wiz-icon
MyQuestionIcon
MyQuestionIcon
13
You visited us 13 times! Enjoying our articles? Unlock Full Access!
Byju's Answer
Standard X
Mathematics
Shares
Enter the fol...
Question

Enter the following transactions in proper Subsidiary Books, post them into Ledger Accounts, balance the accounts and prepare a Trial Balance :
2017
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.
Jan. 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 bank.
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 fo 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.
27 Paid Rent by Cheque ₹ 2,800.
Received Commission in Cash ₹ 800.
31 Paid salaries ₹ 5,000.

Open in App
Solution

Journal
Date Particulars L.F. Debit Amount (Rs) Credit Amount (Rs)
2017
Jan. 01 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) 3,27,000
(Balances of previous year brought forward)
Jan. 02 Purchases A/c Dr. 18,000
To Manohar Lal & Sons 18,000
(Goods purchased on credit)
Jan. 05 Manohar Lal & Sons Dr. 1,800
To Purchases Return A/c 1,800
(Goods returned excluding trade discount @ 10%)
Jan. 10 Manohar Lal & Sons Dr. 16,200
To Bank A/c 16,200
(Cheque issued to Manohar Lal & Sons in full settlement of their account)
Jan. 12 Sri Gopal’s A/c Dr. 25,000
To Sales A/c 25,000
(Goods sold on credit to Sri Gopal)
Jan. 15 Cash A/c Dr. 10,000
Bank A/c Dr. 8,000
To Sri Gopal’s A/c 18,000
(Received cash & cheque from Sri Gopal)
Jan. 16 Drawings A/c Dr. 8,000
To Cash A/c 5,000
To Purchases A/c 3,000
(Withdrew cash and goods for personal use)
Jan. 17 Niranjan Lal’s A/c Dr. 24,000
To Bills Payable A/c 24,000
(Acceptance given for the amount owed)
Jan. 18 Bills Receivable A/c Dr. 30,000
To Poonam & Co. 30,000
(Acceptance received from debtor)
Jan. 19 Raghubir Brothers Dr. 16,000
To Sales A/c 16,000
(Goods sold on credit)
Jan. 20 Purchases A/c Dr. 15,000
To Cash A/c 15,000
(Goods purchased for cash)
Jan. 22 Cash A/c Dr. 10,000
To Bank A/c 10,000
(Cash withdrawn from bank for office use)
Jan. 23 Purchases A/c Dr. 24,000
To Bombay Trading Co. 24,000
(Goods purchased on credit)
Jan. 24 Sales Return A/c Dr. 2,000
To Sri Gopal’s A/c 2,000
(Goods returned by Sri Gopal)
Jan. 25 Cash A/c Dr. 10,000
To Raghubir Brothers 10,000
(Cash received from Raghubir)
Jan. 27 Bombay Trading Co. Dr. 25,000
To Bills Payable A/c 25,000
(Acceptance given for the amount owed)
Jan. 27 Rent A/c Dr. 2,800
To Bank A/c 2,800
(Rent paid)
Jan. 27 Cash A/c Dr. 800
To Commission A/c 800
(Commission received)
Jan. 31 Salaries A/c Dr. 5,000
To Cash A/c 5,000
(Salaries paid)
TOTAL 6,51,600 6,51,600
Cash Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
Jan. 01 Balance b/d 20,000 Jan. 16 Drawings A/c 5,000
Jan. 15 Sri Gopal’s A/c 10,000 Jan. 20 Purchases A/c 15,000
Jan. 22 Bank A/c 10,000 Jan. 31 Salaries A/c 5,000
Jan. 25 Raghubir Brothers 10,000 Jan. 31 Balance c/d 25,800
Jan. 27 Commission A/c 800
50,800 50,800
2017
Feb. 01 Balance b/d 25,800
Sri Gopal’s Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
Jan. 01 Balance b/d 15,000 Jan. 15 Cash A/c 10,000
Jan. 12 Sales A/c 25,000 Jan. 15 Bank A/c 8,000
Jan. 24 Sales Return A/c 2,000
Jan. 31 Balance c/d 20,000
40,000 40,000
2017
Feb. 01 Balance b/d 20,000
Poonam & Co. Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
Jan. 01 Balance b/d 30,000 Jan. 18 Bills Receivable A/c 30,000
30,000 30,000
Stock Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
Jan. 01 Balance b/d 1,75,000 Jan. 31 Balance c/d 1,75,000
1,75,000 1,75,000
2017
Feb. 01 Balance b/d 1,75,000
Machinery Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
Jan. 01 Balance b/d 1,20,000 Jan. 31 Balance c/d 1,20,000
1,20,000 1,20,000
2017
Feb. 01 Balance b/d 1,20,000
Furniture Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
Jan. 01 Balance b/d 40,000 Jan. 31 Balance c/d 40,000
40,000 40,000
2017
Feb. 01 Balance b/d 40,000
Niranjan Lal’s Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
Jan. 17 Bills Payable A/c 24,000 Jan. 01 Balance b/d 24,000
24,000 24,000
Capital Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
Jan. 31 Balance c/d 3,27,000 Jan. 01 Balance b/d 3,27,000
3,27,000 3,27,000
2017
Feb. 01 Balance b/d 3,27,000
Bombay Trading Co. Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
Jan. 27 Bills Payable A/c 25,000 Jan. 01 Balance b/d 16,000
Jan. 31 Balance c/d 15,000 Jan. 23 Purchases A/c 24,000
40,000 40,000
2017
Feb. 01 Balance b/d 15,000
Purchases Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
Jan. 02 Manohar Lal & Sons 18,000 Jan. 16 Drawings A/c 3,000
Jan. 20 Cash A/c 15,000 Jan. 31 Balance c/d 54,000
Jan. 23 Bombay Trading Co. 24,000
57,000 57,000
2017
Feb. 01 Balance b/d 54,000
Sales Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
Jan. 31 Balance c/d 41,000 Jan. 12 Sri Gopal’s A/c 25,000
Jan. 19 Raghubir Brothers 16,000
41,000 41,000
2017
Feb. 01 Balance b/d 41,000
Manohar Lal & Sons Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
Jan. 05 Purchases Return A/c 1,800 Jan. 02 Purchases A/c 18,000
Jan. 10 Bank A/c 16,200
18,000 18,000
Bank Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
Jan. 15 Sri Gopal’s A/c 8,000 Jan. 01 Balance b/d 33,000
Jan. 31 Balance c/d 54,000 Jan. 19 Manohar Lal & Sons 16,200
Jan. 22 Cash A/c 10,000
Jan. 27 Rent A/c 2,800
62,000 62,000
2017
Feb. 01 Balance b/d 54,000
Purchases Return Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
Jan. 31 Balance c/d 1,800 Jan. 05 Manohar Lal & Sons 1,800
1,800 1,800
2017
Feb. 01 Balance b/d 1,800
Drawings Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
Jan. 16 Cash A/c 5,000 Jan. 31 Balance c/d 8,000
Jan. 16 Purchases A/c 3,000
8,000 8,000
2017
Feb. 01 Balance b/d 8,000
Bills Payable Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
Jan. 31 Balance c/d 49,000 Jan. 17 Niranjan Lal’s A/c 24,000
Jan. 27 Bombay Trading Co. 25,000
49,000 49,000
2017
Feb. 01 Balance b/d 49,000
Bills Receivable Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
Jan. 18 Poonam & Co. 30,000 Jan. 31 Balance c/d 30,000
30,000 30,000
2017
Feb. 01 Balance b/d 30,000
Raghubir Brothers Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
Jan. 19 Sales A/c 16,000 Jan. 25 Cash A/c 10,000
Jan. 31 Balance c/d 6,000
16,000 16,000
2017
Feb. 01 Balance b/d 6,000
Sales Return Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
Jan. 24 Sri Gopal’s A/c 2,000 Jan. 31 Balance c/d 2,000
2,000 2,000
2017
Feb. 01 Balance b/d 2,000
Rent Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
Jan. 27 Bank A/c 2,800 Jan. 31 Balance c/d 2,800
2,800 2,800
2017
Feb. 01 Balance b/d 2,800
Commission Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
Jan. 31 Balance c/d 800 Jan. 27 Cash A/c 800
800 800
2017
Feb. 01 Balance b/d 800
Salaries Account
Dr. Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017 2017
Jan. 31 Cash A/c 5,000 Jan. 31 Balance c/d 5,000
5,000 5,000
2017
Feb. 01 Balance b/d 5,000
Trial Balance
as on Jan. 31,2017
Name of Accounts L.F Debit
Balances Amount
(Rs)		 Credit Balances Amount (Rs)
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: Answer of Journal proper as per solution (Rs 6,51,600) is different from answer provided by the book (Rs 4,82,000)

flag
Suggest Corrections
thumbs-up
8
similar_icon
Similar questions
Q. Record the following transactions of M/s Mahipal Bros. in Proper Subsidiary Books, post them into the Ledger and take out a Trial Balance:
2017
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.
25 Purchased furniture ₹ 40,000 and Typewriter ₹ 10,000 for office use.
Payment for both the items is made by Cheque.
25 Sold goods to Anubhav ₹ 30,000.
27 Goods returned by Anubhav ₹ 5,000.
27 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.
28 Paid for stationery ₹ 400 and for Postage ₹ 200.
31 Rent of proprietor's house paid by Cheque ₹ 2,500.
Q. Pass Journal entries for the following transactions:−
1. Purchased Machinery for ₹ 20,000 and paid ₹ 200 for its carriage.
2. Received a cheque fo ₹ 4,850 from X in full settlement of his account of ₹ 5,000. Cheque was immediately deposited into bank.
3. Received by cheque a first and final payment of 60 paise in a ₹ from Y who owed us ₹ 10,000.
4. Sold goods to Z for ₹ 10,000 at a trade discount of 20%. Next day a cheque was received from him after deducting 5% cash discount. Cheque was immediately deposited into Bank.
5. Goods costing ₹ 20,000 sold to Manoj at a profit of 20% on cost less 10% trade discount.
Q. Journalise the following transactions in the books of Prakash:

(i) Opened a current account with Punjab National Bank ₹ 1,00,000.
(ii) Received a cheque of ₹ 12,900 from Chandradev and allowed discount ₹ 300 to him. The cheque was deposited into Bank on the same day.
(iii) Purchased machinery for ₹ 1,00,000, payment made by cheque. Installation charge of machinery ₹ 6,000 paid in cash.
(iv) Purchased a horse for business for ₹ 20,000.
(v) Sold goods to Gokul at a list price of ₹ 4,000. Trade discount 10% and cash discount 5%. He paid the amount on the same day and availed the cash discount.
(vi) Purchased goods for ₹ 10,000 and paid ₹ 400 for carriage on these goods.
(vii) Additional cash introduced by the proprietor ₹ 40,000.
(viii) Purchased stationery ₹ 800 and postal stamps ₹ 100.
(ix) Withdrawn from bank ₹ 20,000.
(x) Received an order to supply goods of ₹ 40,000 from Manu and received ₹ 10,000 as an advance together with the order.
(xi) Cash ₹ 10,000 and goods worth ₹ 4,000 were stolen.
(xii) Purchased goods from Devendra for ₹ 40,000 and the payment was made by cheque.
(xiii) Sold 1/4th of the above goods at a profit of 25% on cash.
Q.

uFollowing was the position of Harish & Co. as on 1st April, 2017 :−


Cash in Hand ₹ 10,000; Cash at Bank ₹ 16,800; Furniture ₹ 8,000; Stock ₹ 50,000; Debtors− Ram ₹ 8,000; Shyam ₹ 12,000; Creditors− Anil ₹ 4,000; Sunil ₹ 5,000.


Following transactions took place during April, 2017 :−

2017
April 2 Received a cheque from Ram in full settlement of his account after deducting 5% cash discount.
4 Deposited the above cheque into Bank.
5 Goods purchased for ₹ 20,000 at 10% trade discount and 5% cash discount. Payment made by cheque.
6 Received a cheque from Shyam for ₹ 3,860 and discount allowed to him ₹ 140. Cheque deposited into the bank on the same day.
10 Cash paid to Anil after deducting 2% cash discount.
15 Old furniture sold for ₹ 800.
16 Sold goods to Shiv Parshad of the list price of ₹ 10,000 at a trade discount of 15%.
18 Shiv Parshad returned goods of the list price of ₹ 1,000.
20 Paid for furniture repairs to Bahadur Singh ₹ 100.
25 Received a cheque from Shiv Parshad after deducting 4% cash discount. Cheque was deposited into bank.
28 Bank charged ₹ 50 for 'Bank Charges'.
30 Received Commission ₹ 200.
Q. 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.
2017
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
5 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.
View More
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Shares
MATHEMATICS
Watch in App
explore_more_icon
Explore more
Shares
Standard X Mathematics
Join BYJU'S Learning Program
book_image
AI Tutor
book_image
Textbooks
book_image
Question Papers
book_image
Install app
CrossIcon