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Page No 13.57:

Question 1:

Journalise the following transactions, post them into Ledger, balance the accounts and prepare a Trial Balance :−

2017

  (₹)
March 1 Shyam Sunder & Sons commenced business with cash 80,000
2 Purchased goods for cash 36,000
3 Machinery purchased for cash 4,000
4 Purchased goods from :  
 
Raghu
22,000
 
Dilip
30,000
6 Returned goods to Raghu 4,000
8 Paid to Raghu, in full settlement of his account 17,500
10 Sold goods to Mahesh Chand & Co. for ₹ 32,000 at 5% trade discount  
13 Received cash from Mahesh Chand & Co. 19,800
  Discount allowed 200
15 Paid cash to Dilip 14,850
  Discount received 150
20 Sold goods for cash 25,000
24 Sold goods for cash to Sudhir Ltd. 18,000
25 Paid for Rent 1,500
26 Received for Commission 2,000
28 Withdrew by Proprietor for his personal use 5,000
28 Purchased a fan for Proprietor's house 1,200

Answer:

Journal
In the Books of…
Date Particulars L.F. Debit Amount (Rs) Credit Amount (Rs)
2017          
Mar. 01 Cash A/c Dr.   80,000  
    To Capital A/c       80,000
  (Business started with cash)        
           
Mar. 02 Purchases A/c Dr.   36,000  
    To Cash A/c       36,000
  (Goods purchased for cash)        
           
Mar. 03 Machinery A/c Dr.   4,000  
    To Cash A/c       4,000
  (Machinery purchased for cash)        
           
Mar. 04 Purchases A/c Dr.   52,000  
    To Raghu’s A/c       22,000
    To Dilip’s A/c       30,000
  (Goods purchased on credit from Raghu and Dilip)      
           
Mar. 06 Raghu’s A/c Dr.   4,000  
    To Purchases Return A/c       4,000
  (Goods returned to Raghu)        
           
Mar. 08 Raghu’s A/c Dr.   18,000  
    To Cash A/c       17,500
    To Discount Received A/c       500
  (Cash paid to Raghu in full settlement)        
           
Mar. 10 Mahesh Chand & Co. Dr.   30,400  
    To Sales A/c       30,400
  (Goods sold to Mahesh Chand & Co. at trade discount)      
           
Mar. 13 Cash A/c Dr.   19,800  
  Discount Allowed A/c     200  
    To Mahesh Chand & Co.       20,000
  (Cash received from Mahesh Chand & Co.)        
           
Mar. 15 Dilip’s A/c Dr.   15,000  
    To Cash A/c       14,850
    To Discount Received A/c       150
  (Cash paid to Dilip)        
           
Mar. 20 Cash A/c Dr.   25,000  
    To Sales A/c       25,000
  (Goods sold for cash)        
           
Mar. 24 Cash A/c Dr.   18,000  
    To Sales A/c       18,000
  (Goods sold for cash)        
           
Mar. 25 Rent A/c Dr.   1,500  
    To Cash A/c       1,500
  (Rent paid)        
           
Mar. 26 Cash A/c Dr.   2,000  
    To Commission A/c       2,000
  (Commission received)        
           
Mar. 28 Drawings A/c Dr.   6,200  
    To Cash A/c       6,200
  (Cash withdrawn and fan purchased for personal use)        
  TOTAL   3,12,100 3,12,100
         
 
Cash Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Mar.01 Capital A/c   80,000 Mar.02 Purchases A/c   36,000
Mar.13 Mahesh Chand & Co.   19,800 Mar.03 Machinery A/c   4,000
Mar.20 Sales A/c   25,000 Mar.08 Raghu’s A/c   17,500
Mar.24 Sales A/c   18,000 Mar.15 Dilip’s A/c   14,850
Mar.26 Commission A/c   2,000 Mar.25 Rent A/c   1,500
        Mar.28 Drawings A/c   6,200
        Mar.31 Balance c/d   64,750
      1,44,800       1,44,800
2017              
Apr.01 Balance b/d   64,750        
               
 
Capital Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount
(Rs)
2017       2017      
Mar.31 Balance c/d   80,000 Mar.01 Cash A/c   80,000
      80,000       80,000
        2017      
        Apr.01 Balance b/d   80,000
               
 
Purchases Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount
(Rs)
2017       2017      
Mar.02 Cash A/c   36,000 Mar.31 Balance c/d   88,000
Mar.04 Raghu’s A/c   22,000        
  Dilip’s A/c   30,000        
      88,000       88,000
2017              
Apr.01 Balance b/d   88,000        
               
 
Machinery Account
Dr.   Cr.
Date Particulars J.F. Amount
(Rs)
Date Particulars J.F. Amount
(Rs)
2017       2017      
Mar.03 Cash A/c   4,000 Mar.31 Balance c/d   4,000
      4,000       4,000
2017              
Apr.01 Balance b/d   4,000        
               
 
Raghu’s Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Mar.06 Purchases Return A/c   4,000 Mar.04 Purchases A/c   22,000
Mar.08 Cash A/c   17,500        
  Discount Received A/c   500        
      22,000       22,000
               
 
Dilip’s Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Mar.15 Cash A/c   14,850 Mar.04 Purchases A/c   30,000
Mar.15 Discount Received A/c   150        
Mar.31 Balance c/d   15,000        
      30,000       30,000
        2017      
        Apr.01 Balance b/d   15,000
               
 
Purchases Return Account
Dr.   Cr.
Date Particulars J.F. Amount
(Rs)
Date Particulars J.F. Amount (Rs)
2017       2017      
Mar.31 Balance c/d   4,000 Mar.06 Raghu’s A/c   4,000
      4,000       4,000
        2017      
        Apr.01 Balance b/d   4,000
               
 
Discount Received Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Mar.31 Balance c/d   650 Mar.08 Raghu’s A/c   500
        Mar.15 Dilip’s A/c   150
      650       650
        2017      
        Apr.01 Balance b/d   650
               
 
Discount Allowed Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount
(Rs)
2017       2017      
Mar.13 Mahesh Chand & Co.   200 Mar.31 Balance c/d   200
      200       200
2017              
Apr.01 Balance b/d   200        
               
 
Mahesh Chand & Co.
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Mar.10 Sales A/c   30,400 Mar.13 Cash A/c   19,800
        Mar.13 Discount Allowed A/c   200
        Mar.31 Balance c/d   10,400
      30,400       30,400
2017              
Apr.01 Balance b/d   10,400        
               
 
Rent Account
Dr.   Cr.
Date Particulars J.F. Amount
(Rs)
Date Particulars J.F. Amount
(Rs)
2017       2017      
Mar.25 Cash A/c   1,500 Mar.31 Balance c/d   1,500
      1,500       1,500
2017              
Apr.01 Balance b/d   1,500        
               
 
Commission Account
Dr.   Cr.
Date Particulars J.F. Amount
(Rs)
Date Particulars J.F. Amount
(Rs)
2017       2017      
Mar.31 Balance c/d   2,000 Mar.26 Cash A/c   2,000
      2,000       2,000
        2017      
        Apr.01 Balance b/d   2,000
               
 
Drawings Account
Dr.   Cr.
Date Particulars J.F. Amount
(Rs)
Date Particulars J.F. Amount
(Rs)
2017       2017      
Mar.28 Cash A/c   6,200 Mar.31 Balance c/d   6,200
      6,200       6,200
        2017      
        Apr.01 Balance b/d   6,200
               
 
Sales Account
Dr.   Cr.
Date Particulars J.F. Amount
(Rs)
Date Particulars J.F. Amount
(Rs)
2017       2017      
Mar.31 Balance c/d   73,400 Mar.10 Mahesh Chand & Co.   30,400
        Mar.20 Cash A/c   25,000
        Mar.24 Cash A/c   18,000
      73,400       73,400
        2017      
        Apr.01 Balance b/d   73,400
               
 
Trial Balance as on March 31, 2017
Name of Accounts L.F. Debit Balances Amount (Rs) Credit Balances Amount (Rs)
Cash A/c   64,750  
Capital A/c     80,000
Purchases A/c   88,000  
Machinery A/c   4,000  
Dilip’s A/c     15,000
Purchases Return A/c     4,000
Discount Received A/c     650
Discount Allowed A/c   200  
Mahesh Chand & Co.   10,400  
Rent A/c   1,500  
Commission A/c     2,000
Drawings A/c   6,200  
Sales A/c     73,400
Total   1,75,050 1,75,050
       



Page No 13.58:

Question 2:

Following balances appeared in the books of Ram & Shyam on January 1, 2017 :−
Assets : Cash in hand ₹ 30,000; Stock ₹ 36,000; Lal Chand ₹ 7,600; Mukesh Khanna ₹ 16,200; Furniture ₹ 8,000.
Liabilities : Ghanshyam ₹ 6,000; Vinod ₹ 8,000.
Following transactions took place during Jan. 2017 :−

2017

 
Jan. 2 Purchased Typewriter for ₹ 7,500.
4 Sold goods for Cash of the list price of ₹ 25,000 at 20% trade discount and 5% Cash discount.
6 Sold goods to Gopal Seth for ₹ 10,000.
8 Gopal Seth returned goods for ₹ 1,500.
12 Purchased goods from Arun ₹ 12,000; and from Varun ₹ 15,000.
13 Settled Arun's account in full after deducting 5% for cash discount.
14 Paid cash to Ghanshyam in full settlement of his account.
16 Received ₹ 7,500 from Lal Chand in full settlement of his account.
17 Purchased a Scooter for office use ₹ 18,000.
20 Sold goods for cash ₹ 20,000.
22 Received from Gopal Seth ₹ 4,850 and discount allowed ₹ 150.
27 Paid for Wages ₹ 7,000 and Salaries ₹ 3,000.
28 Withdrew goods for ₹ 2,000 and Cash ₹ 1,500 for private use.
29 Paid for Life Insurance Premium of the Proprietor ₹ 1,600.

Journalise the above transactions, post them into Ledger, balance them and prepare a Trial Balance.

Answer:

Journal
In the Books of Ram & Shyam
Date Particulars L.F. Debit Amount (Rs) Credit Amount (Rs)
2017          
Jan.01 Cash in hand A/c Dr.   30,000  
  Stock A/c Dr.   36,000  
  Lal Chand’s A/c Dr.   7,600  
  Mukesh Khanna’s A/c Dr.   16,200  
  Furniture A/c Dr.   8,000  
    To Ghanshyam’s A/c       6,000
    To Vinod’s A/c       8,000
    To Capital A/c (Balancing figure)       83,800
  (Opening entry made)      
           
Jan.02 Office Equipment A/c Dr.   7,500  
    To Cash A/c       7,500
  (Typewriter purchased)        
           
Jan.04 Cash A/c Dr.   19,000  
  Discount Allowed A/c Dr.   1,000  
    To Sales A/c       20,000
  (Goods sold for cash at 20% trade discount)        
           
Jan.06 Gopal Seth’s A/c Dr.   10,000  
    To Sales A/c       10,000
  (Goods sold on credit to Gopal Seth)        
           
Jan.08 Sales Return A/c Dr.   1,500  
    To Gopal Seth’s A/c       1,500
  (Goods returned)        
           
Jan.12 Purchases A/c Dr.   27,000  
    To Arun’s A/c       12,000
    To Varun’s A/c       15,000
  (Goods purchased on credit)        
           
Jan.13 Arun’s A/c Dr.   12,000  
    To Cash A/c       11,400
    To Discount Received A/c       600
  (Cash paid to Arun in full settlement)        
           
Jan.14 Ghanshyam’s A/c Dr.   6,000  
    To Cash A/c       6,000
  (Cash paid to Ghanshyam)        
           
Jan.16 Cash A/c Dr.   7,500  
  Discount Allowed A/c Dr.   100  
    To Lal Chand’s A/c       7,600
  (Cash received)        
           
Jan.17 Scooter A/c Dr.   18,000  
    To Cash A/c       18,000
  (Scooter purchased)        
           
Jan.20 Cash A/c Dr.   20,000  
    To Sales A/c       20,000
  (Goods sold for cash)        
           
Jan.22 Cash A/c Dr.   4,850  
  Discount Allowed A/c Dr.   150  
    To Gopal Seth’s A/c       5,000
  (Cash received)        
           
Jan.27 Wages A/c Dr.   7,000  
  Salaries A/c Dr.   3,000  
    To Cash A/c       10,000
  (Expenses paid)        
           
Jan.28 Drawings A/c Dr.   3,500  
    To Purchases A/c       2,000
    To Cash A/c       1,500
  (Amount withdrawn)        
           
Jan.29 Drawings A/c Dr.   1,600  
    To Cash A/c       1,600
  (Paid life insurance premium)        
  TOTAL   2,47,500 2,47,500
         
 
Cash Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.01 Balance c/d   30,000 Jan.02 Typewriter A//c   7,500
Jan.04 Sales A/c   19,000 Jan.13 Arun’s A/c   11,400
Jan.06 Lal Chand’s A/c   7,500 Jan.14 Ghanshyam’s A/c   6,000
Jan.20 Sales A/c   20,000 Jan.17 Scooter A/c   18,000
Jan.26 Gopal Seth’s A/c   4,850 Jan.27 Wages A/c   7,000
        Jan.27 Salaries A/c   3,000
        Jan.28 Drawings A/c   1,500
        Jan.29 Drawings A/c   1,600
        Jan.31 Balance c/d   25,350
      81,350       81,350
2017              
Feb.01 Balance b/d   25,350        
               
 
Stock Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.01 Balance b/d   36,000 Jan.31 Balance c/d   36,000
      36,000       36,000
2017              
Feb.01 Balance b/d   36,000        
               
 
Lal Chand’s A/c
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.01 Balance b/d   7,600 Jan.06 Cash A/c   7,500
          Discount Allowed   100
      7,600       7,600
               
 
Mukesh Khanna’s A/c
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.01 Balance b/d   16,200 Jan.31 Balance c/d   16,200
      16,200       16,200
2017              
Jan.01 Balance b/d   16,200        
               
 
Furniture Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.01 Balance b/d   8,000 Jan.31 Balance c/d   8,000
      8,000       8,000
2017              
Feb.01 Balance b/d   8,000        
               
 
Ghanshyam’s A/c
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.14 Cash A/c   6,000 Jan.01 Balance b/d   6,000
      6,000       6,000
               
 
Vinod’s A/c
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.31 Balance c/d   8,000 Jan.01 Balance b/d   8,000
      8,000       8,000
        2017      
        Feb.01 Balance b/d   8,000
               
 
Capital Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.31 Balance c/d   83,800 Jan.01 Balance b/d   83,800
      83,800       83,800
        2017      
        Feb.01 Balance b/d   83,800
               
 
Office Equipment Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.02 Cash A/c   7,500 Jan.31 Balance c/d   7,500
      7,500       7,500
2017              
Feb.01 Balance b/d   7,500        
               
 
Discount Allowed Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.04 Sales A/c   1,000 Jan.31 Balance c/d   1,250
Jan.16 Lal Chand’s A/c   100        
Jan.22 Gopal Seth’s A/c   150        
      1,250       1,250
2017              
Feb.01 Balance b/d   1,250        
               
 
Sales Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.31 Balance c/d   50,000 Jan.04 Cash A/c   19,000
        Jan.04 Discount Allowed A/c   1,000
        Jan.06 Gopal Seth’s A/c   10,000
        Jan.20 Cash A/c   20,000
      50,000       50,000
        2017      
        Feb.01 Balance b/d   50,000
               
 
Gopal Seth’s A/c
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.06 Sales A/c   10,000 Jan.08 Sales Return A/c   1,500
        Jan.22 Cash A/c   4,850
        Jan.22 Discount Allowed   150
        Jan.31 Balance c/d   3,500
      10,000       10,000
2017              
Feb.01 Balance b/d   3,500        
               
 
Sales Return Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.08 Gopal Seth’s A/c   1,500 Jan.31 Balance c/d   1,500
      1,500       1,500
2017              
Feb.01 Balance b/d   1,500        
               
 
Purchases Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.12 Arun’s A/c   12,000 Jan.28 Drawings A/c   2,000
  Varun’s A/c   15,000 Jan.31 Balance c/d   25,000
      27,000       27,000
2017              
Feb.01 Balance b/d   25,000        
               
 
Arun’s A/c
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.13 Cash A/c   11,400 Jan.12 Purchases A/c   12,000
Jan.13 Discount Received A/c   600        
      12,000       12,000
               
 
Varun’s A/c
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.31 Balance c/d   15,000 Jan.12 Purchases A/c   15,000
      15,000       15,000
        2017      
        Feb. 01 Balance b/d   15,000
               
 
Discount Received Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.31 Balance c/d   600 Jan.13 Arun’s A/c   600
      600       600
        2017      
        Feb.01 Balance b/d   600
               
 
Scooter Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.17 Cash A/c   18,000 Jan.31 Balance c/d   18,000
      18,000       18,000
2017              
Feb.01 Balance b/d   18,000        
               
 
Wages Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.27 Cash A/c   7,000 Jan.31 Balance c/d   7,000
      7,000       7,000
2017              
Feb.01 Balance b/d   7,000        
               
 
Salaries Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.27 Cash A/c   3,000 Jan.31 Balance c/d   3,000
      3,000       3,000
2017              
Feb.01 Balance b/d   3,000        
               
 
Drawings Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.28 Purchases A/c   2,000 Jan.31 Balance c/d   5,100
Jan.28 Cash A/c   1,500        
Jan.29 Cash A/c   1,600        
      5,100       5,100
2017              
Feb.01 Balance b/d   5,100        
               
 
Trial Balance
as on Jan. 31, 2017
Name of Accounts   L.F. Debit
Balances
Amount
(Rs)
Credit
Balances
Amount
(Rs)
Cash A/c   25,350
Stock A/c   36,000
Mukesh Khanna’s A/c   16,200
Furniture A/c   8,000
Vinod’s A/c   8,000
Capital A/c   83,800
Office Equipment A/c   7,500
Discount Allowed A/c   1,250
Sales A/c   50,000
Gopal Seth’s A/c   3,500
Sales Return A/c   1,500
Purchases A/c   25,000
Varun’s A/c   15,000
Discount Received A/c   600
Scooter A/c   18,000
Wages A/c   7,000
Salaries A/c   3,000
Drawings A/c   5,100
Total   1,57,400 1,57,400
       



Page No 13.59:

Question 3:

Prepare Journal Entries of the following postings :-

(I) Dr. PURCHASES A/C Cr.

 

 
To Cash A/c 2,000    
(II) Dr. SALARIES A/C Cr.

 

 
To Cash A/c 1,500    
(III) Dr. INTEREST A/C Cr.

 

 
    By Cash A/c 800
(IV) Dr. MOHAN Cr.

 

 
To Cash A/c 5,000    

Answer:

Journal
In the Books of…
Date Particulars L.F. Debit Amount (Rs) Credit Amount (Rs)
(I) Purchases A/c Dr.   2,000  
    To Cash A/c       2,000
  (Goods purchased for cash)        
           
(II) Salaries A/c Dr.   1,500  
    To Cash A/c       1,500
  (Salary paid in cash)        
           
(III) Cash A/c Dr.   800  
    To Interest A/c       800
  (Received interest in cash)        
           
(IV) Mohan’s A/c Dr.   5,000  
    To Cash A/c       5,000
  (Cash paid to Mohan)        
         

Page No 13.59:

Question 4:

Enter the following transactions in a Double Column Cash Book and Journal Proper and post them into Ledger ∶

May 1 Balance of Cash in Hand ₹ 12,400; Bank Overdraft ₹ 36,000.
3 Direct deposit by Mr. Ganesh in our bank account ₹ 10,000. Discount allowed ₹ 200.
5 Issued a cheque of ₹ 7,700 to Mr. Suresh in full settlement of his account of ₹ 8,000.
6 Received a cheque from X for ₹ 12,000. Discount allowed ₹ 500. This cheque was deposited into bank on 7th May.
8 Received Cash ₹ 22,000 and cheque of ₹ 8,000 for cash sale.
12 Cash sale ₹ 70,000 of which ₹ 55,000 banked.
15 Cheque received on 8th May endorsed to Mr. Sunil. Discount received ₹ 150.
20 Discounted a B/R of ₹ 10,000 at 1% through bank.
24 Cheque received from X dishonoured, Bank debits ₹ 20 in respect of bank charges.
25 Purchased goods for ₹ 50,000 at a trade discount of 10%. Payment was made in cash.
26 Withdrew from bank ₹ 10,000 for office use and ₹ 2,000 for personal use.
31 Interest debited by Bank ₹ 4,500.

Answer:

Cash Book
Dr.  
Date Particulars L.F. Cash
(Rs)
Bank
(Rs)
Date Particulars L.F. Cash
(Rs)
Bank
(Rs)
May 01 Balance b/d   12,400 May 01 Balance b/d   36,000
May 03 Ganesh’s A/c   10,000 May 05 Suresh’s A/c   7,700
May 07 Cheques-in-hand A/c   12,000 May 24 X’s A/c   12,000
May 08 Sales A/c   22,000 May 24 Bank Charges A/c   20
May 12 Sales A/c   15,000 55,000 May 25 Purchases A/c   45,000
May 20 Bills Receivable A/c   9,900 May 26 Cash A/c C 10,000
May 26 Bank A/c C 10,000 May 26 Drawings A/c   2,000
          May 31 Interest A/c   4,500
          May 31 Balance c/d   14,400 14,680
      59,400 86,900       59,400 86,900
June 01 Balance b/d   14,400 14,680          
                   

Journal
Date Particulars L.F. Debit
Amount
(Rs)
Credit
Amount
(Rs)
May 06 Cheques-in-Hand A/c Dr.   12,000  
  Discount Allowed A/c Dr.   500  
    To X’s A/c       12,500
  (Cheque received from X but not banked)