Question No 03 Chapter No 5 - USHA Publication 11 Class

Question No 03 Chapter No 5 – USHA Publication 11 Class

By Shubham Sharma 3 Min Read December 4, 2021 47 Views

Q-03 - CH-5 - USHA +1 Book 2020 - Solution

Question No 03 Chapter No 5

Table of Contents

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: –

Transaction	Debited A/c	Credited A/c
(i) Bought goods for cash	Purchased A/c	Cash A/c
(ii) Cash sales	Cash A/c	Sales A/c
(iii) Cash deposited into a bank	Bank A/c	Cash A/c
(iv) Paid charity expenses	Charity A/c	Cash A/c
(v) Purchased Furniture.	Furniture A/c	Cash A/c
(vi) Goods sold to ram on credit.	Ram A/c	Sales A/c
(vii) Cash received from ram.	Cash A/c	Ram A/c
(viii) Received interest on bank deposits	Cash A/c	Interest A/c
(ix) Paid salaries.	Salaries A/c	Cash A/c
(x) Bought goods from Sahil.	Purchased A/c	Sahil A/c

How to make Journal Entries in Accounting – Explanation

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

Chapter No. 3 – Origin of Transactions

Chapter No. 6 – Accounting for Goods and Services Tax(GST)

Chapter No. 14 – Provisions and Reserves