CA FOUND
UNTANCY
J.K. SHAH
LA S S ES
2.5
Voltas Ltd. sends out its Air conditioners costing 320,000 each to their
customers on Sales or Return basis. All such transactions are, however, treated
like actual sales and are passed through the Day Book. Just before the end of
the financial year, i.e., on March 24, 2016, 300 such Air conditioners were sent
out at an invoice price of 28,000 each, out of which only 90 Air conditioners
are accepted by the customers @ 25,000 each and as to the rest no report
is forthcoming. Show the Journal Entries in the books of the company for the
purpose of preparing Final Accounts for the year ended March 31, 2016.
(15)
Answers
Answer:
Dewali. is a festival of lights and one of the major festivals celebrated by Hindus, Jains and Sikhs. The festival usually lasts five days and is celebrated during the Hindu lunisolar month Kartika (between mid-October and mid-November).One of the most popular festivals of Hinduism, Diwali symbolizes the spiritual "victory of light over darkness, good over evil, and knowledge over ignorance".[11][12][13][14] The festival is widely associated with Lakshmi, goddess of prosperity, with many other regional traditions connecting the holiday to Sita and Rama, Vishnu, Krishna, Yama, Yami, Durga, Kali, Hanuman, Ganesha, Kubera, Dhanvantari, or Vishvakarman. Furthermore, it is, in some regions, a celebration of the day Lord Rama returned to his kingdom Ayodhya with his wife Sita and his brother Lakshmana after defeating Ravana in Lanka and serving 14 years of exile.