Question No 33 Chapter No 5 - D.K Goal Class 11

Question No 33 Chapter No 5

33. Journalise the following transaction :-

(i).	Bought goods from Arun for 2,00,000 at a trade discount of 15% and cash discount of 2%. Paid 80% amount immediately.
(ii)	Purchased foods for 20,000 from X and supplied it to Y for 26,000.
(iii)	Cash withdrawn from bank 5,000 for personal use and 25,000 for office use.
(iv)	Goods destroyed by fire : Cost Price 40,000.
(v)	Provide 20% depreciation on machinery costing 50,000.
(vi)	Out of insurance paid this year, 3,000 is related to next year
(vii)	Allow 5,000 as interest on capital and charge 1,000 as interest on drawings
(viii)	Sohan who owed us 25,000 was declared insolvent and a cheque of 40 paise in a is received from him in full settlement.
(ix)	Paid Income Tax 10,000 by cheque.
(x)	Salary paid 80,000 and Salary Outstanding 20,000.

The solution of Question No 33 Chapter No 5: –

In the Books of Radhika Traders
Date	Particulars		L.F.	Debit	Credit
2019
i	Purchases A/c *	Dr.		3,25,000
	To Arun’s A/c				34,000
	To Cash A/c				1,33,280
	To Discount Received A/c				2,720
	(Being Goods purchased and 80 paid)

ii	Purchases A/c	Dr.		20,000
	To X’s A/c				20,000
	(Being goods purchased on credit from X)

	Y’s A/c	Dr.		26,000
	To Sales A/c				26,000
	(Being goods sold on credit to Y)

iii	Cash A/c	Dr.		25,000
	Drawings A/c	Dr.		5,000
	To Bank A/c				30,000
	(Being Cash withdrawn from bank for personal and office use)

iv	Loss by Fire A/c	Dr.		40,000
	To Purchases A/c				40,000
	(Being Goods destroyed by fire)

v	Depreciation A/c	Dr.		10,000
	To Machinery A/c				10,000
	(Being Depreciation charged on machinery)

vi	Prepaid Insurance A/c	Dr.		3,000
	To Insurance A/c				3,000
	(Being Insurance paid in advance )

vii	Interest on Capital A/c	Dr.		5,000
	To Capital A/c				5,000
	(Being Allowed interest on capital)

	Drawings A/c	Dr.		1,000
	To Interest on Drawings A/c				1,000
	(Being Charged interest on drawings )

viii	Cash A/c	Dr.		10,000
	Bad Debts A/c	Dr.		15,000
	To Sohan’s A/c				25,000
	(Being Cash received from Sohan and bad debts written −off)

ix	Drawings A/c	Dr.		10,000
	To Bank A/c				10,000
	(Being Income tax paid)

x	Salaries A/c	Dr.		1,00,000
	To Cash A/c				80,000
	To Outstanding Salaries A/c				20,000
	(Being Salary paid and outstanding)

Working Note: –

Calculation of payment made and outstanding amount to Arun*