SET 7: Solved Adjustment Entries

(Final Accounts के लिए)

Q61. Closing Stock

Closing Stock A/c Dr 18,000
  To Trading A/c 18,000

Q62. Outstanding Salary

Salary A/c Dr 6,000
  To Outstanding Salary A/c 6,000

Q63. Prepaid Rent

Prepaid Rent A/c Dr 4,000
  To Rent A/c 4,000

Q64. Accrued Interest Income

Accrued Interest A/c Dr 5,000
  To Interest Income A/c 5,000

Q65. Prepaid Insurance

Prepaid Insurance A/c Dr 8,000
  To Insurance A/c 8,000

Q66. Bad Debts Written Off

Bad Debts A/c Dr 3,500
  To Debtors A/c 3,500

Q67. Provision for Bad Debts @ 5%

(5% of ₹40,000 = ₹2,000)

Profit & Loss A/c Dr 2,000
  To Provision for Bad Debts A/c 2,000

Q68. Depreciation on Machinery @10%

(10% of ₹50,000 = ₹5,000)

Depreciation A/c Dr 5,000
  To Machinery A/c 5,000

Q69. Goods Withdrawn for Personal Use

Drawings A/c Dr 7,000
  To Purchase A/c 7,000

Q70. Loss of Stock by Fire (Included in Closing Stock)

Loss by Fire A/c Dr 2,000
  To Closing Stock A/c 2,000