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Question No 03 Chapter No 5 - USHA Publication 11 Class

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Question No 03 Chapter No 5

3. From the following transaction of S.K. Trading Co., find out the accounts to be debited or credited by American Approach:

(i)	Bought goods for cash Rs 10,000
(ii)	Cash Sale Rs 5,000
(iii)	Cash deposited into bank Rs 4,500
(iv)	Paid charity expresses Rs 100
(v)	Purchased furniture wroth Rs 2,000
(vi)	Goods sale to Ram for Rs 1,000 on credit.
(vii)	Cash received from Ram Rs 500
(viii)	Received interest on bank deposit Rs 500
(ix)	Paid salaries Rs 2,000
(x)	Bought goods from Sahil Wroth Rs 8,000

The solution of Question No 03 Chapter No 5: -

Transaction	Debited A/c	Credited A/c
(i) Bought goods for cash	Purchased A/c	Cash A/c
(ii) Cash sales	Cash A/c	Sales A/c
(iii) Cash deposited into a bank	Bank A/c	Cash A/c
(iv) Paid charity expenses	Charity A/c	Cash A/c
(v) Purchased Furniture.	Furniture A/c	Cash A/c
(vi) Goods sold to ram on credit.	Ram A/c	Sales A/c
(vii) Cash received from ram.	Cash A/c	Ram A/c
(viii) Received interest on bank deposits	Cash A/c	Interest A/c
(ix) Paid salaries.	Salaries A/c	Cash A/c
(x) Bought goods from Sahil.	Purchased A/c	Sahil A/c