Accounting ProcessQuestion 4679 of 84
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Enter the following transactions in Sales Book of Gurgaon Engineers. Gurgaon for January, 2022: 2022 January 5 Sold to Praneet Electricals 10 pieces of microwaves@ Rs. 8,500 / -each less trade discount 15% 10 Sold to Ajanta plaza 8 pieces of Mixer grinders @ Rs. 12,500 /- each less trade discount 10% 20 Sold to Naveen traders, 15 pieces of juicers @ Rs. 5,500 / - each less trade discount 5% [June 2023, 4 Marks]

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Detailed Solution & Explanation

In the Books of Gurgaon Engineers Sales Book Date 2022 Name of customers Invoice No. L/F Details Amount Jan 5 Praneet Electricals 10 pieces of microwaves @ Rs. 8,500 each Less: @ 15% Trade discount 85,000 (12,750) 72,250 10 Ajanta plaza 8 pieces of Mixer grinders @ Rs. 12,500 each Less: @10% Trade discount 1,00,000 (10,000) 90,000 20 Naveen Traders 15 pieces of juicers@ Rs. 5,500 each Less: @ 5% Trade discount 82,500 (4,125) 78,375 Total 2,40,625

About This Chapter: Accounting Process

Paper

Paper 1: Accounting

Weightage

25-30%

Key Topics

Journal, Ledger, Trial Balance, Cash Book, Rectification

This chapter covers Journal, Ledger, Trial Balance, Cash Book, Rectification and is part of Paper 1: Accounting in the CA Foundation exam.

View Official ICAI Syllabus

Exam Strategy Tip

This topic carries 25-30% weightage. Focus on understanding core concepts rather than memorizing.

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