CHAPTER 9: BOOK OF ORIGINAL ENTRY - JOURNAL, ANSWER TO ASSIGNMENT#13


TASK 

CHECK THE ANSWERS TO ASSIGNMENT # 13
ANSWERS TO ASSIGNMENT # 13

1. Goods of ₹ 2,000 lost in transit.

2. Goods costing ₹ 3000 destroyed by fire. They were not insured.

3. Goods of ₹ 4000 were destroyed by fire and Insurance company accepted and paid the full claim.

4. Goods damaged by fire ₹1000 and Insurance company accepted and paid claim of rupees 800.

5. Charge interest on drawings ₹ 2,000

6.Receive the cheque of ₹ 9500 from Mahesh in full settlement of ₹ 9650 and deposited into Bank

7. Cheque received from Mahesh dishonoured. Bank charged ₹ 150

8.Cheque received from Raja ₹11,000.

9.. Raja's cheque was endorsed to Shyam in full settlement of ₹ 11,800.

10.Raja's cheque returned dishonoured.




DATE
PARTICULARS
LF
DEBIT (Rs.)
CREDIT (Rs.)
1




Loss of goods in transit A/C..Dr
To PurchasesA/C

(Being goods lost in transit)

  2000


 2000 

2
Loss by fire A/C…Dr
To Purchases A/C

(Being goods lost by fire)

 3000

 3000
3
Loss by fire A/C…Dr
To Purchases A/C

(Being goods destroyed by fire)

Insurance Co...Dr
                To Loss by fire A/C
(Being loss of goods by fire to be recovered from the Insurance company)

Bank A/C...Dr
               Insurance Co.A/C
(Being Insurance claim received)


 4000



 4000




 4000

 4000



 4000




 4000

4
Loss by fire A/C…Dr
To Purchases A/C
(Being goods destroyed by fire)

Insurance Co. A/C...Dr
                To Loss by fire A/C
(Being amount to be recovered from the Insurance Co.)

1,000



  800

1,000



  800

5
Drawings A/C…Dr
To Interest on drawings A/C 
(Being Interest on drawings charged)

 2,000

 2,000
6
Bank A/C…Dr
Disc. All...Dr
To  Mahesh A/C
(Being cheque received from Mahesh in full settlement)

 9,500
    150


 9,650
7
Mahesh's A/C…Dr (9650 + 150)
To Bank A/C (9500 + 150)
To To Disc. all A/C

(Being cheque recd from Mahesh dishonoured and bank charges of 150 be recovered from Mahesh)


  9800

   9650
     150
8
Cheque in hand…Dr
To Raja's A/C

(Being cheque received from Raju)

11,000


 11,000



9
Shyam's  A/C…Dr
To cheque in handA/c
To Disc recd A/c

(Being cheque recd from Raju endorsed to Shyam after receiving discount )

 11,800

  11,000
      800
10
Raja's  A/C…Dr 
Disc. Recd A/C... Dr.
To Shyam's A/C

(Being cheque received from Raja, dishonoured  

 11,000
      800



    


 11800



 

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