Question

Ulvenen LULU
Q.32. Journalise the following transactions:-
(a) Goods destroyed by Fire for *5,000.
(b) Paid *25,000 in cahs as wages on installation of a Machinery.
(c) Issued a cheque in favour of M/s Parmatma Saran & Sons on account of purchase of
goods *75,000.
(d) Goods sold costing 60,000 to M/s Kalu Sons at an invoice price 10% above cost less
5% Trade discount.​

Answer 1

Answer:

a) goods destroyed by fire a/c. Dr 5000

To purchase a/c. 5000

b) Machinery. a/c. Dr25000

To cash a/c. 25000

Explanation:

installation charges are included in the cost of machine

c)purchase. a/c. Dr75000

To bank a/c. 75000

d)M/s. Kalu Sons. a/c. Dr62700

To sales a/c. 62700