Journalise the following transactions: Shyam became insolvent. A first and final compensation of 75 paise in a rupee was received from his official receiver. He owed a debt of 10,000
Journalise the following transactions:
| 2022 (a) | Shyam became insolvent. A first and final compensation of 75 paise in a rupee was received from his official receiver. He owed a debt of | 10,000 |
| (b) | Received cash for a bad debt written off last year | 5,000 |
| (c) | Rent due to landlord | 8,000 |
| (d) | Depreciation on office furniture | 1,000 |
| (e) | Salaries due to staff | 10,000 |
| (f) | Paid income tax | 30,000 |
| (g) | Received commission ₹ 5,000, half of which is in advance. | |
| (h) | Bank levied bank charges | 500 |
| (i) | Sold personal car for ₹ 1,00,000 and deposited the amount in firm’s account |
Anurag Pathak Changed status to publish September 19, 2023
