1.

Journalise the following transactions in the books of M/s. R.K. & Co.:(i) Purchased goods of list price of ₹ 20,000 from Vishal at 20% trade discount against cheque payment.(ii) Purchased goods of list price of ₹ 20,000 from Naman at 15% trade discount against cash.(iii) Purchased goods of list price of ₹ 30,000 from Amrit at 20% trade discount.(iv) Purchased goods of list price of ₹ 40,000 for ₹ 35,000 for cash.(v) Goods returned of list price ₹ 10,000 purchased from Amrit.(vi) Sold goods to Parul of list price of ₹ 40,000 at 10% trade discount against cheque payment.(vii) Sold goods to Aman of list price of ₹ 30,000 at 10% trade discount against cash.(viii) Sold goods to Pawan of list price of ₹ 20,000 at 10% trade discount.(ix) Sold goods to Yamini of list price of ₹ 25,000 for ₹ 23,000.(x) Sold goods costing ₹ 10,000 at cost plus 20% less 10% trade discount to Bhupesh.(xi) Sold goods purchased at list price of ₹ 50,000 less 15% trade discount sold at a profit of 25% less 10% trade discount against cheque.(xii) Aman returned goods of list price of ₹ 10,000 sold to him at 10% trade discount.

Answer» Journalise the following transactions in the books of M/s. R.K. & Co.:

(i) Purchased goods of list price of ₹ 20,000 from Vishal at 20% trade discount against cheque payment.

(ii) Purchased goods of list price of ₹ 20,000 from Naman at 15% trade discount against cash.

(iii) Purchased goods of list price of ₹ 30,000 from Amrit at 20% trade discount.

(iv) Purchased goods of list price of ₹ 40,000 for ₹ 35,000 for cash.

(v) Goods returned of list price ₹ 10,000 purchased from Amrit.

(vi) Sold goods to Parul of list price of ₹ 40,000 at 10% trade discount against cheque payment.

(vii) Sold goods to Aman of list price of ₹ 30,000 at 10% trade discount against cash.

(viii) Sold goods to Pawan of list price of ₹ 20,000 at 10% trade discount.

(ix) Sold goods to Yamini of list price of ₹ 25,000 for ₹ 23,000.

(x) Sold goods costing ₹ 10,000 at cost plus 20% less 10% trade discount to Bhupesh.

(xi) Sold goods purchased at list price of ₹ 50,000 less 15% trade discount sold at a profit of 25% less 10% trade discount against cheque.

(xii) Aman returned goods of list price of ₹ 10,000 sold to him at 10% trade discount.


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