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Page No 8.30:

Answer:

Journal

Date

Particulars

L.F.

Debit

Amount

(Rs)

Credit

Amount

(Rs)

2016

 

 

 

 

 

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’s A/c

 

 

 

20,000

 

(Goods purchased from Rita on credit)

 

 

 

 

 

 

 

 

 

 

Apr. 04

Rita’s A/c

Dr.

 

10,000

 

 

  To Cash A/c

 

 

 

10,000

 

(Cash paid to Rita)

 

 

 

 

 

 

 

 

 

 

Apr. 06

Rohit’s A/c

Dr.

 

25,000

 

 

  To Sales A/c

 

 

 

25,000

 

(Goods were sold to Rohit on credit)

 

 

 

 

 

 

 

 

 

 

Apr. 08

Cash A/c

Dr.

 

20,000

 

 

  To Rohit’s A/c

 

 

 

20,000

 

(Cash received from Rohit)

 

 

 

 

 

 

 

 

 

 

Apr. 12

Purchases A/c

Dr.

 

12,000

 

 

  To Rita’s A/c

 

 

 

12,000

 

(Goods purchased from Rita on credit)

 

 

 

 

 

 

 

 

 

 

Apr. 18

Rita’s A/c

Dr.

 

20,000

 

 

  To Cash A/c

 

 

 

20,000

 

(Cash paid to Rita)

 

 

 

 

 

 

 

 

 

 

Apr. 25

Rohit’s A/c

Dr.

 

10,000

 

 

  To Sales A/c

 

 

 

10,000

 

(Goods sold to Rohit)

 

 

 

 

 

 

 

 

 

 

Apr. 30

Cash A/c

Dr.

 

6,000

 

 

  To Rohit’s A/c

 

 

 

6,000

 

(Cash received from Rohit)

 

 

 

 

 

 

 

 

 

 

Cash Account

 

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

 

2016

 

 

 

2016

 

 

 

 

Apr. 01

Capital A/c

 

50,000

Apr. 04

Rita’s A/c

 

10,000

 

Apr. 08

Rohit’s A/c

 

20,000

Apr. 18

Rita’s A/c

 

20,000

 

Apr. 30

Rohit’s A/c

 

6,000

Apr. 30

Balance c/d

 

46,000

 

 

 

 

 

 

 

 

 

 

 

 

 

76,000

 

 

 

76,000

 

 

 

 

 

 

 

 

 

 

                     

 

Capital Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2016

 

 

 

2016

 

 

 

Apr. 30

Balance c/d

 

50,000

Apr. 01

Cash A/c

 

50,000

 

 

 

50,000

 

 

 

50,000

 

 

 

 

 

 

 

 

                   

 

Purchases Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2016

 

 

 

2016

 

 

 

Apr. 03

Rita’s A/c

 

20,000

Apr. 30

Balance c/d

 

32,000

Apr. 12

Rita’s A/c

 

12,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

32,000

 

 

 

32,000

 

 

 

 

 

 

 

 

                   

 

Rita’s Account

Dr.

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2016

 

 

 

2016

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales Account

Dr.

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2016

 

 

 

2016

 

 

 

Apr. 30

Balance c/d

 

35,000

Apr. 06

Rohit’s A/c

 

25,000

 

 

 

 

Apr. 25

Rohit’s A/c

 

10,000

 

 

 

35,000

 

 

 

35,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Rohit’s Account

Dr.

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2016

 

 

 

2016

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Page No 8.30:

Answer:

Journal

Date

Particulars

L.F.

Debit

Amount

(Rs)

Credit

Amount

(Rs)

2016

 

 

 

 

 

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)

 

 

 

 

 

 

 

 

 

 

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

Computer A/c

Dr.

 

20,000

 

 

  To Cash A/c

 

 

 

20,000

 

(Computer purchased for office)

 

 

 

 

 

 

 

 

 

 

Jan.15

Cash A/c

Dr.

 

70,000

 

 

  To Loan from Mehboob

 

 

 

70,000

 

(Loan taken from Mehboob)

 

 

 

 

 

 

 

 

 

 

 Jan.16

Sales Return A/c

Dr.

 

2,000

 

 

  To Ahmed & Co.

 

 

 

2,000

 

(Goods returned)

 

 

 

 

 

 

 

 

 

 

Jan.17

Furniture A/c

Dr.

 

10,000

 

 

  To Mehfil Mart

 

 

 

10,000

 

(Furniture purchased)

 

 

 

 

 

 

 

 

 

 

Jan.18

Interest on Loan A/c

Dr.

 

2,000

 

 

  To Cash A/c

 

 

 

2,000

 

(Interest paid on Loan)

 

 

 

 

 

 

 

 

 

 

Jan.19

Loss by Defect A/c

Dr.

 

1,000

 

 

  To Ahmed & Co.

 

 

 

1,000

 

(Claim accepted)

 

 

 

 

 

 

 

 

 

 

Jan.22

Rent A/c

Dr.

 

2,000

 

 

  To Bank A/c

 

 

 

2,000

 

(Rent paid by cheque)

 

 

 

 

 

 

 

 

 

 

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)

 

 

 

 

 

 

 

 

 

 

Jan.26

Loss by Accident A/c

Dr.

 

10,000

 

 

  To Purchases A/c

 

 

 

10,000

 

(Goods destroyed by accident)

 

 

 

 

 

 

 

 

 

 

Jan.27

Advertisement A/c

Dr.

 

5,000

 

 

  To Bank A/c

 

 

 

5,000

 

(Advertisement expenses paid through Bank)

 

 

 

 

 

 

 

 

 

 

Jan.28

Bank A/c

Dr.

 

6,000

 

 

Discount Allowed A/c

Dr.

 

1,000

 

 

  To Ahmed & Co.

 

 

 

7,000

 

(Final payment received)

 

 

 

 

 

 

 

 

 

 

Jan.29

Gupta & Co.

Dr.

 

20,000

 

 

  To Bank A/c

 

 

 

18,000

 

  To Discount Received A/c

 

 

 

2,000

 

(Final payment made to Gupta & Co.)

 

 

 

 

 

 

 

 

 

 

Jan.31

Cash A/c

Dr.

 

500

 

 

  To Sundry Income A/c

 

 

 

500

 

(Old newspapers were sold)

 

 

 

 

 

 

 

 

 

­­­­­­

                                                                                    Ledger

Cash Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2016

 

 

 

2016

 

 

 

Jan. 01

Capital A/c

 

1,00,000

Jan. 08

Purchases A/c

 

8,000

Jan. 05

Sales A/c

 

5,000

Jan. 11

Bank A/c

 

50,000

Jan. 15

Loan from Mehboob

 

70,000

Jan. 13

Computers A/c

 

20,000

Jan. 24

Bank A/c

 

20,000

Jan. 18

Interest on Loan

 

2,000

Jan. 25

Sales A/c

 

9,000

Jan. 31

Balance c/d

 

1,24,500

Jan. 31

Sundry Income A/c

 

500

 

 

 

 

 

 

 

2,04,500

 

 

 

2,04,500

 

 

 

 

 

 

 

 

                   

 

Capital Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2016

 

 

 

2016

 

 

 

Jan. 31

Balance c/d

 

1,00,000

Jan. 01

Cash A/c

 

1,00,000

 

 

 

 

 

 

 

 

 

 

 

1,00,000

 

 

 

1,00,000

 

 

 

 

 

 

 

 

                   

 

Purchases Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2016

 

 

 

2016

 

 

 

Jan.03

Gupta & Co.

 

20,000

Jan. 26

Loss by Accident A/c

 

10,000

Jan. 08

Cash A/c

 

8,000

Jan. 31

Balance c/d

 

18,000

 

 

 

28,000

 

 

 

28,000

 

 

 

 

 

 

 

 

                   

 

Gupta & Co. Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2016

 

 

 

2016

 

 

 

Jan. 29

Bank A/c

 

18,000

Jan. 03

Purchases A/c

 

20,000

Jan. 29

Discount Received A/c

 

2,000

 

 

 

 

 

 

 

20,000

 

 

 

20,000

 

 

 

 

 

 

 

 

                   

 

Sales Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2016

 

 

 

2016

 

 

 

Jan. 31

Balance c/d

 

 

Jan. 05

Cash A/c

 

5,000

 

 

 

 

Jan. 10

Ahmed & Co.

 

10,000

 

 

 

 

Jan. 25

Cash A/c

 

9,000

 

 

 

24,000

 

 

 

24,000

 

 

 

 

 

 

 

 

                   

 

Ahmed & Co. 

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2016

 

 

 

2016

 

 

 

Jan. 10

Sales A/c

 

10,000

Jan. 16

Sales Return A/c

 

2,000

 

 

 

 

Jan. 19

Loss by Defect A/c

 

1,000

 

 

 

 

Jan. 28

Bank A/c

 

6,000

 

 

 

 

Jan. 28

Discount Allowed A/c

 

1,000

 

 

 

10,000

 

 

 

10,000

 

 

 

 

 

 

 

 

                   

 

Bank Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2016

 

 

 

2016

 

 

 

Jan. 11

Cash A/c

 

50,000

Jan. 22

Rent A/c

 

2,000

Jan. 28

Ahmed & Co.

 

6,000

Jan. 24

Cash A/c

 

20,000

 

 

 

 

Jan. 27

Advt. A/c

 

5,000

 

 

 

 

Jan. 29

Gupta & Co.

 

18,000

 

 

 

 

Jan. 31

Balance c/d

 

11,000

 

 

 

56,000

 

 

 

56,000

 

 

 

 

 

 

 

 

                   

 

Computer Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2016

 

 

 

2016

 

 

 

Jan. 13

Cash A/c

 

20,000

Jan. 31

Balance c/d

 

20,000

 

 

 

20,000

 

 

 

20,000

 

 

 

 

 

 

 

 

                   

 

Loan from Mehboob Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2016

 

 

 

2016

 

 

 

Jan. 15

Balance c/d

 

70,000

Jan. 15

Cash A/c

 

70,000

 

 

 

70,000

 

 

 

70,000

 

 

 

 

 

 

 

 

                   

 

Sales Return Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2016

 

 

 

2016

 

 

 

Jan. 16

Ahmed & Co. A/c

 

2,000

Jan. 31

Balance c/d

 

2,000

 

 

 

2,000

 

 

 

2,000

 

 

 

 

 

 

 

 

                   

 

Furniture Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2016

 

 

 

2016

 

 

 

Jan. 17

Mehfil Mart A/c

 

10,000

Jan. 31

Balance c/d

 

10,000

 

 

 

10,000

 

 

 

10,000

 

 

 

 

 

 

 

 

                   

 

Mehfil Mart Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2016

 

 

 

2016

 

 

 

Jan. 31

Balance c/d

 

10,000

Jan. 17

Furniture A/c

 

10,000

 

 

 

10,000

 

 

 

10,000

 

 

 

 

 

 

 

 

                   

 

Interest on Loan Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2016

 

 

 

2016

 

 

 

Jan. 18

Cash A/c

 

2,000

Jan. 31

Balance c/d

 

2,000

 

 

 

2,000

 

 

 

2,000

 

 

 

 

 

 

 

 

                   

 

Loss by Defect Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2016

 

 

 

2016

 

 

 

Jan.19

Ahmed & Co.

 

1,000

Jan. 31

Balance c/d

 

1,000

 

 

 

1,000

 

 

 

1,000

 

 

 

 

 

 

 

 

                   

 

Rent Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2016

 

 

 

2016

 

 

 

Jan.22

Bank A/c

 

2,000

Jan. 31

Balance c/d

 

2,000

 

 

 

 

 

 

 

 

 

 

 

2,000

 

 

 

2,000

 

 

 

 

 

 

 

 

                   

 

Loss by Accident Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2016

 

 

 

2016

 

 

 

Jan. 26

Purchases

 

10,000

Jan. 31

Balance c/d

 

10,000

 

 

 

10,000

 

 

 

10,000

 

 

 

 

 

 

 

 

                   

 

Advertisement Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2016

 

 

 

2016

 

 

 

Jan. 27

Bank A/c

 

5,000

Jan. 31

Balance c/d

 

5,000

 

 

 

 

 

 

 

 

 

 

 

5,000

 

 

 

5,000

 

 

 

 

 

 

 

 

                   

 

Discount Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2016

 

 

 

2016

 

 

 

Jan. 28

Ahmed & Co.

 

1,000

Jan. 29

Gupta & Co.

 

2,000

Jan. 31

Balance c/d

 

1,000

 

 

 

 

 

 

 

2,000

 

 

 

2,000

 

 

 

 

 

 

 

 

                   

 

Sundry Income Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2016

 

 

 

2016

 

 

 

Jan. 31

Balance c/d

 

500

Jan. 31

Cash A/c

 

500

 

 

 

500

 

 

 

500

 

 

 

 

 

 

 

 

 



Page No 8.31:

Answer:

Books of M/s. Bhanu Traders

Date

Particulars

L.F.

Debit

Amount

(Rs)

Credit

 Amount

(Rs)

2016

 

 

 

 

April 01

Cash A/c

Dr.

 

1,50,000

 

 

To Capital A/c

 

 

1,50,000

 

(Commenced business with Cash)

 

 

 

 

 

 

 

 

April 02

Bank A/c

Dr.

 

50,000

 

 

To Cash A/c

 

 

50,000

 

(Opened a bank account with PNB and deposited Cash into bank)

 

 

 

 

 

 

 

 

April 03

Furniture A/c

Dr.

 

20,000

 

 

To Cash A/c

 

 

20,000

 

(Purchased furniture)

 

 

 

 

 

 

 

 

April 07

Purchase A/c

Dr.

 

30,000

 

 

To Cash A/c

 

 

30,000

 

(Bought goods in cash)

 

 

 

 

 

 

 

 

April 08

Purchase A/c

Dr.

 

42,000

 

 

 To M/s Hema Traders

 

 

42,000

 

(Purchased goods from M/s. Hema Traders)

 

 

 

 

 

 

 

 

April 10

Cash A/c

Dr.

 

30,000

 

 

To Sales A/c

 

 

30,000

 

(Goods Sold for Cash)

 

 

 

 

 

 

 

 

April 14

M/s. Gupta Traders

Dr.

 

12,000

 

 

To Sales A/c

 

 

12,000

 

(Sold goods to M/s. Gupta Traders)

 

 

 

 

 

 

 

 

April 16

Rent A/c

Dr.

 

4,000

 

 

To Cash A/c

 

 

4,000

 

(Rent paid )

 

 

 

 

 

 

 

 

April 18

Trade Expenses A/c

Dr.

 

1,000

 

 

To Cash A/c

 

 

1,000

 

(Paid Trade Expenses)

 

 

 

 

 

 

 

 

April 20

Cash A/c

Dr.

 

12,000

 

 

To M/s. Gupta Traders

 

 

12,000

 

(Received cash from M/s. Gupta Traders)

 

 

 

 

 

 

 

 

April 22

M/s. Hema Traders A/c

Dr.

 

2,000

 

 

To Purchases Return A/c

 

 

2,000

 

(Goods returned to M/s. Hema Traders)

 

 

 

 

 

 

 

 

April 23

M/s. Hema Traders

Dr.

 

40,000

 

 

To Cash

 

 

40,000

 

(Cash paid to M/s. Hema Traders)

 

 

 

 

 

 

 

 

April 25

Postage Stamps A/c

Dr.

 

100

 

 

To Cash A/c

 

 

100

 

(Bought postage stamps)

 

 

 

 

 

 

 

 

April 30

Salary A/c

Dr.

 

4,000

 

 

To Cash A/c

 

 

4,000

 

(Paid Salary to Mohan)

 

 

 

 

 

 

 

 

 

 

Ledger

Cash Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2016

 

 

 

2016

 

 

 

April 01

Capital

 

1,50,000

April 02

Bank

 

50,000

April 10

Sales

 

30,000

April 03

Furniture

 

20,000

April 20

M/s. Gupta Traders

 

12,000

April 07

Purchases

 

30,000

 

 

 

 

April 16

Rent

 

4,000

 

 

 

 

April 18

Trade Expenses

 

1,000

 

 

 

 

April 23

M/s. Hema Traders

 

40,000

 

 

 

 

April 25

Postage Stamps

 

100

 

 

 

 

April 30

Salary

 

4,000

 

 

 

 

April 30

Balance c/d

 

42,900

 

 

 

1,92,000

 

 

 

1,92,000

 

 

 

 

 

 

 

 

                   

 

Capital Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2016

 

 

 

2016

 

 

 

April 30

Balance c/d

 

1,50,000

April 01

Cash

 

1,50,000

 

 

 

1,50,000

 

 

 

1,50,000

 

 

 

 

 

 

 

 

                   

 

Bank Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2016

 

 

 

2016

 

 

 

April 02

Cash

 

50,000

April 30

Balance c/d

 

50,000

 

 

 

50,000

 

 

 

50,000

 

 

 

 

 

 

 

 

                   

 

 

Furniture Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount

(Rs)

Date

Particulars

J.F.

Amount

(Rs)

2016

 

 

 

2016