smoothy_sweety
May 6, 2011, 03:12 PM
Can someone please help me solve the following question:
Journalize the following transactions in the book of Mr Walter:
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.
Thanks a lot.
Journalize the following transactions in the book of Mr Walter:
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.
Thanks a lot.