Page 182 - ISCDEBK-XI

Final Accounts—With Adjustments 20.15
(d) (i) Charity A/c ...Dr. 1,000
Advertisement A/c ...Dr. 4,500
To Purchases A/c 5,500
(Being adjusting entry for goods given as charity and as samples)
(ii) Trading A/c ...Dr. 26,500
To Purchases A/c (` 30,000 + ` 2,000 – ` 5,500) 26,500
(Being the closing entry for purchases)

(e) (i) Accrued Interest on Securities A/c ...Dr. 2,500
To Interest on Securities A/c 2,500
(Being adjusting entry for accrued interest)
(ii) Interest on Securities A/c ...Dr. 2,500
To Profit & Loss A/c 2,500
(Being the closing entry for interest on securities)
(f) (i) Apprentice Premium A/c ...Dr. 20,000
To Apprentice Premium Received in Advance A/c 20,000
(Being the adjusting entry for apprenticeship Premium)

(ii) Apprentice Premium A/c (` 30,000 – ` 20,000) ...Dr. 10,000
To Profit & Loss A/c 10,000
(Being the closing entry for apprentice premium)
(g) (i) Depreciation on Furniture A/c ...Dr. 6,000
To Furniture A/c 6,000
(Being adjusting entry for depreciation on furniture)
(ii) Profit & Loss A/c ...Dr. 6,000
To Depreciation on Furniture A/c 6,000
(Being the closing entry for depreciation on furniture)

(h) (i) Machinery A/c ...Dr. 3,000
To Wages A/c 3,000
(Being the adjusting entry for wrongly debiting the Wages Account)
(ii) Trading A/c ...Dr. 37,000
To Wages A/c (` 40,000 – ` 3,000) 37,000
(Being the closing entry for wages)

(i) Sundry Debtors A/c ...Dr. 10,000
To Machinery A/c 10,000
(Being the adjusting entry for wrongly debiting the Machinery A/c

(j) Sundry Debtors A/c ...Dr. 12,000
To Bills Receivable A/c 12,000
(Being the adjusting entry for wrongly debiting the Bills Receivable
dishonoured to Bills Receivable Account)

(k) Profit & Loss A/c ...Dr. 3,200
To Provision for Doubtful Debts A/c 3,200
(Being the adjusting and closing entry for provision for doubtful debts)
[5/100 (` 42,000 + ` 10,000 + ` 12,000)]