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dk goel accounts chapter 4 question no. 50
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dk goel accounts chapter 4 question no. 50
Explanation of DK Goel Accounts Chapter 4 Question No. 50
Question:
Ravi purchased goods for Rs. 50,000 and paid Rs. 10,000 at the time of purchase. He sold goods for Rs. 60,000 and received Rs. 40,000 at the time of sale. Pass necessary journal entries in the books of Ravi and prepare his accounts for the above transactions.
Journal Entries:
- To Purchase Account - Rs. 50,000
- To Cash Account - Rs. 10,000
- Being goods purchased on credit and cash paid for the same
- To Sales Account - Rs. 60,000
- To Cash Account - Rs. 40,000
- Being goods sold on credit and cash received for the same
Preparation of Accounts:
Ravi's accounts can be prepared using the following format:
| Particulars | L/F | Amount (Dr.) | Amount (Cr.) |
|---|---|---|---|
| Capital Account | |||
| To Purchase Account | Dr. | 50,000 | |
| To Cash Account | Dr. | 10,000 | |
| Total | 60,000 | ||
| To Sales Account | 60,000 | ||
| To Cash Account | 40,000 | ||
| Total | 100,000 | ||
| Balance c/d | 40,000 | ||
| 100,000 | 100,000 | ||
From the above accounts, we can conclude that Ravi purchased goods worth Rs. 50,000 on credit and paid Rs. 10,000 in cash. He sold goods worth Rs. 60,000 on credit and received Rs. 40,000 in cash. His total sales for the period was Rs. 1,00,000 out of which Rs. 40,000 was received in cash.
Community Answer
dk goel accounts chapter 4 question no. 50
Divide 300,000 amount by 5 =60000
To bank A/C 60,000. By balance B/d. 300000
To interest 45000. By interest. 45000
To bal C/d 240000 (300000�15�100)
Same procedure follow :-
To bank 60,000. By balance B/d 240000
To interest 36000. By interest 36000
To balance C/d 180000
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dk goel accounts chapter 4 question no. 50
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dk goel accounts chapter 4 question no. 50 for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about dk goel accounts chapter 4 question no. 50 covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for dk goel accounts chapter 4 question no. 50.
dk goel accounts chapter 4 question no. 50 for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about dk goel accounts chapter 4 question no. 50 covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for dk goel accounts chapter 4 question no. 50.
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