Question

Journalise the following transactions:

(a) (b) (c) (d) (e) (f) (g)

Shyam became insolvent. A first and final compensation of 75 paise in a rupee was received from his official receiver. He owed a debt of Received cash for a bad debt written off last year Rent due to landlord Depreciation on office furniture Salaries due to staff Paid income tax Received commission ₹ 25,000, half of which is in advance

₹ 50,000 25,000 40,000 5,000 50,000 1,50,000

Answer 1

Journal
Date	Particulars		L.F.	Debit Amount (₹)	Credit Amount (₹)
(a)	Cash A/c	Dr.		37,500
	Bad-Debts A/c	Dr.		12,500
	To Shyam A/c				50,000
	(75 paise in a rupee received from Shyam)
(b)	Cash A/c	Dr.		25,000
	To Bad-Debts Recovered A/c				25,000
	(Received cash against debts written off as bad earlier)
(c)	Rent A/c	Dr.		40,000
	To Rent Outstanding A/c				40,000
	(Rent due)
(d)	Depreciation A/c	Dr.		5,000
	To Office Furniture A/c				5,000
	(Depreciation on office furniture)
(e)	Salary A/c	Dr.		50,000
	To Salary Outstanding A/c				50,000
	(Salary due)
(f)	Drawings A/c	Dr.		1,50,000
	To Cash A/c				1,50,000
	(Paid income tax)
(g)	Cash A/c	Dr.		25,000
	To Commission A/c				12,500
	To Commission Received in Advance A/c				12,500
	(Commission received, half of which is advance)