Accountancy Dk Goel 2019 for Class 11 Commerce Accountancy Chapter 7 - Ledger

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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	(Cash withdrawn and fan purchased for personal use)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 $12 \frac{1}{2}$ % Trade Discount.
18	Purchased furniture from Fashion Furniture House, Chandigarh of the list price of ₹ 2,50,000, less 15%.
20	Purchased from India Furniture House, New Delhi :
	100 Chairs @ ₹ 1,800 each
25	Purchased from Mohan Lal & Sons furniture of the value of ₹ 20,000 for cash.

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
	Less: $12 \frac{1}{2} %$ Trade Discount			25,000
				1,75,000
	Add: 6% CGST			10,500
	6% SGST			10,500
				1,96,000	1,75,000	10,500	10,500	-	1,96,000
Nov. 18	Fashion Furniture House, Chandigarh (Punjab)			2,50,000
	Less: 15% Discount			37,500
				2,12,500
	Add: 6% CGST			12,750
	6% SGST			12,750
				2,38,000	2,12,500	12,750	12,750	-	2,38,000
Nov. 20	India Furniture House, New Delhi
	100 Chairs @ 1,800 each			1,80,000
	Add: 12% IGST			21,600
				2,01,600	1,80,000	-	-	21,600	2,01,600
Nov. 30	Purchases A/c	Dr.			7,02,500	23,250	23,250	37,800	7,86,800

Purchases Account
Dr.								Cr.
Date	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

Jan. 01

Capital A/c

2,00,000

–

Jan. 02

Bank A/c

1,75,000

–

Jan. 02

Cash A/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

–

20,000

–

Jan. 21

Bank A/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)

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