Journalize the following transactions in the books of Harpreet

CBSE Class 11
1

Journalize the following transactions in the books of Harpreet and open all the ledger accounts.

a) Rs. 1,000 due from Rohit are now bad-debts.
b) Goods worth Rs. 2,000 were used by the proprietor for his personal use.
c) Charge depreciation @ 10% p.a. for two months on machine costing Rs. 30,000.
d) Rahul who owed Rs. 2,000 became insolvent. A final dividend of 60 paise in a rupee is received from his estate.

2

a) Bad Debts A/c Dr. 1,000
To Rohit’s A/c 1,000

b) Drawings A/c Dr. 2,000
To Purchases A/c 2,000

c) Depreciation A/c Dr. 500 (3,000x10%x2/12)
To machinery A/c 500

d) Cash A/c Dr. 1,200
Bad Debts A/c Dr. 800
To Rahul’s A/c 2,000

You can use the above provided journal entries for your reference and frame the required T- accounts in the books of Harpreet.