37. Journalise the following transactions in the books of Prakash : (i) Opened a current account with Punjab National Bank ₹1,00,000. (ii) Received a cheque of ₹12,900 from Chandradev and allowed discount ₹300 to him. The cheque was deposited into Bank on the same day. (ii) Purchased machinery for ₹1,00,000, payment made by cheque. Installation … Read more
36. Journalise the following in the books of Som Nath & Sons: 2023 May 1 Purchased a Machinery for ₹1,00,000 and the payment was made by issuing a cheque from Proprietor’s saving bank account. 4 Received an order from Chakravarti for goods of ₹4,00,000 alongwith a cheque of 10% of the order as advance. 8 … Read more
35. Journalise the following transactions: (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 goods 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 (iii) Cash withdrawn from bank ₹5,000 for personal use and ₹25,000 for office use. … Read more
34. Journalise the following transactions : Purchased a Motor Car for ₹3,00,000 and paid ₹25,000 for its repair and renewal. Entire payment is made by cheque. Received Rent ₹5,000. Goods worth ₹20,000 were distributed as free samples. Charge depreciation on Motor Car ₹32,500. Rent due to Landlord ₹10,000 and Salary due to Clerks ₹80,000. Charge … Read more
33. Journalise the following transactions 2023 ₹ March 1 Started business with cash 50,000 2 Purchased Machinery for cash 20,000 Paid installation charges on machinery 2,000 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. 10 Sold goods to Y … Read more
32. Journalise the following transactions ₹ 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 ₹50,000 at 20% Trade Discount. Half the payment was made in cash. 5. Issued cheque to Ashok & … Read more
31. Journalise the following transactions : (a) Goods destroyed by Fire for ₹5,000. (b) Paid by cheque ₹25,000 as wages on installation of a Machinery. (c) Issued a cheque in favour of M/s Parmatma Saran & Sons on account of purchase of goods ₹75,000. (d) Goods sold costing ₹60,000 to M/s Kalu Sons at an … Read more
30. Rectify the following entries assuming that the narration in each case is Correct: Date Particulars L.F. AmountDebit (₹) AmountCredit (₹) May 4 Building A/c Dr. 5,00,000 Brokerage A/c Dr. 10,000 To Bank A/c 5,10,000 (Purchase of building and payment of brokerage on its purchase) May 10 Drawings A/c Dr. 12,000 To Sales A/c 12,000 … Read more
29. Give the journal entries corresponding to the narration given below: S No. Particulars L.F. AmountDebit (₹) AmountCredit (₹) (i) Dr. Dr. To (Goods of the list price of ₹5,000 sold at 10% trade discount and 2% cash discount) (ii) (The purchase of Motor Car for ₹80,000 and the payment of ₹5,000 as repair charges … Read more
28. Journalise the following transactions : 2023 April 1 Purchased goods for ₹1,00,000 from Manoj and availed discount of ₹10,000. 2 Paid amount due to Manoj by cheque and availed discount of ₹4,500. 5 Cash ₹5,000 paid to Desai and discount allowed by him ₹200. 10 Cash ₹10,000 received from Govardhan and allowed him discount … Read more