Prepare journal from the transactions given below: 1. Proprietor withdrew for private use ₹ 10,000 from bank. 2. Goods costing ₹ 50,000 were burnt by fire. 3. Purchased machinery for cash ₹ 1,50,000 and paid ₹ 2,000 on its installation. 4. Charge 5% depreciation on building costing ₹ 2,00,000 and 8% depreciation on furniture costing ₹ 5,000. 5. Prepaid salary ₹ 2,000. 6. Kapil who owed us ₹ 20,000 becomes insolvent and nothing is received from his estate.

Prepare journal from the transactions given below: 1. Proprietor …

Question

Prepare journal from the transactions given below:

Proprietor withdrew for private use ₹ 10,000 from bank.
Goods costing ₹ 50,000 were burnt by fire.
Purchased machinery for cash ₹ 1,50,000 and paid ₹ 2,000 on its installation.
Charge 5% depreciation on building costing ₹ 2,00,000 and 8% depreciation on furniture costing ₹ 5,000.
Prepaid salary ₹ 2,000.
Kapil who owed us ₹ 20,000 becomes insolvent and nothing is received from his estate.

2017		₹
Jan. 01	Started business with cash	1,65,000
Jan. 02	Opened bank account in PNB	80,000
Jan. 04	Goods purchased from Tara	22,000
Jan.05	Goods purchased for cash	30,000
Jan.08	Goods sold to Naman	12,000
Jan.10	Cash paid to Tara	22,000
Jan.15	Cash received from Naman	11,700
	Discount allowed	300
Jan. 16	Paid wages	200
Jan. 18	Furniture purchased for office use	5,000
Jan. 20	Withdrawn from bank for personal use	4,000
Jan. 22	Issued cheque for rent	3,000
Jan. 23	Goods issued for house hold purpose	2,000
Jan. 24	Drawn cash from bank for office use	6,000
Jan. 26	Commission received	1,000
Jan. 27	Bank charges	200
Jan. 28	Cheque given for insurance premium	3,000
Jan. 29	Paid salary	7,000
Jan. 30	Cash sales	10,000