Question No 31 Chapter No 5 – D.K Goal Class 11

Question No 31 Chapter No 5

31. Journalise the following transaction :-

2019		Rs
Mar.1	Started business with cash	60,000
Mar.2	Purchased Machinery for cash	20,000
	Paid installation charges on machinery	2,000
Mar.5	Purchased goods from X of the list price of 25,000, Trade Discount 20% and cash discount 5%. Payment was made in cash immediately
Mar.10	Sold goods to Y costing 10,000 at 30% profit on cost less 10% trade discount.
Mar.15	Paid Rent	1,000
Mar.20	Goods stolen from business	2,000
Mar.22	Gave as charity :
	Cash	100
	Goods	200
Mar.31	Purchased Post Cards and Envelopes	50
Mar.31	Purchased a Computer for business	25,000

 

The solution of Question No 31 Chapter No 5: –

In the Books of Radhika Traders
Date	Particulars		L.F.	Debit	Credit
2019
Mar.1	Cash A/c	Dr.		50,000
	To Capital A/c				50,000
	(Being Started business with cash)
Mar.2	Machinery A/c	Dr.		22,000
	To Cash A/c				22,000
	(Being Machinery purchased for cash and installation charges paid)
Mar.5	Purchases A/c	Dr.		20,000
	To Cash A/c				19,000
	To Discount Received A/c				1,000
	(Being Goods purchased for cash and received discount)
Mar.10	Y’s A/c	Dr.		11,700
	To Sales A/c				11,700
	(Being Goods sold on credit to Y at 30)
Mar.15	Rent A/c	Dr.		1,000
	To Cash A/c				1,000
	(Being Rent paid)
Mar.20	Loss by Theft A/c	Dr.		2,000
	To Purchases A/c				2,000
	(Being Goods stolen from bacusiness)
Mar.22	Charity A/c	Dr.		300
	To Cash A/c				200
	To Purchases A/c				100
	(Being Charity given)
Mar.31	Postage A/c	Dr.		50
	To Cash A/c				50
	(Being Paid for postage )
Mar.31	Computer A/c	Dr.		25,000
	To Cash A/c				25,000
	(Being Computer purchased)

 

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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)