Ledger is a subsidiary book.

True

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False

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Solution

The correct option is A True
( True) Ledger is a subsidiary book.
Transaction recorded both on debit and credit side of cash book is known as contra entry.

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From the following Subsidiary Books prepare necessary ledger accounts and balance them.

Sales Book
Date	Particulars	Outward Invoice No.	L.F.	Amount Rs
2011 Apr.1	Amit			6,000
5	Pravin			8,000
20	Santosh			4,000
30	Mehta and Co.			12,000
	Total			30,000

Sales Return Book
Date	Particulars	Credit Note No.	L.F.	Amount Rs
2011Apr. 1	Pravin			2,000
2	Santosh			1,000
	Total			3,000

From the following Subsidiary Book Prepare necessary ledger accounts and balance them.

Purchases Book
Date	Particulars	Inward Invoice No.	L.F.	Amount Rs
2011 Aug. 2	Laxman			4,250
5	Joseph			1,500
10	Salman			3,000
15	Kamini			2,500
31	Patel			800
	Total			12,050

Purchase Return Book
Date	Particulars	Debit Note No.	L.F.	Amount Rs
2011 Aug.7	Laxman			550
18	Kamini			700
31	Patel			100
	Total			1,350

Q. 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

Record the following transactions into proper subsidiary books,then close the subsidiary books on January 31 and post them into Ledger:

$\begin{matrix} 2011 & (R s) Jan 1 & Purchased goods from Mahendra of the list price of Rs 40,000 less 10 % Trade Discount . Jan.5 & Sold goods to Moti for Rs 10,000 Jan.6 & Returned goods to Mahendra of list price Rs 5,000 Jan 7 & Shyam Singh sent goods for Rs 30,000. Jan.8 & Sold goods to Harish for Rs 12,000 . Jan. 19 & Sent goods to Moti for Rs 6,000 Jan.27 & Sold goods to Mahesh for Rs 8,000 \end{matrix}$

Q. ___________ is not a subsidiary book.

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Ledger is a subsidiary book.

The correct option is A True( True) Ledger is a subsidiary book.Transaction recorded both on debit and credit side of cash book is known as contra entry.

The correct option is A True
( True) Ledger is a subsidiary book.
Transaction recorded both on debit and credit side of cash book is known as contra entry.