Question No 18 Chapter No 5
18.Pass Journal entries for the following transactions:−
| 1 | Goods for 50,000 were destroyed by fire |
| 2 | Goods worth 18,000 were distributed as free samples and 20,000 were given away as charity in cash. |
| 3 | Goods worth 25,000 and cash 40,000 were taken away by the proprietor for his personal use. |
| 4 | Goods worth 20,000 and cash 5,000 were given away as charity. |
| 5 | Cash 1,00,000 were stolen from the Iron Safe of the trader. |
The solution of Question No 18 Chapter No 5: –
| In the Books of Radhika Traders |
|||||
| Date | Particulars |
L.F. | Debit | Credit | |
| 2019 | |||||
| 1 | Loss by Fire A/c | Dr. | 50,000 | ||
| To Purchases A/c | 50,000 | ||||
| (Being Machinery purchased and paid for carriage) | |||||
| 2 | Advertisement Expenses A/c | Dr. | 18,000 | ||
| To Purchases A/c | 18,000 | ||||
| (Being Goods distributed as free samples ) | |||||
| Charity A/c | Dr. | 20,000 | |||
| To Cash A/c | 20,000 | ||||
| (Being Cash given away as a charity) | |||||
| 3 | Drawings A/c | Dr. | 65,000 | ||
| To Cash A/c | 40,000 | ||||
| To Purchases A/c | 25,000 | ||||
| (Being Goods and cash withdrawn for personal use) | |||||
| 4 | Charity A/c | Dr. | 25,000 | ||
| To Cash A/c | 5,000 | ||||
| To Z’s A/c | 20,000 | ||||
| (Being Goods and cash given away as charity) | |||||
| 5 | Loss by Theft A/c | Dr. | 1,00,000 | ||
| To Cash A/c | 1,00,000 | ||||
| (Being Cash stolen) | |||||
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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
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Chapter 3 Meaning and Objectives of Accounting
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)
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Chapter 15 Bases of Accounting
Chapter 16 Accounting Standards and International Financial Reporting Standard(IFRS) (Coming soon)
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)