SET 6 : Solved Journal Entries

SET 6 : Solved Journal Entries

Q51. Purchase – Cash + Bank

Purchase A/c Dr 30,000
  To Cash A/c 20,000
  To Bank A/c 10,000
(Being goods purchased, paid partly in cash and partly by bank)

Q52. Sales – Cash + Credit

Cash A/c Dr 10,000
Debtors A/c Dr 8,000
  To Sales A/c 18,000
(Being goods sold partly for cash and partly on credit)

Q53. Rent Paid with Prepaid

Rent A/c Dr 9,000
Prepaid Rent A/c Dr 3,000
  To Cash A/c 12,000
(Being rent paid including prepaid amount)

Q54. Outstanding Salary

Salary A/c Dr 9,000
  To Outstanding Salary A/c 9,000
(Being salary outstanding)

Q55. Accrued Interest Income

Accrued Interest A/c Dr 6,000
  To Interest Income A/c 6,000
(Being interest income accrued)

Q56. Machinery Purchased – Cash + Loan

Machinery A/c Dr 25,000
  To Cash A/c 5,000
  To Bank Loan A/c 20,000
(Being machinery purchased partly for cash and partly on loan)

Q57. Bad Debts and Provision

Bad Debts A/c Dr 8,000
Profit & Loss A/c Dr 1,200
  To Provision for Bad Debts A/c 9,200
(Being bad debts written off and provision created)

Q58. Insurance Paid with Prepaid

Insurance Expense A/c Dr 11,000
Prepaid Insurance A/c Dr 4,000
  To Cash A/c 15,000
(Being insurance paid including prepaid amount)

Q59. Drawings (Cash + Goods)

Drawings A/c Dr 10,000
  To Cash A/c 7,000
  To Purchase / Stock A/c 3,000
(Being cash and goods withdrawn by owner for personal use)

Q60. Loss of Stock by Fire (Insurance Claim)

Loss by Fire A/c Dr 20,000
  To Stock A/c 20,000
(Being goods destroyed by fire)

Insurance Claim A/c Dr 15,000
  To Loss by Fire A/c 15,000
(Being insurance claim admitted)