Class 11 Accountancy Chapter 8 - Special Purpose Books 2 Cash Book

TS Grewal Solutions for Class 11 Accountancy Chapter 8:

TS Grewal Solutions for Class 11 Accountancy Chapter 8 – Special Purpose Books 2 Cash Book is a concept that students should consider while preparing for their Accountancy exam. Here, are few solutions rendered in a simple and stepwise method.

Class 11 TS Grewal Solutions Accountancy Chapter 8:-Download PDF Here

Board CBSE
Class Class 11
Subject Accountancy
Chapter Chapter 8
Chapter Name Chapter 8 – Special Purpose Books 2 Cash Book
Number of questions solved 7
Category TS Grewal

Chapter 8 – Special Purpose Books 2 Cash Book defines the below-mentioned concepts:

  • Sales Book
  • Purchase Book
  • Purchase Return Book
  • Sales Return Book
  • Return Inward & Return Outward Book

TS Grewal Solutions for Class 11 Accountancy Chapter 8 – Special Purpose Books 2 Cash Book

QUESTION 1

Give the journal entries for the following transaction. (Transfer Entries)

(i) From trading account to Profit and Loss Account, ₹32,000 gross profit.

(ii) Net Profit of ₹14,500 to Shalini’s capital account

(iii) Shalini withdrew ₹10,000 from her capital account

(iv) Purchases return of ₹ 7,000 plus IGST @12%

(v) Return sales of ₹6,000 plus SGST and CGST @6% each

Solution.

Dr.

Journal

 Cr.
 

Sr.No.

                     

    Particulars

L.F     Debit (₹) Credit (₹)
(i) Trading A/c                                                                             Dr.

      To Profit and Loss A/c

(Being transfer of gross profit to Profit and Loss Account)

32,000 32,000
(ii) Profit and Loss A/c                                                                Dr.

      To Shalini’s capital A/c

(Being transfer of net profit to capital account)

14,500 14,500
(iii) Shalini’s capital A/c                                                              Dr.

       To Drawing A/c

(Being withdrawal from the capital account)

10,000 10,000
(iv) Cash A/c                                                                                  Dr.

      To Purchase Return A/c

      To Input IGST A/c

(Being purchased good return)

7,840 7,000840
(v) Sales Return A/c                                                                    Dr.

Output CGST                                                                          Dr.

Output AGST                                                                          Dr.

      To cash A/c

(Being goods sold return)

6,000

360

360

6,720

QUESTION 2

Record the adjustment entries in the journal for the ending year 31st Match 2018.

(i) Interest accumulated ₹2,500

(ii) Outstanding wages ₹10,000 for March 2018

(iii) Prepaid Insurance ₹ 1,500

(iv) Manager commission due @ ₹ 6% on net profit. Before charging such commission the profit was 1,06,000

(v) Pending interest on a loan. 9 months before the end of the year, the loan of ₹1,50,000 was taken @ 9% p.a.

Solution.

Dr.   

Journal

Cr.
 Sr.

No.

Particulars L.F Debit

Rs.

Credit

Rs.

(i) Accumulated Interest A/c                        Dr.

      To Interest A/c

(Being Interest accumulated)

2,500 2,500
(ii) Wages A/c                                                  Dr.

      To Wages Outstanding A/c

(Being wages outstanding for March 2018)

10,000 10,000
(iii) Prepaid Insurance A/c                              Dr.

       To Insurance A/c

(Being prepaid insurance)

1,500 1,500
(iv) Manager’s commission  A/c Dr.

    To Manager’s commission payable A/c

(Being commission due to the manager)

6,000 6,000
(v) Interest on Loan A/c                                 Dr.

    To Outstanding interest on Loan A/c

(Being interest on loan due)

10,125 10,125

QUESTION 3

(Closing Entries). Record the transaction of Mr. Raghu on 31st March 2018 in a journal and close their books. Premises freehold ₹30,000, Machinery and Plant ₹20,000, Sundry Debtors ₹25,000, Purchases ₹37,500, Sales ₹95,000, Discount (Dr.) ₹150, Discount (Cr.) ₹175, Creditor Sundry ₹12,500, Inward Carriage ₹375, Outward Carriage ₹600, Fixtures and Furniture ₹2,500, wages ₹5,000, Bad debts ₹750, Salaries ₹3,600, Commission (Cr) ₹2,125, Capital Account ₹25,000, Payable Bills ₹7,500, Receivable Bill ₹9,000, Expenses Trade ₹2,550, Radha’s Loan Account ₹20,000, Cash in Hand ₹75, Cash in Bank ₹3,125.

Solution.

Dr.

Journal  

Cr.
 

Sr.No.

                     

    Particulars

L.F     Debit (₹) Credit (₹)
(i) Trading A/c                                                                        Dr.

      To Purchase A/c

      To Carriage Inward A/c

      To Wages A/c

(Being direct expenses debited to Trading A/c)

42,875 37,500375

5,000

(ii) Sales A/c                                                                             Dr.

      To Trading A/c

(Being sales credited to Trading A/c)

95,000 95,000
(iii) Trading A/c                                                                        Dr.

       To Profit & Loss A/c

(Being transfer of gross profit to profit & Loss account)

52,125 52,125
(iv) Profit & Loss A/c                                                               Dr.

      To Discount A/c

      To Carriage outward A/c

      To Bad Debts

      To Salaries A/c

      To Trade Expenses A/c

(Being Indirect expenses debited to Profit & Loss A/c)

7,650 150600

750

3,600

2,550

(v) Discount A/c                                                                      Dr.

Commission A/c                                                               Dr.

     To Profit & Loss A/c

(Being Indirect income credited to Profit & Loss A/c)

175

2,125

2,300
(vi) Profit & Loss A/c                                                              Dr.

      To Capital A/c

(Being transfer of net profit to capital A/c)

46,775 46,775

QUESTION 4:

Arrange Sales Return Book of Ram stores from the below-mentioned transaction and record them in Ledger.

2018

Feb 10

Feb 20

Ram stores returned Two television sold @20,000 each plus SGST & CSGT @ 9% each..

Sonam & Co. returned three microwaves sold @ 10,000 each plus IGST @18%

Solution.

Sales Return Book
Date Particulars Credit Note No. L.F Details Value Output

CGST

Output

SGST

Output

IGST

Total
Feb 10 Rama Stores

2 TV @ ₹20,000 each

Add CGST @ 9%

Add SGST @ 9%

40,000

3,600

3,600

47,200 40,000 3,600 3,600 47,200
 

Feb 20

Sonam & Co. 3 microwaves @ ₹10,000 each

Add IGST @ 18%

30,000

5,400

35,400 30,000 5,400 5,400
70,000 3,600 3,600 5,400 82,600

QUESTION 5

Arrange Purchase Return Book of Kamala stores for July 2017 from the below-mentioned transaction.

2018

June 6

June 8

June 17

Goods returned to Ram brothers, purchased for ₹5,000 plus SGST & CGST @ 6% each

Goods returned to Soham brothers, purchased for ₹10,000 plus IGST @ 12% each

Goods returned to Mohan brothers, purchased for ₹2,000 plus SGST & CGST @ 6% each

Solution.

Purchase Return Book
Date Particulars Credit

Note No.

L.F Details Cost Output

CGST

Output

SGST

Output

IGST

Total
June 6 Ram Brothers

Add CGST @ 6%

Add SGST @ 6%

5,000

300

300

5,600 5,000 300 300 5,600
June 8 Soham Brothers

Add IGST @ 12 %

10,000

1,200

11,200 10,000 1,200 1,200
June 17 Mohan

Brothers

Add CGST @ 6%

Add SGST @ 6%

2,000

120

120

2,240 2,000 120 120 2240
17,000 420 420 1,200 19,040

QUESTION 6

Prepare purchase return book of Anu stores from the below-mentioned transaction.

2018

Jan 10

Jan 25

Sonam stores returned 10 fans 36” @1,250 each plus SGST & CSGT @ 6% each.Trade discount 10%

Raj & Co. returned 25 bulbs @ 200 each plus IGST paid @12%

Solution.

In books of Anu Stores

Purchase Return Book

Date Name of Supplier (Account to be debited) Debit

Note No.

L.F Detail

2018

Jan 10

Sonam Stores

10 fans 36” @1,250 each

10% Trade discount

12,500

1,250

11,250
Add CGST @ 6%

Add SGST @ 6%

675

675

12,600
Jan 25 Raj & Co.

25 bulbs @ 200 each

IGST paid @12%

5,000

600

5,600
Jan 31 Purchase Return Account Cr. 18,200

QUESTION 7

Prepare Purchase book for Das Bros., Kolkata cloth dealer for January 2018.

2018

April 3

April 8

April 15

April 20

Gupta Mills purchased goods on credit

Long cloths 100 pieces @ 800 each

Shirt 50 pieces @ 500 each

SGST & CGST payable @ 6% each

Amu Mills purchased goods for cash

Muslin 50 pieces @ 1,000 each

IGST payable @ 12%

Sam Mills purchased goods on credit

Coating 20 pieces @ 2,000 each

Shirt 10 pieces @ 500 each

IGST payable @ 12%

Bharati Typewriter Ltd. purchased on credit

Typewriters 5 pieces @ 1,400 each

SGST & CGST payable @ 6% each

Solution.

Das Bros., Kolkata

Purchase Book

Date Name of Supplier (Account to be debited) Debit

Note No.

L.F Detail

2018

Jan 03

Gupta Mills

Long cloths 100 pieces @ 800 each

Shirt 50 pieces @ 500 each

80,000

25,000

Add Input CGST @ 6%

Add Input SGST @ 6%

1,05,000

6,300

6,300

1,17,000
Jan 15 Sam Mills

Coating 20 pieces @ 2,000 each

Shirt 10 pieces @ 500 each

40,000

5,000

Add Input IGST @ 12% 45,000

5,400

50,400
Jan 30 Purchase A/c Dr. 1,68,000

Note:

a) Purchase made by cash on Jan 8th will be recorded on the cash book because it is a cash transaction, not credit.

b) Typewriter purchased on Jan 20th will not be recorded on purchase book because it is not a product that the company trade. Instead, it is an asset for the company.

Leave a Comment

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