Question No 29 Chapter No 5

Question No 29 Chapter No 5

29. Give the journal entries assuming that the narration in each case is correct:

DateParticular LF.Amount(Dr.)Amount(Cr.)
2020     
Mar.1Bricks A/cDr. 2,00,000 
 Timber A/cDr. 1,20,000 
 To cash   3,20,000
 ( Bricks for Rs 2,00,000 and Timber for Rs 1,20,000 purchased for the construction of building and the payment is made by cheque)    
Mar.5Z A/cDr. 32,000 
 Discount A/cDr. 8,000 
 To Sale A/c   40,000
 (goods costing Rs 30,000 sold to Z at 33 1/3 % profit on cost less 20% trade discount)    
Mar.13Furniture A/cDr. 500 
 To cash A/c   500
 (payment of repair charges of office furniture)    
Mar.16General Expenses A/cDr. 3,000 
 To Sale A/c   3,000
 (Goods costing Rs 3,000 given away as charity)    
Mar.22Cash A/cDr. 6,000 
 To Ghanshyam A/c   6,000
 (Amount received from Ghanshyam, which were written off as bad debts last year)    
Mar.27Income-Tax A/cDr. 4,000 
 To Bank A/c   4,000
 (Payment of Income-tax by cheque)    
Mar.31Cash A/cDr. 300 
 To Interest Received A/c   300
 (Interest allowed  by bank)    

 

 

The Content covered in this article:

The solution of Question No 29 Chapter No 5: –

In the Books of Radhika Traders
DateParticulars
L.F.DebitCredit
2019     
Mar.1Building A/cDr. 3,20,000 
 To Bank A/c   3,20,000
 (Being Bricks for Rs 2,00,000 and Timber for Rs 1,20,000 purchased for the construction of building and the payment is made by cheque)   
     
Mar.5Z A/cDr. 32,000 
 To Sale A/c   32,000
 (Being goods costing Rs 30,000 sold to Z at 33 1/3 % profit on cost less 20% trade discount)   
      
Mar.13Repair A/cDr. 500 
 To Cash A/c  500
 (Being payment of repair charges of office furniture)   
     
Mar.16Charity A/cDr. 3,000 
 To Purchases A/c   3,000
 (Being Goods costing Rs 3,000 given away as a charity)    
      
Mar.22Cash A/cDr. 6,000 
 To Bad debts Recovered A/c   6,000
 (Being Amount received from Ghanshyam, which were written off as bad debts last year)    
      
Mar.27Drawing A/cDr. 1,00,000 
 To Bank A/c   1,00,000
 (Being Payment of Income-tax by cheque)    
      
Mar.31Bank A/cDr. 300 
 To Interest Received A/c   300
 (Being Interest allowed by bank)    
     

 

 

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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