Question 16 Chapter 4 - Unimax Publications of Class 11

Question 16 Chapter 4 – Unimax

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The solution of Question 16 Chapter 4 – Unimax:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

16. Journalise the following transactions in the books of Rajesh:
2021
May 1 Goods costing Rs. 10,000 sold for Rs. 18,000
May 3 Furniture worth Rs. 19,000 sold for Rs. 28,000
May 5 Goods costing Rs. 19,000 sold to Savita for Rs. 18,000
May 7 Office equipment worth Rs. 39,000 sold for Rs. 30,000
May 9 Goods costing Rs. 8,000 sold for Rs. 12,000
May 11 Office equipment worth Rs. 9,000 sold for RS. 10,500
May 12 Goods costing Rs. 15,000 sold for Rs. 12,500 to Nikita
May 14 Furniture worth Rs. 19,000 sold for Rs. 15,000
May 17 Machinery worth Rs. 25,000 sold for Rs. 32,000
May 19 Expenses on sale of machinery Rs. 2,000
May 21 Goods costing Rs. 38,000 sold Rs. 40,000. Brokerage on sale 2,800
May 27 Office Almirah worth Rs. 38,000. Sold for Rs. 35,000. Selling Expenses Rs. 1000

The solution of Question 16 Chapter 4 – Unimax:

JOURNAL

Date	Particulars		L.F.	Debit	Credit
2021
May 1	Cash A/c	Dr.		18,000
	To Sales A/c				18,000
	(Being goods sold for Cash at a profit)

May 3	Cash A/c	Dr.		28,000
	To Furniture A/c				19,000
	To Profit on sale of Furniture A/c				9,000
	(Being Furniture sold for cash at a profit)

May 5	Savita A/c	Dr.		18,000
	To Sales A/c				18,000
	(Being goods sold on credit at loss)

May 7	Cash A/c	Dr.		30,000
	Loss on Sale of office equipment A/c	Dr.		9,000
	To Office Equipment A/c				39,000
	(Being assets sold for cash at a loss)

May 9	Cash A/c	Dr.		12,000
	To Sales A/c				12,000
	(Being goods sold for Cash)

May 11	Cash A/c	Dr.		10,500
	To Office Equipment A/c				9,000
	To Profit on Sale of Equipment A/c				1,500
	(Being office equipment sold at profit)

May 12	Nikita A/c	Dr.		12,500
	To Sales A/c				12,500
	(Being goods sold on credit)

May 14	Cash A/c	Dr.		15,000
	Loss on Sale of Furniture A/c	Dr.		4,000
	To Furniture A/c				19,000
	(Being furniture sold at a loss)

May 17	Cash A/c	Dr.		30,000
	To Machine A/c				25,000
	To Profit on sale of machine A/c				5,000
	(Being machinery sold at a profit and selling expenses Deducted from profit)

May 19	Cash A/c	Dr.		40,000
	To Sales A/c				40,000
	(Being goods sold for cash)

May 21	Brokerage A/c	Dr.		2,800
	To Cash A/c				2,800
	(Being brokerage paid in cash)

May 27	Cash A/c	Dr.		34,000
	Loss on Sale of Fixtures A/c	Dr.		4,000
	To Fixtures A/c				38,000
	(Being office almirah sold at a loss and selling expenses Included in loss)

This is all about the Question 16 Chapter 4 – Unimax. You can check out the following article to better understand:

Opening Journal Entry – its Rules and Examples

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You can also Check out the solved question of other Chapters: –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Part-I

Chapter No. 1 – Introduction of Accounting
Chapter No. 2 – Theory Base of Accounting
Chapter No. 3 – Vouchers and Transactions
Chapter No. 4 – Journal
Chapter No. 5 – Goods and Services Tax (GST) : An Introduction
Chapter No. 6 – Ledger
Chapter No. 7 – Special Purpose Book – Cash Book
Chapter No. 8 – Other Subsidiary Books
Chapter No. 9 – Trial Balance
Chapter No. 10 – Rectification of Errors
Chapter No. 11 – Depreciation
Chapter No. 12 – Provision and Reserves
Chapter No. 13 – Bank Reconlciliation Statement
Chapter No. 14 – Bills of Exchange

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Students may Choose only one part from the Part II and Part III

Part-II

Chapter No. 15 – Financial Statements (Without Adjustments)
Chapter No. 16 – Financial Statements (With Adjustments)
Chapter No. 17 – Accounts from Incomplete Records – Single Entry System

Part-III

Chapter No. 18 – Introduction to Compurters and Accounting information System
Chapter No. 19 – Computerised Accounting
Chapter No. 20 – Accounting Software : Tally
Chapter No. 21 – Data Base System
Chapter No. 22 – Concept of Entity and Relationship

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Question 16 Chapter 4 – Unimax Publications of Class 11

The solution of Question 16 Chapter 4 – Unimax:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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