Question 42 Chapter 4 - Unimax Publications of Class 11

Question 42 Chapter 4 – Unimax

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The solution of Question 42 Chapter 4 – Unimax:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

42. Journalise
(a) Sold goods to X list price Rs. 4000, trade discount 10% and cash discount 5%. He paid the amount on the same day and availed cash discount.
(b) Supplied goods costing Rs. 6,000 to Y, issued invoice at 10% above cost less 5% trade discount.
(c) Z withdrew goods for the marriage of his daughter, selling price of which was Rs. 1800 (20
added to the cost for fixing the selling price.)
(d) Purchased goods of list price of Rs. 4,000 From A at a trade discount of 10% and cash discount 4 % and half the amount paid in cash.

The solution of Question 42 Chapter 4 – Unimax:

JOURNAL

Date	Particulars		L.F.	Debit	Credit

(a)	Cash A/c	Dr.		3,420
	Discount A/c	Dr.		180
	To Sales A/c				3,600
	(Being goods sold for cash and discount allowed)

(b)	Y’s A/c	Dr.		6,270
	To Sales A/c				6,270
	(Being goods sold at 5% trade discount) ( 6,600- 330)

(c)	Drawings A/c	Dr.		1,500
	To Purchases A/c				1,500
	(Being goods withdrawn for personal use)

(d)	Purchases A/c	Dr.		3,600
	To Cash A/c				1,728
	To Discount A/c				72
	To A’s A/c				1,800
	(Being goods purchased from A and half amount paid in Cash receiving 4% cash discount)

This is all about the Question 42 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 42 Chapter 4 – Unimax Publications of Class 11

The solution of Question 42 Chapter 4 – Unimax:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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