Accountancy Dk Goel 2018 Solutions for Class 11 Commerce Accountancy Chapter 7 Ledger are provided here with simple step-by-step explanations. These solutions for Ledger are extremely popular among Class 11 Commerce students for Accountancy Ledger Solutions come handy for quickly completing your homework and preparing for exams. All questions and answers from the Accountancy Dk Goel 2018 Book of Class 11 Commerce Accountancy Chapter 7 are provided here for you for free. You will also love the ad-free experience on Meritnation’s Accountancy Dk Goel 2018 Solutions. All Accountancy Dk Goel 2018 Solutions for class Class 11 Commerce Accountancy are prepared by experts and are 100% accurate.

Page No 13.57:

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 Withdrew by Proprietor for his personal use 5,000
28 Purchased a fan for Proprietor's house 1,200

Answer:

Journal
In the Books of…
Date Particulars L.F. Debit Amount (Rs) Credit Amount (Rs)
2017          
Mar. 01 Cash A/c Dr.   80,000  
    To Capital A/c       80,000
  (Business started with cash)        
           
Mar. 02 Purchases A/c Dr.   36,000  
    To Cash A/c       36,000
  (Goods purchased for cash)        
           
Mar. 03 Machinery A/c Dr.   4,000  
    To Cash A/c       4,000
  (Machinery purchased for cash)        
           
Mar. 04 Purchases A/c Dr.   52,000  
    To Raghu’s A/c       22,000
    To Dilip’s A/c       30,000
  (Goods purchased on credit from Raghu and Dilip)      
           
Mar. 06 Raghu’s A/c Dr.   4,000  
    To Purchases Return A/c       4,000
  (Goods returned to Raghu)        
           
Mar. 08 Raghu’s A/c Dr.   18,000  
    To Cash A/c       17,500
    To Discount Received A/c       500
  (Cash paid to Raghu in full settlement)        
           
Mar. 10 Mahesh Chand & Co. Dr.   30,400  
    To Sales A/c       30,400
  (Goods sold to Mahesh Chand & Co. at trade discount)      
           
Mar. 13 Cash A/c Dr.   19,800  
  Discount Allowed A/c     200  
    To Mahesh Chand & Co.       20,000
  (Cash received from Mahesh Chand & Co.)        
           
Mar. 15 Dilip’s A/c Dr.   15,000  
    To Cash A/c       14,850
    To Discount Received A/c       150
  (Cash paid to Dilip)        
           
Mar. 20 Cash A/c Dr.   25,000  
    To Sales A/c       25,000
  (Goods sold for cash)        
           
Mar. 24 Cash A/c Dr.   18,000  
    To Sales A/c       18,000
  (Goods sold for cash)        
           
Mar. 25 Rent A/c Dr.   1,500  
    To Cash A/c       1,500
  (Rent paid)        
           
Mar. 26 Cash A/c Dr.   2,000  
    To Commission A/c       2,000
  (Commission received)        
           
Mar. 28 Drawings A/c Dr.   6,200  
    To Cash A/c       6,200
  (Cash withdrawn and fan purchased for personal use)        
  TOTAL   3,12,100 3,12,100
         
 
Cash Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Mar.01 Capital A/c   80,000 Mar.02 Purchases A/c   36,000
Mar.13 Mahesh Chand & Co.   19,800 Mar.03 Machinery A/c   4,000
Mar.20 Sales A/c   25,000 Mar.08 Raghu’s A/c   17,500
Mar.24 Sales A/c   18,000 Mar.15 Dilip’s A/c   14,850
Mar.26 Commission A/c   2,000 Mar.25 Rent A/c   1,500
        Mar.28 Drawings A/c   6,200
        Mar.31 Balance c/d   64,750
      1,44,800       1,44,800
2017              
Apr.01 Balance b/d   64,750        
               
 
Capital Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount
(Rs)
2017       2017      
Mar.31 Balance c/d   80,000 Mar.01 Cash A/c   80,000
      80,000       80,000
        2017      
        Apr.01 Balance b/d   80,000
               
 
Purchases Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount
(Rs)
2017       2017      
Mar.02 Cash A/c   36,000 Mar.31 Balance c/d   88,000
Mar.04 Raghu’s A/c   22,000        
  Dilip’s A/c   30,000        
      88,000       88,000
2017              
Apr.01 Balance b/d   88,000        
               
 
Machinery Account
Dr.   Cr.
Date Particulars J.F. Amount
(Rs)
Date Particulars J.F. Amount
(Rs)
2017       2017      
Mar.03 Cash A/c   4,000 Mar.31 Balance c/d   4,000
      4,000       4,000
2017              
Apr.01 Balance b/d   4,000        
               
 
Raghu’s Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Mar.06 Purchases Return A/c   4,000 Mar.04 Purchases A/c   22,000
Mar.08 Cash A/c   17,500        
  Discount Received A/c   500        
      22,000       22,000
               
 
Dilip’s Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Mar.15 Cash A/c   14,850 Mar.04 Purchases A/c   30,000
Mar.15 Discount Received A/c   150        
Mar.31 Balance c/d   15,000        
      30,000       30,000
        2017      
        Apr.01 Balance b/d   15,000
               
 
Purchases Return Account
Dr.   Cr.
Date Particulars J.F. Amount
(Rs)
Date Particulars J.F. Amount (Rs)
2017       2017      
Mar.31 Balance c/d   4,000 Mar.06 Raghu’s A/c   4,000
      4,000       4,000
        2017      
        Apr.01 Balance b/d   4,000
               
 
Discount Received Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Mar.31 Balance c/d   650 Mar.08 Raghu’s A/c   500
        Mar.15 Dilip’s A/c   150
      650       650
        2017      
        Apr.01 Balance b/d   650
               
 
Discount Allowed Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount
(Rs)
2017       2017      
Mar.13 Mahesh Chand & Co.   200 Mar.31 Balance c/d   200
      200       200
2017              
Apr.01 Balance b/d   200        
               
 
Mahesh Chand & Co.
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Mar.10 Sales A/c   30,400 Mar.13 Cash A/c   19,800
        Mar.13 Discount Allowed A/c   200
        Mar.31 Balance c/d   10,400
      30,400       30,400
2017              
Apr.01 Balance b/d   10,400        
               
 
Rent Account
Dr.   Cr.
Date Particulars J.F. Amount
(Rs)
Date Particulars J.F. Amount
(Rs)
2017       2017      
Mar.25 Cash A/c   1,500 Mar.31 Balance c/d   1,500
      1,500       1,500
2017              
Apr.01 Balance b/d   1,500        
               
 
Commission Account
Dr.   Cr.
Date Particulars J.F. Amount
(Rs)
Date Particulars J.F. Amount
(Rs)
2017       2017      
Mar.31 Balance c/d   2,000 Mar.26 Cash A/c   2,000
      2,000       2,000
        2017      
        Apr.01 Balance b/d   2,000
               
 
Drawings Account
Dr.   Cr.
Date Particulars J.F. Amount
(Rs)
Date Particulars J.F. Amount
(Rs)
2017       2017      
Mar.28 Cash A/c   6,200 Mar.31 Balance c/d   6,200
      6,200       6,200
        2017      
        Apr.01 Balance b/d   6,200
               
 
Sales Account
Dr.   Cr.
Date Particulars J.F. Amount
(Rs)
Date Particulars J.F. Amount
(Rs)
2017       2017      
Mar.31 Balance c/d   73,400 Mar.10 Mahesh Chand & Co.   30,400
        Mar.20 Cash A/c   25,000
        Mar.24 Cash A/c   18,000
      73,400       73,400
        2017      
        Apr.01 Balance b/d   73,400
               
 
Trial Balance as on March 31, 2017
Name of Accounts L.F. Debit Balances Amount (Rs) Credit Balances Amount (Rs)
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
       



Page No 13.58:

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.

Answer:

Journal
In the Books of Ram & Shyam
Date Particulars L.F. Debit Amount (Rs) Credit Amount (Rs)
2017          
Jan.01 Cash in hand A/c Dr.   30,000  
  Stock A/c Dr.   36,000  
  Lal Chand’s A/c Dr.   7,600  
  Mukesh Khanna’s A/c Dr.   16,200  
  Furniture A/c Dr.   8,000  
    To Ghanshyam’s A/c       6,000
    To Vinod’s A/c       8,000
    To Capital A/c (Balancing figure)       83,800
  (Opening entry made)      
           
Jan.02 Office Equipment A/c Dr.   7,500  
    To Cash A/c       7,500
  (Typewriter purchased)        
           
Jan.04 Cash A/c Dr.   19,000  
  Discount Allowed A/c Dr.   1,000  
    To Sales A/c       20,000
  (Goods sold for cash at 20% trade discount)        
           
Jan.06 Gopal Seth’s A/c Dr.   10,000  
    To Sales A/c       10,000
  (Goods sold on credit to Gopal Seth)        
           
Jan.08 Sales Return A/c Dr.   1,500  
    To Gopal Seth’s A/c       1,500
  (Goods returned)        
           
Jan.12 Purchases A/c Dr.   27,000  
    To Arun’s A/c       12,000
    To Varun’s A/c       15,000
  (Goods purchased on credit)        
           
Jan.13 Arun’s A/c Dr.   12,000  
    To Cash A/c       11,400
    To Discount Received A/c       600
  (Cash paid to Arun in full settlement)        
           
Jan.14 Ghanshyam’s A/c Dr.   6,000  
    To Cash A/c       6,000
  (Cash paid to Ghanshyam)        
           
Jan.16 Cash A/c Dr.   7,500  
  Discount Allowed A/c Dr.   100  
    To Lal Chand’s A/c       7,600
  (Cash received)        
           
Jan.17 Scooter A/c Dr.   18,000  
    To Cash A/c       18,000
  (Scooter purchased)        
           
Jan.20 Cash A/c Dr.   20,000  
    To Sales A/c       20,000
  (Goods sold for cash)        
           
Jan.22 Cash A/c Dr.   4,850  
  Discount Allowed A/c Dr.   150  
    To Gopal Seth’s A/c       5,000
  (Cash received)        
           
Jan.27 Wages A/c Dr.   7,000  
  Salaries A/c Dr.   3,000  
    To Cash A/c       10,000
  (Expenses paid)        
           
Jan.28 Drawings A/c Dr.   3,500  
    To Purchases A/c       2,000
    To Cash A/c       1,500
  (Amount withdrawn)        
           
Jan.29 Drawings A/c Dr.   1,600  
    To Cash A/c       1,600
  (Paid life insurance premium)        
  TOTAL   2,47,500 2,47,500
         
 
Cash Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.01 Balance c/d   30,000 Jan.02 Typewriter A//c   7,500
Jan.04 Sales A/c   19,000 Jan.13 Arun’s A/c   11,400
Jan.06 Lal Chand’s A/c   7,500 Jan.14 Ghanshyam’s A/c   6,000
Jan.20 Sales A/c   20,000 Jan.17 Scooter A/c   18,000
Jan.26 Gopal Seth’s A/c   4,850 Jan.27 Wages A/c   7,000
        Jan.27 Salaries A/c   3,000
        Jan.28 Drawings A/c   1,500
        Jan.29 Drawings A/c   1,600
        Jan.31 Balance c/d   25,350
      81,350       81,350
2017              
Feb.01 Balance b/d   25,350        
               
 
Stock Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.01 Balance b/d   36,000 Jan.31 Balance c/d   36,000
      36,000       36,000
2017              
Feb.01 Balance b/d   36,000        
               
 
Lal Chand’s A/c
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.01 Balance b/d   7,600 Jan.06 Cash A/c   7,500
          Discount Allowed   100
      7,600       7,600
               
 
Mukesh Khanna’s A/c
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.01 Balance b/d   16,200 Jan.31 Balance c/d   16,200
      16,200       16,200
2017              
Jan.01 Balance b/d   16,200        
               
 
Furniture Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.01 Balance b/d   8,000 Jan.31 Balance c/d   8,000
      8,000       8,000
2017              
Feb.01 Balance b/d   8,000        
               
 
Ghanshyam’s A/c
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.14 Cash A/c   6,000 Jan.01 Balance b/d   6,000
      6,000       6,000
               
 
Vinod’s A/c
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.31 Balance c/d   8,000 Jan.01 Balance b/d   8,000
      8,000       8,000
        2017      
        Feb.01 Balance b/d   8,000
               
 
Capital Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.31 Balance c/d   83,800 Jan.01 Balance b/d   83,800
      83,800       83,800
        2017      
        Feb.01 Balance b/d   83,800
               
 
Office Equipment Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.02 Cash A/c   7,500 Jan.31 Balance c/d   7,500
      7,500       7,500
2017              
Feb.01 Balance b/d   7,500        
               
 
Discount Allowed Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.04 Sales A/c   1,000 Jan.31 Balance c/d   1,250
Jan.16 Lal Chand’s A/c   100        
Jan.22 Gopal Seth’s A/c   150        
      1,250       1,250
2017              
Feb.01 Balance b/d   1,250        
               
 
Sales Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.31 Balance c/d   50,000 Jan.04 Cash A/c   19,000
        Jan.04 Discount Allowed A/c   1,000
        Jan.06 Gopal Seth’s A/c   10,000
        Jan.20 Cash A/c   20,000
      50,000       50,000
        2017      
        Feb.01 Balance b/d   50,000
               
 
Gopal Seth’s A/c
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.06 Sales A/c   10,000 Jan.08 Sales Return A/c   1,500
        Jan.22 Cash A/c   4,850
        Jan.22 Discount Allowed   150
        Jan.31 Balance c/d   3,500
      10,000       10,000
2017              
Feb.01 Balance b/d   3,500        
               
 
Sales Return Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.08 Gopal Seth’s A/c   1,500 Jan.31 Balance c/d   1,500
      1,500       1,500
2017              
Feb.01 Balance b/d   1,500        
               
 
Purchases Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.12 Arun’s A/c   12,000 Jan.28 Drawings A/c   2,000
  Varun’s A/c   15,000 Jan.31 Balance c/d   25,000
      27,000       27,000
2017              
Feb.01 Balance b/d   25,000        
               
 
Arun’s A/c
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.13 Cash A/c   11,400 Jan.12 Purchases A/c   12,000
Jan.13 Discount Received A/c   600        
      12,000       12,000
               
 
Varun’s A/c
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.31 Balance c/d   15,000 Jan.12 Purchases A/c   15,000
      15,000       15,000
        2017      
        Feb. 01 Balance b/d   15,000
               
 
Discount Received Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.31 Balance c/d   600 Jan.13 Arun’s A/c   600
      600       600
        2017      
        Feb.01 Balance b/d   600
               
 
Scooter Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.17 Cash A/c   18,000 Jan.31 Balance c/d   18,000
      18,000       18,000
2017              
Feb.01 Balance b/d   18,000        
               
 
Wages Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.27 Cash A/c   7,000 Jan.31 Balance c/d   7,000
      7,000       7,000
2017              
Feb.01 Balance b/d   7,000        
               
 
Salaries Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.27 Cash A/c   3,000 Jan.31 Balance c/d   3,000
      3,000       3,000
2017              
Feb.01 Balance b/d   3,000        
               
 
Drawings Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan.28 Purchases A/c   2,000 Jan.31 Balance c/d   5,100
Jan.28 Cash A/c   1,500        
Jan.29 Cash A/c   1,600        
      5,100       5,100
2017              
Feb.01 Balance b/d   5,100        
               
 
Trial Balance
as on Jan. 31, 2017
Name of Accounts   L.F. Debit
Balances
Amount
(Rs)
Credit
Balances
Amount
(Rs)
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
       



Page No 13.59:

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    

Answer:

Journal
In the Books of…
Date Particulars L.F. Debit Amount (Rs) Credit Amount (Rs)
(I) Purchases A/c Dr.   2,000  
    To Cash A/c       2,000
  (Goods purchased for cash)        
           
(II) Salaries A/c Dr.   1,500  
    To Cash A/c       1,500
  (Salary paid in cash)        
           
(III) Cash A/c Dr.   800  
    To Interest A/c       800
  (Received interest in cash)        
           
(IV) Mohan’s A/c Dr.   5,000  
    To Cash A/c       5,000
  (Cash paid to Mohan)        
         

Page No 13.59:

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.

Answer:

Cash Book
Dr.  
Date Particulars L.F. Cash
(Rs)
Bank
(Rs)
Date Particulars L.F. Cash
(Rs)
Bank
(Rs)
May 01 Balance b/d   12,400 May 01 Balance b/d   36,000
May 03 Ganesh’s A/c   10,000 May 05 Suresh’s A/c   7,700
May 07 Cheques-in-hand A/c   12,000 May 24 X’s A/c   12,000
May 08 Sales A/c   22,000 May 24 Bank Charges A/c   20
May 12 Sales A/c   15,000 55,000 May 25 Purchases A/c   45,000
May 20 Bills Receivable A/c   9,900 May 26 Cash A/c C 10,000
May 26 Bank A/c C 10,000 May 26 Drawings A/c   2,000
          May 31 Interest A/c   4,500
          May 31 Balance c/d   14,400 14,680
      59,400 86,900       59,400 86,900
June 01 Balance b/d   14,400 14,680          
                   

Journal
Date Particulars L.F. Debit
Amount
(Rs)
Credit
Amount
(Rs)
May 06 Cheques-in-Hand A/c Dr.   12,000  
  Discount Allowed A/c Dr.   500  
    To X’s A/c       12,500
  (Cheque received from X but not banked)        
           
May 08 Cheques-in-Hand A/c Dr.   8,000  
    To Sales A/c       8,000
  (Cheque received for sales but not banked)        
           
May 15 Sunil’s A/c Dr.   8,150  
    To Cheques-in-Hand A/c       8,000
    To Discount Received A/c       150
  (Cheque received from sales endorsed to Sunil)        
           
May 20 Discounting Charges A/c Dr.   100  
    To Bills Receivable A/c       100
  (Bills receivable discounted with bank)        
           
May 24 X’s A/c Dr.   500  
    To Discount Allowed A/c       500
  (Discount cancelled)        
         
 
Discount Allowed Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
May 03 Ganesh’s A/c   200 May 24 X’s A/c   500
May 06 X’s A/c   500 May 31 Balance c/d   200
      700       700
June 01 Balance b/d   200        
               
 
Discount Received Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
May 31 Balance c/d   450 May 05 Suresh’s A/c   300
        May 15 Sunil’s A/c   150
      450       450
        June 01 Balance b/d   450
               
 
Cheques-in-Hand Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
May 06 X’s A/c   12,000 May 07 Bank A/c   12,000
May 08 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 (Rs) Date Particulars J.F. Amount (Rs)
May 20 Bills Receivable A/c   100 May 31 Balance c/d   100
      100       100
June 01 Balance b/d   100        
               
 
Bills Receivable Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
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 01 Balance b/d   100
               
 
Ganesh’s Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
May 31 Balance c/d   10,200 May 03 Bank A/c   10,000
        May 03 Discount Allowed A/c   200
      10,200       10,200
        June 01 Balance b/d   10,200
               
 
X’s Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
May 24 Discount Allowed A/c   500 May 06 Cheques-in-Hand A/c   12,000
May 24 Bank A/c   12,000 May 06 Discount Allowed A/c   500
      12,500       12,500
               
 
Suresh’s Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
May 05 Bank A/c   7,700 May 31 Balance c/d   8,000
May 05 Discount Received A/c   300        
      8,000       8,000
June 01 Balance b/d   8,000        
               
 
Sales Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
May 31 Balance c/d   1,00,000 May 08 Cash A/c   22,000
        May 08 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 (Rs) Date Particulars J.F. Amount (Rs)
May 24 Bank A/c   20 May 31 Balance c/d   20
      20       20
June 01 Balance b/d   20        
               
 
Purchases Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
May 25 Bank A/c   45,000 May 31 Balance c/d   45,000
      45,000       45,000
June 01 Balance b/d   45,000        
               
 
Drawings Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
May 26 Bank A/c   2,000 May 31 Balance c/d   2,000
      2,000       2,000
June 01 Balance b/d   2,000        
               
 
Interest Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
May 31 Bank A/c   4,500 May 31 Balance c/d   4,500
      4,500       4,500
June 01 Balance b/d   4,500        
               
 
Sunil’s Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
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 01 Balance b/d   8,150        
               



Page No 13.60:

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 1212% 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.

Answer:

Purchases Book of Modern Furniture House, New Delhi        
Date Particulars L.F. Details (₹) Purchases (₹) Input CGST
(₹)
Input SGST
(₹)
Input IGST
(₹)
Total
Amount
(₹)
 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          
    Less1212% 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 Particulars J.F. Amount (₹) Date Particulars J.F. Amount (₹)
2017              
Nov. 30 Sundries as per Purchases Book   7,02,500        
               
 
Sachdeva Furniture Store Account
Dr.   Cr.
Date Particulars J.F. Amount (₹) Date Particulars J.F. Amount (₹)
        2017      
        Nov. 03 Purchases A/c   1,35,000
        Nov. 03 Input IGST A/c   16,200
 
Mahadeva & Co. Account
Dr.   Cr.
Date Particulars J.F. Amount (₹) Date Particulars J.F. Amount (₹)
        2017      
        Nov. 10 Purchases A/c   1,75,000
        Nov. 10 Input CGST A/c   10,500
        Nov. 10 Input SGST A/c   10,500
 
Fashion Furniture House Account
Dr.   Cr.
Date Particulars J.F. Amount (₹) Date Particulars J.F. Amount (₹)
        2017      
        Nov. 18 Purchases A/c   2,12,500
        Nov. 18 Input CGST A/c   12,750
        Nov. 18 Input SGST A/c   12,750
 
India Furniture House Account
Dr.   Cr.
Date Particulars J.F. Amount (₹) Date Particulars J.F. Amount (₹)
        2017      
        Nov. 20 Purchases A/c   1,80,000
        Nov. 20 Input IGST A/c   21,600
                   
Note: Transaction on Nov. 25 will not be recorded in the Purchases Book as it is a cash transaction.
         (2) Input CGST, Input SGST and Input IGST according to text book are Rs.18,900, 18,900 and Rs.46,500 respectively while as per our calculation Input CGST, Input SGST and Input IGST  are Rs.23,250, 2,250 and Rs.37,800 respectively

Page No 13.60:

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.

Answer:

Sales Book of Karunakaran & Sons, Chennai (Tamilnadu)        
Date Particulars L.F. Details (₹) Sales (₹) Output CGST
(₹)
Output SGST
(₹)
Output IGST
(₹)
Total Amount
(₹)
2017                
Dec. 05 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
Dec. 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
                 
Dec. 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
Dec. 31         7,54,000 16,200 16,200 1,03,320 8,89,720
                 
 
Sales Account
Dr.   Cr.
Date Particulars J.F. Amount (₹) Date Particulars J.F. Amount
(₹)
        2017      
        Dec. 31 Sundries as per Sales Book   7,54,000
               
 
M/s Banwari Lal & Sons
Dr.   Cr.
Date Particulars J.F. Amount (₹) Date Particulars J.F. Amount (₹)
2017              
Dec. 05 Sales A/c   1,80,000        
Dec. 05 Output CGST A/c   16,200        
Dec. 05 Output SGST A/c   16,200        
 
M/s Kanti Bhai & Sons Account
Dr.   Cr.
Date Particulars J.F. Amount (₹) Date Particulars J.F. Amount (₹)
2017              
Dec. 10 Sales A/c   4,60,000        
Dec. 10 Outpput IGST A/c   82,800        
 
Mahindra & Co. Account
Dr.   Cr.
Date Particulars J.F. Amount (₹) Date Particulars J.F. Amount (₹)
2017              
Dec. 16 Sales A/c   1,14,000        
Dec. 16 Outpput IGST A/c   20,520        

Note: Transaction on Dec. 24 will not be recorded in the Sales Book as it is a cash transaction.



Page No 13.61:

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 mistake in the invoice ₹ 16,000.

Answer:

Purchases Return Book of Modern Furniture House, Udaipur (Rajasthan)        
Date Particulars Debit  Note No. L.F. Details (₹) Purchases Return
(₹)
Input CGST
(₹)
Input SGST
(₹)
Input IGST
(₹)
Total Amount
(₹)
2017                  
Nov. 07 Sachdeva Furniture Store, Ahemdabad (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
                   
Nov. 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
Nov. 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
                   
Nov. 28 Delhi Furniture Shop, Ahemdabad (Gujarat)     16,000          
    Add: 12% IGST     1,920          
        17,920 16,000 1,920 17,920
Nov. 30           1,00,500 3,720 3,720 4,620 1,12,560
                   
 
Purchases Return Account
Dr.   Cr.
Date Particulars J.F. Amount (₹) Date Particulars J.F. Amount (₹)
        2017      
        Nov. 30 Sundries as per Purchases Return Book   1,00,500
               
 
India Furniture House Account
Dr.   Cr.
Date Particulars J.F. Amount (₹) Date Particulars J.F. Amount (₹)
2017              
Nov. 22 Purchases Return A/c   12,000        
Nov. 22 Input CGST A/c   720        
Nov. 22 Input SGST A/c   720        
 
Delhi Furniture Shop Account
Dr.   Cr.
Date Particulars J.F. Amount (₹) Date Particulars J.F. Amount (₹)
2017              
Nov. 28 Purchases Return A/c   16,000        
Nov. 28 Input IGST   1,920        
 
Sachdeva Furniture Store Account
Dr.   Cr.
Date Particulars J.F. Amount (₹) Date Particulars J.F. Amount (₹)
2017              
Nov. 07 Purchases Return A/c   22,500        
Nov. 07 Input IGST   2,700        
 
Arora & Co. Account
Dr.   Cr.
Date Particulars J.F. Amount (₹) Date Particulars J.F. Amount (₹)
2017              
Nov. 24 Purchases Return A/c   50,000        
Nov. 24 Input CGST A/c   3,000        
Nov. 24 Input SGST A/c   3,000        

Page No 13.61:

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 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.

Answer:

Sales Return Book of M/s Kanitkar & Co. , Mumbai (Maharashtra)        
Date Particulars Credit Note No. L.F. Details (₹) Sales Return (₹) Output CGST
(₹)
Output SGST
(₹)
Output IGST
(₹)
Total Amount
(₹)
2018                  
Jan. 05 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
Jan. 10 Shah Brothers, Jaipur (Rajasthan)     30,000          
    Add: 5% IGST     1,500          
        31,500 30,000 - - 1,500 31,500
Jan. 16 Jai Singh & Co., Mathura (U.P.)     10,000          
    Add: 5% IGST     500          
        10,500 10,000 - - 500 10,500
Jan. 20 Gopalsons, Mumbai     20,000          
    Add: 2.5% CGST     500          
             2.5% SGST     500          
        21,000 20,000 500 500 - 21,000
Jan. 31 Sales Return A/c Dr.       96,000 1,400 1,400 2,000 1,00,800
                   
 
Sales Return Account
Dr.   Cr.
Date Particulars J.F. Amount (₹) Date Particulars J.F. Amount (₹)
2018              
Jan. 31 Sundries as per Sales Return Book   96,000        
               
 
Shah Brothers Account
Dr.   Cr.
Date Particulars J.F. Amount (₹) Date Particulars J.F. Amount (₹)
        2018      
        Jan. 10 Sales Return A/c   30,000
        Jan. 10 Output IGST   1,500
 
Gopalsons Account
Dr.   Cr.
Date Particulars J.F. Amount (₹) Date Particulars J.F. Amount (₹)
        2018      
        Jan. 20 Sales Return A/c   20,000
        Jan. 20 Output CGST   500
        Jan. 20 Output SGST   500
 
Giriraj & Co. Account
Dr.   Cr.
Date Particulars J.F. Amount (₹) Date Particulars J.F. Amount (₹)
        2018      
        Jan. 05 Sales Return A/c   36,000
        Jan. 05 Output CGST   900
        Jan. 05 Output SGST   900
 
Jai Singh & Co. Account
Dr.   Cr.
Date Particulars J.F. Amount (₹) Date Particulars J.F. Amount (₹)
        2018      
        Jan. 16 Sales Return A/c   10,000
        Jan. 16 Output IGST   500

Page No 13.61:

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

Answer:

Purchases Book
Date Particulars L.F. Details (Rs) Amount (Rs)
2017        
Mar. 02 Navrang Traders     8,300
Mar. 05 Ruchi Traders      12,100
Mar. 10 Jaipur Stores   15,400  
    Less: 5% Trade Discount   770 14,630
Mar. 12 Amit Traders      10,000
Mar. 22 Navrang Traders     25,000
Mar. 31 Purchases A/c                                                 Dr.     70,030
         
 
Sales Book
Date Particulars L.F. Details (Rs) Amount (Rs)
2017        
Mar. 03 Rohan     3,200
Mar. 12 Arun Traders   18,000  
    Less: 15% Trade Discount   2,700 15,300
Mar. 20 Kalpana & Co.     14,700
Mar. 26 Rupa Traders    10,000  
    Less: 10% Trade Discount   1,000 9,000
Mar. 31 Sales A/c                                                 Cr.     42,200
         
 
Purchases Return Book
Date Particulars Debit  Note No. L.F. Details (Rs) Amount (Rs)
2017          
Mar. 18 Jaipur Stores     800  
    Less: 5% Trade Discount     40 760
Mar. 25 Navrang Traders       1,200
Mar. 31 Purchases Return A/c                Cr.       1,960
           
 
Sales Return Book
Date Particulars Credit Note No. L.F. Details (Rs) Amount (Rs)
2017          
Mar. 08 Rohan       600
Mar. 19 Arun Traders     3,000  
    Less: 15% Trade Discount     450 2,550
Mar. 29 Kalpana & Co.       2,000
Mar. 31 Sales Return A/c                Dr.       5,150
           
 
Purchases Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017              
Mar. 31 Sundries as per Purchases Book   70,030        
               
 
Navrang Traders Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Mar. 25 Purchases Return A/c   1,200 Mar. 02 Purchases A/c   8,300
        Mar. 22 Purchases A/c   25,000
               
 
Ruchi Traders Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
        2017      
        Mar. 05 Purchases A/c   12,100
               
 
Amit Traders Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
        2017      
        Mar. 12 Purchases A/c   10,000
               
 
Jaipur Stores Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Mar. 18 Purchases Return A/c   760 Mar. 10 Purchases A/c   14,630
               
 
Sales Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
        2017      
        Mar. 31 Sundries as per Sales Book   42,200
               
 
Rohan’s Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Mar. 03 Sales A/c   3,200 Mar. 08 Sales Return A/c   600
               
 
Arun Traders Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Mar. 12 Sales A/c   15,300 Mar. 19 Sales Return A/c   2,550
               
 
Kalpana & Co. Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Mar. 20 Sales A/c   14,700 Mar. 29 Sales Return A/c   2,000
               
 
Rupa Traders Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017              
Mar. 26 Sales A/c   9,000        
               
 
Purchases Return Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
        2017      
        Mar. 31 Sundries as per Purchases Return Book   1,960
               
 
Sales Return Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017              
Mar. 31 Sundries as per Sales Return Book   5,150        
               



Page No 13.62:

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.
 

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.

Answer:

Cash Book
Dr.  
Date Particulars L.F. Cash (Rs) Bank (Rs) Date Particulars L.F. Cash (Rs) Bank (Rs)
2017         2017        
April 01 Balance b/d   27,500 40,000 April 02 Bank A/c C 20,000
April 01 Sales A/c   18,000 April 05 Dinesh’s A/c   25,000
April 02 Cash A/c C 20,000 April 18 Purchases A/c   10,000
April 12 Ashok’s A/c   8,000 40,000 April 20 Dinesh’s A/c   17,820
April 19 Charu’s A/c   29,400 April 22 Shiva Ltd.   45,000
April 30 Interest A/c   600 April 24 Drawings A/c   6,000
          April 27 Rent A/c   3,000
          April 27 Salaries A/c   8,000
          April 30 Balance c/d   6,500 42,180
      53,500 1,30,000       53,500 1,30,000
May 01 Balance b/d   6,500 42,180          
                   
 
Purchases Book
Date Particulars L.F. Details (Rs) Amount (Rs)
2017        
April 03 Dinesh      
    300 metres Cotton @Rs 60 per metre   18,000  
    200 metres Silk @Rs 100 per metre   20,000 38,000
April 25 Ganesh       
    200 metres Cotton @Rs 70 per metre   14,000  
    Less: 5% Trade Discount   700 13,300
April 30 Purchases A/c                                                 Dr.     51,300
         
 
Sales Book
Date Particulars L.F. Details (Rs) Amount (Rs)
2017        
April 08 Ashok      
    400 metres Cotton @Rs 80 per metre   32,000  
    250 metres Silk @Rs 140 per metre   35,000 67,000
April 30 Sales A/c                                                 Cr.     67,000
         
 
Sales Return Book
Date Particulars Credit  Note No. L.F. Details (Rs) Amount (Rs)
2017          
April 10 Ashok        
    50 metres Silk @Rs 140 per metre     7,000 7,000
April 30 Sales Return A/c                Dr.       7,000
           
 
Journal
Date Particulars L.F. Debit Amount (Rs) Credit Amount (Rs)
2017          
April 01 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
  (Balances of previous year brought forward)        
           
April 06 Dinesh’s A/c Dr.   15,000  
    To Bills Payable A/c       15,000
  (Acceptance given for bill drawn by Dinesh)        
           
April 13 Bills Receivable A/c Dr.   20,000  
    To Bahadur’s A/c       20,000
  (Bills receivable received from one of our debtor, Bahadur)        
           
April 15 Ekta’s A/c Dr.   15,000  
    To Bills Payable A/c       15,000
  (Acceptance given for bill drawn by Ekta)        
           
April 16 Computer A/c Dr.   45,000  
    To Shiva Ltd.       45,000
  (Computer purchased on credit)        
           
April 19 Discount Allowed A/c Dr.   600  
     To Charu       600
  (Discount of 2% allowed to Charu)        
           
April 20 Dinesh Dr.   180  
     To Discount Received A/c       180
  (Discount of 1% received from Dinesh)        
           
April 24 Drawings A/c Dr.   5,000  
    To Purchases A/c       5,000
  (Goods withdrawn by proprietor)        
  TOTAL   4,41,280 4,41,280
         
 
Sales Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
April 30 Balance c/d   85,000 April 01 Cash A/c   18,000
        April 30 Sundries as per Sales Book   67,000
      85,000       85,000
        2017      
        May 01 Balance b/d   85,000
 
Ashok’s Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
April 01 Balance b/d   18,000 April 12 Cash A/c   8,000
April 08 Sales A/c   67,000 April 12 Bank A/c   40,000
        April 10 Sales Return A/c   7,000
        April 30 Balance c/d   30,000
      85,000       85,000
2017              
May 01 Balance b/d   30,000        
 
Charu’s Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
April 01 Balance b/d   30,000 April 19 Bank A/c   29,400
        April 19 Discount Allowed A/c   600
      30,000       30,000
               
 
Interest Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
April 30 Balance c/d   600 April 30 Bank A/c   600
      600       600
        2017      
        May 01 Balance b/d   600
 
Dinesh’s Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
April 05 Bank A/c   25,000 April 01 Balance b/d   20,000
April 06 Bills Payable A/c   15,000 April 03 Purchases A/c   38,000
April 20 Bank A/c   17,820        
April 20 Discount Received A/c   180        
      58,000       58,000
               
 
Shiva Ltd. Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
April 22 Bank A/c   45,000 April 16 Computer A/c   45,000
      45,000       45,000
               
 
Purchases Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
April 18 Cash A/c   10,000 April 24 Drawings A/c   5,000
April 30 Sundries as per Purchases Book   51,300 April 30 Balance c/d   56,300
      61,300       61,300
2017              
May 01 Balance b/d   56,300        
 
Drawings Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
April 24 Cash A/c   6,000 April 30 Balance c/d   11,000
April 24 Purchases A/c   5,000        
      11,000       11,000
2017              
May 01 Balance b/d   11,000        
 
Rent Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
April 27 Cash A/c   3,000 April 30 Balance c/d   3,000
      3,000       3,000
2017              
May 01 Balance b/d   3,000        
 
Ganesh’s Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
April 30 Balance c/d   13,300 April 25 Purchases A/c   13,300
      13,300       13,300
        2017      
        May 01 Balance b/d   13,300
 
Bahadur’s Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
April 01 Balance b/d   25,000 April 13 Bills Receivable A/c   20,000
        April 30 Balance c/d   5,000
      25,000       25,000
2017              
May 01 Balance b/d   5,000        
 
Salaries Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
April 27 Cash A/c   8,000 April 30 Balance c/d   8,000
      8,000       8,000
2017              
May 01 Balance b/d   8,000        
 
Sales Return Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
April 30 Sundries as per Sales Return Book   7,000 April 30 Balance c/d   7,000
      7,000       7,000
2017              
May 01 Balance b/d   7,000        
 
Stock Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
April 01 Balance b/d   1,60,000 April 30 Balance c/d   1,60,000
      1,60,000       1,60,000
2017              
May 01 Balance b/d   1,60,000        
 
Furniture Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
April 01 Balance b/d   40,000 April 30 Balance c/d   40,000
      40,000       40,000
2017              
May 01 Balance b/d   40,000        
 
Ekta’s Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
April 15 Bills Payable A/c   15,000 April 30 Balance b/d   15,000
      15,000       15,000
               
 
Bills Payable Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
April 30 Balance c/d   30,000 April 06 Dinesh’s A/c   15,000
        April 15 Ekta’s A/c   15,000
      30,000       30,000
        2017      
        May 01 Balance b/d   30,000
 
Computer Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
April 16 Shiva Ltd.   45,000 April 30 Balance c/d   45,000
      45,000       45,000
2017              
May 01 Balance b/d   45,000        
 
Discount Allowed Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
April 19 Charu’s A/c   600 April 30 Balance c/d   600
      600       600
2017              
May 01 Balance b/d   600        
 
Bills Receivable Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
April 13 Bhadur’s A/c   20,000 April 30 Balance c/d   20,000
      20,000       20,000
2017              
May 01 Balance b/d   20,000        
 
Capital Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
April 30 Balance c/d   3,05,500 April 01 Balance b/d   3,05,500
      3,05,500       3,05,500
        2017      
        May 01 Balance b/d   3,05,000
 
Discount Received Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
April 30 Balance c/d   180 April 20 Dinesh’s A/c   180
      180       180
        2017      
        May 01 Balance b/d   180
 
Trial Balance
as on April 30, 2017
Name of Accounts   L.F Debit
Balances
Amount
(Rs)
Credit Balances Amount (Rs)
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
       



Page No 13.63:

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:

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.

Answer:

Cash Book
Dr.   Cr.
Date Particulars L.F. Cash (Rs) Bank (Rs) Discount
(Rs)
Date Particulars L.F. Cash (Rs) Bank (Rs) Discount
(Rs)
2017           2017          
Jan. 01 Capital A/c   2,00,000 Jan. 02 Bank A/c C 1,75,000
Jan. 02 Cash A/c C 1,75,000 Jan. 06 Dilip’s A/c   16,800 200
Jan. 15 Sales A/c   8,000 Jan. 08 Purchases A/c   14,000
Jan. 18 Mohinder’s A/c   7,900 100** Jan. 13 Suresh’s A/c   58,800 1,200*
Jan. 21 Cash A/c C 20,000 Jan. 21 Bank A/c C 20,000
Jan. 27 Banerjee’s A/c   49,000 1,000 Jan. 25 Furniture A/c   40,000
            Jan. 25 Typewriter A/c   10,000
            Jan. 28 Stationery A/c   400
            Jan. 28 Postage A/c   200
            Jan. 31 Drawings A/c   2,500
            Jan. 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. 01 Balance b/d   6,300 1,15,900            
                       


 

Purchases Book
Date Particulars L.F. Details (Rs) Amount (Rs)
2017        
Jan. 04 Dilip   40,000  
    Less: 20% Trade Discount   8,000 32,000
Jan. 11 Suresh     75,000
Jan. 31 Purchases A/c Dr.     1,07,000
         

 

Sales Book
Date Particulars L.F. Details (Rs) Amount (Rs)
2017        
Jan. 16 Mohinder     20,000
Jan. 20 Banerjee     50,000
Jan. 25 Anubhav     30,000
 Jan. 31 Sales A/c Cr.     1,00,000
         

 

Sales Return Book
Date Particulars Credit  Note No. L.F. Details
(Rs)
Amount (Rs)
2017          
Jan. 17 Mohinder       1,500
Jan. 27 Anubhav       5,000
Jan. 31 Sales Return A/c Dr.       6,500
           

    

Journal
Date Particulars L.F. Debit Amount (Rs) Credit Amount (Rs)
2017          
Jan. 06  Dilip Dr.   200  
     To Discount Received A/c       200
  (Discount of Rs 200 received from Dilip)        
           
Jan. 10 Dilip’s A/c Dr.   15,000  
    To Bills Payable A/c       15,000
  (Acceptance given to the bill drawn by Dilip)        
           
Jan. 13 Suresh Dr.   1,200*  
     To Discount Received A/c       1,200*
  (Discount of 2% received from Suresh)        
           
Jan. 18 Discount Allowed A/c Dr.   100**  
     To Mohinder       100**
  (Discount of 1.25% allowed to Mohinder)        
           
Jan. 25 Drawings A/c Dr.   2,000  
    To Purchases A/c       2,000
  (Goods taken for personal use)        
           
Jan. 27 Discount Allowed A/c Dr.   1,000  
     To Banerjee       1,000
  (Discount of 2% allowed to Banerjee)        
           
Jan. 28 Bills Receivable A/c Dr.   25,000  
    To Anubhav’s A/c       25,000
  (Acceptance received from Anubahv)        
  TOTAL   44,500 44,500
         

Sales Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan. 31 Balance c/d   1,08,000 Jan. 15 Cash A/c   8,000
        Jan. 31 Sundries as per Sales Book   1,00,000
      1,08,000       1,08,000
        2017      
        Feb. 01 Balance b/d   1,08,000

 

Capital Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan. 31 Balance c/d   2,00,000 Jan. 01 Cash A/c   2,00,000
      2,00,000       2,00,000
        2017      
        Feb. 01 Balance b/d   2,00,000

 

Purchases Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan. 08 Cash A/c   14,000 Jan. 25 Drawings A/c   2,000
Jan. 31 Sundries as per Purchases Book   1,07,000 Jan. 31 Balance c/d   1,19,000
      1,21,000       1,21,000
2017              
Feb. 01 Balance b/d   1,19,000        

 

Mohinder’s Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan. 16 Sales A/c   20,000 Jan. 18 Cash A/c   7,900
        Jan. 18 Discount Allowed A/c   100
        Jan. 17 Sales Return A/c   1,500
        Jan. 31 Balance c/d   10,500
       20,000       20,000
2017              
Feb. 01 Balance b/d   10,500        

 

Banerjee’s Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan. 20 Sales A/c   50,000 Jan. 27 Bank A/c   49,000
        Jan. 27 Discount Allowed A/c   1,000
      50,000       50,000
               

 

Dilip’s Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan. 06 Bank A/c   16,800 Jan. 04 Purchases A/c   32,000
Jan. 06 Discount Received A/c   200        
Jan. 10 Bills Payable A/c   15,000        
      32,000       32,000
               

 

Suresh’s Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan. 13 Bank A/c   58,800 Jan. 11 Purchases A/c   75,000
Jan. 13 Discount Received A/c   1,200        
Jan. 31 Balance c/d   15,000        
      75,000       75,000
        2017      
        Feb. 01 Balance b/d   15,000

 

Furniture Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan. 25 Bank A/c   40,000 Jan. 31 Balance c/d   40,000
      40,000       40,000
2017              
Feb. 01 Balance b/d   40,000        

 

Stationery Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan. 28 Cash A/c   400 Jan. 31 Balance c/d   400
      400       400
2017              
Feb. 01 Balance b/d   400        

 

Drawings Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan. 25 Purchases A/c   2,000 Jan. 31 Balance c/d   4,500
Jan. 31 Bank A/c   2,500        
      4,500       4,500
2017              
Feb. 01 Balance b/d   4,500        

 

Typewriter Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan. 25 Bank A/c   10,000 Jan. 31 Balance c/d   10,000
      10,000       10,000
2017              
Feb. 01 Balance b/d   10,000        

 

Postage Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan. 28 Cash A/c   200 Jan. 31 Balance c/d   200
      200       200
2017              
Feb. 01 Balance b/d   200        

 

Anubhav’s Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan. 25 Sales A/c   30,000 Jan. 27 Sales Return A/c   5,000
        Jan. 28 Bills Receivable A/c   25,000
      30,000       30,000
               

 

Bills Payable Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan. 31 Balance c/d   15,000 Jan. 10 Dilip’s A/c   15,000
      15,000       15,000
        2017      
        Feb. 01 Balance b/d   15,000

 

Bills Receivable Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan. 28 Anubhav’s A/c   25,000 Jan. 31 Balance c/d   25,000
      25,000       25,000
2017              
Feb. 01 Balance b/d   25,000        

 

Discount Allowed Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan. 18 Mohinder’s A/c   100 Jan. 31 Balance c/d   1,100
Jan. 27 Banerjee’s A/c   1,000        
      1,100       1,100
2017              
Feb. 01 Balance b/d   1,100        

 

Sales Return Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan. 31 Sundries as per Sales Return Book   6,500 Jan. 31 Balance c/d   6,500
      6,500       6,500
2017              
Feb. 01 Balance b/d   6,500        

 

Discount Received Account
Dr.   Cr.
Date Particulars J.F. Amount (Rs) Date Particulars J.F. Amount (Rs)
2017       2017      
Jan. 31 Balance c/d   1,400 Jan. 06 Dilip’s A/c   200
        Jan.  13 Suresh’s A/c   1,200
      1,400       1,400
        2017      
        Feb. 01 Balance b/d   1,400

 

Trial Balance
as on Jan. 31, 2017
Name of Accounts L.F. Debit
Balances

Amount
(Rs)
Credit
Balances

Amount
(Rs)
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
       

Page No 13.63:

Question 12:

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.

Answer:

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)



View NCERT Solutions for all chapters of Class 13