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Page No 9.26:

Answer:

Journal

Date

Particulars

L.F.

Debit

Amount

(Rs)

Credit

Amount

(Rs)

2017

 

 

 

 

 

Apr.01

Cash A/c

Dr.

 

50,000

 

 

     To Capital A/c

 

 

 

50,000

 

(Business started with cash)

 

 

 

 

 

 

 

 

 

 

Apr.03

Purchases A/c

Dr.

 

20,000

 

 

     To Rita

 

 

 

20,000

 

(Goods purchased from Rita on credit)

 

 

 

 

 

 

 

 

 

 

Apr.04

Rita

Dr.

 

10,000

 

 

    To Cash A/c

 

 

 

10,000

 

(Cash paid to Rita)

 

 

 

 

 

 

 

 

 

 

Apr.06

Rohit

Dr.

 

25,000

 

 

    To Sales A/c

 

 

 

25,000

 

(Goods sold to Rohit on credit)

 

 

 

 

 

 

 

 

 

 

Apr.08

Cash A/c

Dr.

 

20,000

 

 

    To Rohit

 

 

 

20,000

 

(Cash received from Rohit)

 

 

 

 

 

 

 

 

 

 

Apr.12

Purchases A/c

Dr.

 

12,000

 

 

     To Rita

 

 

 

12,000

 

(Goods purchased from Rita on credit)

 

 

 

 

 

 

 

 

 

 

Apr.18

Rita

Dr.

 

20,000

 

 

    To Cash A/c

 

 

 

20,000

 

(Cash paid to Rita)

 

 

 

 

 

 

 

 

 

 

Apr.25

Rohit

Dr.

 

10,000

 

 

    To Sales A/c

 

 

 

10,000

 

(Goods Sold to Rohit)

 

 

 

 

 

 

 

 

 

 

Apr.30

Cash A/c

Dr.

 

6,000

 

 

    To Rohit

 

 

 

6,000

 

(Cash received from Rohit)

 

 

 

 

 

 

 

 

 

 

Cash Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2017

 

 

 

2017

 

 

 

Apr.01

Capital A/c

 

50,000

Apr.04

Rita

 

10,000

Apr.08

Rohit

 

20,000

Apr.18

Rita

 

20,000

Apr.30

Rohit

 

6,000

Apr.30

Balance c/d

 

46,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

76,000

 

 

 

76,000

May.01

Balance b/d

 

46,000

 

 

 

 

                   

 

Capital Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2017

 

 

 

2017

 

 

 

Apr.30

Balance c/d

 

50,000

Apr.01

Cash A/c

 

50,000

 

 

 

 

 

 

 

 

 

 

 

50,000

 

 

 

50,000

 

 

 

 

May.01

Balance b/d

 

50,000

                   

 

Purchases Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2017

 

 

 

2017

 

 

 

Apr.03

Rita

 

20,000

Apr.30

Balance c/d

 

32,000

Apr.12

Rita

 

12,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

32,000

 

 

 

32,000

May.01

Balance b/d

 

32,000

 

 

 

 

                   

 

Rita 

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2017

 

 

 

2017

 

 

 

Apr.04

Cash A/c

 

10,000

Apr.03

Purchases A/c

 

20,000

Apr.18

Cash A/c

 

20,000

Apr.12

Purchases A/c

 

12,000

Apr.30

Balance c/d

 

2,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

32,000

 

 

 

32,000

 

 

 

 

May.01

Balance b/d

 

2,000

                   

 

Rohit

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2017

 

 

 

2017

 

 

 

Apr.06

Sales A/c

 

25,000

Apr.08

Cash A/c

 

20,000

Apr.25

Sales A/c

 

10,000

Apr.30

Cash A/c

 

6,000

 

 

 

 

Apr.30

Balance c/d

 

9,000

 

 

 

 

 

 

 

 

 

 

 

35,000

 

 

 

35,000

May.01

Balance b/d

 

9,000

 

 

 

 

                   

 

Sales Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2017

 

 

 

2017

 

 

 

Apr.30

Balance c/d

 

35,000

Apr.06

Rohit

 

25,000

 

 

 

 

Apr.25

Rohit

 

10,000

 

 

 

 

 

 

 

 

 

 

 

35,000

 

 

 

35,000

 

 

 

 

May.01

Balance b/d

 

35,000

 

Page No 9.26:

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.03

Purchases A/c

Dr.

 

20,000

 

 

     To Gupta & Co.

 

 

 

20,000

 

(Goods purchased from Gupta & Co.)

 

 

 

 

 

 

 

 

 

 

Jan.05

Cash A/c

Dr.

 

5,000

 

 

    To Sales A/c

 

 

 

5,000

 

(Goods sold for cash)

 

 

 

 

 

 

 

 

 

 

Jan.08

Purchases A/c

Dr.

 

8,000

 

 

     To Cash A/c

 

 

 

8,000

 

(Goods purchased for cash)

 

 

 

 

 

 

 

 

 

 

Jan.10

Ahmed & Co.

Dr.

 

10,000

 

 

    To Sales A/c

 

 

 

10,000

 

(Goods sold to Ahmed & Co. on credit)

 

 

 

 

 

 

 

 

 

 

Jan.11

Bank A/c

Dr.

 

50,000

 

 

    To Cash A/c

 

 

 

50,000

 

(Cash deposited into bank)

 

 

 

 

 

 

 

 

 

 

Jan.13

Computers A/c

Dr.

 

20,000

 

 

    To Cash A/c

 

 

 

20,000

 

(Computers purchased)

 

 

 

 

 

 

 

 

 

 

Jan.15

Cash A/c

Dr.

 

70,000

 

 

    To Loan from Mehboob

 

 

 

70,000

 

(Loan taken from Mehboob)

 

 

 

 

 

 

 

 

 

 

Jan.15

Sales Return A/c

Dr.

 

2,000

 

 

   To Ahmed & Co.

 

 

 

2,000

 

(Goods returned by Ahmed & Co.)

 

 

 

 

 

 

 

 

 

 

Jan.17

Furniture A/c

Dr.

 

10,000

 

 

    To Mehfil Mart

 

 

 

10,000

 

(Furniture purchased from Mehfil Mart)

 

 

 

 

 

 

 

 

 

 

Jan.18

Interest on Mehboob Loan A/c

Dr.

 

2,000

 

 

       To Cash A/c

 

 

 

2,000

 

(Interest on Loan paid)

 

 

 

 

 

 

 

 

 

 

Jan.19

Insurance Claim A/c

Dr.

 

1,000

 

 

      To Ahmed & Company

 

 

 

1,000

 

(Insurance Claim due)

 

 

 

 

 

 

 

 

 

 

Jan.22

Rent A/c

Dr.

 

2,000

 

 

    To Bank A/c

 

 

 

2,000

 

(Rent paid)

 

 

 

 

 

 

 

 

 

 

Jan.24

Cash A/c

Dr.

 

20,000

 

 

    To Bank A/c

 

 

 

20,000

 

(Cash withdrawn from bank)

 

 

 

 

 

 

 

 

 

 

Jan.25

Cash A/c

Dr.

 

9,000

 

 

    To Sales A/c

 

 

 

9,000

 

(Goods sold for cash)

 

 

 

 

 

 

 

 

 

 

Jan.26

Loss by Accident A/c

Dr.

 

10,000

 

 

    To Purchases A/c

 

 

 

10,000

 

(Goods lost by accident)

 

 

 

 

 

 

 

 

 

 

Jan.27

Advertisement A/c

Dr.

 

5,000

 

 

   To Bank A/c

 

 

 

5,000

 

(Advertisement made)

 

 

 

 

 

 

 

 

 

 

Jan.28

Bank A/c

Dr.

 

6,000

 

 

Discount Allowed A/c

Dr.

 

1,000

 

 

    To Ahmed & Company

 

 

 

7,000

 

(Payment Received)

 

 

 

 

 

 

 

 

 

 

Jan.29

Gupta & Company

Dr.

 

20,000

 

 

     To Bank A/c

 

 

 

18,000

 

     To Discount Received A/c

 

 

 

2,000

 

(Payment made)

 

 

 

 

 

 

 

 

 

 

Jan.30

Cash A/c

Dr.

 

500

 

 

    To Sundry Income A/c

 

 

 

500

 

(Sundry Income received)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

                                                                                                   Ledger

Cash Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2017

 

 

 

2017

 

 

 

Jan.01

Capital

 

1,00,000

Jan.08

Purchases

 

8,000

Jan.05

Sales

 

5,000

Jan.11

Bank

 

50,000

Jan.15

Loan from Mehboob

 

70,000

Jan.13

Computer

 

20,000

Jan.24

Bank

 

20,000

Jan.18

Interest on Mehboob Loan

 

2,000

Jan.25

Sales

 

9,000

Jan.31

Balance c/d

 

1,24,500

Jan.31

Sundry income

 

500

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2,04,500

 

 

 

2,04,500

Feb.01

Balance b/d

 

1,24,500

 

 

 

 

                   

 

Purchases Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2017

 

 

 

2017

 

 

 

Jan.03

Gupta & Company

 

20,000

Jan.26

Loss by Accident

 

10,000

Jan.08

Cash

 

8,000

Jan.31

Balance c/d

 

18,000

 

 

 

 

 

 

 

 

 

 

 

28,000

 

 

 

28,000

Feb.01

Balance b/d

 

18,000

 

 

 

 

                   

 

Capital Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2017

 

 

 

2017

 

 

 

Jan.31

Balance c/d

 

1,00,000

Jan.01

Cash

 

1,00,000

 

 

 

 

 

 

 

 

 

 

 

1,00,000

 

 

 

1,00,000

 

 

 

 

Feb.01

Balance b/d

 

1,00,000

                   

 

Sales Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2017

 

 

 

2017

 

 

 

Jan.31

Balance c/d

 

24,000

Jan.05

Cash

 

5,000

 

 

 

 

Jan.10

Ahmed & Company

 

10,000

 

 

 

 

Jan.25

Cash

 

9,000

 

 

 

 

 

 

 

 

 

 

 

24,000

 

 

 

24,000

 

 

 

 

Feb.01

Balance b/d

 

24,000

                   

 

Gupta & Company

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2017

 

 

 

2017

 

 

 

Jan.29

Bank

 

18,000

Jan.03

Purchases

 

20,000

 

Discount Received

 

2,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

20,000

 

 

 

20,000

 

 

 

 

 

 

 

 

                   

 

Ahmed & Company

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2017

 

 

 

2017

 

 

 

Jan.10

Sales

 

10,000

Jan.16

Sales returns

 

2,000

 

 

 

 

Jan.19

Insurance claim

 

1,000

 

 

 

 

Jan.28

Bank

 

6,000

 

 

 

 

 

Discount Allowed

 

1,000

 

 

 

 

 

 

 

 

 

 

 

10,000

 

 

 

10,000

 

 

 

 

 

 

 

 

                   

 

Bank Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2017

 

 

 

2017

 

 

 

Jan.11

Cash

 

50,000

Jan.22

Rent

 

2,000

Jan.28

Ahmed & Company

 

6,000

Jan.24

Cash

 

20,000

 

 

 

 

Jan.27

Advertisement

 

5,000

 

 

 

 

Jan.29

Gupta & Company

 

18,000

 

 

 

 

Jan.31

Balance c/d

 

11,000

 

 

 

 

 

 

 

 

 

 

 

56,000

 

 

 

56,000

Feb.01

Balance b/d

 

11,000

 

 

 

 

                   

 

Computers Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2017

 

 

 

2017

 

 

 

Jan.13

Cash

 

20,000

Jan.31

Balance c/d

 

20,000

 

 

 

 

 

 

 

 

 

 

 

20,000

 

 

 

20,000

Feb.01

Balance b/d

 

20,000

 

 

 

 

                   

 

Loan from Mehboob

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2017

 

 

 

2017

 

 

 

Jan.31

Balance c/d

 

70,000

Jan.15

Cash

 

70,000

 

 

 

 

       

 

 

 

70,000

 

 

 

70,000

 

 

 

 

Feb.01

Balance b/d

 

70,000

                   

 

Insurance Claim Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2017

 

 

 

2017

 

 

 

Jan.19

Ahmed & Company

 

1,000

Jan.31

Balance c/d

 

1,000

 

 

 

 

 

 

 

 

 

 

 

1,000

 

 

 

1,000

Feb.01

Balance b/d

 

1,000

 

 

 

 

                   

 

Rent Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2017

 

 

 

2017

 

 

 

Jan.22

Bank 

 

2,000

Jan.31

Balance c/d

 

2,000

 

 

 

 

 

 

 

 

 

 

 

2,000

 

 

 

2,000

Feb.01

Balance b/d

 

2,000

 

 

 

 

                   

 

Loss by Accident Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2017

 

 

 

2017

 

 

 

Jan.26

Purchases  

 

10,000

Jan.31

Balance c/d

 

10,000

 

 

 

 

 

 

 

 

 

 

 

10,000

 

 

 

10,000

Feb.01

Balance b/d

 

10,000

 

 

 

 

                   

 

Advertisement Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2017

 

 

 

2017

 

 

 

Jan.27

Bank 

 

5,000

Jan.31

Balance c/d

 

5,000

 

 

 

 

 

 

 

 

 

 

 

5,000

 

 

 

5,000

Feb.01

Balance b/d

 

5,000

 

 

 

 

                   

 

Sales Returns Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2017

 

 

 

2017

 

 

 

Jan.16

Ahmed & Company 

 

2,000

Jan.31

Balance c/d

 

2,000

 

 

 

 

 

 

 

 

 

 

 

2,000

 

 

 

2,000

Feb.01

Balance b/d

 

2,000

 

 

 

 

                   

 

Furniture Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2017

 

 

 

2017

 

 

 

Jan.17

Mehfil Mart 

 

10,000

Jan.31

Balance c/d

 

10,000

 

 

 

 

 

 

 

 

 

 

 

10,000

 

 

 

10,000

Feb.01

Balance b/d

 

10,000

 

 

 

 

                   

 

Mehfil Mart 

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2017

 

 

 

2017

 

 

 

Jan.31

Balance c/d

 

10,000

Jan.17

Furniture

 

10,000

 

 

 

 

 

 

 

 

 

 

 

10,000

 

 

 

10,000

 

 

 

 

Feb.01

Balance b/d

 

10,000

                   

 

Interest on Mehboob Loan Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2017

 

 

 

2017

 

 

 

Jan.18

Cash A/c

 

2,000

Jan.31

Balance c/d

 

2,000

 

 

 

 

 

 

 

 

 

 

 

2,000

 

 

 

2,000

Feb.01

Balance b/d

 

2,000

 

 

 

 

 

Discount Allowed Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2017

 

 

 

2017

 

 

 

Jan.28

Ahmed & Company

 

1,000

Jan.31

Balance c/d

 

1,000

 

 

 

 

 

 

 

 

 

 

 

1,000

 

 

 

1,000

Feb.01

Balance b/d

 

1,000

 

 

 

 

                   

 

Discount Received Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2017

 

 

 

2017

 

 

 

Jan.31

Balance c/d

 

2,000

Jan.29

Gupta & Company

 

2,000

 

 

 

 

 

 

 

 

 

 

 

2,000

 

 

 

2,000

 

 

 

 

Feb.01

Balance b/d

 

2,000

                   

 

Sundry Incomes  Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2017

 

 

 

2017

 

 

 

Jan.31

Balance c/d

 

500

Jan.31

Cash

 

500

 

 

 

 

 

 

 

 

 

 

 

500

 

 

 

500

 

 

 

 

Feb.01

Balance b/d

 

500

 



Page No 9.27:

Answer:

Books of M/s Gupta Brothers

Journal

Date

Particulars

L.F.

Debit Amount

(Rs)

Credit

Amount

(Rs)

2017

 

 

 

 

Mar.01

Cash A/c

Dr.

 

2,00,000

 

 

To Capital A/c

 

 

2,00,000

 

(Started business with Cash)

 

 

 

 

 

 

 

 

Mar.02

Bank A/c

Dr.

 

80,000

 

 

To Cash A/c

 

 

80,000

 

(Opened Bank account with SBI)

 

 

 

 

 

 

 

 

Mar.04

Purchases A/c

Dr.

 

22,000

 

 

To Raj

 

 

22,000

 

(Purchased goods from Raj)

 

 

 

 

 

 

 

 

Mar.05

Purchases A/c

Dr.

 

30,000

 

 

To Cash A/c

 

 

30,000

 

(Purchased goods for Cash)

 

 

 

 

 

 

 

 

Mar.08

Naman A/c

Dr.

 

12,000

 

 

To Sales A/c

 

 

12,000

 

(Sold good to Naman)

 

 

 

 

 

 

 

 

Mar.10

Raj

Dr.

 

22,000

 

 

To Cash A/c

 

 

22,000

 

(Cash Paid to Raj)

 

 

 

 

 

 

 

 

Mar.15

Cash A/c

Dr.

 

11,700

 

 

Discount Allowed A/c

Dr.

 

300

 

 

To Naman

 

 

12,000

 

(Cash received from Naman and discount allowed)

 

 

 

 

 

 

 

 

Mar.16

Wages A/c

Dr.

 

200

 

 

To Cash

 

 

200

 

(Paid Wages)

 

 

 

 

 

 

 

 

Mar.18

Furniture A/c

Dr.

 

5,000

 

 

To Cash

 

 

5,000

 

(Purchased furniture for office use)

 

 

 

 

 

 

 

 

Mar.20

Drawings A/c

Dr.

 

4,000

 

 

To Bank A/c

 

 

4,000

 

(Withdrawn from bank for personal use)

 

 

 

 

 

 

 

 

Mar.22

Rent A/c

Dr.

 

3,000

 

 

To Bank A/c

 

 

3,000

 

(Paid Rent through cheque)

 

 

 

 

 

 

 

 

Mar.23

Drawings A/c

Dr.

 

2,000

 

 

To Purchases A/c

 

 

2,000

 

(Goods taken for personal use)