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Question No 08 Chapter No 5 – D.K Goal Class 11

Shubham
Question No 08 Chapter No 5

Question No 08 Chapter No 5

08. Pass Journal entries in the books of Raghunath Bros. from the following transactions:-

2016  
Jun.1 Raghunath Bros. started the business with cash 80,000; Goods 40,000 and furniture 20,000.
Jun.2 Sold goods to Nandlal of the list price of 20,000 at a trade discount of 10%.
Jun.4 Nandlal returned goods of the list price of 4,000.
Jun.8 Received from Nandlal 14,150 in full settlement of his account.
Jun.10 Purchased goods from Brij Mohan of the list price of 10,000 at 15% trade discount.
Jun.13 Returned goods to Brij Mohan of the list price of 1,000.
Jun.16 Settled the account of Brij Mohan by paying cash, under a discount of 4%
Jun.18 Purchased goods from Anil 5,000; Sunil 10,000.
Jun.19 Paid cash to Anil 1,900 and discount received 100
Jun.20 Paid 9,800 to Sunil in full settlement of his account
Jun.20 Bought a ‘Table Fan’ for 8,000 for the domestic use of Raghunath.
Jun.25 Sold goods for cash of the list price of 8,000 at 10% trade discount and 3% cash discount.
Jun.30 Paid Rent 8,000; Trade Expenses 7,000 and Travelling Expenses 3,800

 

The solution of Question No 08 Chapter No 5: –

In the Books of Hari Shankar & Co
Date Particulars
 L.F. Debit Credit
2019          
Jun.1 Cash A/c Dr.   80,000  
  Stock A/c Dr.   40,000  
  Furniture A/c Dr.   20,000  
  To Capital A/c       1,40,000
  (Being started business with cash, goods, and furniture.)      
         
Jun.2 Nandlal A/c Dr.   18,000  
  To Sales A/c       18,000
  (Being Goods sold for cash and allowed cash discount)      
           
Jun.4 Sales return A/c Dr.   3,600  
  To Nandlal A/c     3,600
  (Being goods sold to Nandlal returned)      
         
Jun.8 Cash A/c Dr.   14,150  
  Discount allowed A/c Dr.   250  
  To Nandlal A/c     14,400
  (Being cash received from Nandlal in full settlement.)      
         
Jun.10 Purchases A/c Dr.   8,500  
  To Brij Mohan     8,500
  (Being purchased goods from Brij Mohan on credit)      
         
Jun.13 Brij Mohan Dr.   850  
  To Purchase Return A/c     850
  (Being purchased goods returned by Brij Mohan)      
         
Jun.16 Brij Mohan A/c Dr.   7,650  
  To Cash A/c     7,344
  To Discount Received A/c     306
  (Being settled amount due to Brij Mohan.)      
         
Jun.18 Purchases A/c Dr.   15,000  
  To Anil A/c     5,000
  To Sunil A/c     10,000
  (Being credit purchase from Anil & Sunil.)      
         
Jun.19 Anil A/c Dr.   2,000  
  To Cash A/c       1,900
  To Discount received A/c       100
  (Being cash paid to Anil and received discount)        
           
Jun.20 Sunil A/c Dr.   10,000  
  To Cash A/c       9,800
  To Discount received A/c       200
  (Being cash paid to Sunil and received a discount.)        
           
Jun.20 Drawings A/c Dr.   8,000  
  To Cash A/c       8,000
  (Being table fan purchased for personal use.)        
           
Jun.25 Cash A/c Dr.   6,984  
  Discount allowed A/c Dr.   216  
  To Cash A/c       7,200
  (Being cash sales @10)        
           
Jun.30 Rent A/c Dr.   8,000  
  Trade expenses A/c Dr.   7,000  
  Travelling A/c Dr.   3,800  
  To Cash A/c       18,800
  (Being expenses paid in cash)        
         

 

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D K Goel – New ISC Accountancy -(Class 11 – ISC)- Solution

 

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