Question 32 Chapter 4 - Unimax Publications of Class 11

Question 32 Chapter 4 – Unimax

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The solution of Question 32 Chapter 4 – Unimax:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

32. Journalise the following entries
(i) Purchased goods for cash of the list price of Rs. 20,000 at 10% Trade discount and 5% cash discount.
(ii) Sold goods with list price Rs. 10,000, Trade discount 5% and cash discount 2%.
(iii) Received cash from Shilpa Rs. 3,850 and discount allowed Rs. 150
(iv) Issued cheque for Rs. 1600 in full settlement of X’s claim of Rs. 1680.
(v) Sold goods to Mansi of the list price Rs. 4,000, trade discount 9%

The solution of Question 32 Chapter 4 – Unimax:

JOURNAL

Date	Particulars		L.F.	Debit	Credit
2021
(i)	Purchases A/c	Dr.		18,000
	To Cash A/c				17,100
	To Discount received A/c				900
	(Being goods purchased & discount received)

(ii)	Customer’s A/c	Dr.		9,500
	To Sales A/c				9,500
	(Being sold goods to customers or debtors (credit sales))

(iii)	Cash A/c	Dr.		3,850
	Discount allowed A/c	Dr.		150
	To Shilpa’s A/c				4,000
	(Being cash received from Shilpa & discount allowed)

(iv)	X’s Claim A/c	Dr.		1,680
	To Bank A/c				1,600
	To Discount Received A/c				80
	(Being issued cheque in full settlement of X’s claim)

(v)	Mansi’s A/c	Dr.		3,640
	To Sales A/c				3,640
	(Being goods sold to Mansi)
	Grand Total			36,820	36,820

This is all about the Question 32 Chapter 4 – Unimax. You can check out the following article to better understand:

Opening Journal Entry – its Rules and Examples

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Opening Journal Entry – its Rules and Examples – In Hindi

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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

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 32 Chapter 4 – Unimax Publications of Class 11

The solution of Question 32 Chapter 4 – Unimax:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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