CameraIcon
CameraIcon
SearchIcon
MyQuestionIcon


Question

Put the following on the proper side of Cash account, Debtor's account and Creditor's account:
(a) Sold goods for cash ₹ 60,000.
(b) Sold goods to Hari on credit ₹ 20,000.
(c) Purchased goods from Krishan on credit ₹ 36,000.
(d) Purchased goods from Krishan for cash ₹ 10,000.
(e) Cash received from Hari ₹ 15,000.
(f) Cash paid to Krishan ₹ 28,000.


Solution

Increase in Cash (being an asset) will be shown on the debit side and decrease in cash will be recorded on the credit side of the Cash Account.

Cash Account 

Dr.

 

Cr.

Particulars

Amount

(Rs)

Particulars

Amount

(Rs)

Record increase in Cash on this side-

 

Record decrease in Cash on this side-

 

(a) Sold goods for cash

60,000

(d) Purchased goods for cash

10,000

(e) Cash received from Hari

15,000

(f) Cash paid to Krishan

28,000

Total

75,000

Total

38,000

 

 

Balance

37,000

 

75,000

 

75,000

 

 

 

 

Increase in Debtors (being an asset) will be shown on the debit side and decrease in them will be recorded on the credit side of the Debtors Account.

Debtors Account 
Dr. Cr.
Particulars Amount (Rs) Particulars Amount (Rs)
Record increase in Debtors on this side-   Record decrease in Debtors on this side-  
(b) Sold goods on credit 20,000 (e) Cash received from debtor 15,000
Total 20,000 Total 15,000
    Balance 5,000
  20,000   20,000
       


Increase in Creditors (being a liability) will be shown on the credit side and decrease in the creditors will be recorded on the debit side of the Creditors Account.
 

Creditors Account 
Dr. Cr.
Particulars Amount (Rs) Particulars Amount (Rs)
Record decrease in Creditors on this side-   Record increase in Creditors on this side-  
(f) Cash paid to creditor 28,000 (c) Purchased goods on credit 36,000
Total 28,000 Total 36,000
Balance 8,000    
  36,000   36,000
       

 


Accountancy
DK Goel (2019)
All

Suggest Corrections
thumbs-up
 
0


similar_icon
Similar questions
View More


similar_icon
Same exercise questions
View More



footer-image