Question No 32 Chapter No 5 – USHA Publication 11 Class

Question No 32 Chapter No 5

Question No 32 Chapter No 5

Free Accounting book Solution - Class 11 and Class 12

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. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Origin of Transactions

Chapter No. 4 – Vouchers and transactions

Chapter No. 5 – Journal

Chapter No. 6 – Accounting for Goods and Services Tax(GST)

Chapter No. 7 – Ledger

Chapter No. 8 – Cash Book

Chapter No. 9 – Other Subsidiary Books

Chapter No. 10 – Journal Proper

Chapter No. 11 – Trial Balance

Chapter No. 12 – Bank Reconciliation Statement

Chapter No. 13 – Depreciation

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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