Question No 20 Chapter No 5
20. Journalese the following transaction in the book of Lal Krishan:
| 2018 | |
| Apr. 1 | Purchased goods for Rs 18,000, carriage on purchase Rs 100 |
| Apr. 2 | Purchased machinery for Rs 14,500, freight on purchase Rs 500 |
| Apr. 7 | Goods sold Rs 12,000, selling commission paid Rs 600 |
| Apr. 8 | Furniture costing Rs 15,000 sold for Rs 18,000, brokerage on sale Rs 1,000 |
| Apr. 9 | A business vehicle coating Rs 35,000 was sold for Rs 30,000, selling commission paid Rs 900 |
The solution of Question No 20 Chapter No 5: –
| In the Books of Lal Krishan | |||||
| Date | Particulars |
L.F. | Debit | Credit | |
| 2018 | |||||
| Apr.1 | Purchases A/c | Dr. | 8,000 | ||
| Carriage on purchases A/c | Dr. | 100 | |||
| To Cash A/c | 8,100 | ||||
| (Being goods bought for cash and carriage paid .) | |||||
| Apr.2 | Machinery A/c | Dr. | 15,000 | ||
| To Cash A/c | 15,000 | ||||
| (Being machinery purchased and freight paid on it .) | |||||
| Apr.7 | Cash A/c | Dr. | 11,400 | ||
| Commission A/c | Dr. | 600 | |||
| To Sale A/c | 12,000 | ||||
| (Being goods sold and paid commission) | |||||
| Apr.8 | Cash A/c | Dr. | 17,000 | ||
| To Furniture A/c | 15,000 | ||||
| To Profit on sale of furniture A/c | 2,000 | ||||
| (Being sale of furniture after paying brokerage of Rs 1,000.) | |||||
| Apr.9 | Cash A/c | Dr. | 29,100 | ||
| Loss on sale of vehicle A/c | Dr. | 5,900 | |||
| To Motor vehicle A/c | 35,000 | ||||
| (Being vehicle sold at loss and commission paid Rs 900.) | |||||
How to make Journal Entries in Accounting – Explanation
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Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution
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Chapter No. 2 – Theory Base of Accounting
Chapter No. 3 – Origin of Transactions
Chapter No. 4 – Vouchers and transactions
Chapter No. 6 – Accounting for Goods and Services Tax(GST)
Chapter No. 9 – Other Subsidiary Books
Chapter No. 10 – Journal Proper
Chapter No. 11 – Trial Balance
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Chapter No. 12 – Bank Reconciliation Statement
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)