DK Goel Solutions Chapter 12 Books of Original Entry - Special Purpose Subsidiary Books

DK Goel Accountancy Class 11 Solutions Chapter 12 Books of Original Entry – Special Purpose Subsidiary Books which is outlined by expert Accountancy teachers from the latest version of DK Goel Class 11 Accountancy books. We at BYJU’S provide DK Goel Solutions to assist students to comprehend all the theories in particular. There are numerous concepts in Accountancy, but the concepts of Trial Balance, Depreciation and Bank Reconciliation Statement (BRS) are required.

DK Goel Accountancy Class 11 Solutions – Chapter 12

Question 1

Prepare a Purchase Book in the books of M/s Modern Furniture House, Lucknow (U.P) from the following transactions assuming CGST @ 6% and SGST @ 6% :-

2017

June 5

Bought from Mohan Lal & Co., Kanpur (U.P) :-

20 Godrej Chairs @ ₹ 2,000 each

5 Godrej Tables @ ₹ 6,000 each

Trade Discount 20%

10

Purchased from Bharat Bhushan & Sons, Varanasi (U.P) :-

5 Almirahs @ ₹ 12,000 each

2 Revolving Chairs @ ₹ 20,000 each

Trade Discount 10%

14

Purchased from Surya Traders, Lucknow (U.P)

80 Desks @ ₹ 2,500 each

10 Sofa Sets @ ₹ 20,000 each

Trade Discount @ 15%

20

Purchased for cash from Gopi Chand Haldi Ram, Delhi :-

4 Tables @ ₹ 5,000 each

25

Bought Furniture for office use from New Furniture House, Faridabad on Credit :

5 Chairs @ ₹ 2,500 per Chair.

2 Tables @ ₹ 5,000 per Table.

Solution:

Purchases Book

Date

June

Particulars

Invoice No.

L.F.

Details

Cost

Input

CGST

Input SGST

Total

5

Mohan Lal & Company, Kanpur

20 Godrej Chairs @ ₹ 2,000 each

40,000

5 Godrej Tables @ ₹ 6,000 each

30,000

70,000

Less: 20% T.D.

14,000

56,000

Add: CGST @ 6%

3,360

Add: SGST @ 6%

3,360

62,720

56,000

3,360

3,360

62,720

10

Bharat Bhushan & Sons, Varanasi

5 Almirahs @ ₹ 12,000 each

60,000

2 Revolving Chairs @ ₹ 20,000 each

40,000

1,00,000

Less: 10% T.D.

10,000

90,000

Add: CGST @ 6%

5,400

Add: SGST @ 6%

5,400

1,00,800

90,000

5,400

5,400

1,00,800

14

Surya Traders, Lucknow

80 Desks @ ₹ 2,500 each

2,00,000

10 Sofa Sets @ ₹ 20,000 each

2,00,000

4,00,000

Less: 15% T.D.

60,000

3,40,000

Add: CGST @ 6%

20,400

Add: SGST @ 6%

20,400

3,80,800

3,40,000

20,400

20,400

3,80,800

4,86,000

29,160

29,160

5,44,320

Question 2

M/s Ram Narain & Sons of Kerala, who are dealers in readymade garments, purchased the following :-

2017

May 2

Purchased from Fashion House, Mumbai (Maharashtra) :-

100 Shirts @ ₹1,800 per Shirt

75 T-shirts @ ₹ 1,600 per piece

Less: Trade Discount 20%; and freight charges payable ₹ 10,000.

10

Purchased from Appolo Garments, Kerala :-

65 Shirts @ ₹ 2,000 per piece

80 T-shirts @ ₹ 1,500 per piece

Less: 20% Trade Discount and freight charges payable ₹ 2,000.

May 15

Purchased from Garden Furniture House, Kolkata :-

12 Chairs @ ₹ 5,000 per Chair

25

Purchased from Amitabh Shirts, New Delhi for cash :-

120 Shirts @ ₹ 1,500 per Shirt

Prepare Purchase Book assuming CGST @ 9% and SGST @ 9%

Solution:

Purchases Book of M/s Ram Narain & Sons, Kerala

Date

2017

Particulars

Invoice No.

L.F.

Details

Purchase

Input CGST

Input SGST

Input IGST

Total

Amount

May

2

Fashion House, Mumbai (Maharashtra)

100 Shirts @ Rs 1,800 per Shirt

1,80,000

75 T-Shirts @ Rs 1,600 per piece

1,20,000

3,00,000

Less: 20% Trade Discount

60,000

2,40,000

Add: 18% IGST

43,200

2,83,200

2,40,000

43,200

2,83,200

10

Appolo Garments, Kerala

65 Shirts @ Rs 2,000 per piece

1,30,000

80 T-Shirts @ Rs 1,500 per piece

1,20,000

2,50,000

Less: 20% Trade Discount

50,000

2,00,000

Add: 9% CGST

18,000

9% SGST

18,000

2,36,000

2,00,000

18,000

18,000

2,36,000

4,40,000

18,000

18,000

43,200

5,19,200

Working Notes :

(i) As the transaction made on May 15 and 25 are made through credit and cash, therefore, it will not be recorded in the record book.

(ii) For freight charges payable on May 02, 2017 and May 10, 2017, a separate entry will be recorded in the journal account. With the assumption of 18% GST rate, below is the journal entry made.

Journal Proper

Date

2017

Particulars

L.F.

Debit ₹

Credit ₹

May

2

Freight Inwards A/c

Input IGST A/c

Dr.

Dr.

10,000

1,800

To Fashion House

(Freight charges on inter-state purchase of goods @ 18% GST)

11,800

10

Freight Inwards A/c

Input CGST A/c

Input SGST A/c

Dr.

Dr.

Dr.

2,000

180

180

To Appolo Garments

(Freight charges on intra-state purchase of goods @ 9% GST)

2,360

Question 3

Record the following transactions in the Sales Book of Ganesh & Co. of Jaipur (Rajasthan), who deal in Furniture. Assume CGST @ 6% and SGST @ 6% :-

2017

June 4

Sold to Gupta Furniture House, New Delhi :-

120 Chairs @ ₹ 2,500 per Chair

25 Table @ ₹ 8,000 per Table

Less: 5%

8

Sold to Raja Furniture House, Ahmedabad (Gujarat) :-

8 Almirahs @ ₹ 15,000 each

9 Steel Cabinets @ ₹ 20,000 each

Less: Trade discount of 10%

12

Sold old Computer for ₹ 1,500 to Mohan & Co. on Credit.

20

Sold 4 Sofa sets @ ₹ 25,000 each to Varun & Co. for cash

25

Sold to New Furniture House, Jaipur:-

5 Sofa sets @ ₹ 20,000 each

10 Tables @ ₹ 8,000 each

28

Purchased from Ram Lal & Co. Jaipur on credit :-

50 chairs @ ₹ 2,000 each

Solution:

Sales Book of Ganesh & Co. of Jaipur

Date

2017

Particulars

Invoice No.

L.F.

Details ₹

Sale

Output CGST

Output SGST

Output IGST

Total ₹

June

4

Gupta Furniture House, New Delhi

120 Chairs @ Rs 2,500 per Chair

3,00,000

25 Tables @ Rs 8,000 per Table

2,00,000

5,00,000

Less: 5% Trade Discount

25,000

4,75,000

Add: 12% IGST

57,000

5,32,000

4,75,000

57,000

5,32,000

8

Raja Furniture House, Ahemadabad (Gujarat)

8 Almirahs @ Rs 15,000 each

1,20,000

9 Steel Cabinets @ Rs20,000 each

1,80,000

3,00,000

Less: 10% Trade Discount

30,000

2,70,000

Add: 12% IGST

32,400

3,02,400

2,70,000

32,400

3,02,400

25

New Furniture House, Jaipur

5 Sofa Sets @ Rs 20,000 each

1,00,000

10 Tables @ Rs 8,000 each

80,000

1,80,000

Add: 6% CGST

10,800

6% SGST

10,800

2,01,600

1,80,000

10,800

10,800

2,01,600

30

9,25,000

10,800

10,800

89,400

10,36,000

Note: In Sales Book, only credit sales are recorded, so transaction made on June 12th and 20th will not be recorded.

Question 4

Record the following transactions in the Sales Book of M/s Ajanta Electronics, Ranchi (Jharkhand) assuming CGST @ 9% and SGST @ 9%:

2018

March 1

Sold to Vandna Electronics, Kolkata (West Bengal) Vide Invoice No. 1255 :

50 Musical Alarm Clocks @ ₹ 800 each

40 Wall Clocks @ ₹ 500 each

Trade Discount 20%

10

Sold to Mohan Watch Company, Patna (Bihar) Vide Invoice No. 1256 :

25 Deluxe Wall Clocks @ ₹ 800 each

Trade Discount 10%

15

Sold to Superior Watch Company, Ranchi Vide Invoice No. 1257 :

75 Deluxe Wall Clocks @ ₹ 800 each

40 Super Deluxe Wall Clocks @ ₹ 1,000 each

Trade Discount 15%

20

Sold to Modern Electronics, Ranchi Vide Cash Memo No. 5234 :

100% Musical Alarm Clocks @ ₹ 800 each

Trade Discount 20%

Sales Book of M/s Ajanta Electronics, Ranchi (Jharkhand)

Date

2018

Particulars

Invoice No.

LF

Details

Sale

Output CGST

Output SGST

Output IGST

Total

March

1

Vandna Electronics, Kolkata

1255

50 Musical Alarm Clocks @ Rs 800 each

40,000

40 Wall Clocks @ Rs 500 each

20,000

60,000

Less: 20% Trade Discount

12,000

48,000

Add: 18% IGST

8,640

56,640

48,000

8,640

56,640

10

Mohan Watch Company, Patna (Bihar)

1256

25 Deluxe Wall Clocks @ Rs 800 each

20,000

Less: 10% Trade Discount

2,000

18,000

Add: 18% IGST

3,240

21,240

18,000

3,240

21,240

Mar. 15

Superior Watch Company, Ranchi

1257

75 Deluxe Wall Clocks @ Rs 800 each

60,000

40 Super Deluxe Wall Clocks @ Rs 1,000 each

40,000

1,00,000

Less: 20% Trade Discount

15,000

85,000

Add: 9% CGST

7,650

9% SGST

7,650

1,00,300

85,000

7,650

7,650

1,00,300

1,51,000

7,650

7,650

11,880

1,78,180

Note: Since, the transaction made on March 20nd was made on cash, so it will not be recorded in the sales book.

Question 5

Write up Return Outward Book of Malhotra & Co., Bhiwani (Haryana) from the following transactions assuming CGST @ 6% and SGST @ 6% : –

2017

August 4

Returned to Saraswati House, Bhiwani 25 Chairs @ ₹ 1,800 per Chair, being not of specified quality.

Trade Discount 10%

12

Sent back one Dining Table to Navneet Enterprise, Karnal (Haryana) for not being polished @ ₹ 10,000 and 20 Chairs @ ₹ 2,000 each.

20

Returned to Yadav & Co., Patiala (Punjab), is not according to sample:-

20 Chairs @ ₹ 1,500 each.

2 Dressing Tables @ ₹ 7,500 each.

28

Allowance claimed from Navneet Enterprise, Ludhiana (Punjab) on account of a mistake in the invoice ₹ 5,000.

Solution:

Purchases Return Book of Malhotra & Co., Bhiwani (Haryana)

Date

2017

Particulars

Debit

Note

No.

L.F.

Details (₹)

Purchase Return (₹)

Input CGST

Input SGST

Input IGST

Total ₹

Aug.

4

Saraswati House, Bhiwani

25 Chairs @ Rs 1,800 per Chair

45,000

Less: 10% Trade Discount

4,500

40,500

Add: 6% CGST

2,430

6% SGST

2,430

45,360

40,500

2,430

2,430

45,360

12

Navneet Enterprise, Karnal (Haryana)

1 Dining Table @ Rs10,000

10,000

20 Chairs @ Rs 2,000 each

40,000

50,000

Add: 6% CGST

3,000

6% SGST

3,000

56,000

50,000

3,000

3,000

56,000

20

Yadav & Co., Patiyala (Punjab)

20 Chairs @ 1,500 each

30,000

2 Dressing Tables @ 7,500 each

15,000

45,000

Add: 12% IGST

5,400

50,400

45,000

5,400

50,400

28

Navneet Enterprise, Ludhiyana (Punjab)

Mistake in the Invoice

5,000

Add: 12% IGST

600

5,600

5,000

600

5,600

31

1,40,500

5,430

5,430

6,000

1,57,360

Question 6

Enter the following transactions in the Returns Inward Book of Anand Cloth House, Ajmal Khan Road, New Delhi Assuming CGST @ 2.5% and SGST @ 2.5 %:-

October 3

Chakravarti & Co. Jaipur (Rajasthan), returned to us is not according to sample:-

50 Metre Cotton Cloth @ ₹ 200 per Metre

30 Metre Silk Cloth @ ₹ 500 per Metre

Trade Discount 20%

12

Narain Rai & Co. Indore (M.P.), a return is not up to the approved sample:-

25 Metre woollen cloth @ ₹ 400 per Metre

20

Goods sold to Janaki Das Sita Ram, New Delhi now returned by them, being defective valued at ₹ 8,000.

28

Allowance allowed to Kesari Lal & Sons, Sadar Bazar, New Delhi on account of a mistake in the invoice ₹ 3,000.

Solution:

Returns Inward Book of Anand Cloth House, Ajmal Khan Road, New Delhi

Date

Oct

Particulars

Credit Note No.

L.F.

Details

Sales Return

Output CGST

Output SGST

Output IGST

Total ₹

3

Chakravarti & Co., Jaipur (Rajasthan)

50 metre Cotton Cloth @ Rs 200/metre

10,000

30 metre Silk Cloth @ Rs 500/ metre

15,000

25,000

Less: 20% Trade Discount

5,000

20,000

Add: 5% IGST

1,000

21,000

20,000

1,000

21,000

12

Narain Rai & Co., Indore (MP)

25 metre Woolen Cloth @ Rs 400/ metre

10,000

Add: 5% IGST

500

10,500

10,000

500

10,500

20

Janaki Dass Sita Ram, New Delhi

Defective Goods

8,000

Add: 2.5% CGST

200

2.5% SGST

200

8,400

8,000

200

200

8,400

28

Kesari Lal & Sons, Sadar Bazar, New Delhi

Mistake in the Invoice

3,000

Add: 2.5% CGST

75

2.5% SGST

75

3,150

3,000

75

75

3,150

31

41,000

275

275

1,500

43,050

Question 7

Prepare Returns Inward and Returns Outward Books from the following in the books of Modern Shoes, Kolkata (West Bengal) assuming CGST @ 6% and SGST @ 6% .

2018

January 3

Returned to Bata Shoe Co., Kolkata

50 pairs of Chappals being not up to the approved sample @ ₹ 600 per pair

Less: Trade Discount 20%

10

Guru Nanak & Co., Kolkata, returned to us :-

10 pairs of Shoes, for being defective @ ₹ 1,200 per pair

Less: Trade Discount 10%

15

Returned to Baluja Shoe Co., Kolkata

20 pairs of ladies chappals @ ₹ 500 per pair

Less: 15%

22

Partap Footwear Co., Patna (Bihar), returned to us :-

50 pairs of Shoes @ ₹ 1,400 per pair

Less: 5%

27

Manoj Shoe Co., Kolkata, returned to us :-

20 pairs of Sandals @ ₹ 1,000 per pair

31

Returned to Liberty Shoe Co., Ranchi (Jharkhand) defective shoes worth ₹ 5,000.

Solution:

Returns Outward Book of Modern Shoes, Kolkata (West Bengal

Date

2018

Particulars

Debit Note No.

L.F.

Details ₹

Purchases

Return

Input CGST

Input SGST

Input IGST

Total ₹

Jan

3

Bata Shoe Co., Kolkata

50 pairs of Chappals @ Rs 600/ pair

30,000

Less: 20% Trade Discount

6,000

24,000

Add: 6% CGST

1,440

6% SGST

1,440

26,880

24,000

1,440

1,440

26,880

15

Baluja Shoe Co., Kolkata

20 pairs of Ladies Chappals @ Rs 500/ pair

10,000

Less: 15% Trade Discount

1,500

8,500

Add: 6% CGST

510

6% SGST

510

9,520

8,500

510

510

9,520

31

Liberty Shoe Co.,Ranchi (Jharkhand)

Defective Shoes

5,000

Add:12% IGST

600

5,600

5,000

600

5,600

31

37,500

1,950

1,950

600

42,000

Returns Inward Book of Modern Shoes, Kolkata (West Bengal)

Date

2017

Particulars

Credit Note No.

L.F.

Details ₹

Sales Return

Output CGST

Output SGST

Output IGST

Total

Jan

10

Guru Nanak & Co., Kolkata

10 pairs of Shoes @ Rs 1,200/pair

12,000

Less: 10% Trade Discount

1,200

10,800

Add: 6% CGST

648

6% SGST

648

12,096

10,800

648

648

12,096

22

Partap Footwear Co., Patna (Bihar)

50 pairs of Shoe @ Rs 1,400/ pair

70,000

Less: 5% Trade Discount

3,500

66,500

Add:12% IGST

7,980

74,480

66,500

7,980

74,480

27

Manoj Shoe Co., Kolkata

20 pairs of Sandals @ Rs 1,000/ pair

20,000

Add: 6% CGST

1,200

6% SGST

1,200

22,400

20,000

1,200

1,200

22,400

31

97,300

1,848

1,848

7,980

1,08,976

Question 8

Enter the following transactions in the ‘Journal Proper’ of Karuna Stores :

March 1

Purchased furniture on credit from Kuber Furniture Store for ₹ 15,000.

March 5

Goods for ₹ 6,000 given away as charity.

March 12

Goods worth ₹ 8,000 and Cash ₹ 4,000 were stolen by an employee.

March 15

Arun who owed us ₹ 20,000 was declared insolvent and nothing was received from him.

March 18

Proprietor withdrew for his personal use cash ₹ 5,000 and goods worth ₹ 10,000.

March 31

Provide interest on capital of ₹ 5,00,000 at 6% p.a. for full year.

March 31

Out of the rent paid this year, ₹ 5,000 is related to the next year.

March 31

Salaries due to clerks ₹ 12,000.

Solution:

Journal books of Sh. Karuna Sagar

Date

Particulars

L.F.

Debit ₹

Credit ₹

Mar. 1

Furniture A/c

Dr.

15,000

To Kuber Furniture Store

(Purchased furniture on credit)

15,000

5

Charity A/c

Dr.

6,000

To Purchases A/c

(Goods given for charity)

6,000

12

Loss by Theft A/c

Dr.

8,000

To Purchases A/c

(Stolen goods)

8,000

15

Bad Debts A/c

Dr.

20,000

To Arun

(Arun was declared insolvent)

20,000

18

Drawings A/c

Dr.

15,000

To Purchases A/c

(Withdrawn goods for personal use)

10,000

31

Interest on Capital A/c

Dr.

30,000

To Capital A/c

(Interest allowed on capital)

30,000

31

Prepaid Rent A/c

Dr.

5,000

To Rent A/c

(Prepaid rent adjustment)

5,000

31

Salary A/c

Dr.

12,000

To Outstanding Salary A/c

(Salary to clerks was outstanding)

12,000

Note: In journal proper, cash transactions will not be registered.

Question 9

Record the following transactions of Keshav Bros. in the proper books :

2017

Jan. 1

Assets : Cash in hand ₹ 8,500; Cash at Bank ₹ 1,40,000; Stock of goods ₹ 2,20,000; Due from Manohar Lal ₹ 30,000 and Deep Chand ₹ 24,000; Furniture and Equipment ₹ 3,00,000.

Liabilities : Due to Sunil ₹ 15,000.

2

Withdrawn from bank ₹ 20,000.

4

Paid salaries ₹ 22,000.

6

Sold goods to Surya Narain :

60 metres silk @ ₹ 150 per metre

100 metres cotton @ ₹ 70 per metre

Less : Trade Discount @ \(12\frac{1}{2}\)%

8

Surya Narain returned 40 metres Cotton.

9

Received full payment from Manohar Lal by cheque, sent it to bank, Discount allowed 3%.

10

Purchased from Ganga Parshad :

300 metres cotton @ ₹ 60 per metre

500 metres silk @ ₹ 120 per metre

Less : Trade Discount 10%.

12

Sold goods to Vinita for cash ₹ 16,000.

13

Accepted a bill for ₹ 25,000 for 30 days drawn by Ganga Parshad.

15

Gave cheque to Ganga Parshad for ₹ 45,000, discount allowed by him ₹ 200.

18

Paid to Sunil ₹ 14,850 after receiving discount of 1%.

20

Mr. Keshav Chand took away 5 metres silk costing ₹ 100 per metre for his personal use.

24

Paid rent by cheque ₹ 2,000.

25

Received from Surya Narain ₹ 11,000 in full settlement of his account.

27

Old newspapers sold for cash ₹ 400.

27

Paid for stationery and postage ₹ 500.

28

Sold 400 metres silk @ ₹ 160 per metre to Sh. Ganesh Chand.

31

Received cash ₹ 40,000 from Sh. Ganesh Chand and also received a B/R from him for the balance amount due from him for 2 months.

Solution:

Proper Subsidiary Books

Cash Book

Dr.

Cr.

Date

2017

Particulars

L.F.

Cash ₹

Bank ₹

Date

Particulars

L.F.

Cash ₹

Bank ₹

Jan

Jan

1

Balance b/d

8,500

1,40,000

2

Cash A/c

C

20,000

2

Bank A/c

C

20,000

4

Salaries A/c

22,000

9

Manohar Lal (WN1)

29,100

15

Ganga Parshad

45,000

9

Sales A/c

16,000

18

Sunil (WN2)

14,850

25

Surya Narain (WN3)

11,000

24

Rent A/c

2,000

27

Sundry Income

400

27

Stationery & Postage A/c

500

31

Sh. Ganesh Chand

40,000

31

Balance c/d

58,550

1,02,100

95,900

1,69,100

95,900

1,69,100

Feb. 1

Balance b/d

58,550

1,02,100

Working Note 1: Evaluating discount given to Manohar Lal

Amount due from Manohar Lal = 30,000

Discount allowed = \(\frac{3}{100}\) X 30,000 = ₹ 900

Therefore, amount received from Manohar Lal = 30,000 – 900 = ₹ 29,100

Working Note 2: Evaluating discount given to Sunil

Amount due to Sunil = 15,000

Received discount = 15,000 X \(\frac{1}{100}\) = ₹ 150

Working Note 3: Evaluating discount given to Surya Narain

Net sale to Surya Narain = Total sales – sales return

= 14,000- 2,450

= ₹ 11,500

Received amount = 11,000

So, the discount allowed = ₹550

Purchases Book

Date

2017

Particulars

L.F.

Details ₹

Amount ₹

Jan

10

Ganga Parshad

300 metres Cotton @ 60/metre

18,000

500 metres Silk @ 120 per metre

60,000

78,000

Less: 10% Trade Discount

7,800

70,200

31

Purchases A/c

Dr.

70,200

Sales Book

Date

2017

Particulars

L.F.

Details₹

Amount ₹

Jan

6

Surya Narain

60 metres Silk @ Rs 150/metre

9,000

100 metres Cotton @ Rs 70/ metre

7,000

16,000

Less: 12.5% Trade Discount

2,000

14,000

28

Sh. Ganesh Chand

40 metres Silk @ Rs 160/ metre

64,000

64,000

31

Sales A/c

Cr.

78,000

Sales Return Book

Date

2017

Particulars

Debit Note No.

L.F.

Details (Rs)

Amount (Rs)

Jan

8

Surya Narain

40 metres Cotton @ Rs 70 per metre

2,800

Less: 12.5% Trade Discount

350

2,450

31

Sales Return A/c

Dr.

2,450

Journal

Date

2017

Particulars

L.F.

Debit ₹

Credit ₹

Jan

1

Cash A/c

Bank A/c

Stock A/c

Manohar Lal

Deep Chand

Furniture & Equipment

Dr.

Dr.

Dr.

Dr.

Dr.

Dr.

8,500

1,40,000

2,20,000

30,000

24,000

3,00,000

To Sunil

To Capital A/c

(Opening balances brought forward)

15,000

7,07,500

9

Discount Allowed A/c

Dr.

900

To Manohar Lal

(3% discount given to Manohar Lal )

900

13

Ganga Parshad

Dr.

25,000

To Bills Payable A/c

(Acceptance given to Ganga Parshad)

25,000

15

Ganga Parshad

Dr.

200

To Discount Received A/c

(₹ 200 discount received from Ganga Parshad)

200

18

Sunil

Dr.

150

To Discount Received A/c

(1% of discount received from Sunil )

150

20

Drawings A/c

Dr.

500

To Purchases A/c

(5 meters silk costing ₹100 each was taken for personal use)

500

25

Discount Allowed A/c

Dr.

550

To Surya Narain

(Allowed discount of ₹ 550 to Surya Narain)

550

31

Bills Receivable A/c

Dr.

24,000

To Sh. Ganesh Chand

(Acceptance received)

24,000

7,73,800

7,73,800

Question 10

Name the books of original entry where the following transactions will be recorded with reasons thereof:

(a)

Goods Purchased from Ram Lal ₹ 5,000 on credit.

(b)

Provision for doubtful debts created @ 5% on debtors with book value of ₹ 10,000.

(c)

Defective goods sold to Babita on credit worth ₹ 4,000 were returned by her.

(d)

Purchased furniture on credit from Mr. Ratan Singh for ₹ 15,000 for use in the business.

Solution :

Sl no.

Transactions

Books of Original Entry

Reason

(a)

Goods purchased from Ram Lal @ Rs 5,000 on credit

Purchases Book

Goods bought in credit is only recorded in purchase book.

(b)

Provision for doubtful debts created @ 5% on debtors with book value of Rs 10,000

Journal Proper

In journal proper, only provision for doubtful debts is recorded

(c)

Defective goods sold to Babita on credit worth Rs 4,000 were returned by her

Sales Return Book

In sales return book, goods sold to customers in credit and now returned are recorded

(d)

Purchased furniture on credit from Mr. Ratan Singh for Rs 15,000 for use in the business

Journal Proper

Goods (like furniture) purchased in credit is mentioned in Journal Proper

Question 11

Prepare the purchase book of M/s Shiv Stationers from the following:

2010

June 1

Purchased from Gagan Stationery Mart on credit

(i) 70 dozens pencils @ ₹ 25 per dozen.

(ii) 10 dozens registers @ ₹ 15 per register.

June 10

Purchased from Amrit Furniture

2 Tables @ ₹ 1,500 per table.

June 15

Purchased 3 dozens ink pots @ ₹ 80 per dozen from Mehar Paper Co. and received cash discount of ₹ 50.

June 18

Purchased from Rehman Bros. on credit

(i) 5 reams of white paper @ ₹ 50 per ream

(ii) 120 pens @ ₹ 60 per dozen.

Less trade discount of 10%

Solution:

M/s Shiv Stationers Purchases Book

Date

2010

Particulars

L.F.

Details ₹

Amount

June

1

Gagan Stationery Mart

70 dozen Pencils @ Rs 25/dozen

1,750

120* Registers @ Rs 15/ register

1,800

3,550

18

Rehman Bros.

5 reams of White Paper @ Rs 50 per ream

250

10 Dozen** @ 60/dozen

600

850

Less: 10% Trade Discount

85

765

30

Purchases A/c

Dr.

4,315

Note: Purchase of goods made on JUne 10th and 15th, will not be recorded as it was made in cash. And purchases book only records credit purchase.

Working Note:

1) 1 dozen contains a quantity of 12

So, 10 dozen will contain = 10 X 12 = 120 registered

2) 1 dozen contains a quantity of 12

So, 120 pens will be = \(\frac{120}{12}\) = 10 dozen

Question 12

From the following particulars prepare the Purchases Book of Rama Book Store:

Feb 1, 2017

Purchased from M/s Brown & Co. on credit.

5 gross pencils @ ₹ 100 per gross.

1 gross registers @ ₹ 200 per dozen.

Less: 10% trade discount.

Feb 2, 2017

Purchased for cash from stationery Mart.

10 gross exercise books @ ₹ 60 per dozen.

Feb 6, 2017

Purchased from The Paper Co.

5 reams of white paper @ ₹ 100 per ream

10 reams of brown paper @ ₹ 65 per ream

Less: trade discount @ 10%

Solution:

Date

Particulars

Invoice No.

L.F.

Details

Total

Feb 1

M/s Brown & Co.

5 Gross Pencils @ ₹ 100/ gross

500

1 Gross Register @ ₹ 200/ dozen (12 × 200)

2,400

2,900

Less: 10% T.D.

290

2,610

Feb 6

The Paper Co.

5 Reams of White Paper @ ₹ 100/ ream

500

10 Reams of Brown Paper @ ₹ 65 / ream

650

1,150

Less: 10% T.D.

115

1,035

3,645

Question 13

Enter the following transactions in the Sales Book of M/s Sri Ram & Sons, Kolkata:−

2017

Jan 5

Sold to Ramesh Stationery House, Kolkata :−

50 Dozen Pencils @ ₹ 20 per doz.

20 Dozen Pens @ ₹ 5 per Pen

Trade Discount 10%

8

Sold to Gupta Stationery Shop, Kanpur :−

10 Dozen Note Books @ ₹ 60 per doz.

15 Gross Rubbers @ ₹ 10 per doz.

20

Sold old newspapers for ₹ 150

24

Sold to Modern Stationery House, Lucknow for Cash :−

25 Dozen Pencils @ ₹ 22 per doz.

28

Sold to Ali Mohammad & Sons, Allahabad :−

10 Reams of Paper @ ₹ 80 per Ream

Discount 15%

31

Sold old furniture to Kedar Nath & Co., Allahabad on credit ₹2,200

Solution:

M/s Sri Ram & Sons, Kolkata Sales Book

Date

2017

Particulars

L.F.

Details ₹

Amount

Jan

5

Ramesh Stationery House, Kolkata

50 Dozen Pencils @ Rs 20 per dozen

1,000

240 Pens @ Rs 5 per pen

1,200

2,200

Less: 10% Trade Discount

220

1,980

8

Gupta Stationery Shop, Kanpur

10 Dozen Notebooks @ Rs 60 per dozen

600

15 Gross* Rubbers @ Rs 10 per dozen

1,800

2,400

28

Ali Mohammad & Sons, Allahabad

10 Reams of Paper @ Rs 80 per Ream

800

Less: 15% Trade Discount

120

680

Sales A/c

Cr.

5,060

Note: Sale of goods made on Jan 20th, 24th,and 30th will not be recorded as it was made in cash and Sales book records only the credit sale of goods.

Working Note:

1 Gross = 12 dozen

15 dozen 12 X 15 = 180 dozen

Question 14

Prepare Sales book and Purchases book of M/s Deendayal from the following transactions:−

2016

June 7

Purchased from Arora & Co., Nai Sarak

10 Chairs @ ₹ 200 each

1 Table for ₹ 600

Trade discount 10%

June 10

Sold to Sudha Furniture Co., Agra

2 Almirahs @ ₹ 2,000 each

Less : 15%

June 12

Sold to Meera Mart for cash

10 Tables @ ₹ 1,000 each

June 15

Purchased from Hira Lal & Sons for cash

15 Chairs @ ₹ 350 each

June 16

Purchased from Fateh Chand & Co., Delhi

5 Chairs @ ₹ 180 each

June 25

Sold to Ravi Sharma, Delhi

2 Dining Tables @ ₹ 6,000 each

Less : 10%

Solution:

Purchases Book

Date

2016

Particulars

L.F.

Details

Amount

June

7

Arora & Co., Nai Sarak

10 Chairs @ Rs 200 each

2,000

1 Table @ Rs 600

600

2,600

Less: 10% Trade Discount

260

2,340

16

Fateh Chand & Co., Delhi

5 Chairs @ Rs 180 each

900

900

30

Purchases A/c

Dr.

3,240

Note: Purchase made on June 15, will not be recorded in the purchase book as the purchases was made on cash. And purchases book records only the credit purchase of goods.

Sales Book

Date

2016

Particulars

L.F.

Details

Amount

June

10

Sudha Furniture Co., Agra

2 Almirahs @ Rs 2,000 each

4,000

Less: 15% Trade Discount

600

3,400

25

Ravi Sharma, Delhi

2 Dining Tables @ Rs 6,000 each

12,000

Less: 10% Trade Discount

1,200

10,800

30

Sales A/c Cr.

14,200

Note: Transaction made on June 12 will not be recorded as it was made on cash, and sales book only records credit sales of goods.

Question 15

Following transactions were recorded in the books of Darshan Traders:−

2017

March 1

Sold to Chandra Light House :−

50 Tubelights @ ₹ 60 each Less : 20%

20 Heaters @ ₹120 each Less : 25%

5

Purchased from Charat Ram Electric Co. :−

25 Table Fans @ ₹ 600 each

20 Ceiling Fans @ ₹800 each

10

Chaudhary & Sons purchased from us :−

80 Dozen Bulbs @ ₹ 90 per Dozen

12

Purchased from Ram Lal & Sons one Typewriter for ₹ 6,000 on credit, for office use.

16

Sri Ram & Sons sold to us :−

10 Electric Irons @ ₹ 180 each less : 10%

20

Chandra Light House returned :−

5 Tubelights sold on March 1.

22

Sold goods to Jai Bhagwan & Co. for cash ₹ 10,000.

25

Returned to Sri Ram & Sons 2 Electric Irons purchased on March 16.

You are required to prepare (i) Purchase Book; (ii) Sales Book; (iii) Purchase Return Book, and (iv) Sales Return Book.

Solution:

Purchases Book

Date

2017

Particulars

L.F.

Details ₹

Amount

March

5

Charat Ram Electric Co.

25 Table Fans @ Rs 600 /table fan

15,000

20 Ceiling Fans @ Rs 800 /ceiling fan

16,000

31,000

16

Sri Ram & Sons

10 Electric Fans @ Rs 180/fan

1,800

Less: 10% Trade Discount

180

1,620

31

Purchases A/c

Dr.

32,620

Sales Book

Date

2017

Particulars

L.F.

Details ₹

Amount

March

1

Chandra Light House

50 Tube Light @ Rs 60 /tube lights

3,000

Less: 20% Trade Discount

600

2,400

20 Heaters @ Rs 120 /heaters

2,400

Less: 25% Trade Discount

600

1,800

10

Chaudhry & Sons

80 dozen Bulbs @ Rs 90 / dozen

7,200

7,200

Sales A/c

Cr.

11,400

Purchases Return Book

Date

2017

Particulars

Debit Note No.

L.F.

Details ₹

Amount ₹

March

25

Sri Ram & Sons

2 Electric Irons @ Rs 180/irons

360

Less: 10% Trade Discount

36

324

31

Purchases Return A/c

Cr.

324

Sales Return Book

Date

2017

Particulars

Debit Note No.

L.F.

Details ₹

Amount

March

20

Chandra Light House

5 Tube Light @ Rs 60/ tube light

300

Less: 20% Trade Discount

60

240

Jan.31

Sales Return A/c

Dr.

240

Question 16

Enter the following transactions of a dealer in electrical goods in the appropriate subsidiary books:

2017

(₹)

Jan. 1

Assets : Cash in hand ₹ 12,400; Stock ₹ 3,60,000; Debtors : Abhilash ₹ 20,000; Bhuwan ₹ 30,000, Charu ₹ 52,000; Furniture ₹ 2,25,000.

Liabilities : Bank overdraft ₹ 38,000; Creditors : Dinesh ₹ 15,000; Eknath ₹ 25,000.

3

Purchased from Raghuraj & Sons :

80 electric Kettles @ ₹ 300 each

40 electric irons @ ₹ 420 each

20% Trade Discount.

5

Withdrew from Bank

20,000

6

Acceptance received from Abhilash at one month for the amount due from him.

10

Purchased a computer from Gursharan Bros. on credit for office use

40,000

12

Returned 10 electric kettles to Raghuraj & Sons.

14

Paid Raghuraj & Sons by cheque the balance due to them.

15

Paid to Gursharan Bros. ₹ 30,000 in cash and the balance by a cheque.

16

Paid wages in cash

500

20

Purchased from Dinesh :

10 Washing Machines @ ₹ 16,000 each

4 Vacuum cleaners @ ₹ 6,000 each

15% Trade Discount

22

Sold to Charu

200 electric shavers @ ₹ 250 each

400 toasters @ ₹ 150 each

450 heaters @ ₹ 200 each

10% Trade Discount

24

Received from Charu a cheque in full settlement of his account. The cheque is paid into bank.

2,30,000

25

Acceptance given to Dinesh for 30 days

1,50,000

25

Cheque issued to Dinesh in full settlement of his account

21,000

25

Sold for Cash 20 electric irons

9,000

27

Deposited into bank

5,000

30

Paid staff salaries by cheque

15,000

30

Bank charged incidental expenses ₹ 50 and charged interest ₹ 1,200.

Solution:

Cash Book

Dr.

Cr.

Date

2017

Particulars

L.F.

Cash

Bank

Date

2017

Particulars

L.F.

Cash

Bank

Jan.

Jan.

1

Balance b/d

12,400

1

Balance b/d

38,000

5

Bank A/c

C

20,000

5

Cash A/c

C

20,000

24

Charu

2,30,000

14

Raghuraj & Sons

(32,640 – 2,400)

30,240

25

Sales A/c

9,000

15

Gursharan Bros.

30,000

10,000

27

Cash A/c

C

5,000

16

Wages A/c

500

25

Dinesh

21,000

27

Bank A/c

C

5,000

30

Salary A/c

15,000

30

Bank Charges A/c

50

30

Bank Interest A/c

1,200

31

Balance c/d

5,900

99,510

41,400

2,35,000

41,400

2,35,000

Feb. 1

Balance b/d

5,900

99,510

Purchases Book

Date

2017

Particulars

L.F.

Details ₹

Amount

Jan.

3

Raghuraj & Sons

80 Electric Kettles @ Rs 300/kettle

24,000

40 Electric Irons @ Rs 420/irons

16,800

40,800

Less: 20% Trade Discount

8,160

32,640

20

Dinesh

10 Washing Machines @ Rs 16,000/ washing .machine

1,60,000

4 Vacuum Cleaners @ Rs 6,000/ V. Cleaner

24,000

1,84,000

Less: 15% Trade Discount

27,600

1,56,400

31

Purchases A/c

Dr.

1,89,040

Sales Book

Date

2017

Particulars

L.F.

Details ₹

Amount

Jan

22

Charu

200 Electric Shavers @ Rs 250 /shaver

50,000

400 Toasters @ Rs 150 /toaster

60,000

450 Heaters @ Rs 200 / heater

90,000

2,00,000

Less: 10% Trade Discount

20,000

1,80,000

31

Sales A/c

Cr.

1,80,000

Purchases Return Book

Date

2017

Particulars

Debit

Note

No.

L.F.

Details ₹

Amount

Jan.

12

Raghuraj & Sons

10 Electric Kettles @ Rs 300/ kettle

3,000

Less: 20% Trade Discount

600

2,400

31

Purchases ReturnA/c

Dr.

2,400

Journal Proper

Date

2017

Particulars

L.F.

Debit

Credit

Jan.

1

Cash A/c

Stock A/c

Abhilash A/c

Bhuwan A/c

Charu A/c

Furniture A/c

Dr.

Dr.

Dr.

Dr.

Dr.

Dr.

12,400

3,60,000

20,000

30,000

52,000

2,25,000

To Bank Overdraft A/c

To Dinesh

To Ekta

To Capital A/c (balancing figure)

(Balance of previous brought forward)

38,000

15,000

25,000

6,21,400

6

Bills Receivable A/c

Dr.

20,000

To Abhilash

(Acceptance received for the amount due from him)

20,000

10

Computer A/c

Dr.

40,000

To Gurusharan Bros.

(Computers purchased on credit)

40,000

24

Discount Allowed A/c

Dr.

2,000

To Charu

(Discount of Rs 2,000 allowed to Charu)

2,000

25

Dinesh

Dr.

1,50,000

To Bills Payable A/c

(Acceptance given)

1,50,000

25

Dinesh

Dr.

400

To Discount Received A/c

(Discount of Rs 400 received on payment to Dinesh)

400

9,11,800

9,11,800

Question 17

Prepare a sales book of Mahesh Electronics from the following details.

2018

June 3

Sold to Ruchi Electronics, Bangalore, vide Invoice No.431

5colour T.V set @ ₹20,000 each

Less: Trade discount 20%

June 10

Sold to Garima Electronics, Jaipur, vide Invoice No 432

10 washing machine @₹8,000 each

Less: Trade Discount 25%

June 12

Sold to Raghav & Sons, Bangalore, vide cash memo no. 2510

6 color T.V sets @ ₹18,000 each less trade discount 15%

June 16

Sold to Nitin Company, M.P vide invoice no. 433

8 music system @ ₹15,000 each

10colour T.V set @ ₹22,000 each

Less: Trade discount 20%

Solution:

Date

2018

Particulars

Invoice No.

L.F

Details

Sales Amount

Output CGST

OutputSGST

Output IGST

Total

June 3

Ruchi Electronics, Kolkata:

431

5 colour T.V Sets @ ₹20,000 each

1,00,000

Less: Trade Discount @ 20%

20,000

80,000

Add: CGST@9%

SGST@9%

7,200

7,200

94,400

80,000

7,200

7,200

94,400

June 10

Garima Electronics

Jaipur

432

10 washing machines @ ₹8,000 each

80,000

Less: Trade discount @25%

20,000

60,000

Add: IGST@18%

10,800

70,800

60,000

10,800

70,800

June 16

Nitin Company, Bangalore

433

8 music systems @ ₹15,000 each

1,20,000

10 color T.V set @ ₹22,000 each

2,20,000

3,40,000

Less: Trade discount @20%

68,000

2,72,000

Add: IGST @18%

48,960

3,20,960

2,72,000

48,960

3,20,960

June 30

Total

4,12,000

7,200

7,200

59,760

4,86,160

Note: (1) Goods are sold to Raghav & Sons in cash. Therefore, it is not recorded in the sales book.

(2) At the time of posting into the Leger

  • Ruchi Electronics will be debited with ₹94,400
  • Garima Electronics will be debited with ₹70,800
  • Nitin Company will be debited with ₹3,20,960
  • Sales A/c will be credited with ₹4,12,000
  • Output CGST A/c will be credited with ₹7,200
  • Output SGST A/c will be credited with ₹7,200
  • Output IGST A/c will be credited with ₹59,760

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