Page 59 - ISCDEBK-XI

7.14 Double Entry Book Keeping—ISC XI

(ix) Provided interest on capital at 6% p.a. for six months on ` 50,000.
(x) Sold goods to Manohar, list price ` 4,000, trade discount 10% and cash discount 5%. He paid the
amount on the same day and availed the cash discount.
(xi) Supplied goods costing ` 1,200 to Sohan, issued invoice at 10% above cost less 5% trade discount.
(xii) Received commission ` 5,000, half of which is in advance.
(xiii) Paid to landlord ` 1,200 for rent. One-third of the premises is occupied by the proprietor for his
own residence.
(xiv) Goods costing ` 500 were used by the proprietor for domestic purposes.
(xv) Goods uninsured costing ` 3,000 were destroyed by fire.
(xvi) Supplied goods costing ` 600 to Mohan issued at 10% above cost less 5% trade discount.
(xvii) Goods costing ` 8,000 were destroyed by fire; insurance company admitted the claim in full and paid
the amount by cheque.
(xviii) Paid ` 2,500 in cash as wages on installation of a machinery.
(xix) Issued a cheque in favour of M/s Parmatma Singh & Sons on account of purchase of goods worth
` 7,500.

(xx) Goods sold costing ` 6,000 to M/s Kalu & Sons at an invoice price of 10% above cost less 5%
trade discount.
(xxi) Received cash ` 500 from a debtor which was written off as bad debt last year.
(xxii) Interest charged on drawings @ 5% when total drawings were ` 10,000.

(xxiii) Received a cheque from J. Peterson ` 5,450. Allowed him discount of ` 150.
(xxiv) Returned goods to Sudershan of the value of ` 350.
(xxv) Bought 50 shares of X Ltd. at ` 60 per share, brokerage paid ` 100.
(xxvi) Goods worth ` 600 were damaged and sold to M for ` 300 only.
(xxvii) Sold goods to Kitty at a list price of ` 2,000. Sale subject to 10% trade discount and 5% cash discount
if payment is made immediately. Kitty availed of cash discount.
(xxviii) Supplied goods costing ` 600 to Shakuntala. Issued invoice at 10% above cost less 5% trade discount.