Journalise the following transactions assuming that cost and financial accounts are integrated: Particulars Amount (in ₹) Wages paid (20% indirect)…

Journal Entries under Integrated system of accounting Particulars (₹) (₹) (i) Work-in Progress Ledger Control A/c Dr. 1,60,000 Factory Overhead control A/c Dr. 40,000 To Wages Control A/c 2,00,000 (Being allocation of Direct and Indirect wages) (ii) Wages Control A/c Dr. 2,00,000 To Bank A/c 2,00,000 (Being wages paid) (iii) Cost of Sales A/c Dr. 50,000 To Selling & Distribution Overhead Control A/c 50,000 (Being selling & distribution overhead allocated) (iv) Selling & Distribution Overhead Control A/c Dr. 50,000 To Bank A/c 50,000 (Being selling & distribution overhead paid) (v) Factory overhead control A/c Dr. 80,000 To Stores Ledger Control A/c 80,000 (Being normal deficiency found in stock of raw material) (vi) Costing Profit & Loss A/c Dr. 60,000 To Factory Overhead Control A/c 60,000 (Being transfer of under absorption of factory overhead)