Question No 06 Chapter No 5
06.Pass Journal Entries for the following transactions:
| 2020 | |
| Jan.6 | Sold goods to Muskan of the list price of 2,00,000 at trade discount of 20% |
| Jan.8 | Muskan returned goods of the list price of 5,000 |
| Jan.15 | Received from Muskan the full payment under a cash discount of 4%. |
The solution of Question No 06 Chapter No 5: –
| In the Books of Hari Shankar & Co | |||||
| Date | Particulars |
L.F. | Debit | Credit | |
| 2019 | |||||
| Jan.6 | Muskan’s A/c | Dr. | 1,60,000 | ||
| To Sales A/c | 1,60,000 | ||||
| (Being goods sold to Muskan at trade discount of 20.) | |||||
| Jan.8 | Sales Return A/c | Dr. | 4,000 | ||
| To Muskan’s A/c | 4,000 | ||||
| (Being Goods returned by Muskan deducting trade discount of 20) | |||||
| Jan.15 | Cash A/c | Dr. | 1,49,760 | ||
| Discount Allowed A/c | Dr. | 6,240 | |||
| To Muskan’s A/c | 1,56,000 | ||||
| (Being Cash received from Muskan in full settlement of her account) | |||||
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D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution
Chapter 1 Evolution of Accounting & Basic Accounting Terms
Chapter 2 Accounting Equations
Chapter 3 Meaning and Objectives of Accounting
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Chapter 5 Books of Original Entry – Journal
Chapter 6 Accounting for Goods and Service Tax (GST) (Coming soon)
Chapter 7 Books of Original Entry – Cash Book (Coming soon)
Chapter 8 Books of Original Entry – Special Purpose Subsidiary Books (Coming soon)
Chapter 9 Ledger (Coming soon)
Chapter 10 Trial Balance and Errors (Coming soon)
Chapter 11 Bank Reconciliation Statement (Coming soon)
Chapter 12 Depreciation (Coming soon)
Chapter 13 Bills of Exchange (Coming soon)
Chapter 14 Generally Accepted Accounting Principles(GAAP)
Chapter 15 Bases of Accounting
Chapter 16 Accounting Standards and International Financial Reporting Standard(IFRS) (Coming soon)
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Chapter 17 Capital and Revenue
Chapter 18 Provisions and Reserves
Chapter 19 Final Accounts (Coming soon)
Chapter 20 Final Accounts – With Adjustments (Coming soon)
Chapter 21 Errors and their Rectification (Coming soon)
Chapter 22 Accounts from Incomplete Records – Single Entry System (Coming soon)
Chapter 23 Accounts of Not-for-Profit Organisations (Coming soon)
Chapter 24 Computerised Accounting System (Coming soon)
Chapter 25 Introduction to Accounting Information System (Coming soon)