Question

Purchased goods of list price of 20.000 from Vishal at 20% trade discount agite
the following transactions in the books of M/s. RK & Co.:
(13) Hinchase goods of list price of 20.000 from Naman at 15% trade discount against
cheque payment
w Purchased goods of list price of 30,000 from Amrit at 20% trade digcount,
Qo) Purchased goods from Hari & Co of list price 40,000 for 2 35,000 against cash.
(6) Goods purchased from Amrit of list price? 10,000 returned
(6) Sold goods to Parul of list price of P 40.000 at 10% trade discount against cheque paymen
() Sold goods to Aman of list price of 30,000 at 10% trade discount against cash.
ut) Sold goods to Pawan of list price of P 20,000 at 10% trade discount
(2x) Sold goods to Yamini of list price of 25,000 for 23,000
(1) Sold goods costing 10,000 at cost plus 20% less 10% trade discount to Bhupesh.
(1) Sold goods purchased at list price of 50,000 sold at a profit of 25% less 10"
discount against cheque
xil) Aman returned goods of list price of 10,000 sold to him at 10% trade
de
ournalise77 the followinntunan​

Answer 1

Explanation:

i) Purchases A/c     Dr. Rs.16,000

          To Bank A/c         Rs.16,000

(Being goods purchased from Vishal with 20% Trade discount via cheque)

ii) Purchases A/c   Dr. Rs.17,000

        To Cash A/c           Rs.17,000

(Being goods purchased from Naman with 15% Trade discount via cash)

iii) Purchases A/c   Dr. Rs.24,000

          To Amrit A/c         Rs.24,000

(Being goods purchased from Amrit on credit with 20% Trade discount)

iv) Purchases A/c    Dr. Rs.40,000

          To Discount Received A/c Rs.5,000

          To Cash A/c                         Rs.35,000

(Being goods purchased via cash and discount received)

v) Amrit A/c          Dr. Rs.10,000

         To Purchase Returns A/c   Rs.10,000

(Being goods returned to Amrit)

vi) Bank A/c   Dr. Rs.36,000

           To Sales A/c     Rs.36,000

(Being goods sold to Parul @ 10% trade discount via cheque)

vii) Cash A/c   Dr. Rs.27,000

         To Aman A/c    Rs.27,000

(Being goods sold to Aman @10% trade discount)

viii) Pawan A/c  Dr. Rs.18,000

         To Sales A/c      Rs.18,000

(Being goods sold to Pawan on credit)

ix) Yamini A/c   Dr. Rs.23,000

 Discount Allowed A/c Dr. Rs.2,000

              To Sales A/c                       Rs.25,000

(Being goods sold to Yamini on credit and discount allowed)

x) Bhupesh A/c    Dr. Rs.10,800

       To Sales A/c          Rs.10,800

(Being goods sold to Bhupesh at cost plus 20% and trade discount@10% on credit)

xi) Bank A/c     Dr. Rs.47812.5

        To Sales A/c       Rs.47812.5

(Being goods sold via bank at cost plus 25% and trade discount@10%)

xii) Sales Returns A/c   Dr. Rs.10,000

          To Aman A/c                 Rs.10,000

(Being goods returned by Aman and recorded at cost)

hope this may help u......