DK Goel Solutions Chapter 13 Ledger

DK Goel Accountancy Class 11 Solutions Chapter 13 Ledger 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 13

Question 1

Journalise the following transactions, post them into Ledger, balance the accounts and prepare a Trial Balance :−

2017

(₹)

March 1

Shyam Sunder & Sons commenced business with cash

80,000

2

Purchased goods for cash

36,000

3

Machinery purchased for cash

4,000

4

Purchased goods from :

Raghu

22,000

Dilip

30,000

6

Returned goods to Raghu

4,000

8

Paid to Raghu, in full settlement of his account

17,500

10

Sold goods to Mahesh Chand & Co. for ₹ 32,000 at 5% trade discount

13

Received cash from Mahesh Chand & Co.

19,800

Discount allowed

200

15

Paid cash to Dilip

14,850

Discount received

150

20

Sold goods for cash

25,000

24

Sold goods for cash to Sudhir Ltd.

18,000

25

Paid for Rent

1,500

26

Received for Commission

2,000

28

Withdrawn by Proprietor for his personal use

5,000

28

Purchased a fan for Proprietor’s house

1,200

Solution:

Journal Books

Date

2017

Particulars

L.F.

Debit ₹

Credit ₹

March

1

Cash A/c

Dr.

80,000

To Capital A/c

(Started business with cash)

80,000

2

Purchases A/c

Dr.

36,000

To Cash A/c

(Purchased goods with cash)

36,000

3

Machinery A/c

Dr.

4,000

To Cash A/c

(Purchased machine with cash)

4,000

4

Purchases A/c

Dr.

52,000

To Raghu’s A/c

To Dilip’s A/c

(Purchased goods on credit from dilip and Raghu)

22,000

30,000

6

Raghu’s A/c

Dr.

4,000

To Purchases Return A/c

(Returned goods to Raghu)

4,000

8

Raghu’s A/c

Dr.

18,000

To Cash A/c

To Discount Received A/c

(Paid full settlement cash to Raghu)

17,500

500

10

Mahesh Chand & Co.

Dr.

30,400

To Sales A/c

30,400

(Sold goods to Mahesh Chand & Co. at trade discount)

13

Cash A/c

Discount Allowed A/c

Dr.

Dr.

19,800

200

To Mahesh Chand & Co.

(Received cash from Mahesh Chand & Co.)

20,000

15

Dilip’s A/c

Dr.

15,000

To Cash A/c

To Discount Received A/c

(Paid cash to Dilip)

14,850

150

20

Cash A/c

Dr.

25,000

To Sales A/c

(Sold goods for cash)

25,000

24

Cash A/c

Dr.

18,000

To Sales A/c

(Sold goods for cash)

18,000

25

Rent A/c

Dr.

1,500

To Cash A/c

(Paid rent)

1,500

26

Cash A/c

Dr.

2,000

To Commission A/c

(Receive commission)

2,000

28

Drawings A/c

Dr.

6,200

To Cash A/c

(Withdrawn cash and purchased fan for personal use)

6,200

TOTAL

3,12,100

3,12,100

Cash Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

March

March

1

Capital A/c

80,000

2

Purchases A/c

36,000

13

Mahesh Chand & Co.

19,800

3

Machinery A/c

4,000

20

Sales A/c

25,000

8

Raghu’s A/c

17,500

24

Sales A/c

18,000

15

Dilip’s A/c

14,850

26

Commission A/c

2,000

25

Rent A/c

1,500

28

Drawings A/c

6,200

31

Balance c/d

64,750

1,44,800

1,44,800

2017

Apr.1

Balance b/d

64,750

Capital Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount

Date

2017

Particulars

J.F.

Amount

March

March

31

Balance c/d

80,000

1

Cash A/c

80,000

80,000

80,000

Apr.1

Balance b/d

80,000

Purchases Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount

March

March

2

Cash A/c

36,000

31

Balance c/d

88,000

4

Raghu’s A/c

22,000

Dilip’s A/c

30,000

88,000

88,000

Apr.1

Balance b/d

88,000

Machinery Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount

Date

2017

Particulars

J.F.

Amount

March

March

3

Cash A/c

4,000

31

Balance c/d

4,000

4,000

4,000

Apr.1

Balance b/d

4,000

Raghu’s Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount

Dat

2017

Particulars

J.F.

Amount

March

March

6

Purchases Return A/c

4,000

4

Purchases A/c

22,000

8

Cash A/c

17,500

Discount Received A/c

500

22,000

22,000

Dilip’s Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount

Date

2017

Particulars

J.F.

Amount

March

March

15

Cash A/c

14,850

4

Purchases A/c

30,000

15

Discount Received A/c

150

31

Balance c/d

15,000

30,000

30,000

Apr.1

Balance b/d

15,000

Purchases Return Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount

Date

2017

Particulars

J.F.

Amount

March

March

31

Balance c/d

4,000

6

Raghu’s A/c

4,000

4,000

4,000

Apr.1

Balance b/d

4,000

Discount Received Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount

Date

Particulars

J.F.

Amount

March

2017

31

Balance c/d

650

8

Raghu’s A/c

500

15

Dilip’s A/c

150

650

650

Apr. 1

Balance b/d

650

Discount Allowed Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount

Date

2017

Particulars

J.F.

Amount

March

March

13

Mahesh Chand & Co.

200

31

Balance c/d

200

200

200

Apr.1

Balance b/d

200

Mahesh Chand & Co.

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

March

March

10

Sales A/c

30,400

13

Cash A/c

19,800

13

Discount Allowed A/c

200

31

Balance c/d

10,400

30,400

30,400

Apr.1

Balance b/d

10,400

Rent Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount

Date

Particulars

J.F.

Amount

March

March

25

Cash A/c

1,500

31

Balance c/d

1,500

1,500

1,500

Apr.1

Balance b/d

1,500

Commission Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount

Date

2017

Particulars

J.F.

Amount

March

March

31

Balance c/d

2,000

26

Cash A/c

2,000

2,000

2,000

Apr.1

Balance b/d

2,000

Drawings Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount

Date

2017

Particulars

J.F.

Amount

March

March

28

Cash A/c

6,200

31

Balance c/d

6,200

6,200

6,200

Apr.1

Balance b/d

6,200

Sales Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount

Date

2017

Particulars

J.F.

Amount

March

March

31

Balance c/d

73,400

10

Mahesh Chand & Co.

30,400

20

Cash A/c

25,000

24

Cash A/c

18,000

73,400

73,400

Apr.1

Balance b/d

73,400

Trial Balance as on March 31, 2017

Name of Accounts

L.F.

Debit Balances

Credit Balance

Cash A/c

64,750

Capital A/c

80,000

Purchases A/c

88,000

Machinery A/c

4,000

Dilip’s A/c

15,000

Purchases Return A/c

4,000

Discount Received A/c

650

Discount Allowed A/c

200

Mahesh Chand & Co.

10,400

Rent A/c

1,500

Commission A/c

2,000

Drawings A/c

6,200

Sales A/c

73,400

Total

1,75,050

1,75,050

Question 2

Following balances appeared in the books of Ram & Shyam on January 1, 2017 :−

Assets : Cash in hand ₹ 30,000; Stock ₹ 36,000; Lal Chand ₹ 7,600; Mukesh Khanna ₹ 16,200; Furniture ₹ 8,000.

Liabilities : Ghanshyam ₹ 6,000; Vinod ₹ 8,000.

Following transactions took place during Jan. 2017 :−

2017

Jan. 2

Purchased Typewriter for ₹ 7,500.

4

Sold goods for Cash of the list price of ₹ 25,000 at 20% trade discount and 5% Cash discount.

6

Sold goods to Gopal Seth for ₹ 10,000.

8

Gopal Seth returned goods for ₹ 1,500.

12

Purchased goods from Arun ₹ 12,000; and from Varun ₹ 15,000.

13

Settled Arun’s account in full after deducting 5% for cash discount.

14

Paid cash to Ghanshyam in full settlement of his account.

16

Received ₹ 7,500 from Lal Chand in full settlement of his account.

17

Purchased a Scooter for office use ₹ 18,000.

20

Sold goods for cash ₹ 20,000.

22

Received from Gopal Seth ₹ 4,850 and discount allowed ₹ 150.

27

Paid for Wages ₹ 7,000 and Salaries ₹ 3,000.

28

Withdrew goods for ₹ 2,000 and Cash ₹ 1,500 for private use.

29

Paid for Life Insurance Premium of the Proprietor ₹ 1,600.

Journalise the above transactions, post them into Ledger, balance them and prepare a Trial Balance.

Solution:

Journal Books of Ram & Shyam

Date

2017

Particulars

L.F.

Debit ₹

Credit ₹

Jan.

1

Cash in hand A/c

Stock A/c

Lal Chand’s A/c

Mukesh Khanna’s A/c

Furniture A/c

Dr.

Dr.

Dr.

Dr.

Dr.

30,000

36,000

7,600

16,200

8,000

To Ghanshyam’s A/c

To Vinod’s A/c

To Capital A/c (Balancing figure)

(Opening entry made)

6,000

8,000

83,800

2

Office Equipment A/c

Dr.

7,500

To Cash A/c

(Purchased typewritter)

7,500

4

Cash A/c

Discount Allowed A/c

Dr.

Dr.

19,000

1,000

To Sales A/c

(GSold goods at 20% trade discount for cash)

20,000

6

Gopal Seth’s A/c

Dr.

10,000

To Sales A/c

(Sold goods to Gopal Seth on credit)

10,000

8

Sales Return A/c

Dr.

1,500

To Gopal Seth’s A/c

(Returned goods)

1,500

12

Purchases A/c

Dr.

27,000

To Arun’s A/c

To Varun’s A/c

(Purchased goods on credit)

12,000

15,000

13

Arun’s A/c

Dr.

12,000

To Cash A/c

To Discount Received A/c

(Paid full settlement cash to Arun)

11,400

600

14

Ghanshyam’s A/c

Dr.

6,000

To Cash A/c

(Paid cash to Ghanshyam)

6,000

16

Cash A/c

Discount Allowed A/c

Dr.

Dr.

7,500

100

To Lal Chand’s A/c

(Cash received and discount allowed)

7,600

17

Scooter A/c

Dr.

18,000

To Cash A/c

(Purchased scooter)

18,000

20

Cash A/c

Dr.

20,000

To Sales A/c

(Sold goods for cash)

20,000

22

Cash A/c

Discount Allowed A/c

Dr.

Dr.

4,850

150

To Gopal Seth’s A/c

(Received cash and allowed discount)

5,000

27

Wages A/c

Salaries A/c

Dr.

Dr.

7,00

3,000

To Cash A/c

(Pais wages and salaries)

10,000

28

Drawings A/c

Dr.

3,500

To Purchases A/c

2,000

To Cash A/c

(Withdrawn amount)

1,500

29

Drawings A/c

Dr.

1,600

To Cash A/c

(Life insurance premium paid )

1,600

TOTAL

2,47,500

2,47,500

Cash Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan

Jan

1

Balance c/d

30,000

2

Typewriter A//c

7,500

4

Sales A/c

19,000

13

Arun’s A/c

11,400

6

Lal Chand’s A/c

7,500

14

Ghanshyam’s A/c

6,000

20

Sales A/c

20,000

17

Scooter A/c

18,000

26

Gopal Seth’s A/c

4,850

27

Wages A/c

7,000

27

Salaries A/c

3,000

28

Drawings A/c

1,500

29

Drawings A/c

1,600

31

Balance c/d

25,350

81,350

81,350

Feb.1

Balance b/d

25,350

Stock Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan

Jan

1

Balance b/d

36,000

J31

Balance c/d

36,000

36,000

36,000

Feb.1

Balance b/d

36,000

Lal Chand’s A/c

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan

Jan

1

Balance b/d

7,600

6

Cash A/c

7,500

Discount Allowed

100

7,600

7,600

Mukesh Khanna’s A/c

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan

Jan

1

Balance b/d

16,200

31

Balance c/d

16,200

16,200

16,200

Jan.1

Balance b/d

16,200

Furniture Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

1

Balance b/d

8,000

31

Balance c/d

8,000

8,000

8,000

Feb.1

Balance b/d

8,000

Ghanshyam’s A/c

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

2017

14

Cash A/c

6,000

1

Balance b/d

6,000

6,000

6,000

Vinod’s A/c

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan

Jan

31

Balance c/d

8,000

J1

Balance b/d

8,000

8,000

8,000

Feb.1

Balance b/d

8,000

Capital Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

31

Balance c/d

83,800

1

Balance b/d

83,800

83,800

83,800

Feb.1

Balance b/d

83,800

Office Equipment Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

2

Cash A/c

7,500

31

Balance c/d

7,500

7,500

7,500

Feb.1

Balance b/d

7,500

Discount Allowed Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

4

Sales A/c

1,000

31

Balance c/d

1,250

16

Lal Chand’s A/c

100

22

Gopal Seth’s A/c

150

1,250

1,250

Feb.1

Balance b/d

1,250

Sales Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

31

Balance c/d

50,000

4

Cash A/c

19,000

4

Discount Allowed A/c

1,000

6

Gopal Seth’s A/c

10,000

20

Cash A/c

20,000

50,000

50,000

2017

Feb.1

Balance b/d

50,000

Gopal Seth’s A/c

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

6

Sales A/c

10,000

8

Sales Return A/c

1,500

22

Cash A/c

4,850

22

Discount Allowed

150

31

Balance c/d

3,500

10,000

10,000

Feb.1

Balance b/d

3,500

Sales Return Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

8

Gopal Seth’s A/c

1,500

31

Balance c/d

1,500

1,500

1,500

1

Balance b/d

1,500

Purchases Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

12

Arun’s A/c

12,000

28

Drawings A/c

2,000

Varun’s A/c

15,000

31

Balance c/d

25,000

27,000

27,000

Feb.1

Balance b/d

25,000

Arun’s A/c

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

13

Cash A/c

11,400

12

Purchases A/c

12,000

13

Discount Received A/c

600

12,000

12,000

Varun’s A/c

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

31

Balance c/d

15,000

12

Purchases A/c

15,000

15,000

15,000

Feb. 1

Balance b/d

15,000

Discount Received Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

31

Balance c/d

600

J13

Arun’s A/c

600

600

600

1

Balance b/d

600

Scooter Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

17

Cash A/c

18,000

31

Balance c/d

18,000

18,000

18,000

Feb.1

Balance b/d

18,000

Wages Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

27

Cash A/c

7,000

31

Balance c/d

7,000

7,000

7,000

Feb.1

Balance b/d

7,000

Salaries Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

27

Cash A/c

3,000

31

Balance c/d

3,000

3,000

3,000

Feb.1

Balance b/d

3,000

Drawings Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

28

Purchases A/c

2,000

31

Balance c/d

5,100

28

Cash A/c

1,500

.29

Cash A/c

1,600

5,100

5,100

Feb.1

Balance b/d

5,100

Trial Balance

as on Jan. 31, 2017

Name of Accounts

L.F.

Debit

Balances ₹

Credit

Balances ₹

Cash A/c

25,350

Stock A/c

36,000

Mukesh Khanna’s A/c

16,200

Furniture A/c

8,000

Vinod’s A/c

8,000

Capital A/c

83,800

Office Equipment A/c

7,500

Discount Allowed A/c

1,250

Sales A/c

50,000

Gopal Seth’s A/c

3,500

Sales Return A/c

1,500

Purchases A/c

25,000

Varun’s A/c

15,000

Discount Received A/c

600

Scooter A/c

18,000

Wages A/c

7,000

Salaries A/c

3,000

Drawings A/c

5,100

Total

1,57,400

1,57,400

Question 3

Prepare Journal Entries of the following postings :-

(I) Dr.

PURCHASES A/C

Cr.

To Cash A/c

2,000

(II) Dr.

SALARIES A/C

Cr.

To Cash A/c

1,500

(III) Dr.

INTEREST A/C

Cr.

By Cash A/c

800

(IV) Dr.

MOHAN

Cr.

To Cash A/c

5,000

Solution:

Journal Books

Date

Particulars

L.F.

Debit ₹

Credit ₹

(I)

Purchases A/c

Dr.

2,000

To Cash A/c

2,000

(Purchased goods with cash f)

(II)

Salaries A/c

Dr.

1,500

To Cash A/c

1,500

(Paid salary in cash)

(III)

Cash A/c

Dr.

800

To Interest A/c

800

(Interest received in cash)

(IV)

Mohan’s A/c

Dr.

5,000

To Cash A/c

5,000

(Paid cash to Mohan)

Question 4

Enter the following transactions in a Double Column Cash Book and Journal Proper and post them into Ledger ∶

May 1

Balance of Cash in Hand ₹ 12,400; Bank Overdraft ₹ 36,000.

3

Direct deposit by Mr. Ganesh in our bank account ₹ 10,000. Discount allowed ₹ 200.

5

Issued a cheque of ₹ 7,700 to Mr. Suresh in full settlement of his account of ₹ 8,000.

6

Received a cheque from X for ₹ 12,000. Discount allowed ₹ 500. This cheque was deposited into bank on 7th May.

8

Received Cash ₹ 22,000 and cheque of ₹ 8,000 for cash sale.

12

Cash sale ₹ 70,000 of which ₹ 55,000 banked.

15

Cheque received on 8th May endorsed to Mr. Sunil. Discount received ₹ 150.

20

Discounted a B/R of ₹ 10,000 at 1% through bank.

24

Cheque received from X dishonoured, Bank debits ₹ 20 in respect of bank charges.

25

Purchased goods for ₹ 50,000 at a trade discount of 10%. Payment was made in cash.

26

Withdrew from bank ₹ 10,000 for office use and ₹ 2,000 for personal use.

31

Interest debited by Bank ₹ 4,500.

Solution:

Cash Book

Dr.

Date

May

Particulars

L.F.

Cash ₹

Bank ₹

Date

May

Particulars

L.F.

Cash

Bank

1

Balance b/d

12,400

1

Balance b/d

36,000

3

Ganesh’s A/c

10,000

5

Suresh’s A/c

7,700

7

Cheques-in-hand A/c

12,000

24

X’s A/c

12,000

8

Sales A/c

22,000

24

Bank Charges A/c

20

12

Sales A/c

15,000

55,000

25

Purchases A/c

45,000

20

Bills Receivable A/c

9,900

26

Cash A/c

C

10,000

26

Bank A/c

C

10,000

26

Drawings A/c

2,000

31

Interest A/c

4,500

31

Balance c/d

14,400

14,680

59,400

86,900

59,400

86,900

June 1

Balance b/d

14,400

14,680

Journal

Date

Particulars

L.F.

Debit ₹

Credit ₹

May 6

Cheques-in-Hand A/c

Dr.

12,000

Discount Allowed A/c

Dr.

500

To X’s A/c

(Received cheque from X but not deposited)

12,500

May 8

Cheques-in-Hand A/c

Dr.

8,000

To Sales A/c

(Received cheque from sales but not deposited)

8,000

May 15

Sunil’s A/c

Dr.

8,150

To Cheques-in-Hand A/c

To Discount Received A/c

(Received sales cheque endorsed to Sunil)

8,000

150

May 20

Discounting Charges A/c

Dr.

100

To Bills Receivable A/c

(Receivable bill discounted with bank)

100

May 24

X’s A/c

Dr.

500

To Discount Allowed A/c

(Discount was cancelled)

500

Discount Allowed Account

Dr.

Cr.

Date

May

Particulars

J.F.

Amount ₹

Date

May

Particulars

J.F.

Amount ₹

3

Ganesh’s A/c

200

24

X’s A/c

500

6

X’s A/c

500

31

Balance c/d

200

700

700

June 1

Balance b/d

200

Discount Received Account

Dr.

Cr.

Date

Particulars

J.F.

Amount ₹

Date

Particulars

J.F.

Amount ₹

May 31

Balance c/d

450

May 5

Suresh’s A/c

300

May 15

Sunil’s A/c

150

450

450

June 1

Balance b/d

450

Cheques-in-Hand Account

Dr.

Cr.

Date

Particulars

J.F.

Amount ₹

Date

Particulars

J.F.

Amount ₹

May 6

X’s A/c

12,000

May 7

Bank A/c

12,000

May 8

Sales A/c

8,000

May 15

Sunil’s A/c

8,000

20,000

20,000

Discounting Charges Account

Dr.

Cr.

Date

Particulars

J.F.

Amount ₹

Date

Particulars

J.F.

Amount ₹

May 20

Bills Receivable A/c

100

May 31

Balance c/d

100

100

100

June 1

Balance b/d

100

Bills Receivable Account

Dr.

Cr.

Date

Particulars

J.F.

Amount ₹

Date

Particulars

J.F.

Amount ₹

May 31

Balance c/d

10,000

May 20

Bank A/c

9,900

May 20

Discounting Charges A/c

100

10,000

10,000

June 1

Balance b/d

100

Ganesh’s Account

Dr.

Cr.

Date

Particulars

J.F.

Amount ₹

Date

Particulars

J.F.

Amount ₹

May 31

Balance c/d

10,200

May 3

Bank A/c

10,000

May 3

Discount Allowed A/c

200

10,200

10,200

June 1

Balance b/d

10,200

X’s Account

Dr.

Cr.

Date

Particulars

J.F.

Amount ₹

Date

Particulars

J.F.

Amount ₹

May 24

Discount Allowed A/c

500

May 6

Cheques-in-Hand A/c

12,000

May 24

Bank A/c

12,000

May 6

Discount Allowed A/c

500

12,500

12,500

Suresh’s Account

Dr.

Cr.

Date

Particulars

J.F.

Amount ₹

Date

Particulars

J.F.

Amount ₹

May 5

Bank A/c

7,700

May 31

Balance c/d

8,000

May 5

Discount Received A/c

300

8,000

8,000

June 1

Balance b/d

8,000

Sales Account

Dr.

Cr.

Date

Particulars

J.F.

Amount ₹

Date

Particulars

J.F.

Amount₹

May 31

Balance c/d

1,00,000

May 8

Cash A/c

22,000

May 8

Cheques-in-Hand A/c

8,000

May 15

Cash A/c

15,000

May 15

Bank A/c

55,000

1,00,000

1,00,000

June 01

Balance b/d

1,00,000

Bank Charges Account

Dr.

Cr.

Date

Particulars

J.F.

Amount ₹

Date

Particulars

J.F.

Amount ₹

May 24

Bank A/c

20

May 31

Balance c/d

20

20

20

June 1

Balance b/d

20

Purchases Account

Dr.

Cr.

Date

Particulars

J.F.

Amount ₹

Date

Particulars

J.F.

Amount ₹

May 25

Bank A/c

45,000

May 31

Balance c/d

45,000

45,000

45,000

June 1

Balance b/d

45,000

Drawings Account

Dr.

Cr.

Date

Particulars

J.F.

Amount ₹

Date

Particulars

J.F.

Amount ₹

May 26

Bank A/c

2,000

May 31

Balance c/d

2,000

2,000

2,000

June 1

Balance b/d

2,000

Interest Account

Dr.

Cr.

Date

Particulars

J.F.

Amount ₹

Date

Particulars

J.F.

Amount ₹

May 31

Bank A/c

4,500

May 31

Balance c/d

4,500

4,500

4,500

June 1

Balance b/d

4,500

Sunil’s Account

Dr.

Cr.

Date

Particulars

J.F.

Amount ₹

Date

Particulars

J.F.

Amount ₹

May 15

Cheques-in-Hand A/c

8,000

May 31

Balance c/d

8,150

May 15

Discount Received A/c

150

8,150

8,150

June 1

Balance b/d

8,150

Question 5

Record the following transaction in the Purchases Book of Modern Furniture House, New Delhi assuming CGST @ 6% and SGST @ 6% and post it into Ledger:

2017

Nov. 3

Purchased goods from Sachdeva Furniture Store, New Delhi :

50 Chairs @ ₹ 2,000 each

5 Tables @ ₹ 10,000 each

Less: 10% Trade Discount

10

Purchased furniture from Mahadeva & Co., Jaipur (Rajasthan) valued ₹ 2,00,000, less \(12\frac{1}{2}\)% Trade Discount.

18

Purchased furniture from Fashion Furniture House, Chandigarh of the list price of ₹ 2,50,000, less 15%.

20

Purchased from India Furniture House, New Delhi :

100 Chairs @ ₹ 1,800 each

25

Purchased from Mohan Lal & Sons furniture of the value of ₹ 20,000 for cash.

Solution:

Purchases Book of Modern Furniture House, New Delhi

Date

2017

Particulars

L.F.

Details ₹

Purchases ₹

Input CGST

Input SGST

Input IGST

Total

2017

Nov. 03

Sachdeva Furniture Store, New Delhi

50 Chairs @ Rs 2,000 each

1,00,000

05 Tables @ Rs 10,000 each

50,000

1,50,000

Less: 10% Trade Discount

15,000

1,35,000

Add: 12% IGST

16,200

1,51,200

1,35,000

16,200

1,51,200

Nov. 10

Mahadeva & Co.,Jaipur (Rajasthan)

2,00,000

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

25,000

1,75,000

Add: 6% CGST

10,500

6% SGST

10,500

1,96,000

1,75,000

10,500

10,500

1,96,000

Nov. 18

Fashion Furniture House, Chandigarh (Punjab)

2,50,000

Less: 15% Discount

37,500

2,12,500

Add: 6% CGST

12,750

6% SGST

12,750

2,38,000

2,12,500

12,750

12,750

2,38,000

Nov. 20

India Furniture House, New Delhi

100 Chairs @ 1,800 each

1,80,000

Add: 12% IGST

21,600

2,01,600

1,80,000

21,600

2,01,600

Nov. 30

Purchases A/c

Dr.

7,02,500

23,250

23,250

37,800

7,86,800

Purchases Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

Particulars

J.F.

Amount ₹

Nov.

30

Sundries as per Purchases Book

7,02,500

Sachdeva Furniture Store Account

Dr.

Cr.

Date

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Nov

3

Purchases A/c

1,35,000

3

Input IGST A/c

16,200

Mahadeva & Co. Account

Dr.

Cr.

Date

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Nov.

10

Purchases A/c

1,75,000

10

Input CGST A/c

10,500

10

Input SGST A/c

10,500

Fashion Furniture House Account

Dr.

Cr.

Date

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Nov.

18

Purchases A/c

2,12,500

18

Input CGST A/c

12,750

18

Input SGST A/c

12,750

India Furniture House Account

Dr.

Cr.

Date

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Nov.

20

Purchases A/c

1,80,000

20

Input IGST A/c

21,600

Note: (i)Transaction made on 25th Nov will not be registered in the purchases book as the purchase was made in cash.

(ii) According to the textbook, Input CGST, Input SGST, and Input IGST are Rs.18,900, 18,900 and Rs.46,500 respectively. However, to our calculation Input CGST, Input SGST and Input IGST are Rs.23,250, 2,250 and Rs.37,800 respectively.

Question 6

Record the following transaction in the Sales Book of Karunakaran & Sons, Chennai (Tamilnadu) assuming CGST @ 90% and SGST @ 9% and post them into Ledger :-

2017

Dec. 5

Sold of M/s Banwari Lal & Sons, Chennai, goods valued at ₹ 2,00,000 less Trade Discount 10%.

10

Sold to M/s Kanti Bhai & Sons, Bengaluru (Karnataka) :

75 Electric Fans @ ₹ 4,000 each

20 Room Coolers @ ₹ 10,000 each

Less: Trade Discount 8%

16

Mahindra & Co., Kochi (Kerala) purchased from us goods of ₹ 1,20,000, less: 5%.

24

Sold goods for cash ₹ 60,000.

Solution:

Sales Book of Karunakaran & Sons, Chennai (Tamilnadu)

Date

2017

Particulars

L.F.

Details ₹

Sales ₹

Output CGST

Output SGST

Output IGST

Total

Dec.

5

M/s Banwari Lal & Sons, Chennai

2,00,000

Less: 10% Trade Discount

20,000

1,80,000

Add: 9% CGST

16,200

9% SGST

16,200

2,12,400

1,80,000

16,200

16,200

2,12,400

10

M/s Kanti Bhai & Sons, Bengaluru (Karnataka)

75 Electric Fans @ Rs 4,000 each

3,00,000

20 Room Coolers @ Rs 10,000 each

2,00,000

5,00,000

Less: 8% Trade Discount

40,000

4,60,000

Add: 18% IGST

82,800

5,42,800

4,60,000

82,800

5,42,800

16

Mahindra & Co., Kochi (Kerala)

1,20,000

Less: 5% Trade Discount

6,000

1,14,000

Add: 18% IGST

20,520

1,34,520

1,14,000

20,520

1,34,520

31

7,54,000

16,200

16,200

1,03,320

8,89,720

Sales Account

Dr.

Cr.

Date

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Dec.

31

Sundries as per Sales Book

7,54,000

M/s Banwari Lal & Sons

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

Particulars

J.F.

Amount ₹

Dec.

5

Sales A/c

1,80,000

5

Output CGST A/c

16,200

5

Output SGST A/c

16,200

M/s Kanti Bhai & Sons Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

Particulars

J.F.

Amount ₹

Dec.

10

Sales A/c

4,60,000

10

Output IGST A/c

82,800

Mahindra & Co. Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

Particulars

J.F.

Amount ₹

Dec.

16

Sales A/c

1,14,000

16

Output IGST A/c

20,520

Note: Transaction made on 24th December will not be registered in the sales book as it is a cash transaction.

Question 7

Enter the following transactions in Return Outward Book of Modern Furniture House, Udaipur (Rajasthan) assuming CGST @ 6% and SGST @ 6% and post it into Ledger.

2017

Nov. 7

Returned to Sachdeva Furniture Store, Ahmedabad (Gujarat) :

5 Chairs @ ₹ 2,000 each

1 Table for ₹ 15,000

Less: 10% Trade Discount

22

Returned 8 Chairs to India Furniture House, Jodhpur (Rajasthan) @ ₹ 1,500 each, being not of specified quality.

24

Returned one Dining Table to Arora & Co., Jaipur (Rajasthan) being not according to sample ₹ 50,000.

28

Allowance claimed from Delhi Furniture Shop, Ahmedabad (Gujarat) on account of a mistake in the invoice ₹ 16,000.

Solution:

Purchases Return Book of Modern Furniture House, Udaipur

Date

2017

Particulars

Debit Note No.

L.F.

Details ₹

Purchases Return

Input CGST

Input SGST

Input IGST

Total ₹

Nov.

7

Sachdeva Furniture Store, Ahmedabad (Gujarat)

5 Chairs @ 2,000 each

10,000

1 Table for Rs 15,000

15,000

25,000

Less: 10% Trade Discount

2,500

22,500

Add: 12% IGST

2,700

25,200

22,500

2,700

25,200

22

India Furniture House, Jodhpur (Rajasthan)

8 Chairs @ Rs 1,500 per Chair

12,000

Add: 6% CGST

720

6% SGST

720

13,440

12,000

720

720

13,440

24

Arora & Co, Jaipur (Rajasthan)

1 Dining Tables @ Rs 50,000 each

50,000

Add: 6% CGST

3,000

6% SGST

3,000

56,000

50,000

3,000

3,000

56,000

28

Delhi Furniture Shop, Ahmedabad (Gujarat)

16,000

Add: 12% IGST

1,920

17,920

16,000

1,920

17,920

30

1,00,500

3,720

3,720

4,620

1,12,560

Purchases Return Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Nov

30

Sundries as per Purchases Return Book

1,00,500

India Furniture House Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount

Date

Particulars

J.F.

Amount

Nov.

22

Purchases Return A/c

12,000

22

Input CGST A/c

720

22

Input SGST A/c

720

Delhi Furniture Shop Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount

Date

Particulars

J.F.

Amount

Nov.

28

Purchases Return A/c

16,000

28

Input IGST

1,920

Sachdeva Furniture Store Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount

Date

Particulars

J.F.

Amount

Nov.

7

Purchases Return A/c

22,500

7

Input IGST

2,700

Arora & Co. Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount

Date

Particulars

J.F.

Amount

Nov.

24

Purchases Return A/c

50,000

24

Input CGST A/c

3,000

24

Input SGST A/c

3,000

Question 8

Enter the following transactions in Return Inward Book of M/s Kanitkar & Co. of Mumbai (Maharashtra) assuming CGST @ 2.5% and SGST @ 2.5% and post it into Ledger:

2018

Jan. 5

Goods returned to us by Giriraj & Co., Pune (Maharashtra) worth ₹ 40,000, less than 10% trade discount.

10

Shah Brothers, Jaipur (Rajasthan) returned goods, being not according to sample ₹ 30,000.

16

Allowance claimed by Jai Singh & Co., Mathura (U.P) on account of a mistake in the invoice ₹ 10,000.

20

Good returned by Gopalsons, Mumbai being defective ₹ 20,000.

Solution:

Sales Return Book of M/s Kanitkar & Co. , Mumbai

Date

2018

Particulars

Credit Note No.

L.F.

Details ₹

Sales Return ₹

Output CGST

Output SGST

Output IGST

Total ₹

Jan.

5

Giriraj & Co., Pune (Maharashtra)

40,000

Less: 10% Trade Discount

4,000

36,000

Add: 2.5% CGST

900

2.5% SGST

900

37,800

36,000

900

900

37,800

10

Shah Brothers, Jaipur (Rajasthan)

30,000

Add: 5% IGST

1,500

31,500

30,000

1,500

31,500

16

Jai Singh & Co., Mathura (U.P.)

10,000

Add: 5% IGST

500

10,500

10,000

500

10,500

20

Gopalsons, Mumbai

20,000

Add: 2.5% CGST

500

2.5% SGST

500

21,000

20,000

500

500

21,000

31

Sales Return A/c

Dr.

96,000

1,400

1,400

2,000

1,00,800

Sales Return Account

Dr.

Cr.

Date

2018

Particulars

J.F.

Amount ₹

Date

Particulars

J.F.

Amount ₹

Jan.

31

Sundries as per Sales Return Book

96,000

Shah Brothers Account

Dr.

Cr.

Date

Particulars

J.F.

Amount ₹

Date

2018

Particulars

J.F.

Amount ₹

Jan.

10

Sales Return A/c

30,000

10

Output IGST

1,500

Gopalsons Account

Dr.

Cr.

Date

Particulars

J.F.

Amount ₹

Date

2018

Particulars

J.F.

Amount ₹

Jan.

20

Sales Return A/c

20,000

20

Output CGST

500

20

Output SGST

500

Giriraj & Co. Account

Dr.

Cr.

Date

Particulars

J.F.

Amount (₹)

Date

2018

Particulars

J.F.

Amount ₹

Jan.

5

Sales Return A/c

36,000

5

Output CGST

900

5

Output SGST

900

Jai Singh & Co. Account

Dr.

Cr.

Date

Particulars

J.F.

Amount ₹

Date

2018

Particulars

J.F.

Amount ₹

Jan.

16

Sales Return A/c

10,000

16

Output IGST

500

Question 9

Enter the following transactions in proper Subsidiary Books and post them into Ledger :−

2017

March 2

Purchased from Navrang Traders for ₹ 8,300

3

Sold goods to Rohan for ₹ 3,200

5

Bought of Ruchi Traders for ₹ 12,100

8

Rohan returns the goods for ₹ 600

10

Purchased goods from Jaipur Stores of the list price of ₹ 15,400 less 5% Trade Discount

12

Sold goods to Arun Traders for ₹ 18,000 less 15% Trade Discount

12

Bought of Amit Traders for ₹ 10,000

16

Purchased Machinery from Kirloskar Ltd. ₹ 20,000

18

Returned goods to Jaipur Stores for ₹ 800 less 5% Trade Discount.

19

Arun Traders returned goods for ₹ 3,000, less 15% Trade Discount

20

Sales to Kalpna & Co. for ₹ 14,700

22

Purchased goods from Navrang Traders ₹ 25,000

25

Returns outward to Navrang Traders for ₹ 1,200

26

Sales to Rupa Traders for ₹ 10,000 less 10% Trade Discount

29

Returns inward from Kalpana & Co. for ₹ 2,000

Solution :

Purchases Book

Date

2017

Particulars

L.F.

Details ₹

Amount ₹

March

2

Navrang Traders

8,300

5

Ruchi Traders

12,100

10

Jaipur Stores

15,400

Less: 5% Trade Discount

770

14,630

12

Amit Traders

10,000

22

Navrang Traders

25,000

31

Purchases A/c

Dr.

70,030

Sales Book

Date

2017

Particulars

L.F.

Details ₹

Amount ₹

March

3

Rohan

3,200

12

Arun Traders

18,000

Less: 15% Trade Discount

2,700

15,300

20

Kalpana & Co.

14,700

26

Rupa Traders

10,000

Less: 10% Trade Discount

1,000

9,000

31

Sales A/c

Cr.

42,200

Purchases Return Book

Date

2017

Particulars

Debit Note No.

L.F.

Details ₹

Amount ₹

March

18

Jaipur Stores

800

Less: 5% Trade Discount

40

760

25

Navrang Traders

1,200

31

Purchases Return A/c

Cr.

1,960

Sales Return Book

Date

2017

Particulars

Credit Note No.

L.F.

Details ₹

Amount ₹

March

8

Rohan

600

19

Arun Traders

3,000

Less: 15% Trade Discount

450

2,550

29

Kalpana & Co.

2,000

31

Sales Return A/c

Dr.

5,150

Purchases Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount

Date

Particulars

J.F.

Amount

March

31

Sundries as per Purchases Book

70,030

Navrang Traders Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount

Date

2017

Particulars

J.F.

Amount

March

March

25

Purchases Return A/c

1,200

2

Purchases A/c

8,300

22

Purchases A/c

25,000

Ruchi Traders Account

Dr.

Cr.

Date

Particulars

J.F.

Amount

Date

2017

Particulars

J.F.

Amount

March

5

Purchases A/c

12,100

Amit Traders Account

Dr.

Cr.

Date

Particulars

J.F.

Amount

Date

2017

Particulars

J.F.

Amount

March

12

Purchases A/c

10,000

Jaipur Stores Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount

Date

2017

Particulars

J.F.

Amount

March

March

18

Purchases Return A/c

760

10

Purchases A/c

14,630

Sales Account

Dr.

Cr.

Date

Particulars

J.F.

Amount

Date

2017

Particulars

J.F.

Amount

March

31

Sundries as per Sales Book

42,200

Rohan’s Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount

Date

Particulars

J.F.

Amount

March

2017

3

Sales A/c

3,200

8

Sales Return A/c

600

Arun Traders Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount

Date

2017

Particulars

J.F.

Amount

March

March

12

Sales A/c

15,300

19

Sales Return A/c

2,550

Kalpana & Co. Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount

Date

2017

Particulars

J.F.

Amount

March

2017

20

Sales A/c

14,700

29

Sales Return A/c

2,000

Rupa Traders Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount

Date

Particulars

J.F.

Amount

March

26

Sales A/c

9,000

Purchases Return Account

Dr.

Cr.

Date

Particulars

J.F.

Amount

Date

2017

Particulars

J.F.

Amount

March

31

Sundries as per Purchases Return Book

1,960

Sales Return Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount

Date

Particulars

J.F.

Amount

March

31

Sundries as per Sales Return Book

5,150

Question 10

Enter the following transactions in subsidiary books, post them into Ledger and prepare a Trial Balance:

The following balances existed in Sunil Bros. books on April 1, 2017:

Assets : Cash in hand ₹ 27,500; Bank Balance ₹ 40,000; Debtors : Ashok ₹ 18,000, Bahadur ₹ 25,000, Charu ₹ 30,000; Stock ₹ 1,60,000 and Furniture ₹ 40,000.

Liabilities : Creditors : Dinesh ₹ 20,000 and Ekta ₹ 15,000.

April 1

Cash Sales ₹ 18,000

2

Deposited into Bank ₹ 20,000

3

Purchased from Dinesh

300 metres Cotton @ ₹ 60 per metre

200 metres Silk @ ₹ 100 per metre

Cheque issued to Dinesh for ₹ 25,000

6

Accepted a bill at one month for ₹ 15,000 drawn by Dinesh

8

Sold to Ashok :

400 metres Cotton @ ₹ 80 per metre

250 metres Silk @ ₹ 140 per metre

10

Returned by Ashok 50 metres Silk.

12

Received Cash ₹ 8,000 and a Cheque for ₹ 40,000 from Ashok. Cheque was immediately sent to Bank.

13

Received a B/R from Bahadur for ₹ 20,000 at one month.

15

Accepted a bill at two months drawn by Ekta for the amount due to her

16

Purchased a Computer for office use from Shiva Ltd. for ₹ 45,000 on Credit

18

Cash purchases ₹ 10,000

19

Received full payment from Charu by cheque, sent it to Bank. Discount allowed 2%

20

Issued a cheque to Dinesh in full payment of his account after deducting 1% discount

22

Settled the account of Shiva Ltd. by a cheque

24

Proprietor took away goods worth ₹ 5,000 and Cash ₹ 6,000

25

Purchased from Ganesh 200 metres Cotton @ ₹ 70 per metre subject to trade discount of 5%

27

Paid Rent ₹ 3,000 and Salaries ₹ 8,000

30

Interest allowed by bank ₹ 600

Solution:

Cash Book

Dr.

Cr.

Date

2017

Particulars

L.F.

Cash ₹

Bank ₹

Date

2017

Particulars

L.F.

Cash ₹

Bank ₹

April

April

1

Balance b/d

27,500

40,000

2

Bank A/c

C

20,000

1

Sales A/c

18,000

5

Dinesh’s A/c

25,000

2

Cash A/c

C

20,000

18

Purchases A/c

10,000

12

Ashok’s A/c

8,000

40,000

20

Dinesh’s A/c

17,820

19

Charu’s A/c

29,400

22

Shiva Ltd.

45,000

30

Interest A/c

600

24

Drawings A/c

6,000

27

Rent A/c

3,000

27

Salaries A/c

8,000

30

Balance c/d

6,500

42,180

53,500

1,30,000

53,500

1,30,000

May 1

Balance b/d

6,500

42,180

Purchases Book

Date

2017

Particulars

L.F.

Details ₹

Amount ₹

April

3

Dinesh

300 metres Cotton @Rs 60/ metre

18,000

200 metres Silk @Rs 100/ metre

20,000

38,000

25

Ganesh

200 metres Cotton @Rs 70/ metre

14,000

Less: 5% Trade Discount

700

13,300

30

Purchases A/c

Dr.

51,300

Sales Book

Date

2017

Particulars

L.F.

Details ₹

Amount ₹

April

8

Ashok

400 metres Cotton @Rs 80 / metre

32,000

250 metres Silk @Rs 140/ metre

35,000

67,000

30

Sales A/c

Cr.

67,000

Sales Return Book

Date

2017

Particulars

Credit Note No.

L.F.

Details ₹

Amount ₹

April

10

Ashok

50 metres Silk @Rs 140 / metre

7,000

7,000

30

Sales Return A/c

Dr.

7,000

Journal

Date

2017

Particulars

L.F.

Debit ₹

Credit ₹

April

1

Cash in hand A/c

Dr.

27,500

Bank A/c

Dr.

40,000

Stock A/c

Dr.

1,60,000

Ashok’s A/c

Dr.

18,000

Bahadur’s A/c

Dr.

25,000

Charu’s A/c

Dr.

30,000

Furniture

Dr.

40,000

To Dinesh’s A/c

20,000

To Ekta’s A/c

15,000

To Capital A/c (Balancing Figure)

3,05,500

(Previous year balance was brought forward)

6

Dinesh’s A/c

Dr.

15,000

To Bills Payable A/c

15,000

(Bill drawn acceptance given to Dinesh)

13

Bills Receivable A/c

Dr.

20,000

To Bahadur’s A/c

20,000

(Receive bills receivable from debtor, Bahadur)

15

Ekta’s A/c

Dr.

15,000

To Bills Payable A/c

15,000

(Acceptance given for bill drawn by Ekta)

16

Computer A/c

Dr.

45,000

To Shiva Ltd.

45,000

(Purchased computer on credit)

19

Discount Allowed A/c

Dr.

600

To Charu

600

(Charu was allowed 2% allowed)

20

Dinesh

Dr.

180

To Discount Received A/c

180

(Dinesh received 1% received)

24

Drawings A/c

Dr.

5,000

To Purchases A/c

5,000

(Withdrawn goods by proprietor)

TOTAL

4,41,280

4,41,280

Sales Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

April

April

30

Balance c/d

85,000

1

Cash A/c

18,000

30

Sundries as per Sales Book

67,000

85,000

85,000

May 1

Balance b/d

85,000

Ashok’s Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

April

April

1

Balance b/d

18,000

12

Cash A/c

8,000

8

Sales A/c

67,000

12

Bank A/c

40,000

10

Sales Return A/c

7,000

30

Balance c/d

30,000

85,000

85,000

May 1

Balance b/d

30,000

Charu’s Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

April

April

1

Balance b/d

30,000

19

Bank A/c

29,400

19

Discount Allowed A/c

600

30,000

30,000

Interest Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

April

April

30

Balance c/d

600

30

Bank A/c

600

600

600

May 01

Balance b/d

600

Dinesh’s Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

April

April

5

Bank A/c

25,000

1

Balance b/d

20,000

6

Bills Payable A/c

15,000

3

Purchases A/c

38,000

20

Bank A/c

17,820

20

Discount Received A/c

180

58,000

58,000

Shiva Ltd. Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

April

April

22

Bank A/c

45,000

16

Computer A/c

45,000

45,000

45,000

Purchases Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

April

April

18

Cash A/c

10,000

24

Drawings A/c

5,000

30

Sundries as per Purchases Book

51,300

30

Balance c/d

56,300

61,300

61,300

May 1

Balance b/d

56,300

Drawings Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

April

April

24

Cash A/c

6,000

30

Balance c/d

11,000

24

Purchases A/c

5,000

11,000

11,000

May 01

Balance b/d

11,000

Rent Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

April

April

27

Cash A/c

3,000

30

Balance c/d

3,000

3,000

3,000

May 1

Balance b/d

3,000

Ganesh’s Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

April

April

30

Balance c/d

13,300

25

Purchases A/c

13,300

13,300

13,300

May 1

Balance b/d

13,300

Bahadur’s Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

April

April

1

Balance b/d

25,000

13

Bills Receivable A/c

20,000

30

Balance c/d

5,000

25,000

25,000

May 1

Balance b/d

5,000

Salaries Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

April

April

27

Cash A/c

8,000

30

Balance c/d

8,000

8,000

8,000

May 01

Balance b/d

8,000

Sales Return Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

April

April

30

Sundries as per Sales Return Book

7,000

30

Balance c/d

7,000

7,000

7,000

May 1

Balance b/d

7,000

Stock Account

Dr.

Cr.

Dat

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

April

April

1

Balance b/d

1,60,000

30

Balance c/d

1,60,000

1,60,000

1,60,000

May 1

Balance b/d

1,60,000

Furniture Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

April

April

1

Balance b/d

40,000

30

Balance c/d

40,000

40,000

40,000

May 1

Balance b/d

40,000

Ekta’s Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

April

April

15

Bills Payable A/c

15,000

30

Balance b/d

15,000

15,000

15,000

Bills Payable Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

D

2017

Particulars

J.F.

Amount ₹

April

April

30

Balance c/d

30,000

6

Dinesh’s A/c

15,000

15

Ekta’s A/c

15,000

30,000

30,000

May 1

Balance b/d

30,000

Computer Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

April

April

16

Shiva Ltd.

45,000

30

Balance c/d

45,000

45,000

45,000

May 1

Balance b/d

45,000

Discount Allowed Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

April

April

19

Charu’s A/c

600

30

Balance c/d

600

600

600

May 1

Balance b/d

600

Bills Receivable Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

April

April

13

Bahadur’s A/c

20,000

30

Balance c/d

20,000

20,000

20,000

May 1

Balance b/d

20,000

Capital Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

April

April

30

Balance c/d

3,05,500

1

Balance b/d

3,05,500

3,05,500

3,05,500

May 1

Balance b/d

3,05,000

Discount Received Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

April

April

30

Balance c/d

180

20

Dinesh’s A/c

180

180

180

May 1

Balance b/d

180

Trial Balance as on April 30, 2017

Name of Accounts

L.F

Debit ₹

Credit ₹

Cash A/c

6,500

Bank A/c

42,180

Sales A/c

85,000

Ashok’s A/c

30,000

Interest A/c

600

Purchases A/c

56,300

Drawings A/c

11,000

Rent A/c

3,000

Salaries A/c

8,000

Ganesh’s A/c

13,300

Sales Return A/c

7,000

Bahadur’s A/c

5,000

Stock A/c

1,60,000

Furniture A/c

40,000

Bills Receivable A/c

20,000

Bills Payable A/c

30,000

Computer A/c

45,000

Capital A/c

3,05,500

Discount Allowed

600

Discount Received

180

TOTAL

4,34,580

4,34,580

Question 11

Record the following transactions of M/s Mahipal Bros. in Proper Subsidiary Books, post them into the Ledger and take out a Trial Balance:

Jan. 1

Commenced business with Cash ₹ 2,00,000

2

Deposited into U.T.I Bank ₹ 1,75,000

4

Purchased goods from Dilip for ₹ 40,000. Trade Discount 20%

6

Gave a cheque to Dilip for ₹ 16,800 and discount allowed by him ₹ 200

8

Goods bought from Nilesh for Cash ₹ 14,000

10

Accepted a bill at 2 months for ₹ 15,000 drawn by Dilip

11

Bought goods from Suresh ₹ 75,000

13

Paid to Suresh a Cheque for ₹ 58,800 after receiving discount of 2%

15

Cash sales made to Jyoti Parshad ₹ 8,000

16

Sold goods to Mohinder for ₹ 20,000

17

Goods returned by Mohinder for ₹ 1,500

18

Received from Mohinder ₹ 7,900 after allowing a discount of 1.25%

20

Goods sold to Banerjee ₹ 50,000

21

Deposited into Bank ₹ 20,000

25

Goods taken for personal use ₹ 2,000

Purchased furniture ₹ 40,000 and Typewriter ₹ 10,000 for office use.Payment for both the items is made by Cheque

Sold goods to Anubhav ₹ 30,000

27

Goods returned by Anubhav ₹ 5,000

Received full payment from Banerjee by Cheque, sent it to Bank, Discount allowed 2%

28

Acceptance received from Anubhav at 30 days for the amount due from him

Paid for stationery ₹ 400 and for Postage ₹ 200

31

Rent of proprietor’s house paid by Cheque ₹ 2,500

Solution:

Cash Book

Dr.

Cr.

Date

2017

Particulars

L.F.

Cash ₹

Bank ₹

Discount

Date

2017

Particulars

L.F.

Cash ₹

Bank ₹

Discount

Jan.

Jan.

1

Capital A/c

2,00,000

2

Bank A/c

C

1,75,000

2

Cash A/c

C

1,75,000

6

Dilip’s A/c

16,800

200

15

Sales A/c

8,000

8

Purchases A/c

14,000

18

Mohinder’s A/c

7,900

100**

13

Suresh’s A/c

58,800

1,200*

21

Cash A/c

C

20,000

21

Bank A/c

C

20,000

27

Banerjee’s A/c

49,000

1,000

25

Furniture A/c

40,000

25

Typewriter A/c

10,000

28

Stationery A/c

400

28

Postage A/c

200

31

Drawings A/c

2,500

31

Balance c/d

6,300

1,15,900

2,15,900

2,44,000

1,100

2,15,900

2,44,000

1,400

Feb. 1

Balance b/d

6,300

1,15,900

Purchases Book

Date

2017

Particulars

L.F.

Details ₹

Amount ₹

Jan.

4

Dilip

40,000

Less: 20% Trade Discount

8,000

32,000

11

Suresh

75,000

31

Purchases A/c

Dr.

1,07,000

Sales Book

Date

2017

Particulars

L.F.

Details

Amount

Jan.

16

Mohinder

20,000

20

Banerjee

50,000

25

Anubhav

30,000

31

Sales A/c

Cr.

1,00,000

Sales Return Book

Date

2017

Particulars

Credit Note No.

L.F.

Details ₹

Amount ₹

Jan.

17

Mohinder

1,500

27

Anubhav

5,000

31

Sales Return A/c

Dr.

6,500

Journal

Date

2017

Particulars

L.F.

Debit ₹

Credit ₹

Jan.

6

Dilip

Dr.

200

To Discount Received A/c

(Discount of Rs 200 received from Dilip)

200

10

Dilip’s A/c

Dr.

15,000

To Bills Payable A/c

(Acceptance given to the bill drawn by Dilip)

15,000

13

Suresh

Dr.

1,200*

To Discount Received A/c

(Discount of 2% received from Suresh)

1,200*

18

Discount Allowed A/c

Dr.

100**

To Mohinder

(Discount of 1.25% allowed to Mohinder)

100**

25

Drawings A/c

Dr.

2,000

To Purchases A/c

(Goods taken for personal use)

2,000

27

Discount Allowed A/c

Dr.

1,000

To Banerjee

(Discount of 2% allowed to Banerjee)

1,000

28

Bills Receivable A/c

Dr.

25,000

To Anubhav’s A/c

(Acceptance received from Anubahv)

25,000

TOTAL

44,500

44,500

(i) Amount paid to Suresh (98%) = ₹58,800

Discounted amount (2%) = \(\frac{58,800}{98}\) X 2= ₹ 1,200

(ii) Received amount from Mohinder (98.75%) = ₹ 7,900

Discounted amount (1.25%) = \(\frac{7,900}{98.75}\) X 1.25= ₹ 100

Sales Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

31

Balance c/d

1,08,000

15

Cash A/c

8,000

31

Sundries as per Sales Book

1,00,000

1,08,000

1,08,000

Feb. 1

Balance b/d

1,08,000

Capital Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

31

Balance c/d

2,00,000

1

Cash A/c

2,00,000

2,00,000

2,00,000

Feb. 1

Balance b/d

2,00,000

Purchases Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

8

Cash A/c

14,000

25

Drawings A/c

2,000

31

Sundries as per Purchases Book

1,07,000

31

Balance c/d

1,19,000

1,21,000

1,21,000

Feb. 1

Balance b/d

1,19,000

Mohinder’s Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

16

Sales A/c

20,000

18

Cash A/c

7,900

18

Discount Allowed A/c

100

17

Sales Return A/c

1,500

31

Balance c/d

10,500

20,000

20,000

Feb. 1

Balance b/d

10,500

Banerjee’s Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

20

Sales A/c

50,000

27

Bank A/c

49,000

27

Discount Allowed A/c

1,000

50,000

50,000

Dilip’s Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

6

Bank A/c

16,800

4

Purchases A/c

32,000

6

Discount Received A/c

200

10

Bills Payable A/c

15,000

32,000

32,000

Suresh’s Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

13

Bank A/c

58,800

11

Purchases A/c

75,000

13

Discount Received A/c

1,200

31

Balance c/d

15,000

75,000

75,000

Feb. 1

Balance b/d

15,000

Furniture Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

25

Bank A/c

40,000

31

Balance c/d

40,000

40,000

40,000

Feb. 1

Balance b/d

40,000

Stationery Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

28

Cash A/c

400

31

Balance c/d

400

400

400

Feb. 1

Balance b/d

400

Drawings Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

25

Purchases A/c

2,000

31

Balance c/d

4,500

31

Bank A/c

2,500

4,500

4,500

Feb. 1

Balance b/d

4,500

Typewriter Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

25

Bank A/c

10,000

31

Balance c/d

10,000

10,000

10,000

Feb. 1

Balance b/d

10,000

Postage Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

28

Cash A/c

200

31

Balance c/d

200

200

200

Feb. 1

Balance b/d

200

Anubhav’s Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

25

Sales A/c

30,000

27

Sales Return A/c

5,000

28

Bills Receivable A/c

25,000

30,000

30,000

Bills Payable Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

31

Balance c/d

15,000

10

Dilip’s A/c

15,000

15,000

15,000

Feb. 1

Balance b/d

15,000

Bills Receivable Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

28

Anubhav’s A/c

25,000

31

Balance c/d

25,000

25,000

25,000

Feb. 1

Balance b/d

25,000

Discount Allowed Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

18

Mohinder’s A/c

100

31

Balance c/d

1,100

27

Banerjee’s A/c

1,000

1,100

1,100

Feb. 1

Balance b/d

1,100

Sales Return Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

31

Sundries as per Sales Return Book

6,500

31

Balance c/d

6,500

6,500

6,500

Feb. 1

Balance b/d

6,500

Discount Received Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

31

Balance c/d

1,400

6

Dilip’s A/c

200

13

Suresh’s A/c

1,200

1,400

1,400

Feb. 1

Balance b/d

1,400

Trial Balance as on Jan. 31, 2017

Name of Accounts

L.F.

Debit

Credit

Cash A/c

6,300

Bank A/c

1,15,900

Capital A/c

2,00,000

Sales A/c

1,08,000

Purchases A/c

1,19,000

Mohinder’s A/c

10,500

Suresh’s A/c

15,000

Furniture A/c

40,000

Typewriter A/c

10,000

Stationery A/c

400

Postage A/c

200

Drawings A/c

4,500

Bills Payable A/c

15,000

Bills Receivable A/c

25,000

Sales Return A/c

6,500

Discount Allowed A/c

1,100

Discount Received A/c

1,400

3,39,400

3,39,400

Question 12

Enter the following transactions in proper Subsidiary Books, post them into Ledger Accounts, balance the accounts and prepare a Trial Balance

Jan 1

Assets: Cash in hand ₹ 20,000; Debtors : Sri Gopal ₹ 15,000, Poonam & Co. ₹ 30,000; Stock ₹ 1,75,000, Machinery ₹ 1,20,000; Furniture ₹ 40,000

Liabilities: Bank Overdraft ₹ 33,000; Creditors : Niranjan Lal ₹ 24,000, Bombay Trading Co. ₹ 16,000

2

Purchased from Manohar Lal & Sons goods of the list price of ₹ 20,000 at 10% trade discount

5

Returned to Manohar Lal & sons goods of the list price of ₹ 2,000

10

Issued a Cheque to Manohar Lal & Sons in full settlement of their account

12

Sold to Sri Gopal, goods worth ₹ 25,000

15

Received Cash ₹ 10,000 and a Cheque for ₹ 8,000 from Sir Gopal. The Cheque was immediately sent to ban

16

Withdrew for personal use : Cash ₹ 5,000 and goods ₹ 3,000

17

Accepted a bill for 45 days drawn by Niranjan Lal for the amount due to him

18

Acceptance received from Poonam & Co. for the amount due from them payable after 30 days

19

Sold to Raghubir Brothers, goods valued ₹ 16,000

20

Cash purchases ₹ 15,000

22

Withdrew from bank for office use ₹ 10,000

23

Purchased from Bombay Trading Co., goods valued ₹ 24,000

24

Sri Gopal returned goods worth ₹ 2,000

25

Received from Raghubir Brothers ₹ 10,000

27

Accepted a bill for ₹ 25,000 for 1 month drawn by Bombay Trading Co

Paid Rent by Cheque ₹ 2,80

Received Commission in Cash ₹ 800

31

Paid salaries ₹ 5,000.

Solution:

Journal

Date

2017

Particulars

L.F.

Debit ₹

Credit ₹

Jan.

1

Cash in Hand A/c

Dr.

20,000

Sri Gopal’s A/c

Dr.

15,000

Stock A/c

Dr.

1,75,000

Poonam & Co.

Dr.

30,000

Machinery A/c

Dr.

1,20,000

Furniture A/c

Dr.

40,000

To Bank Overdraft A/c

33,000

To Niranjan Lal’s A/c

24,000

To Bombay Trading Co.

16,000

To Capital A/c (Balancing Figure)

(Balances of previous year brought forward)

3,27,000

2

Purchases A/c

Dr.

18,000

To Manohar Lal & Sons

(Goods purchased on credit)

18,000

5

Manohar Lal & Sons

Dr.

1,800

To Purchases Return A/c

(Goods returned excluding trade discount @ 10%)

1,800

10

Manohar Lal & Sons

Dr.

16,200

To Bank A/c

(Cheque issued to Manohar Lal & Sons in full settlement of their account)

16,200

12

Sri Gopal’s A/c

Dr.

25,000

To Sales A/c

(Goods sold on credit to Sri Gopal)

25,000

15

Cash A/c

Dr.

10,000

Bank A/c

Dr.

8,000

To Sri Gopal’s A/c

(Received cash & cheque from Sri Gopal)

18,000

16

Drawings A/c

Dr.

8,000

To Cash A/c

5,000

To Purchases A/c

(Withdrew cash and goods for personal use)

3,000

17

Niranjan Lal’s A/c

Dr.

24,000

To Bills Payable A/c

(Acceptance given for the amount owed)

24,000

18

Bills Receivable A/c

Dr.

30,000

To Poonam & Co.

(Acceptance received from debtor)

30,000

19

Raghubir Brothers

Dr.

16,000

To Sales A/c

(Goods sold on credit)

16,000

20

Purchases A/c

Dr.

15,000

To Cash A/c

(Goods purchased for cash)

15,000

22

Cash A/c

Dr.

10,000

To Bank A/c

(Cash withdrawn from bank for office use)

10,000

23

Purchases A/c

Dr.

24,000

To Bombay Trading Co.

(Goods purchased on credit)

24,000

24

Sales Return A/c

Dr.

2,000

To Sri Gopal’s A/c

(Goods returned by Sri Gopal)

2,000

25

Cash A/c

Dr.

10,000

To Raghubir Brothers

(Cash received from Raghubir)

10,000

27

Bombay Trading Co.

Dr.

25,000

To Bills Payable A/c

(Acceptance given for the amount owed)

25,000

27

Rent A/c

Dr.

2,800

To Bank A/c

(Rent paid)

2,800

27

Cash A/c

Dr.

800

To Commission A/c

(Commission received)

800

31

Salaries A/c

Dr.

5,000

To Cash A/c

(Salaries paid)

5,000

TOTAL

6,51,600

6,51,600

Cash Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

1

Balance b/d

20,000

16

Drawings A/c

5,000

15

Sri Gopal’s A/c

10,000

20

Purchases A/c

15,000

22

Bank A/c

10,000

31

Salaries A/c

5,000

25

Raghubir Brothers

10,000

31

Balance c/d

25,800

27

Commission A/c

800

50,800

50,800

Feb. 1

Balance b/d

25,800

Sri Gopal’s Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

1

Balance b/d

15,000

15

Cash A/c

10,000

12

Sales A/c

25,000

15

Bank A/c

8,000

24

Sales Return A/c

2,000

31

Balance c/d

20,000

40,000

40,000

Feb. 1

Balance b/d

20,000

Poonam & Co. Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

1

Balance b/d

30,000

18

Bills Receivable A/c

30,000

30,000

30,000

Stock Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

Jan.

Particulars

J.F.

Amount ₹

Jan.

2017

1

Balance b/d

1,75,000

31

Balance c/d

1,75,000

1,75,000

1,75,000

Feb. 1

Balance b/d

1,75,000

Machinery Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

1

Balance b/d

1,20,000

31

Balance c/d

1,20,000

1,20,000

1,20,000

Feb. 1

Balance b/d

1,20,000

Furniture Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount

Date

2017

Particulars

J.F.

Amount

Jan.

Jan.

1

Balance b/d

40,000

31

Balance c/d

40,000

40,000

40,000

Feb. 1

Balance b/d

40,000

Niranjan Lal’s Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

17

Bills Payable A/c

24,000

1

Balance b/d

24,000

24,000

24,000

Capital Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

jan.

JAN.

31

Balance c/d

3,27,000

1

Balance b/d

3,27,000

3,27,000

3,27,000

Feb. 1

Balance b/d

3,27,000

Bombay Trading Co. Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

27

Bills Payable A/c

25,000

1

Balance b/d

16,000

31

Balance c/d

15,000

23

Purchases A/c

24,000

40,000

40,000

Feb. 1

Balance b/d

15,000

Purchases Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

2

Manohar Lal & Sons

18,000

16

Drawings A/c

3,000

20

Cash A/c

15,000

31

Balance c/d

54,000

23

Bombay Trading Co.

24,000

57,000

57,000

Feb. 1

Balance b/d

54,000

Sales Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

31

Balance c/d

41,000

12

Sri Gopal’s A/c

25,000

19

Raghubir Brothers

16,000

41,000

41,000

Feb. 1

Balance b/d

41,000

Manohar Lal & Sons Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

5

Purchases Return A/c

1,800

2

Purchases A/c

18,000

10

Bank A/c

16,200

18,000

18,000

Bank Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

15

Sri Gopal’s A/c

8,000

1

Balance b/d

33,000

31

Balance c/d

54,000

19

Manohar Lal & Sons

16,200

22

Cash A/c

10,000

27

Rent A/c

2,800

62,000

62,000

2017

Feb. 01

Balance b/d

54,000

Purchases Return Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

31

Balance c/d

1,800

5

Manohar Lal & Sons

1,800

1,800

1,800

Feb. 1

Balance b/d

1,800

Drawings Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

16

Cash A/c

5,000

31

Balance c/d

8,000

16

Purchases A/c

3,000

8,000

8,000

Feb. 1

Balance b/d

8,000

Bills Payable Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

31

Balance c/d

49,000

17

Niranjan Lal’s A/c

24,000

27

Bombay Trading Co.

25,000

49,000

49,000

Feb. 1

Balance b/d

49,000

Bills Receivable Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

18

Poonam & Co.

30,000

31

Balance c/d

30,000

30,000

30,000

Feb. 1

Balance b/d

30,000

Raghubir Brothers Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

19

Sales A/c

16,000

25

Cash A/c

10,000

31

Balance c/d

6,000

16,000

16,000

Feb. 1

Balance b/d

6,000

Sales Return Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

24

Sri Gopal’s A/c

2,000

31

Balance c/d

2,000

2,000

2,000

Feb.1

Balance b/d

2,000

Rent Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

27

Bank A/c

2,800

31

Balance c/d

2,800

2,800

2,800

Feb. 1

Balance b/d

2,800

Commission Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount ₹

Date

2017

Particulars

J.F.

Amount ₹

Jan.

Jan.

31

Balance c/d

800

27

Cash A/c

800

800

800

Feb. 1

Balance b/d

800

Salaries Account

Dr.

Cr.

Date

2017

Particulars

J.F.

Amount (Rs)

Date

2017

Particulars

J.F.

Amount (Rs)

Jan.

Jan.

31

Cash A/c

5,000

31

Balance c/d

5,000

5,000

5,000

Feb.1

Balance b/d

5,000

Trial Balance

as on Jan. 31,2017

Name of Accounts

L.F

Debit ₹

Credit ₹

Cash A/c

25,800

Sri Gopal

20,000

Stock A/c

1,75,000

Furniture A/c

40,000

Machinery A/c

1,20,000

Capital A/c

3,27,000

Bombay Trading Co.

15,000

Purchases A/c

54,000

Sales A/c

41,000

Bank A/c

54,000

Purchases Return A/c

1,800

Drawings A/c

8,000

Bills Payable A/c

49,000

Bills Receivable A/c

30,000

Raghubir Brothers

6,000

Sales Return A/c

2,000

Rent A/c

2,800

Commission A/c

800

Salaries A/c

5,000

4,88,600

4,88,600

Note: The total answer of journal entry mentioned in the book and the solution provided here is different.

Question 13

Prepare journal entries of the following posting in the ledger account.

1.

Dr.

Cash Account

Cr.

To Sales

5,000


2.

Dr.

Furniture Account

Cr.

To Cash

8,000

3.

Dr.

Purchase Account

Cr.

To Govind

10,000

4.

Dr.

Murari

Cr.

By Purchase A/c

12,000

5.

Dr.

Sales Account

Cr.

By Mohan

15,000

6.

Dr.

Interest Account

Cr.

By Cash A/c

500

Solution

Journal Entries

Sr. No

Particulars

L.F

Amount Dr.

Amount Cr.

1

Cash A/c Dr.

To Sales A/c

(Goods sold for Cash)

5,000

5,000

2

Furniture A/c Dr.

To Cash A/c

(Furniture purchased for Cash)

8,000

8,000

3

Purchase A/c Dr.

To Govind

(Goods purchased for credit)

10,000

10,000

4

Purchase A/c Dr.

To Murari

(Goods sold for Credit)

12,000

12,000

5

Mohan Dr.

To SAles A/c

(Goods sold on Credit)

15,000

15,000

6

Cash A/c

To Interest A/c

(Interest Received)

500

500

Stay tuned to BYJU’S for more DK Goel solutions, question papers, sample papers, syllabus and Commerce notifications.

Stay tuned to BYJU’S for more DK Goel solutions, question papers, sample papers, syllabus and Commerce notifications.

1 Comment

Leave a Comment

Your email address will not be published. Required fields are marked *