Question 4 Chapter 5 – Unimax Publications of Class 11

Q4 - CH-5 Solution

Question 4 Chapter 5 – Unimax

Free Accounting book Solution - Class 11 and Class 12

4. Journalise the following transactions in the books of Harmeet Enterprises, Delhi:
(i) Purchased goods from Sarpreet & Co., Delhi of list price Rs.25,000 at 20% trade discount and 3% cash discount on value of goods. Paid CGST and SGST 6% each. Payment made immediately and availed cash discount.
(ii) Purchased goods from Kritika Agencies, Delhi of list price Rs.20,000 at 25% trade discount and 2% cash discount. Paid CGST and SGST@ 6% each. 50% of the payment was iimmediately.
(iii) Purchased goods from Angad & Sons, Delhi of list price Rs.50,000 at 20% trade discount and 3% cash discount. Paid CGST and SGST @ 6% each. 75% of the payment was made immediately by cheque.
(iv) Sold to Palak & Co., Chandigarh goods of list price Rs.40,000 at 15% trade discount and 3% cash discount on Value (Cost) of goods. Charged IGST@ 12%. Ramesh & Co. paid the full amount by cheque and availed cash discount.
(v) Sold to Ridhi & Co., Chennai goods costing Rs.10,000 at 25% profit, allowing 10%% trade discount and 2 ½ % cash discount. Charged IGST @ 12%. Rajat & Co. made 60% payment immediately.
(vi)Sold goods of list price Rs. 50,000 less 20% trade discount. Charged IGST @ 12%. Cash discount allowed@ 2% against cheque payment.

The solution of Question 4 Chapter 5 – Unimax:

JOURNAL

Date Particulars   L.F. Debit Credit
2020          
(i) Purchases A/c Dr.   20,000  
  Input CGST A/c Dr.   1,200  
  Input SGST A/c Dr.   1,200  
  To Cash/Bank A/c       21,800
  To Discount Received A/c       600
   (Being the purchases of goods and payment made against 3% cash discount)        
           
(ii) Purchases A/c Dr.   15,000  
  Input IGST A/c Dr.   900  
  Input SGST A/c Dr.   900  
  To Cash/Bank A/c       8,232
  To Kritika Agencies, Delhi A/c       8,400
  To Discount Received A/c       168
  (Being the purchases of goods, 50% payment made Immediately and availed 2% cash discount)        
           
(iii) Purchases A/c Dr.   40,000  
  Input IGST A/c Dr.   2,400  
  Input SGST A/c Dr.   2,400  
  To Bank A/c       32,592
  To Angad& Sons, Delhi A/c       11,200
  To Discount Received A/c       1,008
  (Being the goods purchased, 75% payment made by cheque And availed 3% cash discount)        
           
(iv) Bank A/c Dr.   37,060  
  Discount Allowed A/c Dr.   1,020  
  To Sales A/c       34,000
  To Output IGST A/c       4,080
  (Being the goods sold against cheque allowing 3% cash Discount)        
           
(v) Purchases A/c Dr.   43,904  
  Ridhi& Co., Chennai A/c Dr.      
  Discount Allowed A/c Dr.   896  
  To Sales A/c       40,000
  To Output IGST A/c       4,800
  (Being the goods sold costing 10,000 at 25% profit less 10% trade discount, allowed cash discount of 2% on 60%Payment)        
           
(vi) Bank A/c Dr.   43,904  
  Discount Allowed A/c Dr.   896  
  To Sales A/c       40,000
  To Output IGST A/c       4,800
  (Being the goods sold against cheque allowing 2% cash Discount)        

This is all about the Question 4 Chapter 5 – 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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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

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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