Question

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

Answer 1

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	(Goods withdrawn by proprietor for personal use)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) (Received from Rahul 60 paise in a rupee an rest amount considered as bad debt)			2,000
	Total		12,250	12,250