Accounting ProcessQuestion 4683 of 84
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Prepare Sales Book of M/s. Alpha of Kanpur for March, 2024  Mar. 5 Sold to M/s. ABC 10 pieces of Chairs @ Rs. 5,000/- each less Trade Discount 5%.  Mar. 12 Sold to M/s. PQR 25 pieces of Tables@ Rs. 2,000/ - each less Trade Discount 10%.  Mar. 18 Sold to M/s. MTB 5 pieces of Recliner Chairs @ Rs. 11000/- each less Trade Discount 10%. Payment received through cash.  Mar. 28 Sold to M/ s. LMS 50 pieces of cupboards@ Rs. 10,000 / • each less Trade Discount 20%. [RTP Jan. 2025]

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Detailed Solution & Explanation

(a) Sales book of M/s. Alpha for March, 24 Date Particulars Gross Amount Trade Discount Net Amount March 2024 5 M/s. ABC 10 pieces of Chairs @ Rs. 5,000/- each less Trade Discount 5% 50,000 2,500 47,500 12 M/s. PQR 25 pieces of Tables @ Rs. 2,000/- each less Trade Discount 10% 50,000 5,000 45,000 28 M/s. LMS 50 pieces of cupboards @ Rs. 10,000/- each less Trade Discount 20%. 5,00,000 1,00,000 4,00,000 Total 6,00,000 1,07,500 4,92,500 Note: Transaction dated: 18 March will not be recorded in sales book being cash transaction.

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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