(Solution Download) Journalize the following transactions in the books


a) Paid rent of building $ 12,000 half of the building is used by the proprietor for residential use.

 

b) Paid fire insurance of the above building in advance $ 1,000.

 

c) Paid life insurance premium $ 2,000.

 

d) Paid income-tax $ 3,000.

 

e) Salary due to clerk $ 500.

 

f) Charge depreciation on furniture @ 10% p.a. for 1 month (furniture $ 12,000).

 

g) Provide interest on capital ($ 60,000) at 15% p.a. for 6 months.

 

h) Charge interest on drawing (10,000) at 18% p.a. for 6 months.

 

i) Provide interest on loan to Ram ($ 100,000) at 18% p.a. for 2 months.

 

j) Charge interest on loan to Shyam ($ 200,000) at 18% p.a. for 2 months.

 

k) Received commission $ 1,000 half of which is in advance.

 

l) Brokerage due to us $ 500.

 







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