Question No 19 Chapter No 5

Question No 19 Chapter No 5

19.Pass Journal entries for the following transactions:−

1Sold goods to Brijesh of the list price of 10,000 at a trade discount of 5%. Received full payment in cash.
2Goods are given away as charity 1,000.
3Charge interest on capital of 5,00,000 @ 7% p.a. 
4Outstanding wages 3,000.
55,000 due from Sunny are now bad debts
650,000 cash sales of goods costing 40, 000

 

The solution of Question No 19 Chapter No 5: –

In the Books of Radhika Traders
DateParticulars
L.F.DebitCredit
2019     
1Cash A/cDr. 9,500 
 To Sales A/c   9,500
 (Being Machinery purchased and paid for carriage)   
     
2Charity A/cDr. 1,000 
 To Purchases A/c   1,000
 (Being Goods given away as a charity)   
      
3Interest on Capital A/cDr. 35,000 
 To Capital A/c  35,000
 (Being Interest in capital provided)   
     
4Wages A/cDr. 3,000 
 To Outstanding Wages A/c  3,000
 (Being Outstanding wages provided)   
     
5Bad Debts A/cDr. 5,000 
 To Sunny’s A/c   5,000
 (Being Bad debts written −off)    
      
6Cash A/cDr. 50,000 
 To Sales A/c   50,000
 To Sales A/c    
     

 

 

 

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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