Answer Posted / shabeer shaik

31st Jan:

Salary A/c Dr. Rs.4000.00
To Outstanding Salary A/c cr. Rs.4000.00
(Being 15days(Joining Dt.15th) salary to be paid)


28th Feb:

Outstanding Salary A/c Dr. Rs.4000.00
Salary A/c Dr. Rs.8000.00
Prepaid Salary A/c Dr. Rs.8000.00
To Cash A/c cr. Rs.20000.00
(Being O/s. Salary paid for the month of Jan, salary paid
for the month of Feb and Prepaid salary for the month of
Mar)


31st Mar:

prepaid Salary A/c Dr. Rs.8000.00
To salary A/c Cr. Rs.8000.00
(Being March month salary now adjusted from Prepaid salary
a/c)

Expand ________FIPB

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Q13. Journalise the following transactions: Proprietor withdrew for private use Rs.4000/- from bank and 6000/- cash. Goods Costing Rs.5000 was burnt by fire. Purchase Machinery for cash Rs.150000/- and paid Rs.2000/- on its Installation. Charge 5% Depreciation on building costing Rs.200000/- and 8% Depreciation on Furniture costing Rs.5000/-. Prepaid Salary Rs2000/- Kapil who owed us Rs20000/- become insolvent and nothing is received from his estate.

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