Question

Sold goods purchased at price of ₹ 50000 less 15% trade discount sold at a profit of 25% less 10% trade discount against cheque.
Journalise the transactions.

Answer 1

Answer:

52 594

Explanation:

Journal entry -

Bank a/c Dr. - 52594

To Sales a/c - 52594

Working notes -

Cost price of goods = 50,000 x 85/100 = 42,500.

Selling price of goods = 42,500 x 125/100 = 53,125.

Trade discount = 10/100 x 53,125 = 531

Trade discount is not shown in books.

Net selling price = 53,125 - 531 = 52,594.

Hope u will get it friend!

Answer 2

COST PRICE of GOODS = 50000*85/100=42500

SELLING PRICE of GOODS=42500*125/100=53125

Tradediscount=10/100*53125=531

Trade discount is not shown in books

Net selling price=53125-531=52594