journalise the following entries :-
1. goods costing₹500 given as charity.
2. sold goods to mayank of ₹ 10,00,000, payable 25% by cheque at the time of sale and balance after 30 days of sales.
3. recieved ₹975 from harikrishna in Settlement of his account of ₹1000.
4. recieved dividend of 60 paise in a rupee from the official receiver of rajan,who owed us ₹1000.
5. chargers intrest on drawing ₹1500.
6.sold goods to anil costing ₹40000 for cash at a profit of 25% on cost less 20% trade discount.
7. paid cartage of ₹100 for delivery of goods.
8. paid income tax ₹15000.
Answers
Explanation:
1 .charity @/c dr. 500
To purchase@/c cr 500
2.bank@/c dr. 250000
Mayank @/c dr 750000
To sales a/c cr 1000000
3.cash a/c dr 975
discount allowed a/c. dr 25
To hari krishna a/c. cr 1000
4. bank A/c Dr .60
To Rajana/c cr .60
5 . Interest a/c dr 1500
bank a/c cr 1500
6.cash. A/c dr 32000
trade discount a/c dr 8000
To sales @/c cr 40000
7. cash a/c dr 100
To cartage a/c cr 100
8.cash a/c dr 15000
To income tax a/c cr 15000
Answer:
1 Charity. Dr 500
To purchase a,/c. 500
2. Bank. Dr. 250000
Mayank. dr. 750000
To sales a/ c. ... . 1000000
3. Cash dr. 975
discount. dr. 25
To Harikishan. 1000
4. cash. dr. 600
Bad debt. dr. 400
To. Rajan. 1000
5. Drawing. dr. 1500
To ins. on drawing. 1500
6. Cash. dr. 40000
To sales. 40000
7. Carriage. dr. 100
To cash. 100
8. Drawing. dr. 15000
To cash. 15000