Muskaan started business with cash ₹ 3,00,000, Stock ₹ 5,00,000 and building ₹ 25,00,000
Pass Journal entries for the following transactions:
(a) Muskaan started business with cash ₹ 3,00,000, Stock ₹ 5,00,000 and building ₹ 25,00,000.
(b) Construction of power-back room ₹ 1,00,000.
(c) Paid insurance premium for stock ₹ 15,000 and self ₹ 7,000.
(d) Goods destroyed by fire ₹ 80,000, Insurance Claim lodged.
(e) Commission received ₹ 25,000, 20% being received in advance.
(f) Insurance company paid 80% in full and final settlement.
(g) Salaries paid ₹ 48,000 and due ₹ 22,000.
(h) Provide Depreciation on Building @ 10% per annum.
Anurag Pathak Changed status to publish September 20, 2023