# Question No 16 Chapter No 5 – USHA Publication 11 Class

Q-16 - CH-5 - USHA +1 Book 2020 - Solution

Question No 16 Chapter No 5

16. Enter the following transaction in the books of Mulayam Singh:

 2018 Mar. 1 Received Rs 1,900 from Mayawati and allowed Rs 100 Mar. 2 Paid Rs 2,400 to Mishra and availed a discount of Rs 100 Mar. 8 Received Rs 3,950 from Amar Singh in full settlement of his account of Rs 4,000 Mar. 9 Paid Rs 4,390 to Akhilesh by cheque in full settlement of Rs 4,500 Mar. 15 Suresh Yadav, who owed Rs 5,000, paid the amount by bank draft in full settlement of his account, by availing 3% cash discount Mar. 16 Dalip Yadav to whom Rs 6,000 was payable, his account settled by receiving a discount of 1.5% Mar.23 Paid Rs 2,400 by cheque to Ravi, availing a discount of 4% Mar.24 Received Rs 6,860 from Santosh, allowing her 2% cash discount

### The solution of Question No 16 Chapter No 5: –

Working note: –

 Cash Discount = List price after Trade Discount * Rate of Cash Discount = 5,000 X 3% = 150/-

 Cash Discount = List price after Trade Discount * Rate of Cash Discount = 6,000 X 1.5% = 90/-

Mar.23: Paid Rs 2,400 by cheque to Ravi, availing a discount of 4%

 Discount = Amount Received / Paid X Rate 100- Rate
 = 2,400 X 4 100- 4
 = 2,400 X 4 96 = 100

Mar.24: Received Rs 6,860 from Santosh, allowing her 2% cash Discount

 Discount = Amount Received / Paid X Rate 100- Rate
 = 6,860 X 2 100- 2
 = 6,860 X 2 98 = 140

How to make Journal Entries in Accounting – Explanation

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## Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting

Chapter No. 3 – Origin of Transactions

Chapter No. 4 – Vouchers and transactions

Chapter No. 5 – Journal

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

Chapter No. 7 – Ledger

Chapter No. 8 – Cash Book

Chapter No. 9 – Other Subsidiary Books

Chapter No. 10 – Journal Proper

Chapter No. 11 – Trial Balance

Chapter No. 12 – Bank Reconciliation Statement

Chapter No. 13 – Depreciation

Chapter No. 14 – Provisions and Reserves

Chapter No. 15 – Bills of Exchange

Chapter No. 16 – Rectification of Errors

Chapter No. 17 – Financial Statements – (Without Adjustments)

Chapter No. 18 – Financial Statements – (With Adjustments)

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