Question 40 Chapter 4 - Unimax Publications of Class 11

Question 40 Chapter 4 – Unimax

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The solution of Question 40 Chapter 4 – Unimax:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

40. Pass Journal entries:
(a) Goods purchased for Rs. 12,000, cartage on purchases Rs. 350.
(b) Goods sold for cash Rs. 9600, Sales commission paid Rs. 420.
(c)Machinery is purchased for Rs. 60,000, transportation expenses paid Rs. 2,500 in this connection.
(d) Machinery is purchased for Rs. 60,000 and installation expenses Rs. 2,500 incurred on this Machinery.
(e)The old furniture of value Rs. 1600 is exchanged for new furniture of value Rs. 2,500, balance paid in cash.

The solution of Question 40 Chapter 4 – Unimax:

JOURNAL

Date	Particulars		L.F.	Debit	Credit
2021
(a)	Purchases A/c	Dr.		12,000
	Cartage A/c	Dr.		350
	To Cash A/c				12,350
	(Being goods purchased and cartage paid in cash)

(b)	Cash A/c	Dr.		9,600
	To Sales A/c				9,600
	(Being goods sold for cash)

	Commission A/c	Dr.		420
	To Cash A/c				420
	(Being commission paid in cash)

(c)	Machinery A/c	Dr.		62,500
	To Cash A/c				62,500
	(Being machinery purchased and transportation expenses also paid)

(d)	Machinery A/c	Dr.		62,500
	To Cash A/c				62,500
	(Being machinery and installation expenses paid)

(e)	Furniture A/c (New)	Dr.		2,500
	To Cash A/c				900
	To Furniture A/c				1,600
	(Being furniture purchased for cash)
	Grand Total			1,51,470	1,51,470

This is all about the Question 40 Chapter 4 – Unimax. You can check out the following article to better understand:

Opening Journal Entry – its Rules and Examples

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Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Part-I

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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 40 Chapter 4 – Unimax Publications of Class 11

The solution of Question 40 Chapter 4 – Unimax:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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