Question No 30 Chapter No 5

Question No 30 Chapter No 5

30. Journalise the following transaction:-

  Rs
1Charge depreciation on Machinery20,000
2Salary due to office Clerks1,00,000
3Received cash for Bad- debts written off last year5,000
4Purchased goods from Ashok & Co. for Rs 50,000 at 20% Trade discount. Half the payment was made in cash  
5Issued cheque to Ashok & Co. in full settlement19,500
6Paid life insurance Premium by cheque6,000
7Proprietor used goods for household purpose20,000
8Goods given free to a hospital out of business10,000

 

The solution of Question No 30 Chapter No 5: –

In the Books of Radhika Traders
DateParticulars
L.F.DebitCredit
2019     
1Depreciation A/cDr. 20,000 
 To Machinery A/c   20,000
 (Being Depreciation charged on machinery)   
     
2Salary A/cDr. 1,00,000 
 To Outstanding Salary A/c   1,00,000
 (Being Salary due to office clerks)   
      
3Cash A/cDr. 5,000 
 To Bad Debts Recovered A/c  5,000
 (Being Bad debts recovered)   
     
4Purchases A/cDr. 40,000 
 To Ashok & Co   20,000
 To Cash A/c   20,000
 (Being goods purchased)    
      
5Ashok & Co.Dr. 20,000 
 To Bank A/c   19,500
 To Discount Received A/c   500
 (Being Payment made to Ashok & Co. in full settlement)    
      
6Drawings A/cDr. 6,000 
 To Cash A/c   6,000
 (Being Payment made for life insurance premium)    
      
7Drawings A/cDr. 20,000 
 To Purchases A/c   20,000
 (Being Goods used for household purposes)    
      
8.Charity A/cDr. 10,000 
 To Purchases A/c   10,000
 (Being Goods given away as a charity)    
     

 

How to make Journal Entries in Accounting – Explanation

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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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