Question No 30 Chapter No 5 – D.K Goal Class 11

Question No 30 Chapter No 5

30. Journalise the following transaction:-

		Rs
1	Charge depreciation on Machinery	20,000
2	Salary due to office Clerks	1,00,000
3	Received cash for Bad- debts written off last year	5,000
4	Purchased goods from Ashok & Co. for Rs 50,000 at 20% Trade discount. Half the payment was made in cash
5	Issued cheque to Ashok & Co. in full settlement	19,500
6	Paid life insurance Premium by cheque	6,000
7	Proprietor used goods for household purpose	20,000
8	Goods given free to a hospital out of business	10,000

 

The solution of Question No 30 Chapter No 5: –

In the Books of Radhika Traders
Date	Particulars		L.F.	Debit	Credit
2019
1	Depreciation A/c	Dr.		20,000
	To Machinery A/c				20,000
	(Being Depreciation charged on machinery)
2	Salary A/c	Dr.		1,00,000
	To Outstanding Salary A/c				1,00,000
	(Being Salary due to office clerks)
3	Cash A/c	Dr.		5,000
	To Bad Debts Recovered A/c				5,000
	(Being Bad debts recovered)
4	Purchases A/c	Dr.		40,000
	To Ashok & Co				20,000
	To Cash A/c				20,000
	(Being goods purchased)
5	Ashok & Co.	Dr.		20,000
	To Bank A/c				19,500
	To Discount Received A/c				500
	(Being Payment made to Ashok & Co. in full settlement)
6	Drawings A/c	Dr.		6,000
	To Cash A/c				6,000
	(Being Payment made for life insurance premium)
7	Drawings A/c	Dr.		20,000
	To Purchases A/c				20,000
	(Being Goods used for household purposes)
8.	Charity A/c	Dr.		10,000
	To Purchases A/c				10,000
	(Being Goods given away as a charity)

 

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Also, Check out the solved question of all Chapters: –

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

Chapter 4 Double Entry System

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)

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)