[CBSE] Q 14 Solutions Special Purpose Books II other Book TS Grewal (2022-23)

Question number 14 solution special purpose book II other books TS Grewal class 11 CBSE 2022 – 23

(Transfer Entries). Give the Journal entries for the following:

(i) Gross Profit of ₹ 32,000 from Trading Account to Profit & Loss Account.

(ii) Net Profit of ₹ 14,500 to Capital Account of Sri Sankar Saha.

(iii) Sri Sankar Saha draws ₹ 10,000 from his Capital Account.

(iv) Purchases Return of ₹ 7,000.

(v) Sales Return 0f ₹ 6,000.

Solution:-