CA Foundation Exam > CA Foundation Questions > Johnny purchased goods of Rs.5,000 for cash a...
Start Learning for Free
Johnny purchased goods of Rs.5,000 for cash at 20% trade discount and 5% cash discount. Purchases A/c is to be debited by Rs. Csr,
- a)3,800
- b)5,000
- c)3,750
- d)4,000
Correct answer is option 'D'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Most Upvoted Answer
Johnny purchased goods of Rs.5,000 for cash at 20% trade discount and ...
Calculation of Trade Discount:
Trade Discount = 20% of Rs. 5,000
Trade Discount = (20/100) x 5,000
Trade Discount = Rs. 1,000
Calculation of Net Amount after Trade Discount:
Net Amount = Rs. 5,000 - Rs. 1,000
Net Amount = Rs. 4,000
Calculation of Cash Discount:
Cash Discount = 5% of Rs. 4,000
Cash Discount = (5/100) x 4,000
Cash Discount = Rs. 200
Calculation of Amount Paid:
Amount Paid = Net Amount - Cash Discount
Amount Paid = Rs. 4,000 - Rs. 200
Amount Paid = Rs. 3,800
Debiting Purchases Account:
Since Johnny made a cash purchase, the Purchases Account needs to be debited with the amount paid, i.e., Rs. 3,800.
Therefore, the correct answer is option 'D' (Rs. 4,000).
Trade Discount = 20% of Rs. 5,000
Trade Discount = (20/100) x 5,000
Trade Discount = Rs. 1,000
Calculation of Net Amount after Trade Discount:
Net Amount = Rs. 5,000 - Rs. 1,000
Net Amount = Rs. 4,000
Calculation of Cash Discount:
Cash Discount = 5% of Rs. 4,000
Cash Discount = (5/100) x 4,000
Cash Discount = Rs. 200
Calculation of Amount Paid:
Amount Paid = Net Amount - Cash Discount
Amount Paid = Rs. 4,000 - Rs. 200
Amount Paid = Rs. 3,800
Debiting Purchases Account:
Since Johnny made a cash purchase, the Purchases Account needs to be debited with the amount paid, i.e., Rs. 3,800.
Therefore, the correct answer is option 'D' (Rs. 4,000).
Free Test
FREE
| Start Free Test |
Community Answer
Johnny purchased goods of Rs.5,000 for cash at 20% trade discount and ...
Purchase a/c ...dr.....4000 to cash a/c............3800 to dis. received.....200 trade discount @20% ₹5000×20/100 =1000 amount of the bill ₹5000-₹1000 ₹4000 cash discount @5% ₹4000×5/100 =200 net payment made =4000-200 =₹3800.. so as per this Q purchase A/c will be debited by ₹4000. Hope this help..
Attention CA Foundation Students!
To make sure you are not studying endlessly, EduRev has designed CA Foundation study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in CA Foundation.
|
Explore Courses for CA Foundation exam
|
|
Similar CA Foundation Doubts
Top Courses for CA FoundationView all
Johnny purchased goods of Rs.5,000 for cash at 20% trade discount and 5% cash discount. Purchases A/c is to be debited by Rs. Csr,a)3,800b)5,000c)3,750d)4,000Correct answer is option 'D'. Can you explain this answer?
Question Description
Johnny purchased goods of Rs.5,000 for cash at 20% trade discount and 5% cash discount. Purchases A/c is to be debited by Rs. Csr,a)3,800b)5,000c)3,750d)4,000Correct answer is option 'D'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Johnny purchased goods of Rs.5,000 for cash at 20% trade discount and 5% cash discount. Purchases A/c is to be debited by Rs. Csr,a)3,800b)5,000c)3,750d)4,000Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Johnny purchased goods of Rs.5,000 for cash at 20% trade discount and 5% cash discount. Purchases A/c is to be debited by Rs. Csr,a)3,800b)5,000c)3,750d)4,000Correct answer is option 'D'. Can you explain this answer?.
Johnny purchased goods of Rs.5,000 for cash at 20% trade discount and 5% cash discount. Purchases A/c is to be debited by Rs. Csr,a)3,800b)5,000c)3,750d)4,000Correct answer is option 'D'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Johnny purchased goods of Rs.5,000 for cash at 20% trade discount and 5% cash discount. Purchases A/c is to be debited by Rs. Csr,a)3,800b)5,000c)3,750d)4,000Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Johnny purchased goods of Rs.5,000 for cash at 20% trade discount and 5% cash discount. Purchases A/c is to be debited by Rs. Csr,a)3,800b)5,000c)3,750d)4,000Correct answer is option 'D'. Can you explain this answer?.
Solutions for Johnny purchased goods of Rs.5,000 for cash at 20% trade discount and 5% cash discount. Purchases A/c is to be debited by Rs. Csr,a)3,800b)5,000c)3,750d)4,000Correct answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of Johnny purchased goods of Rs.5,000 for cash at 20% trade discount and 5% cash discount. Purchases A/c is to be debited by Rs. Csr,a)3,800b)5,000c)3,750d)4,000Correct answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Johnny purchased goods of Rs.5,000 for cash at 20% trade discount and 5% cash discount. Purchases A/c is to be debited by Rs. Csr,a)3,800b)5,000c)3,750d)4,000Correct answer is option 'D'. Can you explain this answer?, a detailed solution for Johnny purchased goods of Rs.5,000 for cash at 20% trade discount and 5% cash discount. Purchases A/c is to be debited by Rs. Csr,a)3,800b)5,000c)3,750d)4,000Correct answer is option 'D'. Can you explain this answer? has been provided alongside types of Johnny purchased goods of Rs.5,000 for cash at 20% trade discount and 5% cash discount. Purchases A/c is to be debited by Rs. Csr,a)3,800b)5,000c)3,750d)4,000Correct answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Johnny purchased goods of Rs.5,000 for cash at 20% trade discount and 5% cash discount. Purchases A/c is to be debited by Rs. Csr,a)3,800b)5,000c)3,750d)4,000Correct answer is option 'D'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
|
|
Explore Courses for CA Foundation exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup