Question No 25 Chapter No 5

25.Journalise the following:

 1 Purchased goods for 25,000 for Cash and paid 200 for carriage on these goods. 2 Purchased goods for 40,000 on Credit from Sudhir and paid 500 for carriage on these goods. 3 Received an order of goods for Rs 50,000 from Gopal 4 Purchased machinery for 20,000 and spent 500 on its carriage and 300 on its installation. 5 Purchased goods from Anil for 15,000. 6 Sold 1/3 rd of the above goods at a profit of 20% on cost. 7 Gopal’s order was executed and cartage Rs 2,000 was paid in this connection 8 Goods costing 12,000 sold to Mr. X, issued invoice at 25% above cost less 10% trade discount 9 Provide 20% depreciation on furniture costing 10,000. 10 Gave as charity − Cash 500 and Goods 2,000.

## The solution of Question No 25 Chapter No 5: –

 In the Books of Radhika Traders Date Particulars L.F. Debit Credit 2019 1 Purchases A/c Dr. 25,000 Carriage A/c Dr. 200 To Cash A/c 25,200 (Being Purchased goods for cash and carriage paid) 2 Purchases A/c Dr. 40,000 To Sudhir’s A/c 40,000 (Being Goods purchased on credit from Sudhir ) Carriage A/c Dr. 500 To Cash A/c 500 (Being Carriage paid on goods purchased from Sudhir) 4 Machinery A/c Dr. 20,800 To Cash A/c 20,800 (Being Machinery purchased and expenses paid) 5 Purchases A/c Dr. 15,000 To Anil’s A/c 15,000 (Being Purchased goods on credit from Anil ) 6 Cash A/c Dr. 6,000 To Sales A/c 6,000 (Being Goods purchased from Anil sold for cash at a profit of 20) 7 Gopal A/c Dr. 52,000 To Sale A/c 50,000 To Cartage A/c 2,000 (Being goods sold to Gopal and paid cartage) 8 X’s A/c * Dr. 13,500 To Sales A/c 13,500 (Being Goods sold to X ) 9 Depreciation A/c Dr. 2,000 To Furniture A/c 2,000 (Being Depreciation charged on furniture) 10. Charity A/c Dr. 2,500 To Cash A/c 500 To Purchases A/c 2,000 (Being Depreciation charged on furniture)

Working Note: –

Calculation of amount of goods sold to X *

 Cost = 12,000 Add: Profit @25% on Rs 12,000 = 3,000 Invoice Price = 15,000 Less: Trade discount 10% of Rs 15,000 = 1,500 = 13,500

Financial Accounting – Introduction and its Functions

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## D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution

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)