Question No 03 Chapter No 5
3. From the following transaction of S.K. Trading Co., find out the accounts to be debited or credited by American Approach:
| (i) | Bought goods for cash Rs 10,000 |
| (ii) | Cash Sale Rs 5,000 |
| (iii) | Cash deposited into bank Rs 4,500 |
| (iv) | Paid charity expresses Rs 100 |
| (v) | Purchased furniture wroth Rs 2,000 |
| (vi) | Goods sale to Ram for Rs 1,000 on credit. |
| (vii) | Cash received from Ram Rs 500 |
| (viii) | Received interest on bank deposit Rs 500 |
| (ix) | Paid salaries Rs 2,000 |
| (x) | Bought goods from Sahil Wroth Rs 8,000 |
The solution of Question No 03 Chapter No 5: –
| (i) Bought goods for cash: Purchased A/c (Debited); Cash A/c (credited) |
| (ii) Cash sale: Cash A/c (Debited); Sales A/c (Credited) |
| (iii) Cash deposited into a bank: Bank A/c (Debited); Cash A/c (Credited) |
| (iv) Paid charity expenses: Charity A/c (Debited); Cash A/c (Credited) |
| (v) Purchased Furniture: Furniture A/c (Debited); Cash A/c (Credited) |
| (vi) Goods sold to ram on credit: Furniture A/c (Debited); Cash A/c (Credited) |
| (vii) Cash received from ram: Cash A/c (Debited); Ram A/c (Credited) |
| (viii) Received interest on bank deposited: Cash A/c (Debited); Interest A/c (Credited) |
| (ix) Paid salaries: Salaries A/c (Debited); Cash A/c (Credited) |
| (x) Bought goods from Sahil: Purchased A/c (Debited); Sahil A/c (Credited) |
How to make Journal Entries in Accounting – Explanation
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Also, Check out the solved question of all Chapters: –
Chapter No. 2 – Theory Base of Accounting
Chapter No. 3 – Vouchers and transactions
Chapter No. 4 – Journal
Chapter No. 5 – Ledger
Chapter No. 6 – Cash Book
Chapter No. 7 – Other Subsidiary Books
Chapter No. 8 – Journal Proper
Chapter No. 9 – Trial Balance
Chapter No. 10 – Bank Reconciliation Statement
Chapter No. 11 – Depreciation
Chapter No. 12 – Provisions and Reserves
Chapter No. 13 – Bills of Exchange
Chapter No. 14 – Rectification of Errors
Chapter No. 15 – Financial Statements – (Without Adjustments)
Chapter No. 16 – Financial Statements – (With Adjustments)