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Page No 8.51:

Answer:

Journal

Date

Particulars

L.F.

Debit Amount

(Rs)

Credit Amount

(Rs)

2017

 

 

 

 

Jan.01

Cash A/c

Dr.

 

50,000

 

 

To Capital A/c

 

 

50,000

 

 (Sohan commenced business with cash )

 

 

 

 

 

 

 

 

Jan.02

Purchases A/c

Dr.

 

10,000

 

 

To Cash A/c

 

 

10,000

 

 (Purchased goods for cash )

 

 

 

 

 

 

 

 

Jan.05

Purchases A/c

Dr.

 

6,000

 

 

To Mohan

 

 

6,000

 

(Purchased goods from Mohan )

 

 

 

 

 

 

 

 

Jan.07

Bank A/c

Dr.

 

5,000

 

 

To Cash A/c

 

 

5,000

 

 (Paid into Bank )

 

 

 

 

 

 

 

 

Jan.10

Furniture A/c

Dr.

 

2,000

 

 

To Cash A/c

 

 

2,000

 

 (Purchased Furniture )

 

 

 

 

 

 

 

 

Jan.15

Cash A/c

Dr.

 

7,000

 

 

To Sales A/c

 

 

7,000

 

 (Sold goods for Cash)

 

 

 

 

 

 

 

 

Jan.20

Ram

Dr.

 

5,000

 

 

To Sales A/c

 

 

5,000

 

 (Sold goods to Ram)

 

 

 

 

 

 

 

 

Jan.25

Cash A/c

Dr.

 

3,500

 

 

To Sales A/c

 

 

3,500

 

 (Sold goods for Cash)

 

 

 

 

 

 

 

 

Jan.27

Mohan

Dr.

 

3,000

 

 

To Cash A/c

 

 

3,000

 

 (Paid to Mohan on account)

 

 

 

 

 

 

 

 

Jan.28

Wages

Dr.

 

100

 

 

To Cash A/c

 

 

100

 

(Paid Wages)

 

 

 

 

 

 

 

 

Jan.30

Rent A/c

Dr.

 

1,200

 

 

To Cash A/c

 

 

1,200

 

(Paid Rent)

 

 

 

 

 

 

 

 

Jan.31

Salaries A/c

Dr.

 

2,800

 

 

To Cash A/c

 

 

2,800

 

(Paid Salaries)

 

 

 

 

 

 

 

 

Jan.31

Mohan

Dr.

 

600

 

 

To Purchases Return A/c

 

 

600

 

(Returned goods to Mohan)

 

 

 

 

 

 

 

 

 

Page No 8.51:

Answer:

Journal 

Date

Particulars

L.F.

Debit

Amount

(Rs)

Credit

Amount

(Rs)

2017

 

 

 

 

Jan.01

Cash A/c

Dr.

 

30,000

 

 

To Capital A/c

 

 

30,000

 

 (Ram commenced business with Cash)

 

 

 

 

 

 

 

 

Jan.02

Bank A/c

Dr.

 

21,000

 

 

To Cash A/c

 

 

21,000

 

(Paid into Bank )

 

 

 

 

 

 

 

 

Jan.03

Purchases A/c

Dr.

 

1,500

 

 

To Cash A/c

 

 

1,500

 

 (Purchased goods)

 

 

 

 

 

 

 

 

Jan.07

Cash A/c

Dr.

 

3,000

 

 

To Bank A/c

 

 

3,000

 

 (Drew cash from Bank for office use )

 

 

 

 

 

 

 

 

Jan.10

Hari

Dr.

 

1,000

 

 

To Sales A/c

 

 

1,000

 

(Sold goods to Hari)

 

 

 

 

 

 

 

 

Jan.15

Purchases A/c

Dr.

 

1,500

 

 

To Shyam

 

 

1,500

 

(Purchased goods from Shyam)

 

 

 

 

 

 

 

 

Jan.20

Cash A/c

Dr.

 

3,000

 

 

To Sales A/c

 

 

3,000

 

(Cash Sales)

 

 

 

 

 

 

 

 

Jan.25

Shyam

Dr.

 

1,500

 

 

To Cash A/c

 

 

1,475

 

To Discount Received A/c

 

 

25

 

 (Paid to Shyam and received discount from him)

 

 

 

 

 

 

 

 

Jan.30

Rent A/c

Dr.

 

500

 

 

To Cash A/c

 

 

500

 

 (Paid Rent )

 

 

 

 

 

 

 

 

Jan.31

Salaries A/c

Dr.

 

1,000

 

 

To Cash A/c

 

 

1,000

 

(Paid Salaries)

 

 

 

 

 

 

 

 

Jan.31

Drawings A/c

Dr.

 

200

 

 

To Purchases A/c

 

 

200

 

(Goods drawn by proprietor for personal use)

 

 

 

 

 

 

 

 

 



Page No 8.52:

Answer:

Books of Ramesh

Journal

Date

Particulars

L.F

Debit

Amount

(Rs)

Credit

Amount

(Rs)

2017

 

 

 

 

April 01

Cash A/c

Dr.

 

1,00,000

 

 

To Capital A/c

 

 

1,00,000

 

(Ramesh started business with Cash )

 

 

 

 

 

 

 

 

April 02

Bank A/c

Dr.

 

20,000

 

 

To Cash A/c

 

 

20,000

 

(Cash paid into Bank)

 

 

 

 

 

 

 

 

April 03

Purchases A/c

Dr.

 

50,000

 

 

To Cash A/c

 

 

50,000

 

(Purchased goods for Cash )

 

 

 

 

 

 

 

 

April 04

Cash A/c

Dr.

 

10,000

 

 

To Bank A/c

 

 

10,000

 

(Drew Cash from Bank for office use)

 

 

 

 

 

 

 

 

April 13

Krishna

Dr.

 

15,000

 

 

To Sales A/c

 

 

15,000

 

(Sold goods to Krishna on credit)

 

 

 

 

 

 

 

 

April 20

Purchases A/c

Dr.

 

22,500

 

 

To Shyam A/c

 

 

22,500

 

(Bought goods from Shyam on credit)

 

 

 

 

 

 

 

 

April 24

Cash A/c

Dr.

 

12,500

 

 

Discount Allowed A/c

Dr.

 

500

 

 

To Krishna

 

 

13,000

 

(received cash from Krishna and discount allow)

 

 

 

 

 

 

 

 

April 28

Shyam

Dr.

 

22,500

 

 

To Cash A/c

 

 

21,500

 

To Discount Received A/c

 

 

1,000

 

(Paid to Shyam and discount Received)

 

 

 

 

 

 

 

 

April 28 Sales Return  A/c                                                  Dr.   2,000  
      To Krishna     2,000
  (Goods returned by Krishna)      
         

April 30

Cash A/c

Dr.

 

80,000

 

 

To Sales A/c

 

 

80,000

 

(Sold goods for cash)

 

 

 

 

 

 

 

 

April 30

Rent A/c

Dr.

 

5,000

 

 

Salary A/c

Dr.

 

10,000

 

 

To Cash A/c

 

 

15,000

 

(Rent and salary were paid)

 

 

 

 

Page No 8.52:

Answer:

Journal

Date

Particulars

L.F.

Debit

Amount

(Rs)

Credit

Amount

(Rs)

2017

 

 

 

 

 

Jan.01

Cash A/c

Dr.

 

1,00,000

 

 

     To Capital A/c

 

 

 

1,00,000

 

(Business started with cash)

 

 

 

 

 

 

 

 

 

 

Jan.02

Bank A/c

Dr.

 

60,000

 

 

    To Cash A/c

 

 

 

60,000

 

(Cash deposited into cash)

 

 

 

 

 

 

 

 

 

 

Jan.03

Purchases A/c

Dr.

 

20,000

 

 

     To M/s Singh & Co.

 

 

 

20,000

 

(Goods purchased)

 

 

 

 

 

 

 

 

 

 

Jan.03

Cartage A/c

Dr.

 

300

 

 

    To Cash A/c

 

 

 

300

 

(Cartage paid)

 

 

 

 

 

 

 

 

 

 

Jan.04

Furniture A/c

Dr.

 

2,000

 

 

    To Bank A/c

 

 

 

2,000

 

(Furniture purchased by cheque)

 

 

 

 

 

 

 

 

 

 

Jan.04

HP Printers A/c

Dr.

 

5,000

 

 

     To Bank A/c

 

 

 

5,000

 

(Advance paid for placing an order for printer)

 

 

 

 

 

 

 

 

 

 

Jan.04

Office Equipments A/c

Dr.

 

1,000

 

 

     To Bank A/c

 

 

 

1,000

 

(Calculator purchased by cheque)

 

 

 

 

 

 

 

 

 

 

Jan.04

Computer A/c

 

 

13,000

 

 

     To Bank A/c

 

 

 

13,000

 

(Computer purchased by cheque)

 

 

 

 

 

 

 

 

 

 

Jan.06

Postage A/c

Dr.

 

150

 

 

    To Cash A/c

 

 

 

150

 

(Postage paid)

 

 

 

 

 

 

 

 

 

 

Jan.08

Cash A/c

Dr.

 

4,000

 

 

    To Sales A/c

 

 

 

4,000

 

(Goods Sold)

 

 

 

 

 

 

 

 

 

 

Jan.09

M/s Sharda & Co.  A/c

Dr.

 

10,000

 

 

    To Sales A/c

 

 

 

10,000

 

(Goods Sold)

 

 

 

 

 

 

 

 

 

 

Jan.09

Cartage A/c

Dr.

 

200

 

 

    To Cash A/c

 

 

 

200

 

(Cartage paid)

 

 

 

 

 

 

 

 

 

 

Jan.15

M/s Singh & Co. A/c

Dr.

 

17,500

 

 

    To Cash A/c

 

 

 

17,500

 

(Payment made)

 

 

 

 

 

 

 

 

 

 

Jan.25

M/s Ray & Co.  A/c

Dr.

 

5,600

 

 

    To Sales A/c

 

 

 

5,600

 

(Goods Sold)

 

 

 

 

 

 

 

 

 

 

Jan.27

Bank A/c

Dr.

 

9,750

 

 

Discount Allowed A/c

Dr.

 

250

 

 

    To M/s Sharda & Co.  A/c

 

 

 

10,000

 

(Payment Received)

 

 

 

 

 

 

 

 

 

 

Jan.31

Electricity Charges A/c

Dr.

 

1,000

 

 

    To Cash A/c

 

 

 

1,000

 

(Electricity Charges paid)

 

 

 

 

 

 

 

 

 

 

Jan.31

Salary A/c

Dr.

 

1,500

 

 

    To Cash A/c

 

 

 

1,500

 

(Salary paid)

 

 

 

 

 

 

 

 

 

 

Jan.31

Rent A/c

Dr.

 

2,500

 

 

Drawings A/c

Dr.

 

2,500

 

 

    To Cash A/c

 

 

 

5,000

 

(Rent paid)

 

 

 

 

 

 

 

 

 

 

Jan.31

Drawings A/c

Dr.

 

3,500

 

 

    To Cash A/c

 

 

 

3,500

 

(Cash withdrawn for personal use)

 

 

 

 

 

 

 

 

 

Page No 8.52:

Answer:

Books of R. Singh & Co

Journal

Date

Particulars

L.F.

Debit Amount

(Rs)

Credit Amount

(Rs)

2017

 

 

 

 

July 01

Cash  A/c

Dr.

 

80,000

 

 

To Capital A/c

 

 

80,000

 

(Started business with cash)

 

 

 

 

 

 

 

 

July 01

Bank A/c

Dr.

 

50,000

 

 

To Cash A/c

 

 

50,000

 

(Cash paid into bank )

 

 

 

 

 

 

 

 

July 01

Stationery A/c

Dr.

 

300

 

 

To Cash A/c

 

 

300

 

(Purchased stationery for Cash)

 

 

 

 

 

 

 

 

July 02

Purchases A/c

Dr.

 

21,000

 

 

To Cash A/c

 

 

21,000

 

(Bought goods for Cash)

 

 

 

 

 

 

 

 

July 03

Postage Stamps A/c 

Dr.

 

100

 

 

To Cash A/c

 

 

100

 

(Bought postage Stamps)

 

 

 

 

 

 

 

 

July 05

Cash A/c

Dr.

 

7,500

 

 

To Sales A/c

 

 

7,500

 

(Sold Goods for Cash)

 

 

 

 

 

 

 

 

July 06

Furniture A/c

Dr.

 

5,000

 

 

To Bannerjee Bros.

 

 

5,000

 

(Bought office furniture from Bannerjee Bros.)

 

 

 

 

 

 

 

 

July 11

Mahendra

Dr.

 

10,000

 

 

To Sales A/c

 

 

10,000

 

(Good Sold to Mahendra)

 

 

 

 

 

 

 

 

July 12

Bank A/c

Dr.

 

10,000

 

 

To Mahendra

 

 

10,000

 

(Received cheque from Mahendra)

 

 

 

 

 

 

 

 

July 14

Bannerjee Bros.

Dr.

 

5,000

 

 

To Bank A/c

 

 

5,000

 

(Paid to Bannerjee Bros by cheque)

 

 

 

 

 

 

 

 

July 16

Ramesh & Co

Dr.

 

5,000

 

 

To Sales A/c

 

 

5,000

 

(Sold goods to Ramesh & co)

 

 

 

 

 

 

 

 

July 20

Purchases A/c

Dr.

 

7,000

 

 

To S. Seth & Bros.

 

 

7,000

 

(Bought goods from S. Seth & Bros)

 

 

 

 

 

 

 

 

July 23

Purchases A/c

Dr.

 

2,250

 

 

To Cash A/c

 

 

2,250

 

(Purchases of goods in cash from S. Narain & Co.)

 

 

 

 

 

 

 

 

July 24

P. Prakash

Dr.

 

3,500

 

 

To Sales A/c

 

 

3,500

 

( Sold goods to P. Parkash)

 

 

 

 

 

 

 

 

July 26

Cash A/c

Dr.

 

2,500

 

 

To Ramesh & Co

 

 

2,500

 

(Cash received from Ramesh & Co)

 

 

 

 

 

 

 

 

July 28

S. Seth & Bros

Dr.

 

7,000

 

 

To Bank A/c

 

 

6,850

 

To Discount Received A/c

 

 

150

 

(Paid to S. Seth & Bros. and discount received)

 

 

 

 

 

 

 

 

July 31

Salaries A/c

Dr.

 

2,500

 

 

To Cash A/c

 

 

2,500

 

(Paid Salaries)

 

 

 

 

 

 

 

 

July 31

Rent A/c

Dr.

 

1,000

 

 

To Rent Outstanding A/c

 

 

1,000

 

(Rent due to S. Sharma)

 

 

 

 

 

 

 

 

 



Page No 8.53:

Question 6:

Journalise the following transactions in the books of M/s. R.K. & Co.:
(i) Purchased goods at list price of  ₹ 20,000 from Vishal at 20% trade discount against cheque payment.
(ii) Purchased goods at list price of  ₹ 20,000 from Naman at 15% trade discount against cash.
(iii) Purchased goods at list price of  ₹ 30,000 from Amrit at 20% trade discount.
(iv) Purchased goods at list price of  ₹ 40,000 for ₹ 35,000 for cash.
(v) Goods returned of list price ₹ 10,000 purchased from Amrit.
(vi) Sold goods to Parul at list price of  ₹ 40,000 at 10% trade discount against cheque payment.
(vii) Sold goods to Aman at list price of  ₹ 30,000 at 10% trade discount against cash.
(viii) Sold goods to Pawan at list price of  ₹ 20,000 at 10% trade discount.
(ix) Sold goods to Yamini at list price of  ₹ 25,000 for ₹ 23,000.
(x) Sold goods costing ₹  10,000 at cost plus 20% less 10% trade discount to Bhupesh.
(xi) Sold goods purchased at list price of  ₹ 50,000 less 15% trade discount sold at a profit of 25%  less 10% trade discount against cheque.
(xii) Aman returned goods of list price of ₹ 10,000 sold to him at 10% trade discount.

Answer:

Journal

Date

Particulars

L.F.

Debit

Amount

(Rs)

Credit

Amount

(Rs)

 

 

 

 

 

 

(i)

Purchase A/c

Dr.

 

16,000

 

 

    To Bank A/c

 

 

 

16,000

 

(Goods purchased from Vishal by cheque)

 

 

 

 

 

 

 

 

 

 

(ii)

Purchase A/c

Dr.

 

17,000

 

 

    To Cash A/c

 

 

 

17,000

 

(Goods purchased from Naman for cash)

 

 

 

 

 

 

 

 

 

 

(iii)

Purchase A/c

Dr.

 

24,000

 

 

    To Amrit

 

 

 

24,000

 

(Goods purchased from Amrik on credit)

 

 

 

 

 

 

 

 

 

 

(iv)

Purchase A/c

Dr.

 

35,000

 

 

    To Cash A/c

 

 

 

35,000

 

(Goods purchased for cash)

 

 

 

 

 

 

 

 

 

 

(v)

Amrit

Dr.

 

8,000

 

 

   To Purchase Returns A/c

 

 

 

8,000

 

(Goods returned by Amrik)

 

 

 

 

 

 

 

 

 

 

(vi)

Bank A/c

Dr.

 

36,000

 

 

   To Sales A/c

 

 

 

36,000

 

(Goods sold to Parul by cheque)

 

 

 

 

 

 

 

 

 

 

(vii)

Cash A/c

Dr.

 

27,000

 

 

   To Sales A/c

 

 

 

27,000

 

(Goods sold to Aman for cash)

 

 

 

 

 

 

 

 

 

 

(viii)

Pawan

Dr.

 

18,000

 

 

   To Sales A/c

 

 

 

18,000

 

(Goods sold to Pawan on credit)

 

 

 

 

 

 

 

 

 

 

(ix)

Yamini 

Dr.

 

23,000

 

 

   To Sales A/c

 

 

 

23,000

 

(Goods sold to Yamini on credit)

 

 

 

 

 

 

 

 

 

 

(x)

Bhupesh 

Dr.

 

10,800

 

 

   To Sales A/c

 

 

 

10,800

 

(Goods sold to Bhupesh on credit)

 

 

 

 

 

 

 

 

 

 

(xi)

Bank A/c

Dr.

 

47,812.50

 

 

   To Sales A/c

 

 

 

47,812.50

 

(Goods sold against cheque)

 

 

 

 

 

 

 

 

 

 

(xii)

Sales Returns A/c

Dr.

 

9,000

 

 

   To Aman

 

 

 

9,000

 

(Goods returned by Aman )

 

 

 

 

 

 

 

 

 

 

Working Notes:

WN1: Calculation of Sales price

Sales Price = (10,000+20%=12,00010%)=Rs 10,800

WN 2: Calculation of Purchase price and Sales price 

Purchase Price =(50,00015%) Rs 42,500Sales Price =(42,500+25%=53,12510%)=Rs 47,812.5

Page No 8.53:

Question 7:

Journalise the following transactions in the books of Bhushan Agencies:
(i) Received from Bharat cash ₹ 20,000, allowed him discount of  ₹ 500.
(ii) Received from Vikas  ₹ 35,000 by cheque, allowed him discount of  ₹ 750.
(iii) Received from Akhil  ₹ 38,000 in settlement of his dues of  ₹ 40,000 in cash.
(iv) Received from Amrit  ₹ 50,000 by cheque on account against dues of  ₹ 60,000.
(v) Paid cash  ₹ 40,000 to suresh, availed discount of 2%.
(vi) Paid by cheque  ₹ 25,000 to Mehar and settled her dues of  ₹ 26,000.
(vii) Paid  ₹ 25,000 to Yogesh by cheque on account.
(viii) Purchased goods costing  ₹ 1,00,000 against cheque and availed discount of 3%.
(ix) Purchased goods costing  ₹ 60,000 from Akash & Co., paid 50% immediately availing 3% discount.
(x) Sold goods of  ₹ 30,000 against cheque allowing 2% discount.
(xi) Sold goods of  ₹ 60,000 to Vimal received 50% of due amount allowing 2% discount.

Answer:

Journal

Date

Particulars

L.F.

Debit

Amount

(Rs)

Credit

Amount

(Rs)

 

 

 

 

 

 

(i)

Cash A/c

Dr.

 

20,000

 

 

Discount Allowed A/c

Dr.

 

500

 

 

     To Bharat

 

 

 

20,500

 

(Payment received from Bharat)

 

 

 

 

 

 

 

 

 

 

(ii)

Bank A/c

Dr.

 

35,000

 

 

Discount Allowed A/c

Dr.

 

750

 

 

     To Vikas

 

 

 

35,750

 

(Payment received from Vikas)

 

 

 

 

 

 

 

 

 

 

(iii)

Cash A/c

Dr.

 

38,000

 

 

Discount Allowed A/c

Dr.

 

2,000

 

 

     To Akhil

 

 

 

40,000

 

(Payment received from Akhil)

 

 

 

 

 

 

 

 

 

 

(iv)

Bank A/c

Dr.

 

50,000

 

 

     To Amrit

 

 

 

50,000

 

(Payment received from Amrit)

 

 

 

 

 

 

 

 

 

 

(v)

Suresh

Dr.

 

40,000

 

 

   To Cash A/c

 

 

 

39,200

 

   To Discount Received A/c

 

 

 

800

 

(Payment made to Suresh)

 

 

 

 

 

 

 

 

 

 

(vi)

Mehar

Dr.

 

26,000

 

 

   To Bank A/c

 

 

 

25,000

 

   To Discount Received A/c

 

 

 

1,000

 

(Payment made to Meher)

 

 

 

 

 

 

 

 

 

 

(vii)

Yogesh

Dr.

 

25,000

 

 

      To Bank A/c

 

 

 

25,000

 

(Payment made to Yogesh)

 

 

 

 

 

 

 

 

 

 

(viii)

Purchases A/c

Dr.

 

97,000

 

 

      To Bank A/c

 

 

 

97,000

 

(Goods bought against cheque)

 

 

 

 

 

 

 

 

 

 

(ix)

Purchases A/c

Dr.

 

60,000

 

 

    To Akash & Co.

 

 

 

30,000

 

    To Cash A/c

 

 

 

29,100

 

    To Discount Received A/c

 

 

 

900

 

(Goods bought from Akash & Co.)

 

 

 

 

 

 

 

 

 

 

(x)

Bank A/c

Dr.

 

29,400

 

 

     To Sales A/c

 

 

 

29,400

 

(Goods sold against cheque)

 

 

 

 

 

 

 

 

 

 

(xi)

Vimal

Dr.

 

30,000

 

 

Cash A/c

Dr.

 

29,400

 

 

Discount Allowed A/c

Dr.

 

600

 

 

     To Sales A/c

 

 

 

60,000

 

(Goods sold to Vimal)

 

 

 

 

 

 

 

 

 

Page No 8.53:

Answer:

Journal

Date

Particulars

L.F.

Debit

Amount

(Rs)

Credit

Amount

(Rs)

 

 

 

 

 

 

(i)

Purchases A/c

Dr.

 

40,000

 

 

    To Cash A/c

 

 

 

38,800

 

    To Discount Received A/c

 

 

 

1,200

 

(Goods bought for cash at 3% cash discount)

 

 

 

 

 

 

 

 

 

 

(ii)

Purchases A/c

Dr.

 

30,000

 

 

    To Sanjay

 

 

 

15,000

 

    To Cash A/c

 

 

 

14,550

 

    To Discount Received A/c

 

 

 

450

 

(Goods bought from Sanjay Sales partly in cash and partly on credit)

 

 

 

 

 

 

 

 

 

 

(iii)

Purchases A/c

Dr.

 

40,000

 

 

    To Jatin & Co.

 

 

 

20,000

 

    To Bank A/c

 

 

 

19,400

 

    To Discount Received A/c

 

 

 

600

 

(Goods bought from Jatin & Co. partly in cash and partly on credit)

 

 

 

 

 

 

 

 

 

 

(iv)

Cash A/c

Dr.

 

4,122.5

 

 

Discount Allowed A/c

Dr.

 

127.5

 

 

    To Sales A/c

 

 

 

4,250

 

(Goods sold to Pankaj Agencies for cash)

 

 

 

 

 

 

 

 

 

 

(v)

Mukul Bros.

Dr.

 

18,000

 

 

Cash A/c

Dr.

 

26,460

 

 

Discount Allowed A/c

Dr.

 

540

 

 

    To Sales A/c

 

 

 

45,000

 

(Goods sold to Mukul Bros.)

 

 

 

 

 

 

 

 

 

 

(vi)

Bank A/c

Dr.

 

24,500

 

 

Discount Allowed A/c

Dr.

 

500

 

 

    To Sales A/c

 

 

 

25,000

 

(Goods sold against cheque)

 

 

 

 

 

 

 

 

 

 



Page No 8.54:

Answer:

Books of D. Chadha

Journal

Date

Particulars

L.F.

Debit Amount

(Rs)

Credit Amount

(Rs)

2017

 

 

 

 

Jan.01

Cash A/c

Dr.

 

2,50,000

 

 

To Capital A/c

 

 

2,50,000

 

(Started business with Cash)

 

 

 

 

 

 

 

 

Jan.02

Bank A/c

Dr.

 

2,35,000

 

 

To Cash A/c

 

 

2,35,000

 

(Paid in to Bank)

 

 

 

 

 

 

 

 

Jan.03

Purchases A/c

Dr.

 

5,400

 

 

To Ramesh & Co

 

 

5,400

 

(Bought goods from Ramesh & Co)

 

 

 

 

 

 

 

 

Jan.03

Rajesh

Dr.

 

48,000

 

 

To Sales A/c

 

 

48,000

 

(Sold goods to Rajesh)

 

 

 

 

 

 

 

 

Jan.07

Purchases A/c

Dr.

 

64,500

 

 

To Rahul

 

 

64,500

 

(Bought goods from Rahul )

 

 

 

 

 

 

 

 

Jan.08

Wages A/c

Dr.

 

800

 

 

To Cash A/c

 

 

800

 

(Paid Wages)

 

 

 

 

 

 

 

 

Jan.08

Mahesh Chand

Dr.

 

53,500

 

 

To Sales A/c

 

 

53,500

 

(Sold goods to Mahesh Chand)

 

 

 

 

 

 

 

 

Jan.10

Cash A/c

Dr.

 

46,800

 

 

Discount Allowed A/c

Dr.

 

1,200

 

 

To Rajesh

 

 

48,000

 

(Received cheque from Rajesh and discount allowed)

 

 

 

 

 

 

 

 

Jan.10

Bank A/c

Dr.

 

46,800

 

 

To Cash

 

 

46,800

 

( Paid into Bank)

 

 

 

 

 

 

 

 

Jan.11

Ramesh & Co

Dr.

 

5,400

 

 

To Cash A/c

 

 

5,130

 

To Discount Received

 

 

270

 

(Paid to Ramesh & Co and Discount Received)

 

 

 

 

 

 

 

 

Jan.12

Prepaid Rent A/c

Dr.

 

4,000

 

 

To Cash A/c

 

 

4,000

 

(Paid rent in advance upto March)

 

 

 

 

 

 

 

 

Jan.13

Purchases A/c

Dr.

 

74,000

 

 

To C.Khare

 

 

74,000

 

(Purchases from C Khare)

 

 

 

         

Jan.15

Wages A/c

Dr.

 

800

 

 

Expenses A/c

Dr.

 

700

 

 

To Cash A/c

 

 

1,500

 

(Paid wages and office expenses in cash)

 

 

 

 

 

 

 

 

Jan.16

 Jagdish A/c

Dr.

 

32,000

 

 

To Sales A/c

 

 

32,000

 

(Sold goods to Jagdish)

 

 

 

 

 

 

 

 

Jan.17

Rajesh

Dr.

 

16,000

 

 

To Sales A/c

 

 

16,000

 

(Sold goods to Rajesh)

 

 

 

 

 

 

 

 

Jan.21

 Mahesh Chand

Dr.

 

25,000

 

 

To Sales A/c

 

 

25,000

 

(Sold goods to Mahesh Chand)

 

 

 

 

 

 

 

 

Jan.21

Bank A/c

Dr.

 

32,000

 

 

To Jagdish

 

 

32,000

 

(Cheque received from Jagdish)

 

 

 

 

 

 

 

 

Jan.22

Wages A/c

Dr.

 

800

 

 

Expenses A/c

Dr.

 

500

 

 

To Cash A/c

 

 

1,300

 

(Paid wages and office expenses)

 

 

 

 

 

 

 

 

Jan.22

Ram Chand

Dr.

 

64,500

 

 

To Bank A/c

 

 

61,300

 

To Discount Received A/c

 

 

3,200

 

(Paid to Ram Chand and discount received)

 

 

 

 

 

 

 

 

Jan.25

Bank A/c

Dr.

 

52,000

 

 

Discount Allowed A/c

Dr.

 

1,500

 

 

To Mahesh Chand

 

 

53,500

 

(Received Cheque from Mahesh Chand and discount allowed)

 

 

 

 

 

 

 

 

Jan.27

Sales Return A/c

Dr.

 

2,000

 

 

To Mahesh Chand

 

 

2,000

 

(Goods returned by Mahesh Chand)