Question

Q. 35. Journalise the following transactions :
( Bought goods from Arun for 32,00,000 at a trade discount of 15% and cash discount
of 2%. Paid 80% amount immediately.
(m) Purchased goods for 20,000 from X and supplied it to Y for 326,000.
(i) Cash withdrawn from bank 35,000 for personal use and 325,000 for office use.
(iv) Goods destroyed by fire : Cost Price 340,000.
(y) Provide 20% depreciation on machinery costing 350,000.
(vi) Out of insurance paid this year, 73,000 is related to next year.
(vii) Allow 75,000 as interest on capital and charge 31,000 as interest on drawings.
(viii) Sohan who owed us *25,000 was declared insolvent and a cheque of 40 paise in a?
is received from him in full settlement.
(it) Paid Income Tax 310,000 by cheque.
(x) Salary paid 80,000 and Salary Outstanding 20,000.​

Answer 1

Answer:

purchase a/c dr 170000 To arun a/c 33320 To cash a/c 133280 TO discount received 3400