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P1 C4 Joumal — Account STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceAccountP1 C4 Joumal8 Marks
Question
A learner student has written following journal entry. Journal entry which are incorrect, correct them and rewrite:
Date Particular L.F Debit Credit
$2014$
August $1$		 Insurance premium A/C Dr
To Cash A/C
(Being 700 paid for life insurance premium.)		   $700$ $700$
$5$ Cash A/C Dr
To jay A/C
To Ajay A/C
(Being received $200$ of brokerage jay and 100 of commission from Ajay.)		   $300$ $200
100$
$7$ Purchase A/C Dr
To Vivek A/C
(Being goods of $5000$ purchased from Vivek on cash at $10\%$ cash discount.)		   $4500$ $4500$
$10$ Bank A/C Dr
To Vivek A/C
(Being bank has approved over draft of $7000$.)		   $7000$ $7000$
$11$ Vivek A/C Dr
To Purchase retunes A/C
(Being $20\%$ goods retuned to Vivek and cash received from Vivek.)		   $1000$ $1000$
$12$ Cash A/C Dr
To Debtors A/C
(Being $500$ received from debtor which was written off in past)		   $500$ $500$
$13$ Repairing expenses A/C Dr
To Cash A/C
(Being paid cash $800$ machine installation.)		   $1500$ $1500$
$15$ Wages A/C Dr
To Cash A/C
(Being paid cash $800$ machine installation.)		   $800$ $800$
  Total   $16,300$ $16,300$
✓

Answer

$\text{2014 Aug. 1 Drawings A/c Dr. Rs. 700,}$
$\text{To cash A/c Rs. 700}$
$\text{5. Cash A/c Dr. Rs.300}$,
$\text{To brokerage A/c Rs.200,}$
$\text{To commission A/c Rs.100 7}$
$\text{Purchase A/c Dr. Rs.5000,}$
$\text{To cash A/c Rs.4500,}$
$\text{To discount A/c Rs. 500}$
$\text{10. It is non-economic transaction.}$
$\text{No entry will be done.}$
$\text{11 Cash A/c Dr. Rs. 900,}$
$\text{Discount A/c Dr. Rs. 100,}$
$\text{To purchase return Rs.1000}$
$\text{12. Cash A/c Dr. Rs. 500,}$
$\text{To bad dabts return A/c Rs.500}$
$\text{13.Reparing expense A/c Dr. Rs.500,}$ 
$\text{Drawings A/c Dr. Rs.1000,}$
$\text{To cash A/c Rs. 1500}$
$\text {15. Machine A/c Dr. Rs.800,}$
$\text{To cash A/c Rs.800}$

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