75,000).
March 31		Outstanding wages at the end of the year ₹ 6,000.

Answer 1

Journal In the Books of …
Date	Particulars		L.F.	Debit Amount (Rs)	Credit Amount (Rs)
2017
Mar. 04	Building A/c	Dr.		1,60,000
	To Bank A/c				1,60,000
	(Building purchased and expenses paid)
Mar. 10	Cash A/c	Dr.		12,000
	Bad Debts A/c			8,000
	To Satish’s A/c				20,000
	(Cash received from Satish and bad debts written-off)
Mar. 15	Repairs A/c	Dr.		500
	To Cash A/c				500
	(Payment made for repair of office furniture)
Mar. 18	Drawings A/c	Dr.		7,000
	To Cash A/c				5,000
	To Purchases A/c				2,000
	(Cash and goods withdrawn for personal use)
Mar. 20	Office Equipment A/c	Dr.		32,000
	To Cash A/c				32,000
	(Purchased iron safe, filling cabinet and typewriter)
Mar. 20	Postage & Stationery A/c	Dr.		350
	To Cash A/c				350
	(Expenses paid for postage and stationery)
Mar. 28	Electricity Charges A/c	Dr.		1,600
	To Cash A/c				1,600
	(Paid electricity charges)
Mar. 31	Depreciation A/c	Dr.		7,500
	To Machinery A/c				7,500
	(Depreciation charged on machinery)
Mar. 31	Wages A/c	Dr.		6,000
	To Outstanding Wages A/c				6,000
	(Outstanding wages recorded)
	TOTAL			2,34,950	2,34,950