TS Grewal Accountancy Class 11 Solutions Chapter 5 Journal

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Class 11 Accountancy Chapter 5 – Journal

Question 1:

Without Goods & Service Tax (GST)

Journalize the transaction of Deepak for January 2019.

Date Particulars
2018
01 April
02 April
03 April
04 April
13 April
20 April
24 April
28 April
28 April
30 April
30 April
30 April
Deepak began business with Cash
Credited to bank
Bought goods from cash
Withdrew cash from bank for office use
Traded goods to Thomas on Credit
Purchased goods from Rubin on Credit
Received from Thomas
Allowed him discount
Paid cash to Rubin
Discount received
Thomas returned goods
Cash sale for the month
Paid Rent
Paid Salary
2,00,000
30,000
70,000
20,000
25,000
32,500
12,500
500
30,500
2,000
3,000
1,00,000
10,000
20,000

 

Solution:

Books for Deepak
JOURNAL
Date Particulars L.F. Dr.
RS
Cr.
RS
2018
01 April
Cash A/C Dr.
To Capital A/C
(Being Deepak began his business with cash)
2,00,000
2,00,000
02 April
Bank A/C Dr.
To Cash A/C
(Being cash paid to the bank)
30,000 30,000
03
April
Purchase A/C DR
To Cash A/C
(Being goods purchased for cash)
70,000 70,000
04 April
Cash A/C Dr.
To Bank A/C
(Being cash withdrew for office use)
20,000 20,000
13 April
Thomas A/C Dr.
To Sales A/C
(Being goods sold to Thomas on credit)
25,000 25,000
20 April
Purchased A/C Dr.
To Rubin A/C
(Being goods purchased from Rubin on credit)
32,500 32,500
24 April
Cash A/C Dr.
Discount A/C
To Capital A/C
(Being cash received from Thomas & discount allowed)
12,500
500
13,000
28 April
Rubin A/C Dr.
To Cash A/C
To discount A/C
(Being cash paid to Deepak and discount received)
32,500 30,500
2,000
28 April
Sales Return A/C Dr.
To Thomas A/C
(Being goods return by Thomas)
3,000 3,000
30 April
Cash A/C Dr.
To Sales A/C
(Being goods sold by cash)
1,00,000
1,00,000
30
April
Rent A/C Dr.
Salary A/C
To Cash A/C
(Being rent & salary paid)
10,000
20,000
30,000

 

Question 2:

Journalise the following transaction.

Sr. No. Particulars Rs.
i Compensation of 75 paise in a rupee was received from Gopal’s official receiver. He owned us. 10,000
ii Cash received for a bad debt written off last year. 10,000
iii Due Rent to Landlord 9,000
iv Salaries due to clerks 12,000
v
Placed an order with Sam for the supply of goods of the list price ₹1,00,000. In this regards, Sheetal paid 10% of the price in advance by cheque.

 

Solution:

JOURNAL
Date Particulars L.F. Dr. Rs. Cr. Rs.
i
Cash A/C Dr.
Bad debt A/C Dr.
To Gopal A/C
(Being insolvency to Gopal with 75paise in a rupee recoverable)
7,500
2,500
10,000
ii
Cash A/C Dr.
To Bad debts recovered A/C
(Being amount written off as bad debts recovered)
10,000 10,000
iii
Rent A/C Dr.
To Outstanding Rent A/C
(Being rent due to the landlord)
9,000 9,000
iv
Salary A/C Dr.
To Outstanding Salary A/C
(Being salary due to the Clerk)
12,000 12,000
v
Advance to Sam A/C Dr.
To Bank A/C
(Being paid advanced to Sam for a future order)
10,000 10,000

 

Question 3:

Journalise the following transactions.

(i) Products worth ₹10,000 given as charity.

(ii) Goods sold to Anu for ₹ 1,20,000, 20% payable by cheques at the time of sale and balance after 30 days of sale.

(iii) Received 800 from Deep in full settlement of his account for Rs. 1,000

(iv) Received dividend of 60 paise in a rupee from an official receiver of Raj, who owned us ₹12,00

(v) Depreciation on plant ₹2,000

(vi) Interest charge in Drawings ₹1,800

(vii) Goods sold on ₹50,000 to Sameer for cash at a profit of 30% on cost less 20% trade discount and charged 7% value-added tax and paid cartage ₹200, which should not be charged from the customer.

Solution:

JOURNAL
Date Particulars L.F. Dr. Rs. Cr. Rs.
i
Charity A/c Dr.
To Purchase A/c
(Being products given to charity)
10,000 10,000
ii
Bank A/c Dr.
Anu A/c Dr.
To Purchase A/c
(Being products sold partially through bank and credit)
30,000
90,000
1,20,000
iii
Cash A/c Dr.
Discount allowed A/c Dr.
To Deep A/c
(Being cash received from Deep in full settlement)
800
200
1,000
iv
Cash A/c Dr.
Bad debt A/c Dr.
To Raj A/c
(Being first & final dividend received from Raj in full settlement of his debt)
720
480
1,200
v
Depreciation A/c Dr.
To Plant A/c
(Being depreciation charged on plant)
2,000 2,000
vi
Drawing A/c Dr.
To interest on drawing A/c
(Being products given to charity)
1,800 1,800
vii
Cash A/c Dr.
To Sales A/c
To VAT A/c
(Being products sold to sameer at 10% discount and 8% VAT)
53,500 50,000
3,500
viii
Cartage A/c Dr.
To Cash A/c
(Being cartage paid)
200 200

 

Question 4:

Prepare a journal entry for the purchase of goods by Amit, Punjab from Herbal products, Mumbai, Maharashtra for ₹30,000 less trade discount @ 20% plus IGST @ 10%.

Solution:

Date Particulars L.F Dr. Rs. Cr. Rs.
Purchases A/c (30,000- 20%) Dr.
Input IGST @10% Dr.
To Herbal products, Mumbai, Maharashtra
(Being goods purchased at less than 20% trade discount, payable IGST @10%)
24,000
2,400
26,400

 

Question 5:

State the accounts to be credited along with the amount for payment to Aaron of ₹5,000 by cheque in full settlement of 6,000.

Solution:

Full settlement of Rs. 6,000
Paid amount 6,000
Less:Paid cheques by Aaron 5,000
Discount Received 1,000

 

Date Particulars L.F Dr. Rs. Cr.Rs.
Aaron A/c Dr.
To Bank A/c
To discount received A/c
(Being full settlement of Rs 6,000)
6,000 5,000
1,000

 

Question 6:

Prepare a journal entry for a sale of goods by Shweta, Delhi to Madan, Delhifor 10,000 less 10% trade discount and 2% cash discount. Assume payment is received at the time of sale . CGST & SGST is levied at 6% each.

Solution:

Date Particulars L.F Dr. Rs. Cr. Rs.
Cas/Bank A/c Dr.
Discount allowed A/c (10,080 x 2%) Dr.
To Sales A/c
To Output CGST @ 6% A/c
To Output SGST @ 6% A/c
(Being goods sale @10% trade discount and cash discount allowed 2%, payable CGST and SGST @6% each))
9,878
202
9,000
540
540

 

Question 7:

M/s Auto pvt. Ltd., Kolkata bought 600 numbers of motorcycle seats @ 200 each plus IGST @ 12% from M/s T.G, Auto, Bhopal. Settled trade terms were: Trade discount allowed @ 10% and cash discount @ 5% if payment is made within a week. M/s Auto pvt. Ltd., Kolkata made the payment after 30 days. Find out the trade and cash discount.

Solution:

Calculation of trade discount
Bought 600 numbers of motorcycle seats @ 200 each 1,20,000
Less:Trade discount @ 10% 12,000
1,08,000
Add: Input IGST @ 12% 21,600

 

86,4000 : Here, the cash discount is not included as the payment was made after 30 days.

In the book of M/s Auto pvt. Ltd., Kolkata
JOURNAL
Date Particulars L.F Dr. Rs. Cr. Rs.
Purchase A/c Dr.
Input IGST @12 % Dr.
To M/s T.G Auto
(Being motorcycle seat purchase @ 10% trade discount, payable IGST @ 12%)
1,08,000
21,600
1,29,600

 

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