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Question 37 Chapter 4 – Unimax Publications of Class 11

Question 37 Chapter 4 – Unimax Publications of Class 11

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Question 37 Chapter 4 – Unimax Publications of Class 11

37, Journalise the following transactions: 81
(a) Goods worth Rs. 2,600 were given away as charity.
(b)Goods worth Rs. 1,400 were distributed as free samples.
(c) Goods worth Rs. 1,500 were used by proprietor for his personal use.
(d) Goods worth Rs. 6,000 were destroyed by fire and the insurance company admitted claim of Rs. 4,200.
(e) Goods worth Rs. 6,000 were destroyed in a fire. Stock of goods was insured against. fire to the extent of 90% of their value. Insurance company paid proportionate claim in cash.
(f) Goods uninsured worth Rs. 3,600 were destroyed by fire.

The solution of Question 37 Chapter 4 – Unimax Publications of Class 11:

JOURNAL

DateParticulars L.F.DebitCredit
      
(a)Charity A/cDr. 2,600 
 To Purchases A/c   2,600
 (Being goods given away as charity)    
      
(b)Advertisement A/cDr. 1,400 
 To Purchases A/c   1,400
 (Being goods given away as free samples)    
      
(c)Drawings A/cDr. 1,500 
 To Purchases A/c   1,500
 (Being goods withdrawn for personal use)    
      
(d)Insurance Claim A/cDr. 4,200 
 Loss by fire A/cDr. 1,800 
 To Purchases A/c   6,000
 (Being goods destroyed by fire and insurance company admitted claim of 4,200)    
      
(e)Cash A/cDr. 5,400 
 Loss by fire A/cDr. 600 
 To Purchases A/c   6,000
 (Being goods lost.by fire and insurance company admitted claim of 90% value and received by cash)    
      
(f)Loss by fire A/cDr. 3,600 
 To Purchases A/c   3,600
 (Being goods lost by fire which were not insured)    
 Grand Total 21,10021,100

End of Solution


Check Out the Solution of all questions for this chapter:

The solutions to all questions of Chapter No. 4 – Journal Unimax – Class 11 are shown as follows, click on the image of the question to get the solution.

Question 5a Chapter 4 – Unimax Publications of Class 11

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Question 13 Chapter 4 – Unimax Publications of Class 11

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Question 24 Chapter 4 – Unimax Publications of Class 11

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Question 36 Chapter 4 – Unimax Publications of Class 11

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Question 48 Chapter 4 – Unimax Publications of Class 11

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1. Comprehensive Solutions for All Chapters of Advanced Accountancy I Class 11 by Unimax

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2. Punjab School Education Board (PSEB) Solutions of Usha Publication.

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