Question

Q. 21. Journalise the following transactions :-
(1) Sold goods to Brijesh of the list price of 10,000 at trade discount of 5%. Receita
full
payment in cash.
(ii) Goods given away as charity 31,000.
(iii) Charge interest on capital of 75,00,000 @ 7% p.a.
(iv) Outstanding wages 33,000.
(v) 35,000 due from Sunny are now bad debts.
(vi) 350,000 cash sales (of goods costing 340,000).​

Answer 1

Answer:

21. Journalise the following transactions :-

(1) Sold goods to Brijesh of the list price of 10,000 at trade discount of 5%. Receita

full

payment in cash.

(ii) Goods given away as charity 31,000.

(iii) Charge interest on capital of 75,00,000 @ 7% p.a.

(iv) Outstanding wages 33,000.

(v) 35,000 due from Sunny are now bad debts.

(vi) 350,000 cash sales (of goods costing 34

Answer 2

Answer:

The answer is in the explanation section.

Explanation:

1) Cash A/c Dr.       9500

        To Sales A/c  9500

2) Charity A/c Dr.                                             31000

        To goods distributed for charity A/c    31000

3) Interest on capital A/c  Dr.           525000

         To Capital A/c                           525000

4) Wages A/c Dr.                                33000

         To outstanding wages A/c      33000

5) Bad debts A/c  Dr.         35000

          To Sunny A/c            35000

6) Cash A/c Dr.         350000

          To Sales A/c  350000

Note: We will not show profit on sale in the last transaction as there are millions of transactions in a year and the net profit or loss is calculated at the end of the year through profit and loss account.

Hope this answer helps:). Please make mine the brainliest answer.