13. Give the necessary entries in the Journal Proper of Gurman on 31st March, 2024 to close his books: 

Freehold Premises 30,000; Plant and Machinery 20,000; Sundry Debtors 25,000; 

Purchases 37,500; Sales 95,000; Discount (Dr.) 150; Discount (Cr.) 175; Sundry Creditors 12,500; Carriage Inwards 375; Carriage Outwards 600; Furniture and Fixtures 2,500;  Wages 5,000; Bad Debts 750; Salaries 3,600; Commission (Cr.) 2,125; Capital Account 32,500; Trade Expenses 2,550: Opening Stock 22,075; Closing Stock  10,000; Ram’s Loan Account 20,000; Cash in Hand 9,075; Cash at Bank 3,125.

  T.S.Grewal/2024 Edition/Practical Problems/Q-13

For full question, please refer to the text book T.S.Grewal’s Double Entry Book Keeping-Financial Accounting, Textbook for CBSE Class XI published by Sultan Chand & Sons Pvt. Ltd.

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