1.

Journalise the following transactions in the books of Prakash:(i) Opened a current account with Punjab National Bank ₹ 1,00,000.(ii) Received a cheque of ₹ 12,900 from Chandradev and allowed discount ₹ 300 to him. The cheque was deposited into Bank on the same day.(iii) Purchased machinery for ₹ 1,00,000, payment made by cheque. Installation charge of machinery ₹ 6,000 paid in cash.(iv) Purchased a horse for business for ₹ 20,000.(v) Sold goods to Gokul at a list price of ₹ 4,000. Trade discount 10% and cash discount 5%. He paid the amount on the same day and availed the cash discount.(vi) Purchased goods for ₹ 10,000 and paid ₹ 400 for carriage on these goods.(vii) Additional cash introduced by the proprietor ₹ 40,000.(viii) Purchased stationery ₹ 800 and postal stamps ₹ 100.(ix) Withdrawn from bank ₹ 20,000.(x) Received an order to supply goods of ₹ 40,000 from Manu and received ₹ 10,000 as an advance together with the order.(xi) Cash ₹ 10,000 and goods worth ₹ 4,000 were stolen.(xii) Purchased goods from Devendra for ₹ 40,000 and the payment was made by cheque.(xiii) Sold 1/4th of the above goods at a profit of 25% on cash.

Answer» Journalise the following transactions in the books of Prakash:



(i) Opened a current account with Punjab National Bank ₹ 1,00,000.

(ii) Received a cheque of ₹ 12,900 from Chandradev and allowed discount ₹ 300 to him. The cheque was deposited into Bank on the same day.

(iii) Purchased machinery for ₹ 1,00,000, payment made by cheque. Installation charge of machinery ₹ 6,000 paid in cash.

(iv) Purchased a horse for business for ₹ 20,000.

(v) Sold goods to Gokul at a list price of ₹ 4,000. Trade discount 10% and cash discount 5%. He paid the amount on the same day and availed the cash discount.

(vi) Purchased goods for ₹ 10,000 and paid ₹ 400 for carriage on these goods.

(vii) Additional cash introduced by the proprietor ₹ 40,000.

(viii) Purchased stationery ₹ 800 and postal stamps ₹ 100.

(ix) Withdrawn from bank ₹ 20,000.

(x) Received an order to supply goods of ₹ 40,000 from Manu and received ₹ 10,000 as an advance together with the order.

(xi) Cash ₹ 10,000 and goods worth ₹ 4,000 were stolen.

(xii) Purchased goods from Devendra for ₹ 40,000 and the payment was made by cheque.

(xiii) Sold 1/4th of the above goods at a profit of 25% on cash.


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