Question No 32 Chapter No 5
Return Of goods
32. Journalise the following transactions in the book of Laxman:
| 2020 | |
| Mar. 1 | Goods worth Rs 6,000 sold to Sehwag at trade discount of 5% |
| Mar. 2 | Sehwag returned one-third of the goods |
| Mar. 7 | Purchased goods worth Rs 8,000 from R.P Singh at a trade discount of 4% |
| Mar. 8 | Returned one-fourth of the goods to R.P. Singh |
| Mar. 11 | Purchased goods worth Rs 10,000 from Irfan at a trade discount of 5% and Sold the same to Dravid for Rs 15,000 |
| Mar. 12 | Dravid refined one-fifth of the goods, which in turn, in turn, returned to Irfan |
The solution of Question No 32 Chapter No 5: –
| In the Books of Laxman | |||||
| Date | Particulars |
L.F. | Debit | Credit | |
| 2020 | |||||
| Mar.1 | Sehwag A/c | Dr. | 5,400 | ||
| To Sale A/c | 5,400 | ||||
| (Being sold goods to Sehwag at the trade discount of 10%.) | |||||
| Mar.2 | Sale return A/c | Dr. | 1,800 | ||
| To Sehwag A/c | 1,800 | ||||
| (Being Sehwag return goods .) | |||||
| Mar.7 | Purchases A/c | Dr. | 7,840 | ||
| To R.P. Singh A/c | 7,840 | ||||
| (Being purchases goods from R.P. Singh ) | |||||
| Mar.8 | R.P. Singh A/c | Dr. | 1,960 | ||
| To Purchases return A/c | 1,960 | ||||
| (Being purchases goods from R.P. Singh ) | |||||
| Mar.11 | Purchases A/c | Dr. | 9,500 | ||
| To Irfan A/c | 9,500 | ||||
| (Being goods bought from Irfan) | |||||
| Mar.11 | Sale return A/c | Dr. | 3,000 | ||
| To Dravid A/c | 3,000 | ||||
| (Being goods return by Dravid ) | |||||
| Mar.12 | Irfan A/c | Dr. | 3,000 | ||
| To Purchases return A/c | 3,000 | ||||
| (Being goods return to Irfan ) | |||||
How to make Journal Entries in Accounting – Explanation
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Also, Check out the solved question of all Chapters: –
Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution
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
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Chapter No. 10 – Journal Proper
Chapter No. 11 – Trial Balance
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)
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