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Page No 7.48:
Question 1:
Answer:
Personal Account |
Real Account |
Nominal Account |
(vii) Bank Overdraft |
(i) Land |
(iv) Interest Received |
(viii) Debtors |
(ii) Investments |
(v) Salary |
(ix) Creditors |
(iii) Building |
(vi) Excise Duty |
(xii) Capital |
(xv) Motor Vehicles |
(x) Purchase Returns |
(xiii) Drawings |
(xviii) Goodwill |
(xi) Bad Debts |
|
|
(xiv) Depreciation |
|
|
(xvi) Freight |
|
|
(xvii) Wages |
|
|
(xix) Return Inwards |
|
|
(xx) Repairs |
Page No 7.48:
Question 2:
Personal Account |
Real Account |
Nominal Account |
(vii) Bank Overdraft |
(i) Land |
(iv) Interest Received |
(viii) Debtors |
(ii) Investments |
(v) Salary |
(ix) Creditors |
(iii) Building |
(vi) Excise Duty |
(xii) Capital |
(xv) Motor Vehicles |
(x) Purchase Returns |
(xiii) Drawings |
(xviii) Goodwill |
(xi) Bad Debts |
|
|
(xiv) Depreciation |
|
|
(xvi) Freight |
|
|
(xvii) Wages |
|
|
(xix) Return Inwards |
|
|
(xx) Repairs |
Answer:
Assets |
Liabilities |
Capital |
Revenue |
Expenses |
|||||
(i) |
Plant and Machinery |
(ii) |
Bank Loan |
(xvi) |
Capital |
(iii) |
Sales |
(iv) |
Rent |
(xii) |
Accrued Income |
(ix) |
Bills Payable |
|
|
(v) |
Discount Received |
(vi) |
Carriage Inwards |
(xiii) |
Goodwill |
(xi) |
Advance Income |
|
|
(xvii) |
Rent Received |
(vii) |
Carriage Outwards |
(xiv) |
Furniture and Fixtures |
(xv) |
Outstanding Expenses |
|
|
|
|
(viii) |
Purchases |
|
|
|
|
|
|
|
|
(x) |
Wages |
Page No 7.48:
Question 3:
Assets |
Liabilities |
Capital |
Revenue |
Expenses |
|||||
(i) |
Plant and Machinery |
(ii) |
Bank Loan |
(xvi) |
Capital |
(iii) |
Sales |
(iv) |
Rent |
(xii) |
Accrued Income |
(ix) |
Bills Payable |
|
|
(v) |
Discount Received |
(vi) |
Carriage Inwards |
(xiii) |
Goodwill |
(xi) |
Advance Income |
|
|
(xvii) |
Rent Received |
(vii) |
Carriage Outwards |
(xiv) |
Furniture and Fixtures |
(xv) |
Outstanding Expenses |
|
|
|
|
(viii) |
Purchases |
|
|
|
|
|
|
|
|
(x) |
Wages |
Answer:
Name of Accounts |
Consequence of increase |
Modern Approach |
Traditional Approach |
|
(i) |
Furniture |
Debit |
Assets |
Real Account |
(ii) |
Mohan (Proprietor ) |
Credit |
Capital |
Personal Account |
(iii) |
Salary |
Debit |
Expense |
Nominal Account |
(iv) |
Purchases |
Debit |
Expense |
Nominal Account |
(v) |
Sales |
Credit |
Revenue |
Nominal Account |
(vi) |
Interest Paid |
Debit |
Expense |
Nominal Account |
(vii) |
Sohan (Creditor) |
Credit |
Liabilities |
Personal Account |
(viii) |
Ram (Debtor) |
Debit |
Assets |
Personal Account |
Page No 7.48:
Question 4:
Name of Accounts |
Consequence of increase |
Modern Approach |
Traditional Approach |
|
(i) |
Furniture |
Debit |
Assets |
Real Account |
(ii) |
Mohan (Proprietor ) |
Credit |
Capital |
Personal Account |
(iii) |
Salary |
Debit |
Expense |
Nominal Account |
(iv) |
Purchases |
Debit |
Expense |
Nominal Account |
(v) |
Sales |
Credit |
Revenue |
Nominal Account |
(vi) |
Interest Paid |
Debit |
Expense |
Nominal Account |
(vii) |
Sohan (Creditor) |
Credit |
Liabilities |
Personal Account |
(viii) |
Ram (Debtor) |
Debit |
Assets |
Personal Account |
Answer:
Name of Accounts |
Consequence of decrease |
Modern Approach |
Traditional Approach |
|
(i) |
Cash |
Credit |
Assets |
Real Account |
(ii) |
Bank Overdraft |
Debit |
Liability |
Personal Account |
(iii) |
Outstanding Salary Paid |
Debit |
Liability |
Personal Account |
(iv) |
Outstanding Rent |
Debit |
Liability |
Personal Account |
(v) |
Prepaid Insurance |
Credit |
Asset |
Personal Account |
(vi) |
Mohan, proprietor of the business |
Debit |
Capital |
Real Account |
Page No 7.48:
Question 5:
Name of Accounts |
Consequence of decrease |
Modern Approach |
Traditional Approach |
|
(i) |
Cash |
Credit |
Assets |
Real Account |
(ii) |
Bank Overdraft |
Debit |
Liability |
Personal Account |
(iii) |
Outstanding Salary Paid |
Debit |
Liability |
Personal Account |
(iv) |
Outstanding Rent |
Debit |
Liability |
Personal Account |
(v) |
Prepaid Insurance |
Credit |
Asset |
Personal Account |
(vi) |
Mohan, proprietor of the business |
Debit |
Capital |
Real Account |
Answer:
Account Name |
Account Type |
|
(i) |
Drawings |
Personal |
(ii) |
Cash |
Real |
(iii) |
Outstanding Salaries |
Personal |
(iv) |
Prepaid Insurance Premium |
Personal |
(v) |
Depreciation |
Nominal |
(vi) |
Loan |
Personal |
(vii) |
Capital |
Personal |
Page No 7.48:
Question 6:
Account Name |
Account Type |
|
(i) |
Drawings |
Personal |
(ii) |
Cash |
Real |
(iii) |
Outstanding Salaries |
Personal |
(iv) |
Prepaid Insurance Premium |
Personal |
(v) |
Depreciation |
Nominal |
(vi) |
Loan |
Personal |
(vii) |
Capital |
Personal |
Answer:
Account Name |
Account Type |
|
(i) |
Stock |
Real |
(ii) |
Loan |
Personal |
(iii) |
Bank Loan |
Personal |
(iv) |
Capital |
Personal |
(v) |
Drawings |
Personal |
(vi) |
Current Account of a Partner |
Personal |
(vii) |
Furniture |
Real |
(viii) |
Cash |
Real |
(ix) |
Bank |
Personal |
(x) |
Raja Ram (Purchaser) |
Personal |
Page No 7.49:
Question 7:
Account Name |
Account Type |
|
(i) |
Stock |
Real |
(ii) |
Loan |
Personal |
(iii) |
Bank Loan |
Personal |
(iv) |
Capital |
Personal |
(v) |
Drawings |
Personal |
(vi) |
Current Account of a Partner |
Personal |
(vii) |
Furniture |
Real |
(viii) |
Cash |
Real |
(ix) |
Bank |
Personal |
(x) |
Raja Ram (Purchaser) |
Personal |
Answer:
Account Name |
Account Type |
|
(i) |
Machinery |
Asset |
(ii) |
Bank |
Asset |
(iii) |
Sales |
Revenue |
(iv) |
Purchases |
Expense |
(v) |
Unsold Stock |
Asset |
(vi) |
Bank Overdraft |
Liability |
(vii) |
Ram (Customer ) |
Asset |
(viii) |
Cash |
Asset |
(ix) |
Interest Received |
Revenue |
(x) |
Mohan (Proprietor) |
Capital |
Page No 7.49:
Question 8:
Account Name |
Account Type |
|
(i) |
Machinery |
Asset |
(ii) |
Bank |
Asset |
(iii) |
Sales |
Revenue |
(iv) |
Purchases |
Expense |
(v) |
Unsold Stock |
Asset |
(vi) |
Bank Overdraft |
Liability |
(vii) |
Ram (Customer ) |
Asset |
(viii) |
Cash |
Asset |
(ix) |
Interest Received |
Revenue |
(x) |
Mohan (Proprietor) |
Capital |
Answer:
Item |
Account Type |
Reason |
|
(i) |
Salary |
Nominal |
Expenses |
(ii) |
Outstanding Salary |
Personal |
Payable |
(iii) |
Accrued Rent |
Personal |
Receivable |
(iv) |
Prepaid Rent |
Personal |
Payment in advance |
(v) |
Rent Received in Advance |
Personal |
Income Received in Advance |
(vi) |
Doubtful Debts |
Personal |
Doubtful Receivable |
Page No 7.49:
Question 9:
Item |
Account Type |
Reason |
|
(i) |
Salary |
Nominal |
Expenses |
(ii) |
Outstanding Salary |
Personal |
Payable |
(iii) |
Accrued Rent |
Personal |
Receivable |
(iv) |
Prepaid Rent |
Personal |
Payment in advance |
(v) |
Rent Received in Advance |
Personal |
Income Received in Advance |
(vi) |
Doubtful Debts |
Personal |
Doubtful Receivable |
Answer:
S. No. |
Name of Account |
Balance |
Reason |
(i) |
Carriage |
Debit |
Expenses |
(ii) |
Machinery |
Debit |
Asset |
(iii) |
Sales |
Credit |
Revenue |
(iv) |
Cash |
Debit |
Asset |
(v) |
Ram (Customer) |
Debit |
Debtor |
(vi) |
Sale Return |
Debit |
Decreases in Revenue |
(vii) |
Purchases |
Debit |
Expense |
(viii) |
Bad Debts |
Debit |
Loss |
(ix) |
Discount Allowed |
Debit |
Loss |
(x) |
Rent |
Debit |
Expense |
(xi) |
Commission Received |
Credit |
Income |
(xii) |
Capital |
Credit |
Proprietor’s Liability |
(xiii) |
Repairs |
Debit |
To the Firm |
(xiv) |
Purchases Return |
Credit |
Decrease in Purchases |
Page No 7.49:
Question 10:
S. No. |
Name of Account |
Balance |
Reason |
(i) |
Carriage |
Debit |
Expenses |
(ii) |
Machinery |
Debit |
Asset |
(iii) |
Sales |
Credit |
Revenue |
(iv) |
Cash |
Debit |
Asset |
(v) |
Ram (Customer) |
Debit |
Debtor |
(vi) |
Sale Return |
Debit |
Decreases in Revenue |
(vii) |
Purchases |
Debit |
Expense |
(viii) |
Bad Debts |
Debit |
Loss |
(ix) |
Discount Allowed |
Debit |
Loss |
(x) |
Rent |
Debit |
Expense |
(xi) |
Commission Received |
Credit |
Income |
(xii) |
Capital |
Credit |
Proprietor’s Liability |
(xiii) |
Repairs |
Debit |
To the Firm |
(xiv) |
Purchases Return |
Credit |
Decrease in Purchases |
Answer:
S. No. |
Transaction |
Accounts Involved |
Nature of Account |
Reasons for Debit and Credit |
Amount |
|
Debit (Rs) |
Credit (Rs) |
|||||
(i) |
Gaurav started business with Cash |
Cash |
Real |
Cash is Coming in. |
1,00,000 |
|
Capital |
Personal |
Gaurav is the Giver of Cash. |
|
1,00,000 |
||
(ii) |
He purchased furniture for business |
Furniture |
Real |
Furniture is coming in. |
20,000 |
|
Cash |
Real |
Cash is going out. |
|
20,000 |
||
(iii) |
Purchased good of on credit form Anshul |
Purchases |
Real |
Goods are coming in. |
6,000 |
|
Anshul |
Given |
Anshul is giver of the goods. |
|
6,000 |
||
(iv) |
Paid to his Creditor, Anshul |
Anshul |
Personal |
Anshul is Receiver. |
2,000 |
|
Cash |
Real |
Cash is going out. |
|
2,000 |
||
(v) |
Paid salary to clerk |
Salary |
Nominal |
Expenses |
1,000 |
|
Cash |
Real |
Cash is going out. |
|
1,000 |
||
(vi) |
Paid Rent |
Rent |
Nominal |
Expenses |
500 |
|
Cash |
Real |
Cash is going out. |
|
500 |
||
(vii) |
Received Interest |
Cash |
Real |
Cash is coming in. |
200 |
|
Interest |
Nominal |
Incomes |
|
200 |
Page No 7.49:
Question 11:
S. No. |
Transaction |
Accounts Involved |
Nature of Account |
Reasons for Debit and Credit |
Amount |
|
Debit (Rs) |
Credit (Rs) |
|||||
(i) |
Gaurav started business with Cash |
Cash |
Real |
Cash is Coming in. |
1,00,000 |
|
Capital |
Personal |
Gaurav is the Giver of Cash. |
|
1,00,000 |
||
(ii) |
He purchased furniture for business |
Furniture |
Real |
Furniture is coming in. |
20,000 |
|
Cash |
Real |
Cash is going out. |
|
20,000 |
||
(iii) |
Purchased good of on credit form Anshul |
Purchases |
Real |
Goods are coming in. |
6,000 |
|
Anshul |
Given |
Anshul is giver of the goods. |
|
6,000 |
||
(iv) |
Paid to his Creditor, Anshul |
Anshul |
Personal |
Anshul is Receiver. |
2,000 |
|
Cash |
Real |
Cash is going out. |
|
2,000 |
||
(v) |
Paid salary to clerk |
Salary |
Nominal |
Expenses |
1,000 |
|
Cash |
Real |
Cash is going out. |
|
1,000 |
||
(vi) |
Paid Rent |
Rent |
Nominal |
Expenses |
500 |
|
Cash |
Real |
Cash is going out. |
|
500 |
||
(vii) |
Received Interest |
Cash |
Real |
Cash is coming in. |
200 |
|
Interest |
Nominal |
Incomes |
|
200 |
Answer:
S. No. |
Transaction |
Accounts Involved |
Nature of Account |
Reasons for Debit and Credit |
Amount |
|
Debit (Rs) |
Credit (Rs) |
|||||
(i) |
Lal started business with cash |
Cash |
Real |
Cash is Coming in. |
3,00,000 |
|
Capital |
Personal |
Lal is the giver of the cash. |
|
3,00,000 |
||
(ii) |
Purchased Furniture from Shanti Furniture House for Cash |
Furniture |
Real |
Furniture is coming in. |
75,000 |
|
Cash |
Real |
Cash is going out. |
|
75,000 |
||
(iii) |
Purchased good for cash |
Purchases |
Nominal |
Expenses |
55,000 |
|
Cash |
Real |
Cash is going out |
|
55,000 |
||
(iv) |
Sold Goods for Cash to Pal |
Cash |
Real |
Cash is coming in |
35,000 |
|
Sales |
Nominal |
Revenue |
|
35,000 |
||
(v) |
Sold goods to Om on Credit |
Om |
Personal |
Receiver of goods |
60,000 |
|
Sales |
Nominal |
Revenue |
|
60,000 |
||
(vi) |
Deposited Cash in Bank |
Bank |
Personal |
Bank is receiver |
70,000 |
|
Cash |
Real |
Cash is the going out |
|
70,000 |
||
(vii) |
Received a cheque from Om |
Cash |
Real |
Cash is coming in |
20,000 |
|
Om |
Personal |
Om is giver |
|
20,000 |
||
(viii) |
Deposited Om’s cheque on next day |
Bank |
Personal |
Bank is the receiver |
20,000 |
|
Cash |
Real |
Cash is going out |
|
20,000 |
||
(ix) |
Borrowed from Sohan |
Cash |
Real |
Cash is coming in |
1,00,000 |
|
Sohan |
Personal |
Sohan is the giver |
|
1,00,00 |
||
(x) |
Purchased furniture from Haryana Safe |
Furniture |
Real |
Furniture is coming in |
50,000 |
|
Haryana Safe |
Personal |
Haryana Safe is the giver |
|
50,000 |
||
(xi) |
Paid interest on loan |
Interest |
Nominal |
Expense |
10,000 |
|
Cash |
Real |
Cash is going out |
|
10,000 |
||
(xii) |
Paid rent by Cheque |
Rent |
Nominal |
Expense |
4,000 |
|
Bank |
Personal |
Bank is the giver |
|
4,000 |
||
(xiii) |
Paid salary to staff |
Salary |
Nominal |
Expense |
14,000 |
|
Cash |
Real |
Cash is going out |
|
14,000 |
||
(xiv) |
Withdrew Cash for Personal use |
Drawings |
Personal |
Proprietor is the receiver |
5,000 |
|
Cash |
Real |
Cash is going out |
|
5,000 |
Page No 7.50:
Question 12:
S. No. |
Transaction |
Accounts Involved |
Nature of Account |
Reasons for Debit and Credit |
Amount |
|
Debit (Rs) |
Credit (Rs) |
|||||
(i) |
Lal started business with cash |
Cash |
Real |
Cash is Coming in. |
3,00,000 |
|
Capital |
Personal |
Lal is the giver of the cash. |
|
3,00,000 |
||
(ii) |
Purchased Furniture from Shanti Furniture House for Cash |
Furniture |
Real |
Furniture is coming in. |
75,000 |
|
Cash |
Real |
Cash is going out. |
|
75,000 |
||
(iii) |
Purchased good for cash |
Purchases |
Nominal |
Expenses |
55,000 |
|
Cash |
Real |
Cash is going out |
|
55,000 |
||
(iv) |
Sold Goods for Cash to Pal |
Cash |
Real |
Cash is coming in |
35,000 |
|
Sales |
Nominal |
Revenue |
|
35,000 |
||
(v) |
Sold goods to Om on Credit |
Om |
Personal |
Receiver of goods |
60,000 |
|
Sales |
Nominal |
Revenue |
|
60,000 |
||
(vi) |
Deposited Cash in Bank |
Bank |
Personal |
Bank is receiver |
70,000 |
|
Cash |
Real |
Cash is the going out |
|
70,000 |
||
(vii) |
Received a cheque from Om |
Cash |
Real |
Cash is coming in |
20,000 |
|
Om |
Personal |
Om is giver |
|
20,000 |
||
(viii) |
Deposited Om’s cheque on next day |
Bank |
Personal |
Bank is the receiver |
20,000 |
|
Cash |
Real |
Cash is going out |
|
20,000 |
||
(ix) |
Borrowed from Sohan |
Cash |
Real |
Cash is coming in |
1,00,000 |
|
Sohan |
Personal |
Sohan is the giver |
|
1,00,00 |
||
(x) |
Purchased furniture from Haryana Safe |
Furniture |
Real |
Furniture is coming in |
50,000 |
|
Haryana Safe |
Personal |
Haryana Safe is the giver |
|
50,000 |
||
(xi) |
Paid interest on loan |
Interest |
Nominal |
Expense |
10,000 |
|
Cash |
Real |
Cash is going out |
|
10,000 |
||
(xii) |
Paid rent by Cheque |
Rent |
Nominal |
Expense |
4,000 |
|
Bank |
Personal |
Bank is the giver |
|
4,000 |
||
(xiii) |
Paid salary to staff |
Salary |
Nominal |
Expense |
14,000 |
|
Cash |
Real |
Cash is going out |
|
14,000 |
||
(xiv) |
Withdrew Cash for Personal use |
Drawings |
Personal |
Proprietor is the receiver |
5,000 |
|
Cash |
Real |
Cash is going out |
|
5,000 |
Answer:
Journal |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
2016 |
|
|
|
|
|
June 03 |
Cash A/c |
Dr. |
|
5,000 |
|
|
To Ram |
|
|
5,000 |
|
|
(Cash received from Ram) |
|
|
|
|
|
|
|
|
|
|
June 04 |
Purchases A/c |
Dr. |
|
1,500 |
|
|
To Cash A/c |
|
|
1,500 |
|
|
(Purchased goods for Cash) |
|
|
|
|
|
|
|
|
|
|
June 11 |
Hari |
Dr. |
|
1,200 |
|
|
To Sales A/c |
|
|
1,200 |
|
|
(Sold goods to Hari ) |
|
|
|
|
|
|
|
|
|
|
June 13 |
Ramavtar |
Dr. |
|
400 |
|
|
To Cash |
|
|
400 |
|
|
(Paid Ramavtar) |
|
|
|
|
|
|
|
|
|
|
June 17 |
Cash A/c |
Dr. |
|
100 |
|
|
To Hari |
|
|
100 |
|
|
(Received from Hari) |
|
|
|
|
|
|
|
|
|
|
June 20 |
Furniture A/c |
Dr. |
|
200 |
|
|
To Ram |
|
|
200 |
|
|
(Bought Furniture from Ram ) |
|
|
|
|
|
|
|
|
|
|
June 27 |
Rent A/c |
Dr. |
|
280 |
|
|
To Cash A/c |
|
|
280 |
|
|
(Paid Rent ) |
|
|
|
|
|
|
|
|
|
|
June 30 |
Salary A/c |
Dr. |
|
500 |
|
|
To Cash A/c |
|
|
500 |
|
|
(Paid Salary) |
|
|
|
|
|
|
|
|
|
Page No 7.50:
Question 13:
Journal |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
2016 |
|
|
|
|
|
June 03 |
Cash A/c |
Dr. |
|
5,000 |
|
|
To Ram |
|
|
5,000 |
|
|
(Cash received from Ram) |
|
|
|
|
|
|
|
|
|
|
June 04 |
Purchases A/c |
Dr. |
|
1,500 |
|
|
To Cash A/c |
|
|
1,500 |
|
|
(Purchased goods for Cash) |
|
|
|
|
|
|
|
|
|
|
June 11 |
Hari |
Dr. |
|
1,200 |
|
|
To Sales A/c |
|
|
1,200 |
|
|
(Sold goods to Hari ) |
|
|
|
|
|
|
|
|
|
|
June 13 |
Ramavtar |
Dr. |
|
400 |
|
|
To Cash |
|
|
400 |
|
|
(Paid Ramavtar) |
|
|
|
|
|
|
|
|
|
|
June 17 |
Cash A/c |
Dr. |
|
100 |
|
|
To Hari |
|
|
100 |
|
|
(Received from Hari) |
|
|
|
|
|
|
|
|
|
|
June 20 |
Furniture A/c |
Dr. |
|
200 |
|
|
To Ram |
|
|
200 |
|
|
(Bought Furniture from Ram ) |
|
|
|
|
|
|
|
|
|
|
June 27 |
Rent A/c |
Dr. |
|
280 |
|
|
To Cash A/c |
|
|
280 |
|
|
(Paid Rent ) |
|
|
|
|
|
|
|
|
|
|
June 30 |
Salary A/c |
Dr. |
|
500 |
|
|
To Cash A/c |
|
|
500 |
|
|
(Paid Salary) |
|
|
|
|
|
|
|
|
|
Answer:
Journal In the Books of Mr. Rakesh |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
2016 |
|
|
|
|
|
Jan. 01 |
Cash A/c |
Dr. |
|
50,000 |
|
|
To Capital A/c |
|
|
50,000 |
|
|
(Business started with capital) |
|
|
|
|
|
|
|
|
|
|
Jan. 02 |
Purchases A/c |
Dr. |
|
10,000 |
|
|
To Cash A/c |
|
|
10,000 |
|
|
(Goods purchased for cash) |
|
|
|
|
|
|
|
|
|
|
Jan. 05 |
Purchases A/c |
Dr. |
|
6,000 |
|
|
To Mohan’s A/c |
|
|
6,000 |
|
|
(Goods purchased on credit from Mohan) |
|
|
|
|
|
|
|
|
|
|
Jan. 07 |
Bank A/c |
Dr. |
|
5,000 |
|
|
To Cash A/c |
|
|
5,000 |
|
|
(Cash deposited into the bank) |
|
|
|
|
|
|
|
|
|
|
Jan. 10 |
Furniture A/c |
Dr. |
|
2,000 |
|
|
To Cash A/c |
|
|
2,000 |
|
|
(Purchased furniture for cash) |
|
|
|
|
|
|
|
|
|
|
Jan. 15 |
Cash A/c |
Dr. |
|
7,000 |
|
|
To Sales A/c |
|
|
7,000 |
|
|
(Sold goods for cash) |
|
|
|
|
|
|
|
|
|
|
Jan. 20 |
Ram’s A/c |
Dr. |
|
5,000 |
|
|
To Sales A/c |
|
|
5,000 |
|
|
(Sold goods on credit to Ram) |
|
|
|
|
|
|
|
|
|
|
Jan. 25 |
Cash A/c |
Dr. |
|
3,500 |
|
|
To Sales A/c |
|
|
3,500 |
|
|
(Sold goods for cash) |
|
|
|
|
|
|
|
|
|
|
Jan. 27 |
Mohan’s A/c |
Dr. |
|
3,000 |
|
|
To Cash A/c |
|
|
3,000 |
|
|
(Paid cash to Mohan against credit purchases) |
|
|
|
|
|
|
|
|
|
|
Jan. 28 |
Sales Return A/c |
Dr. |
|
500 |
|
|
To Ram’s A/c |
|
|
500 |
|
|
(Goods returned to Ram) |
|
|
|
|
|
|
|
|
|
|
Jan. 30 |
Rent A/c |
Dr. |
|
1,200 |
|
|
To Cash A/c |
|
|
1,200 |
|
|
(Rent paid through cash) |
|
|
|
|
|
|
|
|
|
|
Jan. 31 |
Salaries A/c |
Dr. |
|
2,800 |
|
|
To Cash A/c |
|
|
2,800 |
|
|
(Salaries paid to employees through cash) |
|
|
|
|
|
|
|
|
|
|
Jan. 31 |
Mohan’s A/c (6,000 × 10%) |
Dr. |
|
600 |
|
|
To Purchases Return A/c |
|
|
600 |
|
|
(10% of goods rejected and returned to Mohan) |
|
|
|
|
|
|
|
|
|
Page No 7.50:
Question 14:
Journal In the Books of Mr. Rakesh |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
2016 |
|
|
|
|
|
Jan. 01 |
Cash A/c |
Dr. |
|
50,000 |
|
|
To Capital A/c |
|
|
50,000 |
|
|
(Business started with capital) |
|
|
|
|
|
|
|
|
|
|
Jan. 02 |
Purchases A/c |
Dr. |
|
10,000 |
|
|
To Cash A/c |
|
|
10,000 |
|
|
(Goods purchased for cash) |
|
|
|
|
|
|
|
|
|
|
Jan. 05 |
Purchases A/c |
Dr. |
|
6,000 |
|
|
To Mohan’s A/c |
|
|
6,000 |
|
|
(Goods purchased on credit from Mohan) |
|
|
|
|
|
|
|
|
|
|
Jan. 07 |
Bank A/c |
Dr. |
|
5,000 |
|
|
To Cash A/c |
|
|
5,000 |
|
|
(Cash deposited into the bank) |
|
|
|
|
|
|
|
|
|
|
Jan. 10 |
Furniture A/c |
Dr. |
|
2,000 |
|
|
To Cash A/c |
|
|
2,000 |
|
|
(Purchased furniture for cash) |
|
|
|
|
|
|
|
|
|
|
Jan. 15 |
Cash A/c |
Dr. |
|
7,000 |
|
|
To Sales A/c |
|
|
7,000 |
|
|
(Sold goods for cash) |
|
|
|
|
|
|
|
|
|
|
Jan. 20 |
Ram’s A/c |
Dr. |
|
5,000 |
|
|
To Sales A/c |
|
|
5,000 |
|
|
(Sold goods on credit to Ram) |
|
|
|
|
|
|
|
|
|
|
Jan. 25 |
Cash A/c |
Dr. |
|
3,500 |
|
|
To Sales A/c |
|
|
3,500 |
|
|
(Sold goods for cash) |
|
|
|
|
|
|
|
|
|
|
Jan. 27 |
Mohan’s A/c |
Dr. |
|
3,000 |
|
|
To Cash A/c |
|
|
3,000 |
|
|
(Paid cash to Mohan against credit purchases) |
|
|
|
|
|
|
|
|
|
|
Jan. 28 |
Sales Return A/c |
Dr. |
|
500 |
|
|
To Ram’s A/c |
|
|
500 |
|
|
(Goods returned to Ram) |
|
|
|
|
|
|
|
|
|
|
Jan. 30 |
Rent A/c |
Dr. |
|
1,200 |
|
|
To Cash A/c |
|
|
1,200 |
|
|
(Rent paid through cash) |
|
|
|
|
|
|
|
|
|
|
Jan. 31 |
Salaries A/c |
Dr. |
|
2,800 |
|
|
To Cash A/c |
|
|
2,800 |
|
|
(Salaries paid to employees through cash) |
|
|
|
|
|
|
|
|
|
|
Jan. 31 |
Mohan’s A/c (6,000 × 10%) |
Dr. |
|
600 |
|
|
To Purchases Return A/c |
|
|
600 |
|
|
(10% of goods rejected and returned to Mohan) |
|
|
|
|
|
|
|
|
|
Answer:
Journal |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
2016 |
|
|
|
|
|
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) |
|
|
|
|
|
|
|
|
|
Page No 7.50:
Question 15:
Journal |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
2016 |
|
|
|
|
|
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) |
|
|
|
|
|
|
|
|
|
Answer:
Books of Ramesh Journal |
|||||
Date |
Particulars |
L.F |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
2016 |
|
|
|
|
|
April 01 |
Cash A/c |
Dr. |
|
10,000 |
|
|
To Capital A/c |
|
|
10,000 |
|
|
(Ramesh started business with Cash ) |
|
|
|
|
|
|
|
|
|
|
April 02 |
Bank A/c |
Dr. |
|
7,000 |
|
|
To Cash A/c |
|
|
7,000 |
|
|
(Cash paid into Bank) |
|
|
|
|
|
|
|
|
|
|
April 03 |
Purchases A/c |
Dr. |
|
500 |
|
|
To Cash A/c |
|
|
500 |
|
|
(Purchased goods for Cash ) |
|
|
|
|
|
|
|
|
|
|
April 04 |
Cash A/c |
Dr. |
|
100 |
|
|
To Bank A/c |
|
|
100 |
|
|
(Drew Cash from Bank for office use) |
|
|
|
|
|
|
|
|
|
|
April 13 |
Krishna |
Dr. |
|
150 |
|
|
To Sales A/c |
|
|
150 |
|
|
(Sold goods to Krishna on credit) |
|
|
|
|
|
|
|
|
|
|
April 20 |
Purchases A/c |
Dr. |
|
225 |
|
|
To Shyam A/c |
|
|
225 |
|
|
(Bought goods from Shyam on credit) |
|
|
|
|
|
|
|
|
|
|
April 24 |
Cash A/c |
Dr. |
|
145 |
|
|
Discount Allowed A/c |
Dr. |
|
5 |
|
|
To Krishna |
|
|
150 |
|
|
(received can from Krishna and discount allow) |
|
|
|
|
|
|
|
|
|
|
April 28 |
Shyam |
Dr. |
|
225 |
|
|
To Cash |
|
|
215 |
|
|
To Discount Received |
|
|
10 |
|
|
(Paid to Shyam and discount Received) |
|
|
|
|
|
|
|
|
|
|
April 30 |
Cash A/c |
Dr. |
|
800 |
|
|
To Sales A/c |
|
|
800 |
|
|
(Sold goods for cash) |
|
|
|
|
|
|
|
|
|
|
April 30 |
Rent A/c |
Dr. |
|
50 |
|
|
Salary A/c |
Dr. |
|
100 |
|
|
To Cash A/c |
|
|
150 |
|
|
(Rent and salary were paid) |
|
|
|
Page No 7.51:
Question 16:
Books of Ramesh Journal |
|||||
Date |
Particulars |
L.F |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
2016 |
|
|
|
|
|
April 01 |
Cash A/c |
Dr. |
|
10,000 |
|
|
To Capital A/c |
|
|
10,000 |
|
|
(Ramesh started business with Cash ) |
|
|
|
|
|
|
|
|
|
|
April 02 |
Bank A/c |
Dr. |
|
7,000 |
|
|
To Cash A/c |
|
|
7,000 |
|
|
(Cash paid into Bank) |
|
|
|
|
|
|
|
|
|
|
April 03 |
Purchases A/c |
Dr. |
|
500 |
|
|
To Cash A/c |
|
|
500 |
|
|
(Purchased goods for Cash ) |
|
|
|
|
|
|
|
|
|
|
April 04 |
Cash A/c |
Dr. |
|
100 |
|
|
To Bank A/c |
|
|
100 |
|
|
(Drew Cash from Bank for office use) |
|
|
|
|
|
|
|
|
|
|
April 13 |
Krishna |
Dr. |
|
150 |
|
|
To Sales A/c |
|
|
150 |
|
|
(Sold goods to Krishna on credit) |
|
|
|
|
|
|
|
|
|
|
April 20 |
Purchases A/c |
Dr. |
|
225 |
|
|
To Shyam A/c |
|
|
225 |
|
|
(Bought goods from Shyam on credit) |
|
|
|
|
|
|
|
|
|
|
April 24 |
Cash A/c |
Dr. |
|
145 |
|
|
Discount Allowed A/c |
Dr. |
|
5 |
|
|
To Krishna |
|
|
150 |
|
|
(received can from Krishna and discount allow) |
|
|
|
|
|
|
|
|
|
|
April 28 |
Shyam |
Dr. |
|
225 |
|
|
To Cash |
|
|
215 |
|
|
To Discount Received |
|
|
10 |
|
|
(Paid to Shyam and discount Received) |
|
|
|
|
|
|
|
|
|
|
April 30 |
Cash A/c |
Dr. |
|
800 |
|
|
To Sales A/c |
|
|
800 |
|
|
(Sold goods for cash) |
|
|
|
|
|
|
|
|
|
|
April 30 |
Rent A/c |
Dr. |
|
50 |
|
|
Salary A/c |
Dr. |
|
100 |
|
|
To Cash A/c |
|
|
150 |
|
|
(Rent and salary were paid) |
|
|
|
Answer:
Books of Satish Journal |
|||||
Date |
Particulars |
L.F |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
2016 |
|
|
|
|
|
Jan.01 |
Cash A/c |
Dr. |
|
10,000 |
|
|
To Capital A/c |
|
|
10,000 |
|
|
(Rahul started business with Cash ) |
|
|
|
|
|
|
|
|
|
|
Jan.02 |
Bank A/c |
Dr. |
|
6,000 |
|
|
To Cash A/c |
|
|
6,000 |
|
|
(Paid into Bank) |
|
|
|
|
|
|
|
|
|
|
Jan.03 |
Purchases A/c |
Dr. |
|
2,000 |
|
|
To M/s. S. Singh of Co |
|
|
2,000 |
|
|
(Purchased goods from M/s S. Singh & Co) |
|
|
|
|
|
|
|
|
|
|
Jan.04 |
Furniture A/c |
Dr. |
|
200 |
|
|
Adding Machine A/c |
Dr. |
|
800 |
|
|
Typewriter A/c |
Dr. |
|
600 |
|
|
To Bank A/c |
|
|
1,600 |
|
|
(Purchase Furniture, Adding Machine and Typewriter through cheque) |
|
|
|
|
|
|
|
|
|
|
Jan.06 |
Postage A/c |
Dr. |
|
15 |
|
|
To Cash |
|
|
15 |
|
|
(Paid for postage) |
|
|
|
|
|
|
|
|
|
|
Jan.08 |
Cash A/c |
Dr. |
|
400 |
|
|
To Sales A/c |
|
|
400 |
|
|
(Sold goods for Cash) |
|
|
|
|
|
|
|
|
|
|
Jan.09 |
M/s S. Sharda & Co. |
Dr. |
|
1,000 |
|
|
To Sales A/c |
|
|
1,000 |
|
|
(Sold goods to M/s. S. Sharda & Co) |
|
|
|
|
|
|
|
|
|
|
Jan.15 |
M/s S. Singh & Co. |
Dr. |
|
2,000 |
|
|
To Cash A/c |
|
|
1,950 |
|
|
To Discount Received |
|
|
50 |
|
|
(Paid to M/s. S. Singh & Co and discount received) |
|
|
|
|
|
|
|
|
|
|
Jan.25 |
M/s. Ray & Co. |
Dr. |
|
560 |
|
|
To Sales A/c |
|
|
560 |
|
|
(Sold goods to M/s. Ray & Co) |
|
|
|
|
|
|
|
|
|
|
Jan.27 |
Bank A/c |
Dr. |
|
975 |
|
|
Discount Allowed A/c |
Dr. |
|
25 |
|
|
To M/s. S. Sharda & Co |
|
|
1,000 |
|
|
(Cash received from M/s. Sharda & Co. and discount allowed ) |
|
|
|
|
|
|
|
|
|
|
Jan.31 |
Electricity Charges A/c |
Dr. |
|
10 |
|
|
Salary A/c |
Dr. |
|
150 |
|
|
To Cash A/c |
|
|
160 |
|
|
(Paid electricity charges and salary) |
|
|
|
|
|
|
|
|
|
|
Jan.31 |
Rent A/c |
Dr. |
|
250 |
|
|
Drawings A/c |
Dr. |
|
250 |
|
|
To Bank A/c |
|
|
500 |
|
|
(Paid rent half of which related to personal use) |
|
|
|
|
|
|
|
|
|
|
|
Drawings A/c |
Dr. |
|
350 |
|
|
To Cash A/c |
|
|
350 |
|
|
(Drew for private use) |
|
|
|
|
|
|
|
|
|
Page No 7.51:
Question 17:
Books of Satish Journal |
|||||
Date |
Particulars |
L.F |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
2016 |
|
|
|
|
|
Jan.01 |
Cash A/c |
Dr. |
|
10,000 |
|
|
To Capital A/c |
|
|
10,000 |
|
|
(Rahul started business with Cash ) |
|
|
|
|
|
|
|
|
|
|
Jan.02 |
Bank A/c |
Dr. |
|
6,000 |
|
|
To Cash A/c |
|
|
6,000 |
|
|
(Paid into Bank) |
|
|
|
|
|
|
|
|
|
|
Jan.03 |
Purchases A/c |
Dr. |
|
2,000 |
|
|
To M/s. S. Singh of Co |
|
|
2,000 |
|
|
(Purchased goods from M/s S. Singh & Co) |
|
|
|
|
|
|
|
|
|
|
Jan.04 |
Furniture A/c |
Dr. |
|
200 |
|
|
Adding Machine A/c |
Dr. |
|
800 |
|
|
Typewriter A/c |
Dr. |
|
600 |
|
|
To Bank A/c |
|
|
1,600 |
|
|
(Purchase Furniture, Adding Machine and Typewriter through cheque) |
|
|
|
|
|
|
|
|
|
|
Jan.06 |
Postage A/c |
Dr. |
|
15 |
|
|
To Cash |
|
|
15 |
|
|
(Paid for postage) |
|
|
|
|
|
|
|
|
|
|
Jan.08 |
Cash A/c |
Dr. |
|
400 |
|
|
To Sales A/c |
|
|
400 |
|
|
(Sold goods for Cash) |
|
|
|
|
|
|
|
|
|
|
Jan.09 |
M/s S. Sharda & Co. |
Dr. |
|
1,000 |
|
|
To Sales A/c |
|
|
1,000 |
|
|
(Sold goods to M/s. S. Sharda & Co) |
|
|
|
|
|
|
|
|
|
|
Jan.15 |
M/s S. Singh & Co. |
Dr. |
|
2,000 |
|
|
To Cash A/c |
|
|
1,950 |
|
|
To Discount Received |
|
|
50 |
|
|
(Paid to M/s. S. Singh & Co and discount received) |
|
|
|
|
|
|
|
|
|
|
Jan.25 |
M/s. Ray & Co. |
Dr. |
|
560 |
|
|
To Sales A/c |
|
|
560 |
|
|
(Sold goods to M/s. Ray & Co) |
|
|
|
|
|
|
|
|
|
|
Jan.27 |
Bank A/c |
Dr. |
|
975 |
|
|
Discount Allowed A/c |
Dr. |
|
25 |
|
|
To M/s. S. Sharda & Co |
|
|
1,000 |
|
|
(Cash received from M/s. Sharda & Co. and discount allowed ) |
|
|
|
|
|
|
|
|
|
|
Jan.31 |
Electricity Charges A/c |
Dr. |
|
10 |
|
|
Salary A/c |
Dr. |
|
150 |
|
|
To Cash A/c |
|
|
160 |
|
|
(Paid electricity charges and salary) |
|
|
|
|
|
|
|
|
|
|
Jan.31 |
Rent A/c |
Dr. |
|
250 |
|
|
Drawings A/c |
Dr. |
|
250 |
|
|
To Bank A/c |
|
|
500 |
|
|
(Paid rent half of which related to personal use) |
|
|
|
|
|
|
|
|
|
|
|
Drawings A/c |
Dr. |
|
350 |
|
|
To Cash A/c |
|
|
350 |
|
|
(Drew for private use) |
|
|
|
|
|
|
|
|
|
Answer:
Books of R. Singh & Co |
|||||
Journal |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
2016 |
|
|
|
|
|
July 01 |
Cash A/c |
Dr. |
|
8,000 |
|
|
To Capital A/c |
|
|
8,000 |
|
|
(Started business with cash) |
|
|
|
|
|
|
|
|
|
|
July 01 |
Bank A/c |
Dr. |
|
5,000 |
|
|
To Cash A/c |
|
|
5,000 |
|
|
(Cash paid into bank ) |
|
|
|
|
|
|
|
|
|
|
July 01 |
Stationery A/c |
Dr. |
|
30 |
|
|
To Cash A/c |
|
|
30 |
|
|
(Purchased stationery for Cash) |
|
|
|
|
|
|
|
|
|
|
July 02 |
Purchases A/c |
Dr. |
|
2,100 |
|
|
To Cash A/c |
|
|
2,100 |
|
|
(Bought goods for Cash) |
|
|
|
|
|
|
|
|
|
|
July 03 |
Postage Stamps A/c |
Dr. |
|
10 |
|
|
To Cash A/c |
|
|
10 |
|
|
(Bought postage Stamps) |
|
|
|
|
|
|
|
|
|
|
July 05 |
Cash A/c |
Dr. |
|
750 |
|
|
To Sales A/c |
|
|
750 |
|
|
(Sold Goods for Cash) |
|
|
|
|
|
|
|
|
|
|
July 06 |
Furniture A/c |
Dr. |
|
500 |
|
|
To Bannerjee Bros. |
|
|
500 |
|
|
(Bought office furniture from Bannerjee Bros.) |
|
|
|
|
|
|
|
|
|
|
July 11 |
Mahendra |
Dr. |
|
1,000 |
|
|
To Sales A/c |
|
|
1,000 |
|
|
(Good Sold to Mahendra) |
|
|
|
|
|
|
|
|
|
|
July 12 |
Bank A/c |
Dr. |
|
1,000 |
|
|
To Mahendra |
|
|
1,000 |
|
|
(Received cheque from Mahendra) |
|
|
|
|
|
|
|
|
|
|
July 14 |
Bannerjee Bros. |
Dr. |
|
500 |
|
|
To Bank A/c |
|
|
500 |
|
|
(Paid to Bannerjee Bros by cheque) |
|
|
|
|
|
|
|
|
|
|
July 16 |
Ramesh & Co |
Dr. |
|
500 |
|
|
To Sales A/c |
|
|
500 |
|
|
(Sold goods to Ramesh & co) |
|
|
|
|
|
|
|
|
|
|
July 20 |
Purchases A/c |
Dr. |
|
700 |
|
|
To S. Seth & Bros. |
|
|
700 |
|
|
(Bought goods from S. Seth & Bros) |
|
|
|
|
|
|
|
|
|
|
July 23 |
Purchases A/c |
Dr. |
|
225 |
|
|
To Cash A/c |
|
|
225 |
|
|
(Purchases of goods in cash from S. Narain & Co.) |
|
|
|
|
|
|
|
|
|
|
July 24 |
P. Prakash |
Dr. |
|
350 |
|
|
To Sales A/c |
|
|
350 |
|
|
( Sold goods to P. Parkash) |
|
|
|
|
|
|
|
|
|
|
July 26 |
Cash A/c |
Dr. |
|
250 |
|
|
To Ramesh & Co |
|
|
250 |
|
|
(Cash received from Ramesh & Co) |
|
|
|
|
|
|
|
|
|
|
July 28 |
S. Seth & Bros |
Dr. |
|
700 |
|
|
To Bank A/c |
|
|
685 |
|
|
To Discount Received A/c |
|
|
15 |
|
|
(Paid to S. Seth & Bros. and discount received) |
|
|
|
|
|
|
|
|
|
|
July 31 |
Salaries A/c |
Dr. |
|
250 |
|
|
To Cash A/c |
|
|
250 |
|
|
(Paid Salaries) |
|
|
|
|
|
|
|
|
|
|
July 31 |
Rent A/c |
Dr. |
|
100 |
|
|
To Rent Outstanding A/c |
|
|
100 |
|
|
(Rent due to S. Sharma) |
|
|
|
|
|
|
|
|
|
Page No 7.52:
Question 18:
Books of R. Singh & Co |
|||||
Journal |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
2016 |
|
|
|
|
|
July 01 |
Cash A/c |
Dr. |
|
8,000 |
|
|
To Capital A/c |
|
|
8,000 |
|
|
(Started business with cash) |
|
|
|
|
|
|
|
|
|
|
July 01 |
Bank A/c |
Dr. |
|
5,000 |
|
|
To Cash A/c |
|
|
5,000 |
|
|
(Cash paid into bank ) |
|
|
|
|
|
|
|
|
|
|
July 01 |
Stationery A/c |
Dr. |
|
30 |
|
|
To Cash A/c |
|
|
30 |
|
|
(Purchased stationery for Cash) |
|
|
|
|
|
|
|
|
|
|
July 02 |
Purchases A/c |
Dr. |
|
2,100 |
|
|
To Cash A/c |
|
|
2,100 |
|
|
(Bought goods for Cash) |
|
|
|
|
|
|
|
|
|
|
July 03 |
Postage Stamps A/c |
Dr. |
|
10 |
|
|
To Cash A/c |
|
|
10 |
|
|
(Bought postage Stamps) |
|
|
|
|
|
|
|
|
|
|
July 05 |
Cash A/c |
Dr. |
|
750 |
|
|
To Sales A/c |
|
|
750 |
|
|
(Sold Goods for Cash) |
|
|
|
|
|
|
|
|
|
|
July 06 |
Furniture A/c |
Dr. |
|
500 |
|
|
To Bannerjee Bros. |
|
|
500 |
|
|
(Bought office furniture from Bannerjee Bros.) |
|
|
|
|
|
|
|
|
|
|
July 11 |
Mahendra |
Dr. |
|
1,000 |
|
|
To Sales A/c |
|
|
1,000 |
|
|
(Good Sold to Mahendra) |
|
|
|
|
|
|
|
|
|
|
July 12 |
Bank A/c |
Dr. |
|
1,000 |
|
|
To Mahendra |
|
|
1,000 |
|
|
(Received cheque from Mahendra) |
|
|
|
|
|
|
|
|
|
|
July 14 |
Bannerjee Bros. |
Dr. |
|
500 |
|
|
To Bank A/c |
|
|
500 |
|
|
(Paid to Bannerjee Bros by cheque) |
|
|
|
|
|
|
|
|
|
|
July 16 |
Ramesh & Co |
Dr. |
|
500 |
|
|
To Sales A/c |
|
|
500 |
|
|
(Sold goods to Ramesh & co) |
|
|
|
|
|
|
|
|
|
|
July 20 |
Purchases A/c |
Dr. |
|
700 |
|
|
To S. Seth & Bros. |
|
|
700 |
|
|
(Bought goods from S. Seth & Bros) |
|
|
|
|
|
|
|
|
|
|
July 23 |
Purchases A/c |
Dr. |
|
225 |
|
|
To Cash A/c |
|
|
225 |
|
|
(Purchases of goods in cash from S. Narain & Co.) |
|
|
|
|
|
|
|
|
|
|
July 24 |
P. Prakash |
Dr. |
|
350 |
|
|
To Sales A/c |
|
|
350 |
|
|
( Sold goods to P. Parkash) |
|
|
|
|
|
|
|
|
|
|
July 26 |
Cash A/c |
Dr. |
|
250 |
|
|
To Ramesh & Co |
|
|
250 |
|
|
(Cash received from Ramesh & Co) |
|
|
|
|
|
|
|
|
|
|
July 28 |
S. Seth & Bros |
Dr. |
|
700 |
|
|
To Bank A/c |
|
|
685 |
|
|
To Discount Received A/c |
|
|
15 |
|
|
(Paid to S. Seth & Bros. and discount received) |
|
|
|
|
|
|
|
|
|
|
July 31 |
Salaries A/c |
Dr. |
|
250 |
|
|
To Cash A/c |
|
|
250 |
|
|
(Paid Salaries) |
|
|
|
|
|
|
|
|
|
|
July 31 |
Rent A/c |
Dr. |
|
100 |
|
|
To Rent Outstanding A/c |
|
|
100 |
|
|
(Rent due to S. Sharma) |
|
|
|
|
|
|
|
|
|
Answer:
Books of Suresh Journal |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
2016 |
|
|
|
|
|
April 01 |
Bank A/c |
Dr. |
|
6,000 |
|
|
To Capital A/c |
|
|
6,000 |
|
|
(Paid into Bank as Capital) |
|
|
|
|
|
|
|
|
|
|
April 02 |
Purchases A/c |
Dr. |
|
2,400 |
|
|
To Bank A/c |
|
|
2,400 |
|
|
(Bought goods for cheque) |
|
|
|
|
|
|
|
|
|
|
April 03 |
Mukand & Co. |
Dr. |
|
670 |
|
|
To Sales A/c |
|
|
670 |
|
|
(Sold Goods to Mukand & Co.) |
|
|
|
|
|
|
|
|
|
|
April 04 |
Cash A/c |
Dr. |
|
1,090 |
|
|
To Sales A/c |
|
|
1,090 |
|
|
(Sold goods for Cash) |
|
|
|
|
|
|
|
|
|
|
April 05 |
Sundry Expenses A/c |
Dr. |
|
300 |
|
|
To Cash A/c |
|
|
300 |
|
|
(Paid Sundry Expenses) |
|
|
|
|
|
|
|
|
|
|
April 06 |
Bank A/c |
Dr. |
|
1,500 |
|
|
To Cash A/c |
|
|
1,500 |
|
|
(Send Cash to Bank) |
|
|
|
|
|
|
|
|
|
|
April 07 |
Bank A/c |
Dr. |
|
650 |
|
|
Discount Allowed A/c |
Dr. |
|
20 |
|
|
To Mukand & Co. |
|
|
670 |
|
|
(Received Cheque From Mukand & Co and discount allowed) |
|
|
|
|
|
|
|
|
|
|
April 08 |
Wages A/c |
Dr. |
|
100 |
|
|
To Cash |
|
|
100 |
|
|
(Paid wages in Cash) |
|
|
|
|
|
|
|
|
|
|
April 08 |
Furniture A/c |
Dr. |
|
400 |
|
|
To Bank A/c |
|
|
400 |
|
|
(Bought Office furniture by cheque) |
|
|
|
|
|
|
|
|
|
|
April 09 |
Purchases A/c |
Dr. |
|
1,060 |
|
|
To Ramesh and Bros. |
|
|
1,060 |
|
|
(Bought goods from Ramesh and Bros.) |
|
|
|
|
|
|
|
|
|
|
April 10 |
Mahendra A/c |
Dr. |
|
1,870 |
|
|
To Sales A/c |
|
|
1,870 |
|
|
(Sold goods to Mahendra) |
|
|
|
|
|
|
|
|
|
|
April 11 |
Ramesh and Bros. |
Dr. |
|
150 |
|
|
To Purchase Return A/c |
|
|
150 |
|
|
(Good returned to Ramesh and Bros.) |
|
|
|
|
|
|
|
|
|
|
April 12 |
Ramesh Bros. A/c |
Dr. |
|
910 |
|
|
To Bank A/c |
|
|
900 |
|
|
To Discount Received A/c |
|
|
10 |
|
|
(Cheque sent to Ramesh and Bros. and discount received) |
|
|
|
|
|
|
|
|
|
|
April 14 |
Cash A/c |
Dr. |
|
490 |
|
|
To Sales A/c |
|
|
490 |
|
|
(Sold goods for Cash) |
|
|
|
|
|
|
|
|
|
|
April 14 |
Bank A/c |
Dr. |
|
400 |
|
|
To Cash |
|
|
400 |
|
|
(Paid into Bank) |
|
|
|
|
|
|
|
|
|
|
April 15 |
Drawings A/c |
Dr. |
|
50 |
|
|
To Cash A/c |
|
|
50 |
|
|
(Drew Cash for personal use) |
|
|
|
|
|
|
|
|
|
|
April 30 |
Interest A/c |
Dr. |
|
20 |
|
|
To Bank A/c |
|
|
20 |
|
|
(Bank charged Interest) |
|
|
|
|
|
|
|
|
|
|
April 30 |
Stationery A/c |
Dr. |
|
30 |
|
|
To Cash A/c |
|
|
30 |
|
|
(Cash paid for Stationery) |
|
|
|
|
|
|
|
|
|
|
April 30 |
Cash A/c |
Dr. |
|
5,000 |
|
|
To Loan from Ridhi |
|
|
5,000 |
|
|
(Borrowed from Ridhi) |
|
|
|
|
|
|
|
|
|
|
April 30 |
Cash A/c |
Dr. |
|
600 |
|
|
To Mahendra |
|
|
600 |
|
|
(Cash received from Mahendra) |
|
|
|
|
April 30 |
Cash A/c |
Dr. |
|
2,000 |
|
|
To Capital A/c |
|
|
2,000 |
|
|
(Sold household furniture and transferred money into business) |
|
|
|
|
|
|
|
|
|
|
April 30 |
Cash A/c |
Dr. |
|
4,800 |
|
|
To Sales A/c |
|
|
4,800 |
|
|
(Sold goods for Cash) |
|
|
|
|
|
|
|
|
|
Page No 7.52:
Question 19:
Books of Suresh Journal |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
2016 |
|
|
|
|
|
April 01 |
Bank A/c |
Dr. |
|
6,000 |
|
|
To Capital A/c |
|
|
6,000 |
|
|
(Paid into Bank as Capital) |
|
|
|
|
|
|
|
|
|
|
April 02 |
Purchases A/c |
Dr. |
|
2,400 |
|
|
To Bank A/c |
|
|
2,400 |
|
|
(Bought goods for cheque) |
|
|
|
|
|
|
|
|
|
|
April 03 |
Mukand & Co. |
Dr. |
|
670 |
|
|
To Sales A/c |
|
|
670 |
|
|
(Sold Goods to Mukand & Co.) |
|
|
|
|
|
|
|
|
|
|
April 04 |
Cash A/c |
Dr. |
|
1,090 |
|
|
To Sales A/c |
|
|
1,090 |
|
|
(Sold goods for Cash) |
|
|
|
|
|
|
|
|
|
|
April 05 |
Sundry Expenses A/c |
Dr. |
|
300 |
|
|
To Cash A/c |
|
|
300 |
|
|
(Paid Sundry Expenses) |
|
|
|
|
|
|
|
|
|
|
April 06 |
Bank A/c |
Dr. |
|
1,500 |
|
|
To Cash A/c |
|
|
1,500 |
|
|
(Send Cash to Bank) |
|
|
|
|
|
|
|
|
|
|
April 07 |
Bank A/c |
Dr. |
|
650 |
|
|
Discount Allowed A/c |
Dr. |
|
20 |
|
|
To Mukand & Co. |
|
|
670 |
|
|
(Received Cheque From Mukand & Co and discount allowed) |
|
|
|
|
|
|
|
|
|
|
April 08 |
Wages A/c |
Dr. |
|
100 |
|
|
To Cash |
|
|
100 |
|
|
(Paid wages in Cash) |
|
|
|
|
|
|
|
|
|
|
April 08 |
Furniture A/c |
Dr. |
|
400 |
|
|
To Bank A/c |
|
|
400 |
|
|
(Bought Office furniture by cheque) |
|
|
|
|
|
|
|
|
|
|
April 09 |
Purchases A/c |
Dr. |
|
1,060 |
|
|
To Ramesh and Bros. |
|
|
1,060 |
|
|
(Bought goods from Ramesh and Bros.) |
|
|
|
|
|
|
|
|
|
|
April 10 |
Mahendra A/c |
Dr. |
|
1,870 |
|
|
To Sales A/c |
|
|
1,870 |
|
|
(Sold goods to Mahendra) |
|
|
|
|
|
|
|
|
|
|
April 11 |
Ramesh and Bros. |
Dr. |
|
150 |
|
|
To Purchase Return A/c |
|
|
150 |
|
|
(Good returned to Ramesh and Bros.) |
|
|
|
|
|
|
|
|
|
|
April 12 |
Ramesh Bros. A/c |
Dr. |
|
910 |
|
|
To Bank A/c |
|
|
900 |
|
|
To Discount Received A/c |
|
|
10 |
|
|
(Cheque sent to Ramesh and Bros. and discount received) |
|
|
|
|
|
|
|
|
|
|
April 14 |
Cash A/c |
Dr. |
|
490 |
|
|
To Sales A/c |
|
|
490 |
|
|
(Sold goods for Cash) |
|
|
|
|
|
|
|
|
|
|
April 14 |
Bank A/c |
Dr. |
|
400 |
|
|
To Cash |
|
|
400 |
|
|
(Paid into Bank) |
|
|
|
|
|
|
|
|
|
|
April 15 |
Drawings A/c |
Dr. |
|
50 |
|
|
To Cash A/c |
|
|
50 |
|
|
(Drew Cash for personal use) |
|
|
|
|
|
|
|
|
|
|
April 30 |
Interest A/c |
Dr. |
|
20 |
|
|
To Bank A/c |
|
|
20 |
|
|
(Bank charged Interest) |
|
|
|
|
|
|
|
|
|
|
April 30 |
Stationery A/c |
Dr. |
|
30 |
|
|
To Cash A/c |
|
|
30 |
|
|
(Cash paid for Stationery) |
|
|
|
|
|
|
|
|
|
|
April 30 |
Cash A/c |
Dr. |
|
5,000 |
|
|
To Loan from Ridhi |
|
|
5,000 |
|
|
(Borrowed from Ridhi) |
|
|
|
|
|
|
|
|
|
|
April 30 |
Cash A/c |
Dr. |
|
600 |
|
|
To Mahendra |
|
|
600 |
|
|
(Cash received from Mahendra) |
|
|
|
|
April 30 |
Cash A/c |
Dr. |
|
2,000 |
|
|
To Capital A/c |
|
|
2,000 |
|
|
(Sold household furniture and transferred money into business) |
|
|
|
|
|
|
|
|
|
|
April 30 |
Cash A/c |
Dr. |
|
4,800 |
|
|
To Sales A/c |
|
|
4,800 |
|
|
(Sold goods for Cash) |
|
|
|
|
|
|
|
|
|
Answer:
Journal |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
(a) |
Cash A/c |
Dr. |
|
750 |
|
|
Bad Debts A/c |
Dr. |
|
250 |
|
|
To Shyam’s A/c |
|
|
1,000 |
|
|
(Shyam became insolvent and only 75 paise in a rupee was recovered from his estate) |
|
|
|
|
|
|
|
|
|
|
(b) |
Cash A/c |
Dr. |
|
500 |
|
|
To Bad Debts Recovered A/c |
|
|
500 |
|
|
(Received cash from bad debts written-off last year) |
|
|
|
|
|
|
|
|
|
|
(c ) |
Rent A/c |
Dr |
|
800 |
|
|
To Outstanding Rent A/c |
|
|
800 |
|
|
(Rent due to landlord) |
|
|
|
|
|
|
|
|
|
|
(d) |
Depreciation A/c |
Dr. |
|
100 |
|
|
To Office Furniture A/c |
|
|
100 |
|
|
(Depreciation charged on office furniture) |
|
|
|
|
|
|
|
|
|
|
(e ) |
Salaries A/c |
Dr. |
|
1,000 |
|
|
To Salaries Outstanding A/c |
|
|
1,000 |
|
|
(Salaries due to employees) |
|
|
|
|
|
|
|
|
|
|
(f) |
Drawings A/c |
Dr. |
|
3,000 |
|
|
To Cash A/c |
|
|
3,000 |
|
|
(Income tax paid) |
|
|
|
|
|
|
|
|
|
Page No 7.52:
Question 20:
Journal |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
(a) |
Cash A/c |
Dr. |
|
750 |
|
|
Bad Debts A/c |
Dr. |
|
250 |
|
|
To Shyam’s A/c |
|
|
1,000 |
|
|
(Shyam became insolvent and only 75 paise in a rupee was recovered from his estate) |
|
|
|
|
|
|
|
|
|
|
(b) |
Cash A/c |
Dr. |
|
500 |
|
|
To Bad Debts Recovered A/c |
|
|
500 |
|
|
(Received cash from bad debts written-off last year) |
|
|
|
|
|
|
|
|
|
|
(c ) |
Rent A/c |
Dr |
|
800 |
|
|
To Outstanding Rent A/c |
|
|
800 |
|
|
(Rent due to landlord) |
|
|
|
|
|
|
|
|
|
|
(d) |
Depreciation A/c |
Dr. |
|
100 |
|
|
To Office Furniture A/c |
|
|
100 |
|
|
(Depreciation charged on office furniture) |
|
|
|
|
|
|
|
|
|
|
(e ) |
Salaries A/c |
Dr. |
|
1,000 |
|
|
To Salaries Outstanding A/c |
|
|
1,000 |
|
|
(Salaries due to employees) |
|
|
|
|
|
|
|
|
|
|
(f) |
Drawings A/c |
Dr. |
|
3,000 |
|
|
To Cash A/c |
|
|
3,000 |
|
|
(Income tax paid) |
|
|
|
|
|
|
|
|
|
Answer:
Journal In the Books of P.K. Nair |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
2016 |
|
|
|
|
|
Jan. 01 |
Cash A/c |
Dr. |
|
10,000 |
|
|
To Capital A/c |
|
|
10,000 |
|
|
(Business started with capital) |
|
|
|
|
|
|
|
|
|
|
Mar. 18 |
Bank A/c |
Dr. |
|
300 |
|
|
Cash A/c |
Dr. |
|
200 |
|
|
Discount Allowed A/c |
Dr. |
|
10 |
|
|
To Prem Nath & Co. A/c |
|
|
510 |
|
|
(Received from Prem Nath & Co.) |
|
|
|
|
|
|
|
|
|
|
July 15 |
Lal Chand & Co. A/c |
Dr. |
|
2,500 |
|
|
To Machinery A/c |
|
|
2,500 |
|
|
(Sold machinery on credit) |
|
|
|
|
|
|
|
|
|
|
Oct. 21 |
Cash A/c |
Dr. |
|
550 |
|
|
To Sales A/c |
|
|
550 |
|
|
(Sold goods for cash) |
|
|
|
|
|
|
|
|
|
|
Oct. 21 |
Purchases A/c |
Dr. |
|
215 |
|
|
To Cash A/c |
|
|
215 |
|
|
(Purchased goods for cash) |
|
|
|
|
|
|
|
|
|
|
Oct. 22 |
Furniture A/c |
Dr. |
|
1,000 |
|
Stock A/c | Dr. | 3,000 | |||
|
To Cash A/c |
|
|
4,000 |
|
|
(Furniture brought for office decoration and stock) |
|
|
|
|
|
|
|
|
|
|
Dec. 31 |
Rent A/c |
Dr. |
|
150 |
|
|
To Outstanding Rent A/c |
|
|
150 |
|
|
(Rent due to landlord) |
|
|
|
|
|
|
|
|
|
Page No 7.53:
Question 21:
Journal In the Books of P.K. Nair |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
2016 |
|
|
|
|
|
Jan. 01 |
Cash A/c |
Dr. |
|
10,000 |
|
|
To Capital A/c |
|
|
10,000 |
|
|
(Business started with capital) |
|
|
|
|
|
|
|
|
|
|
Mar. 18 |
Bank A/c |
Dr. |
|
300 |
|
|
Cash A/c |
Dr. |
|
200 |
|
|
Discount Allowed A/c |
Dr. |
|
10 |
|
|
To Prem Nath & Co. A/c |
|
|
510 |
|
|
(Received from Prem Nath & Co.) |
|
|
|
|
|
|
|
|
|
|
July 15 |
Lal Chand & Co. A/c |
Dr. |
|
2,500 |
|
|
To Machinery A/c |
|
|
2,500 |
|
|
(Sold machinery on credit) |
|
|
|
|
|
|
|
|
|
|
Oct. 21 |
Cash A/c |
Dr. |
|
550 |
|
|
To Sales A/c |
|
|
550 |
|
|
(Sold goods for cash) |
|
|
|
|
|
|
|
|
|
|
Oct. 21 |
Purchases A/c |
Dr. |
|
215 |
|
|
To Cash A/c |
|
|
215 |
|
|
(Purchased goods for cash) |
|
|
|
|
|
|
|
|
|
|
Oct. 22 |
Furniture A/c |
Dr. |
|
1,000 |
|
Stock A/c | Dr. | 3,000 | |||
|
To Cash A/c |
|
|
4,000 |
|
|
(Furniture brought for office decoration and stock) |
|
|
|
|
|
|
|
|
|
|
Dec. 31 |
Rent A/c |
Dr. |
|
150 |
|
|
To Outstanding Rent A/c |
|
|
150 |
|
|
(Rent due to landlord) |
|
|
|
|
|
|
|
|
|
Answer:
Journal |
|||||
Date |
Particulars |
L.F |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
2016 |
|
|
|
|
|
Jan.01 |
Cash A/c |
Dr. |
|
4,00,000 |
|
|
To Capital A/c |
|
|
4,00,000 |
|
|
(Started business with Cash) |
|
|
|
|
|
|
|
|
|
|
Jan.02 |
Bank A/c |
Dr. |
|
3,50,000 |
|
|
To Cash A/c |
|
|
3,50,000 |
|
|
(Deposited cash into bank ) |
|
|
|
|
|
|
|
|
|
|
Jan.10 |
Machinery A/c |
Dr. |
|
1,00,000 |
|
|
To Bank A/c |
|
|
1,00,000 |
|
|
(Bought machinery) |
|
|
|
|
|
|
|
|
|
|
Jan.15 |
Machinery A/c |
Dr. |
|
2,000 |
|
|
To Cash A/c |
|
|
2,000 |
|
|
(Paid installation charges ) |
|
|
|
|
|
|
|
|
|
|
Jan.20 |
Purchase A/c |
Dr. |
|
18,000 |
|
|
To Singh & Co. |
|
|
18,000 |
|
|
(Purchased timber) |
|
|
|
|
|
|
|
|
|
|
Jan.25 |
Furniture A/c |
Dr. |
|
5,000 |
|
|
To Purchases A/s |
|
|
5,000 |
|
|
(Timber used for office furniture) |
|
|
|
|
|
|
|
|
|
|
Jan.31 |
Rakesh A/c |
Dr. |
|
9,000 |
|
|
To Sales A/c |
|
|
9,000 |
|
|
(Sold goods to Rakesh) |
|
|
|
|
|
|
|
|
|
|
Feb.10 |
Singh & Co. |
Dr. |
|
18,000 |
|
|
To Bank A/c |
|
|
17,500 |
|
|
To Discount Received A/c |
|
|
500 |
|
|
(Sent cheque to Singh & Co. and discount received) |
|
|
|
|
|
|
|
|
|
|
Feb.15 |
Cash A/c |
Dr. |
|
8,750 |
|
|
Discount Allowed A/c |
Dr. |
|
250 |
|
|
To Rakesh |
|
|
9,000 |
|
|
(Received Cash from Rakesh and discount allowed) |
|
|
|
|
|
|
|
|
|
|
Feb.20 |
Wages A/c |
Dr. |
|
15,000 |
|
|
To Cash A/c |
|
|
15,000 |
|
|
(Paid wages) |
|
|
|
|
|
|
|
|
|
|
Feb.25 |
Rent A/c |
Dr. |
|
5,000 |
|
|
To Bank A/c |
|
|
5,000 |
|
|
(Paid rent) |
|
|
|
|
|
|
|
|
|
Page No 7.53:
Question 22:
Journal |
|||||
Date |
Particulars |
L.F |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
2016 |
|
|
|
|
|
Jan.01 |
Cash A/c |
Dr. |
|
4,00,000 |
|
|
To Capital A/c |
|
|
4,00,000 |
|
|
(Started business with Cash) |
|
|
|
|
|
|
|
|
|
|
Jan.02 |
Bank A/c |
Dr. |
|
3,50,000 |
|
|
To Cash A/c |
|
|
3,50,000 |
|
|
(Deposited cash into bank ) |
|
|
|
|
|
|
|
|
|
|
Jan.10 |
Machinery A/c |
Dr. |
|
1,00,000 |
|
|
To Bank A/c |
|
|
1,00,000 |
|
|
(Bought machinery) |
|
|
|
|
|
|
|
|
|
|
Jan.15 |
Machinery A/c |
Dr. |
|
2,000 |
|
|
To Cash A/c |
|
|
2,000 |
|
|
(Paid installation charges ) |
|
|
|
|
|
|
|
|
|
|
Jan.20 |
Purchase A/c |
Dr. |
|
18,000 |
|
|
To Singh & Co. |
|
|
18,000 |
|
|
(Purchased timber) |
|
|
|
|
|
|
|
|
|
|
Jan.25 |
Furniture A/c |
Dr. |
|
5,000 |
|
|
To Purchases A/s |
|
|
5,000 |
|
|
(Timber used for office furniture) |
|
|
|
|
|
|
|
|
|
|
Jan.31 |
Rakesh A/c |
Dr. |
|
9,000 |
|
|
To Sales A/c |
|
|
9,000 |
|
|
(Sold goods to Rakesh) |
|
|
|
|
|
|
|
|
|
|
Feb.10 |
Singh & Co. |
Dr. |
|
18,000 |
|
|
To Bank A/c |
|
|
17,500 |
|
|
To Discount Received A/c |
|
|
500 |
|
|
(Sent cheque to Singh & Co. and discount received) |
|
|
|
|
|
|
|
|
|
|
Feb.15 |
Cash A/c |
Dr. |
|
8,750 |
|
|
Discount Allowed A/c |
Dr. |
|
250 |
|
|
To Rakesh |
|
|
9,000 |
|
|
(Received Cash from Rakesh and discount allowed) |
|
|
|
|
|
|
|
|
|
|
Feb.20 |
Wages A/c |
Dr. |
|
15,000 |
|
|
To Cash A/c |
|
|
15,000 |
|
|
(Paid wages) |
|
|
|
|
|
|
|
|
|
|
Feb.25 |
Rent A/c |
Dr. |
|
5,000 |
|
|
To Bank A/c |
|
|
5,000 |
|
|
(Paid rent) |
|
|
|
|
|
|
|
|
|
Answer:
Journal In the Books of M/s Auto Aid |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
|
Purchases A/c |
Dr. |
|
45,000 |
|
|
To Vendor’s A/c |
|
|
45,000 |
|
|
(500 pieces of car horns purchased at Rs 100 each at 10% trade discount) |
|
|
|
|
|
|
|
|
|
|
|
Vendor’s A/c |
Dr. |
|
45,000 |
|
|
To Cash A/c |
|
|
45,000 |
|
|
(Payment made) |
|
|
|
|
|
|
|
|
|
The invoice value for the purchase of 500 car horns @ Rs. 100/- each less 5% trade discount will be Rs 45,000 only.
Page No 7.53:
Question 23:
Journal In the Books of M/s Auto Aid |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
|
Purchases A/c |
Dr. |
|
45,000 |
|
|
To Vendor’s A/c |
|
|
45,000 |
|
|
(500 pieces of car horns purchased at Rs 100 each at 10% trade discount) |
|
|
|
|
|
|
|
|
|
|
|
Vendor’s A/c |
Dr. |
|
45,000 |
|
|
To Cash A/c |
|
|
45,000 |
|
|
(Payment made) |
|
|
|
|
|
|
|
|
|
The invoice value for the purchase of 500 car horns @ Rs. 100/- each less 5% trade discount will be Rs 45,000 only.
Answer:
Journal In the Books of M/s Vaish Traders |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
|
Purchases A/c |
Dr. |
|
42,500 |
|
|
To Vendor’s A/c |
|
|
42,500 |
|
|
(500 parker pens purchased at Rs 100 each at 15% trade discount) |
|
|
|
|
|
|
|
|
|
|
|
Vendor’s A/c |
Dr. |
|
42,500 |
|
|
To Cash A/c |
|
|
40,375 |
|
|
To Discount Received A/c |
|
|
2,125 |
|
|
(Cash paid and 5% discount availed) |
|
|
|
|
|
|
|
|
|
Trade Discount = Rs 7,500
Cash Discount = Rs 2,125
Page No 7.53:
Question 24:
Journal In the Books of M/s Vaish Traders |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
|
Purchases A/c |
Dr. |
|
42,500 |
|
|
To Vendor’s A/c |
|
|
42,500 |
|
|
(500 parker pens purchased at Rs 100 each at 15% trade discount) |
|
|
|
|
|
|
|
|
|
|
|
Vendor’s A/c |
Dr. |
|
42,500 |
|
|
To Cash A/c |
|
|
40,375 |
|
|
To Discount Received A/c |
|
|
2,125 |
|
|
(Cash paid and 5% discount availed) |
|
|
|
|
|
|
|
|
|
Trade Discount = Rs 7,500
Cash Discount = Rs 2,125
Answer:
Journal In the Books of M/s Auto Help |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
|
Purchases A/c |
Dr. |
|
22,500 |
|
|
To Vendor’s A/c |
|
|
22,500 |
|
|
(500 pieces of motor cycle horns purchased at Rs 50 each at 10% trade discount) |
|
|
|
|
|
|
|
|
|
|
|
Vendor’s A/c |
Dr. |
|
22,500 |
|
|
To Cash A/c |
|
|
22,500 |
|
|
(Payment made) |
|
|
|
|
|
|
|
|
|
Notes:
1. Trade discount will be Rs 2,500
2. Cash discount will not be allowed as the payment was not made within 7 days, instead the payment was made after 30 days.
Page No 7.53:
Question 25:
Journal In the Books of M/s Auto Help |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
|
Purchases A/c |
Dr. |
|
22,500 |
|
|
To Vendor’s A/c |
|
|
22,500 |
|
|
(500 pieces of motor cycle horns purchased at Rs 50 each at 10% trade discount) |
|
|
|
|
|
|
|
|
|
|
|
Vendor’s A/c |
Dr. |
|
22,500 |
|
|
To Cash A/c |
|
|
22,500 |
|
|
(Payment made) |
|
|
|
|
|
|
|
|
|
Notes:
1. Trade discount will be Rs 2,500
2. Cash discount will not be allowed as the payment was not made within 7 days, instead the payment was made after 30 days.
Answer:
Journal |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
|
Ajay A/c |
Dr. |
|
5,000 |
|
|
To Cash A/c |
|
|
4,800 |
|
|
To Discount Received A/c |
|
|
200 |
|
|
(Rs 4,800 paid to Ajay in full settlement of Rs 5,000) |
|
|
|
|
|
|
|
|
|
|
So, the accounts credited here will be Cash A/c with Rs 4,800 and Discount Received A/c with Rs 200.
Page No 7.53:
Question 26:
Journal |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
|
Ajay A/c |
Dr. |
|
5,000 |
|
|
To Cash A/c |
|
|
4,800 |
|
|
To Discount Received A/c |
|
|
200 |
|
|
(Rs 4,800 paid to Ajay in full settlement of Rs 5,000) |
|
|
|
|
|
|
|
|
|
|
So, the accounts credited here will be Cash A/c with Rs 4,800 and Discount Received A/c with Rs 200.
Answer:
Journal |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
|
Jaspal A/c |
Dr. |
|
13,500 |
|
|
To Sales A/c |
|
|
13,500 |
|
|
(Goods worth Rs 15,000 sold to Jaspal at a trade discount of 10%) |
|
|
|
|
|
|
|
|
|
|
Calculation of Trade Discount
Page No 7.53:
Question 27:
Journal |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
|
Jaspal A/c |
Dr. |
|
13,500 |
|
|
To Sales A/c |
|
|
13,500 |
|
|
(Goods worth Rs 15,000 sold to Jaspal at a trade discount of 10%) |
|
|
|
|
|
|
|
|
|
|
Calculation of Trade Discount
Answer:
Journal |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
|
Cash A/c |
Dr. |
|
8,820 |
|
|
Discount Allowed A/c |
Dr. |
|
180 |
|
|
To Sales A/c |
|
|
9,000 |
|
|
(Goods worth Rs 10,000 sold to Anish at 10% trade discount plus 2% cash discount and received cash) |
|
|
|
|
|
|
|
|
|
Note: As it is given in the question that payment is received at the time of sale, therefore Cash A/c is to be debited and not Anish’s A/c. However, as per the solution given in the book, Anish’s A/c is debited.
Calculation of Trade Discount and Cash Discount
Page No 7.53:
Question 28:
Journal |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
|
Cash A/c |
Dr. |
|
8,820 |
|
|
Discount Allowed A/c |
Dr. |
|
180 |
|
|
To Sales A/c |
|
|
9,000 |
|
|
(Goods worth Rs 10,000 sold to Anish at 10% trade discount plus 2% cash discount and received cash) |
|
|
|
|
|
|
|
|
|
Note: As it is given in the question that payment is received at the time of sale, therefore Cash A/c is to be debited and not Anish’s A/c. However, as per the solution given in the book, Anish’s A/c is debited.
Calculation of Trade Discount and Cash Discount
Answer:
Journal |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
|
Purchases A/c |
Dr. |
|
21,250 |
|
|
To Ayur Products A/c |
|
|
21,250 |
|
|
(Goods worth Rs 25,000 purchased from Ayur Products at a trade discount of 15%) |
|
|
|
|
|
|
|
|
|
|
Calculation of Trade Discount
Page No 7.53:
Question 29:
Journal |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
|
Purchases A/c |
Dr. |
|
21,250 |
|
|
To Ayur Products A/c |
|
|
21,250 |
|
|
(Goods worth Rs 25,000 purchased from Ayur Products at a trade discount of 15%) |
|
|
|
|
|
|
|
|
|
|
Calculation of Trade Discount
Answer:
Journal |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
|
Purchases A/c |
Dr. |
|
13,500 |
|
|
To Cash A/c |
|
|
12,825 |
|
|
To Discount Received A/c |
|
|
675 |
|
|
(Goods worth Rs 15,000 purchased from Add Gel Pens at 10% trade discount plus 5% cash discount and cash paid) |
|
|
|
|
|
|
|
|
|
|
Note: As it is given in the question that payment is made at the time of purchase, therefore Cash A/c is to be credited and not Add Gel Pens A/c. However, as per the solution given in the book, Add Gel Pens A/c is credited.
Calculation of Trade Discount and Cash Discount
Page No 7.53:
Question 30:
Journal |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
|
Purchases A/c |
Dr. |
|
13,500 |
|
|
To Cash A/c |
|
|
12,825 |
|
|
To Discount Received A/c |
|
|
675 |
|
|
(Goods worth Rs 15,000 purchased from Add Gel Pens at 10% trade discount plus 5% cash discount and cash paid) |
|
|
|
|
|
|
|
|
|
|
Note: As it is given in the question that payment is made at the time of purchase, therefore Cash A/c is to be credited and not Add Gel Pens A/c. However, as per the solution given in the book, Add Gel Pens A/c is credited.
Calculation of Trade Discount and Cash Discount
Answer:
Journal In the Books of Shri Kanchan Sarkar |
||||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
||
(i) |
Purchases A/c |
Dr. |
|
63,000 |
|
|
|
To Cash A/c |
|
|
59,850 |
||
|
To Discount Received A/c |
|
|
3,150 |
||
|
(1,000 pens of Rs 70 each purchased at 10% trade discount plus 5% cash discount and payment made) |
|
|
|
||
|
|
|
|
|
||
(ii) |
Cash A/c |
Dr. |
|
31,587 |
|
|
|
Discount Allowed A/c |
Dr. |
|
1,663 |
|
|
|
To Sales A/c |
|
|
33,250 |
||
|
(500 pens of Rs 70 each sold at 5% trade discount plus 5% cash discount and payment received) |
|
|
|
||
|
|
|
|
|
||
(iii) |
Duttagupta A/c |
Dr. |
|
19,950 |
|
|
|
To Sales A/c |
|
|
19,950 |
||
|
(300 pens of Rs 70 each sold at 5% trade discount and payment received) |
|
|
|
||
|
|
|
|
|
||
(iv) |
Cash A/c |
Dr. |
|
9,900 |
|
|
Discount Allowed A/c | Dr. | 100 | ||||
|
To Rajan Mallick’s A/c |
|
|
10,000 |
||
|
(Received Rs 9,900 from Rajan in full settlement of Rs 10,000) |
|
|
|
||
|
|
|
|
|
||
(v) |
Ajay Mittal A/c |
Dr. |
|
15,000 |
|
|
|
To Cash A/c |
|
|
14,500 |
||
|
To Discount Received A/c |
|
|
500 |
||
|
(Paid Rs 14,500 to Ajay in full settlement of Rs 15,000) |
|
|
|
||
|
|
|
|
|
||
Note: In part (iii), Duttagupta’s A/c is to be debited and Sales A/c is to be credited, assuming that the entry is made on the date of sale. Also, the amount with which the entry is to be passed is Rs 19,950 (i.e. 21,000 less 5% trade discount). However, in the book the entry is passed with Rs 66,500.
Page No 7.54:
Question 31:
Journal In the Books of Shri Kanchan Sarkar |
||||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
||
(i) |
Purchases A/c |
Dr. |
|
63,000 |
|
|
|
To Cash A/c |
|
|
59,850 |
||
|
To Discount Received A/c |
|
|
3,150 |
||
|
(1,000 pens of Rs 70 each purchased at 10% trade discount plus 5% cash discount and payment made) |
|
|
|
||
|
|
|
|
|
||
(ii) |
Cash A/c |
Dr. |
|
31,587 |
|
|
|
Discount Allowed A/c |
Dr. |
|
1,663 |
|
|
|
To Sales A/c |
|
|
33,250 |
||
|
(500 pens of Rs 70 each sold at 5% trade discount plus 5% cash discount and payment received) |
|
|
|
||
|
|
|
|
|
||
(iii) |
Duttagupta A/c |
Dr. |
|
19,950 |
|
|
|
To Sales A/c |
|
|
19,950 |
||
|
(300 pens of Rs 70 each sold at 5% trade discount and payment received) |
|
|
|
||
|
|
|
|
|
||
(iv) |
Cash A/c |
Dr. |
|
9,900 |
|
|
Discount Allowed A/c | Dr. | 100 | ||||
|
To Rajan Mallick’s A/c |
|
|
10,000 |
||
|
(Received Rs 9,900 from Rajan in full settlement of Rs 10,000) |
|
|
|
||
|
|
|
|
|
||
(v) |
Ajay Mittal A/c |
Dr. |
|
15,000 |
|
|
|
To Cash A/c |
|
|
14,500 |
||
|
To Discount Received A/c |
|
|
500 |
||
|
(Paid Rs 14,500 to Ajay in full settlement of Rs 15,000) |
|
|
|
||
|
|
|
|
|
||
Note: In part (iii), Duttagupta’s A/c is to be debited and Sales A/c is to be credited, assuming that the entry is made on the date of sale. Also, the amount with which the entry is to be passed is Rs 19,950 (i.e. 21,000 less 5% trade discount). However, in the book the entry is passed with Rs 66,500.
Answer:
Journal In the Books of Mittal Cycles |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
|
Purchases A/c |
Dr. |
|
1,08,000 |
|
|
To Hero Cycles A/c |
|
|
1,08,000 |
|
|
(100 cycles of Rs 1,200 each purchased at 10% trade discount) |
|
|
|
|
|
|
|
|
|
|
|
Hero Cycles A/c |
Dr. |
|
10,800 |
|
|
To Purchases Return A/c |
|
|
10,800 |
|
|
(10 cycles damaged in transit and returned) |
|
|
|
|
|
|
|
|
|
|
|
Hero Cycles A/c |
Dr. |
|
97,200 |
|
|
To Cash A/c |
|
|
94,284 |
|
|
To Discount Received A/c |
|
|
2,916 |
|
|
(Cash paid to Hero Cycles) |
|
|
|
|
|
|
|
|
|
Page No 7.54:
Question 32:
Journal In the Books of Mittal Cycles |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
|
Purchases A/c |
Dr. |
|
1,08,000 |
|
|
To Hero Cycles A/c |
|
|
1,08,000 |
|
|
(100 cycles of Rs 1,200 each purchased at 10% trade discount) |
|
|
|
|
|
|
|
|
|
|
|
Hero Cycles A/c |
Dr. |
|
10,800 |
|
|
To Purchases Return A/c |
|
|
10,800 |
|
|
(10 cycles damaged in transit and returned) |
|
|
|
|
|
|
|
|
|
|
|
Hero Cycles A/c |
Dr. |
|
97,200 |
|
|
To Cash A/c |
|
|
94,284 |
|
|
To Discount Received A/c |
|
|
2,916 |
|
|
(Cash paid to Hero Cycles) |
|
|
|
|
|
|
|
|
|
Answer:
Journal In the Books of Oswal Woollens |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
2012 |
|
|
|
|
|
Jan. 04 |
Gupta Shawls A/c |
Dr. |
|
15,000 |
|
|
To Sales A/c |
|
|
15,000 |
|
|
(Being goods sold) |
|
|
|
|
|
|
|
|
|
|
Jan. 14 |
Cash A/c |
Dr. |
|
7,500 |
|
|
To Gupta Shawls A/c |
|
|
7,500 |
|
|
(50% of the amount due received) |
|
|
|
|
|
|
|
|
|
|
Feb. 10 |
Cash A/c |
Dr. |
|
7,500 |
|
|
To Gupta Shawls A/c |
|
|
7,500 |
|
|
(Balance 50% payment received) |
|
|
|
|
|
|
|
|
|
Page No 7.54:
Question 33:
Journal In the Books of Oswal Woollens |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
2012 |
|
|
|
|
|
Jan. 04 |
Gupta Shawls A/c |
Dr. |
|
15,000 |
|
|
To Sales A/c |
|
|
15,000 |
|
|
(Being goods sold) |
|
|
|
|
|
|
|
|
|
|
Jan. 14 |
Cash A/c |
Dr. |
|
7,500 |
|
|
To Gupta Shawls A/c |
|
|
7,500 |
|
|
(50% of the amount due received) |
|
|
|
|
|
|
|
|
|
|
Feb. 10 |
Cash A/c |
Dr. |
|
7,500 |
|
|
To Gupta Shawls A/c |
|
|
7,500 |
|
|
(Balance 50% payment received) |
|
|
|
|
|
|
|
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Answer:
Journal In the Books of Jaspal |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
2015 |
|
|
|
|
|
Feb. 01 |
Ayub’s A/c |
Dr. |
|
8,000 |
|
|
To Sales A/c |
|
|
8,000 |
|
|
(100 calculators of Rs 100 each sold at 20% trade discount) |
|
|
|
|
|
|
|
|
|
|
Feb. 05 |
Sales Return A/c |
Dr. |
|
560 |
|
|
To Ayub’s A/c |
|
|
560 |
|
|
(10 calculators returned by Ayub) |
|
|
|
|
|
|
|
|
|
|
Feb. 17 |
Ayub’s A/c |
Dr. |
|
4,000 |
|
|
To Sales A/c |
|
|
4,000 |
|
|
(10 keyboards of Rs 500 each sold at 20% trade discount) |
|
|
|
|
|
|
|
|
|
|
Feb. 20 |
Bank A/c |
Dr. |
|
10,000 |
|
|
To Ayub’s A/c |
|
|
10,000 |
|
|
(Cheque received from Ayub) |
|
|
|
|
|
|
|
|
|
|
Feb. 29 |
Bank A/c |
Dr. |
|
1,411 |
|
|
Discount Allowed A/c |
Dr. |
|
29 |
|
|
To Ayub’s A/c |
|
|
1,440 |
|
|
(Balance payment received from Ayub through cheque and allowed 2% cash discount) |
|
|
|
|
|
|
|
|
|
Page No 7.54:
Question 34:
Journal In the Books of Jaspal |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
2015 |
|
|
|
|
|
Feb. 01 |
Ayub’s A/c |
Dr. |
|
8,000 |
|
|
To Sales A/c |
|
|
8,000 |
|
|
(100 calculators of Rs 100 each sold at 20% trade discount) |
|
|
|
|
|
|
|
|
|
|
Feb. 05 |
Sales Return A/c |
Dr. |
|
560 |
|
|
To Ayub’s A/c |
|
|
560 |
|
|
(10 calculators returned by Ayub) |
|
|
|
|
|
|
|
|
|
|
Feb. 17 |
Ayub’s A/c |
Dr. |
|
4,000 |
|
|
To Sales A/c |
|
|
4,000 |
|
|
(10 keyboards of Rs 500 each sold at 20% trade discount) |
|
|
|
|
|
|
|
|
|
|
Feb. 20 |
Bank A/c |
Dr. |
|
10,000 |
|
|
To Ayub’s A/c |
|
|
10,000 |
|
|
(Cheque received from Ayub) |
|
|
|
|
|
|
|
|
|
|
Feb. 29 |
Bank A/c |
Dr. |
|
1,411 |
|
|
Discount Allowed A/c |
Dr. |
|
29 |
|
|
To Ayub’s A/c |
|
|
1,440 |
|
|
(Balance payment received from Ayub through cheque and allowed 2% cash discount) |
|
|
|
|
|
|
|
|
|
Answer:
Journal In the Books of Amit Saini |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
(i) |
Drawings A/c |
Dr. |
|
5,000 |
|
|
To Purchases A/c |
|
|
|
5,000 |
|
(Goods used for domestic purpose) |
|
|
|
|
|
|
|
|
|
|
(ii) |
Bad Debts A/c |
Dr. |
|
2,000 |
|
|
To Sohan |
|
|
|
2,000 |
|
(Bad debts written-off) |
|
|
|
|
|
|
|
|
|
|
(iii) |
Loss by Fire A/c |
Dr. |
|
6,000 |
|
|
To Purchases A/c |
|
|
|
6,000 |
|
(Goods lost by fire, not insured) |
|
|
|
|
|
|
|
|
|
|
(iv) |
Machinery A/c |
Dr. |
|
4,000 |
|
|
To Cash A/c |
|
|
|
4,000 |
|
(Wages paid for installation of machine) |
|
|
|
|
|
|
|
|
|
|
(v) |
Cash A/c |
Dr. |
|
17,100 |
|
|
Discount Allowed A/c |
Dr. |
|
900 |
|
|
To Sales A/c |
|
|
|
18,000 |
|
(Goods sold to Arjun at a cash discount of 5%) |
|
|
|
|
|
|
|
|
|
|
(vi) |
Cash A/c |
Dr. |
|
2,000 |
|
|
To Bad Debts Recovered A/c |
|
|
|
2,000 |
|
(Amount received from bad debts written-off) |
|
|
|
|
|
|
|
|
|
|
(vii) |
Charity A/c |
Dr. |
|
1,000 |
|
|
To Purchases A/c |
|
|
|
1,000 |
|
(Goods given away as charity) |
|
|
|
|
|
|
|
|
|
|
(viii) |
Cash A/c |
Dr. |
|
9,750 |
|
|
Bad Debts A/c |
Dr. |
|
250 |
|
|
To Ramesh |
|
|
|
10,000 |
|
(Cash received from Ramesh in full settlement) |
|
|
|
|
|
|
|
|
|
|
(ix) |
Prepaid Rent A/c |
Dr. |
|
4,000 |
|
|
To Cash A/c |
|
|
|
4,000 |
|
(Payment of rent is made in advance) |
|
|
|
|
|
|
|
52,000 |
52,000 |
|
|
|
|
|
|
Page No 7.54:
Question 35:
Journal In the Books of Amit Saini |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
(i) |
Drawings A/c |
Dr. |
|
5,000 |
|
|
To Purchases A/c |
|
|
|
5,000 |
|
(Goods used for domestic purpose) |
|
|
|
|
|
|
|
|
|
|
(ii) |
Bad Debts A/c |
Dr. |
|
2,000 |
|
|
To Sohan |
|
|
|
2,000 |
|
(Bad debts written-off) |
|
|
|
|
|
|
|
|
|
|
(iii) |
Loss by Fire A/c |
Dr. |
|
6,000 |
|
|
To Purchases A/c |
|
|
|
6,000 |
|
(Goods lost by fire, not insured) |
|
|
|
|
|
|
|
|
|
|
(iv) |
Machinery A/c |
Dr. |
|
4,000 |
|
|
To Cash A/c |
|
|
|
4,000 |
|
(Wages paid for installation of machine) |
|
|
|
|
|
|
|
|
|
|
(v) |
Cash A/c |
Dr. |
|
17,100 |
|
|
Discount Allowed A/c |
Dr. |
|
900 |
|
|
To Sales A/c |
|
|
|
18,000 |
|
(Goods sold to Arjun at a cash discount of 5%) |
|
|
|
|
|
|
|
|
|
|
(vi) |
Cash A/c |
Dr. |
|
2,000 |
|
|
To Bad Debts Recovered A/c |
|
|
|
2,000 |
|
(Amount received from bad debts written-off) |
|
|
|
|
|
|
|
|
|
|
(vii) |
Charity A/c |
Dr. |
|
1,000 |
|
|
To Purchases A/c |
|
|
|
1,000 |
|
(Goods given away as charity) |
|
|
|
|
|
|
|
|
|
|
(viii) |
Cash A/c |
Dr. |
|
9,750 |
|
|
Bad Debts A/c |
Dr. |
|
250 |
|
|
To Ramesh |
|
|
|
10,000 |
|
(Cash received from Ramesh in full settlement) |
|
|
|
|
|
|
|
|
|
|
(ix) |
Prepaid Rent A/c |
Dr. |
|
4,000 |
|
|
To Cash A/c |
|
|
|
4,000 |
|
(Payment of rent is made in advance) |
|
|
|
|
|
|
|
52,000 |
52,000 |
|
|
|
|
|
|
Answer:
Journal In the Books of Mohan Singh |
|||||
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
(i) |
Cash A/c |
Dr. |
|
15,000 |
|
|
Bad Debts A/c |
Dr. |
|
10,000 |
|
|
To Raj |
|
|
|
25,000 |
|
(Raj became insolvent and 60 paise received in full and final settlement) |
|
|
|
|
|
|
|
|
|
|
(ii) |
Rent A/c |
Dr. |
|
10,000 |
|
|
To Rent Outstanding A/c |
|
|
|
10,000 |
|
(Rent owed by Mohan Singh) |
|
|
|
|
|
|
|
|
|
|
(iii) |
Depreciation A/c |
Dr. |
|
5,000 |
|
|
To Furniture A/c |
|
|
|
5,000 |
|
(Depreciation charged on furniture) |
|
|
|
|
|
|
|
|
|
|
(iv) |
Salaries A/c |
Dr. |
|
20,000 |
|
|
To Salaries Outstanding A/c |
|
|
|
20,000 |
|
(Salaries due to employees) |
|
|
|
|
|
|
|
|
|
|
(v) |
Cash A/c |
Dr. |
|
8,500 |
|
|
Discount Allowed A/c |
Dr. |
|
500 |
|
|
To Sales A/c |
|
|
|
9,000 |
|
(Goods sold to Sunil and amount received in full settlement) |
|
|
|
|
|
|
|
|
|
|
(vi) |
Interest on Capital A/c |
Dr. |
|
10,000 |
|
|
To Capital A/c |
|
|
|
10,000 |
|
(Provided interest on capital) |
|
|
|
|
|
|
|
|
|
|
(vii) |
Insurance Claim A/c |
Dr. |
|
12,000 |
|
|
Loss by Fire A/c |
Dr. |
|
3,000 |
|
|
To Purchases A/c |
|
|
|
15,000 |
|
(Insured stock was lost in fire and insurance company admitted claim of Rs 12,000) |
|
|
|
|
|
|
|
|
|
|
(viii) |
Loss by Theft A/c |
Dr. |
|
7,000 |
|
|
To Cash A/c |
|
|
|
2,000 |
|
To Purchases A/c |
|
|
|
5,000 |
|
(Cash and goods lost by theft) |
|
|
|
|
|
|
|
1,01,000 |
1,01,000 |
|
|
|
|
|
|
View NCERT Solutions for all chapters of Class 13