Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Q . 6 Journalize the following transactions: i . Closing stock is Rs . 5 0 , 0 0 0 ii . Depreciation is to

Q.6 Journalize the following transactions:
i. Closing stock is Rs.50,000
ii. Depreciation is to be charged at 10% on the furniture, which is valued at Rs.80,000
iii. Interest on capital is to be provided at 15% on the opening balance of Rs.1,00,000
iv. There is a bad debt amounting to Rs.2000
v. Interest received in advance Rs.1500
vi. The proprietor withdrew goods of Rs.10,000 for personal use
vii. Interest on drawings is to be charged Rs.1000
viii. Prepaid telephone charges Rs.8000
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Capital Market Instruments Analysis And Valuation

Authors: M. Choudhry, D. Joannas, G. Landuyt, R. Pereira, R. Pienaar

3rd Edition

0230576036, 9780230576032

More Books

Students also viewed these Accounting questions

Question

Context, i.e. the context of the information presented and received

Answered: 1 week ago