Question No 02 Chapter No 5

Question No 02 Chapter No 5

Q.2 Enter the following transaction in the Journal of Sahil Bros:

2018 Rs
Oct-01Purchased goods from Anil for Cash40,000
Oct-03Purchased goods from Atul75,000
Oct-06Returned goods to Atul3,000
Oct-08Paid cash to Atul50,000
Oct-10Sold goods to Charu1,00,0000
Oct-12Charu returned 20% of goods 
Oct-15Paid rent2,000
Oct-20Sahil withdrew for personal use10,000

 

The solution of Question No 02 Chapter No 5: –

In the Books of S.S. Ray
DateParticulars
L.F.DebitCredit
2019     
Oct.1Purchases A/cDr. 40,000 
 To Cash A/c   40,000
 (Being Goods purchased from Anil for cash.)   
     
Oct.3Purchases A/cDr. 75,000 
 To Atul’s A/c   75,000
 (Being Goods purchased from Atul)   
      
Oct.6Atul’s A/cDr. 3,000 
 To Purchases Return A/c  3,000
 (Being Goods returned to Atul)   
     
Oct.8Atul’s A/cDr. 50,000 
 To Cash A/c  50,000
 (Being Cash paid to Atul.)   
     
Oct.10Charu’s A/cDr. 1,00,000 
 To Sales A/c  1,00,000
 (Being Goods sold to Charu.)   
     
Oct.12Sales Return A/cDr. 20,000 
 To Charu’s A/c  20,000
 (Being goods returned to Charu)   
     
Oct.15Rent A/cDr. 2,000 
 To Cash A/c  2,000
 (Being Rent paid.)   
     
Oct.20Drawings A/cDr. 10,000 
 To Cash A/c  10,000
 (Being Cash withdrawn for personal use .)   
     

 

Financial Accounting – Introduction and its Functions

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Also, Check out the solved question of all Chapters: –

 

D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution

Chapter 1 Evolution of Accounting & Basic Accounting Terms

Chapter 2 Accounting Equations

Chapter 3 Meaning and Objectives of Accounting

Chapter 4 Double Entry System

Chapter 5 Books of Original Entry – Journal 

Chapter 6 Accounting for Goods and Service Tax (GST) (Coming soon)

Chapter 7 Books of Original Entry – Cash Book (Coming soon)

Chapter 8 Books of Original Entry – Special Purpose Subsidiary Books (Coming soon)

Chapter 9 Ledger (Coming soon)

Chapter 10 Trial Balance and Errors (Coming soon)

Chapter 11 Bank Reconciliation Statement (Coming soon)

Chapter 12 Depreciation (Coming soon)

Chapter 13 Bills of Exchange (Coming soon)

Chapter 14 Generally Accepted Accounting Principles(GAAP) 

Chapter 15 Bases of Accounting

Chapter 16 Accounting Standards and International Financial Reporting Standard(IFRS) (Coming soon)

Chapter 17 Capital and Revenue 

Chapter 18 Provisions and Reserves 

Chapter 19 Final Accounts (Coming soon)

Chapter 20 Final Accounts – With Adjustments (Coming soon)

Chapter 21 Errors and their Rectification (Coming soon)

Chapter 22 Accounts from Incomplete Records – Single Entry System (Coming soon)

Chapter 23 Accounts of Not-for-Profit Organisations (Coming soon)

Chapter 24 Computerised Accounting System (Coming soon)

Chapter 25 Introduction to Accounting Information System (Coming soon)

 

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