No products in the cart.

Goods costing rs.2,00,000 sold at loss …

CBSE, JEE, NEET, CUET

CBSE, JEE, NEET, CUET

Question Bank, Mock Tests, Exam Papers

NCERT Solutions, Sample Papers, Notes, Videos

Goods costing rs.2,00,000 sold at loss of 5% out of which rs.1,20,000 received in cash. Iska j/e

Posted by Riya Chawla 6 years, 10 months ago

CBSE > Class 11 > Accountancy

3 answers

Himanshu Jha 6 years, 10 months ago

Since given that on 5% loss we sold the goods so , amount of loss on good will be 2,00,000/100 × 5 = 10,000 So , original sp = 2,00,000-10,000 = 1,90,000 So the given journal entry will be :- Cash A/C. Dr. 1,20,000 Debtors A/c dr. 70,000 To sales A/c 1,90,000

Aditya Mishra 6 years, 10 months ago

Goods less by 2,00,000 and cash add 1,20,000 create debtors colum 70,000 and 10,000 less by capital

Vishal Biyani 6 years, 10 months ago

Casha/c dr.120000 Debtors a/c dr.70000 ToSales A/c190000

ANSWER

https://examin8.com

Test

Related Questions

Goods of the selling price of 3000 are further withdrawn by Sonia for personal use 20% of cost is added to fix up the selling price

Posted by Prabhdeep Mall 1 year, 4 months ago

CBSE > Class 11 > Accountancy

0 answers

Paid cash to kamlesh rs 15000

Posted by Alok Bhartiya 1 year, 4 months ago

CBSE > Class 11 > Accountancy

2 answers

Started business with cash RS 90000 stock 30,000 Purchase परचेज फर्नीचर परचेज फर्नीचर फॉर कैश फॉर कैश 15000 में चेक पैड कैरिंग चार्ज रुपीस 1000 इन कैश सोल 1 की 2 का अबोव स्टॉक तो राम ऑन क्रेडिट रिसीव फ्रॉम राम आफ्टर ए डिस्काउंट का 200 रेंट पैड रुपीस 7000 आउट ऑफ़ व्हिच 2000 इस प्रिपेयर्ड

Posted by Anirudh Sarkar 1 year, 4 months ago

CBSE > Class 11 > Accountancy

1 answers

Illustration 62. Given below is the Balance Sheet of Krishna & Suresh who are partners in a firm sharing profits in the ratio of 3 : 2: Liabilities Amount Creditors Bank Overdraft Investment Fluctuation Fund Contingency Reserve Capital A/c : Krishna Suresh 30,000 20,000 21,000 2,000 6,000 5,000 50,000 84,000 Assets Plant Patents Furniture Investments (Market value Stock Debtors Cash 14,000) Amount (₹) 30,000 5,000 3,000 15,000 13,000 17,000 1,000 84,000 Mohan is admitted as a partner for 1/5th share on the following terms: (a) He is to contribute 14,000 as his share of capital which includes his share of premium for goodwill. (b) Goodwill is valued at 2 years' purchase of the average profits of the last 4 years, which were 10,000; 9,000; 8,000 and 13,000 respectively. (c) Plant to be written down to 25,000 and patents written up by * 8,000. Prepare the Revaluation Account, Partners' Capital Account and the Balance Sheet of the new firm.

Posted by Arya Patel 1 year, 4 months ago

CBSE > Class 11 > Accountancy

0 answers

Mohan is admitted as a partner for 1/5th share on the following terms: (a) He is to contribute 14,000 as his share of capital which includes his share of premium for goodwill. (b) Goodwill is valued at 2 years' purchase of the average profits of the last 4 years, which were 10,000; 9,000; 8,000 and 13,000 respectively. (c) Plant to be written down to 25,000 and patents written up by * 8,000. Prepare the Revaluation Account, Partners' Capital Account and the Balance Sheet of the new firm.

Posted by Arya Patel 3 months ago

CBSE > Class 11 > Accountancy

0 answers

Show the Accounting equation for the following transaction (i)Gopinath started business with cash

Posted by Garima Gaur 1 year, 4 months ago

CBSE > Class 11 > Accountancy

1 answers

Features of accounting ?

Posted by Soumyajit Patnaik 1 year, 4 months ago

CBSE > Class 11 > Accountancy

0 answers

Accounting equation practical problem so Accounts

Posted by Garima Gaur 1 year, 4 months ago

CBSE > Class 11 > Accountancy

0 answers

Chapter 3 question number 21

Posted by Ansh Dwivedi 1 year, 4 months ago

CBSE > Class 11 > Accountancy

0 answers

What is bad depts and how we can show in journal and ledger

Posted by Arun Arun 1 year, 4 months ago

CBSE > Class 11 > Accountancy

2 answers

myCBSEguide App

myCBSEguide

Trusted by 1 Crore+ Students

Test Generator

Test Generator

Create papers online. It's FREE.

CUET Mock Tests

CUET Mock Tests

75,000+ questions to practice only on myCBSEguide app

Google Play

Download myCBSEguide App