Question No 16 Chapter No 5

Question No 16 Chapter No 5

16. Journalise the following transactions of Raj Kumar Traders, timber merchants:-

1Purchased timber from Kuldeep Kumar, for cash 2,000 and credit 10,000.
2Paid to Kuldeep Kumar in full settlement of his account 9,950. 
3Paid rent in advance 10,000.
4Purchased machinery for 1,00,000 by cheque and carriage 2,000 and installation charges 1,000 paid in Cash. 
5Purchased goods for 50,000 from Govind and sold it to Manohar for 65,000.

 

The solution of Question No 16 Chapter No 5: –

In the Books of Radhika Traders
DateParticulars
L.F.DebitCredit
2019     
1Purchases A/cDr. 12,000 
 To Cash A/c   2,000
 To Kuldeep Kumar’s A/c   10,000
 (Being Goods purchased for cash and credit)   
     
2Kuldeep Kumar’s A/cDr. 10,000 
 To Cash A/c   9,950
 To Discount Received A/c   50
 (Being Cash paid to Kuldeep Kumar in full settlement)   
      
3Prepaid Rent A/cDr. 10,000 
 To Cash A/c  10,000
 (Being Rent paid in advance )   
     
4Machinery A/cDr. 1,03,000 
 To Bank A/c  1,00,000
 To Cash A/c  3,000
 (Being Machinery purchased and expenses paid)   
     
5Purchases A/cDr. 50,000 
 To Govind’s A/c   50,000
 (Being goods purchased from Govind)    
      
 Manohar Lal’s A/cDr. 65,000 
 To Sales A/c   65,000
 (Being Goods sold to Manohar Lal)    
     

 

 

 

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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