TS Grewal Solutions for Class 11 Accountancy Chapter 6 Ledger

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Class 11 Accountancy Chapter 6 – Ledger

Question 1:

On 1st May 2018, Mohan started a business with a capital of Rs. 50,000. Below is the transaction he made.

2018 Particulars
April 3 Purchased goods from Rima on credit 20,000
April 4 Cash paid to Rima 10,000
April 6 Goods sold to Ramon 25,000
April 8 Received cash from Ramon 20,000
April 12 Goods purchased from Rima 12,000
April 18 Cas paid to Rima 20,000
April 25 Goods sold to Ramon 10,000
April 30 Received cash from Ramon 6,000

 

Prepare a journal and ledger for the account.

Solution:

JOURNAL
Date Particulars L.F. Dr. (₹) Cr. (₹)
2018
April 1
Cash A/C Dr.
To Capital A/C
(Being started business with cash)
50,000 50,000
April 3 Purchase A/C Dr.
To Rima A/C
(Being goods purchased on credit)
20,000 20,000
April 4 Rima A/C Dr.
To Cash A/C
(Being paid to Rima)
10,000 10,000
April 6 RamonA/C Dr.
To Sales A/C
(Being goods sold to Ramon on credit)
25,000 25,000
April 8 Cash A/C Dr.
To Ramon A/C
(Being cash received from Ramon)
20,000 20,000
April 12 Purchased A/C Dr.
To Rima A/C
(Being goods purchased on credit)
12,000 12,000
April 18 Rima A/C Dr.
To Cash A/C
(Being started business with cash)
20,000 20,000
April 25 Ramon A/C Dr.
To Sales A/C
(Being started business with cash)
10,000 10,000
30 April Cash A/C Dr.
To Ramon A/C
(Being started business with cash)
6,000 6,000

 

Ledgers
Dr. Cash Account Cr.
Date
2018
Particulars J.F Date
2018
Particulars J.F
April 1 To Capital A/c 50,000 April 4 To Rima A/c 10,000
April 8 To Ramon A/c 20,000 April 18 To Rima A/c 20,000
April 30 To Rima A/c 6,000 April 30 By Balance c/d 46,000
76,000 76,000
May 1 To balance b/d 46,000

 

Ledgers
Dr. Capital Account Cr.
Date
2018
Particulars J.F Date
2018
Particulars J.F
April 30 To Balance c/d 50,000 April 1 By Cash A/c 50,000
50,000 50,000
April 30 By Balance b/d 50,000

 

Ledgers
Dr. Purchase Account Cr.
Date
2018
Particulars J.F Date
2018
Particulars J.F
April 3 To Rima A/c 20,000 April 1 By Balance c/d 32,000
April 12 To Rima A/c 12,000
32,000 April 30
May 1 To Balance b/d 32,000

 

Ledgers
Dr. Rita’s Account Cr.
Date
2018
Particulars J.F Date
2018
Particulars J.F
April 4 To Cash A/c 10,000 April 3
By Purchase A/c
20,000
April 18 To Cash A/c 20,000 April 12
By Purchase A/c
12,000
April 30 To Balance c/d 2,000 32,000
32,000 May 1 2,000

 

Ledgers
Dr. Ramon’s Account Cr.
Date
2018
Particulars J.F Date
2018
Particulars J.F
April 6 To Sale A/c 25,000 April 3
By Purchase A/c
20,000
April 25 To Sale A/c 10,000 April 12
By Purchase A/c
6,000
35,000 By Balance c/d 9,000
May 1 To Balance b/d 9,000 35,000

 

Ledgers
Dr. Sale’s Account Cr.
Date
2018
Particulars Rs. Date
2018
Particulars J.F
April 30 To Balance c/d 35,000 April 3 By Rohit’s A/c 25,000
35,000 April 12 By Rohit’s A/c 10,000
35,000
May 1 By Balance b/d 35,000

 

Question 2:

Pass the necessary Journal entries of M/s Nestle Traders, Bangalore from the following transactions. Post the same to the ledger.

2018
April 1
April 2
April 3
April 7
April 8
April 10
April 14
April 16
April 18
April 20
April 22
April 23
April 25
April 30
Commenced business with cash
Opened a bank a/c with SBI
Purchased furniture
Bought goods from M/s. BritanniaTraders, Bangalore
Purchased goods from M/s. Cadbury Traders, Mysore
Cash sales
Sold goods on credit to M/s. Lindt Traders, Kerala
Rent paid
Paid electricity expenses
Received cash from Lindt Traders
Goods returned to Cadbury Traders
Cash paid to Cadbury Traders
Bought postage stamps
Salary paid to Priyata
₹.
1,50,000
50,000
20,000
30,000
42,000
30,000
12,000
4,000
1,000
12,000
2,000
40,000
100
4,000

 

Solution:

JOURNAL
Date Particulars L.F. Dr. (₹) Cr. (₹)
2018
April 1
Cash a/c Dr.
To Capital a/c
(Started business with cash)
1,50,000
1,50,000
April 2 Bank a/c Dr.
To Cash
(Opened bank a/c)
50,000 November 21
April 3
Furniture a/c Dr.
Input CGST a/c Dr.
Input SGST a/c Dr.
To Cash a/c
(Furniture purchased with CGST and SGST @ 6% each)
20,000
1,200
1,200
April 29
April 7
Purchase a/c Dr.
Input CGST a/c Dr.
Input SGST a/c Dr.
To Cash a/c
(Goods purchased with CGST and SGST @ 6% each)
30,000
1,800
1,800
December 28
April 8 Purchases a/c Dr.
Input IGST Dr.
To M/s. Cadbury Traders a/c
(Goods purchased with IGST @ 12%)
42,000
5,040
47,040
April 10
Cash a/c Dr.
To Sales a/c
To Output CGST a/c
To Output SGST a/c
(Goods sold with CGST and SGST @ 6% each)
33,600 30,000
1,800
1,800
April 14 M/s. Lindt Traders a/c Dr.
To Sales a/c
To Output IGST a/c
(Goods sold with IGST @ 12%)
13,440 12,000
1,440
April 16 Rent a/c Dr.
Input CGST a/c Dr.
Input SGST a/c Dr.
To Cash a/c
(Rent paid)
4,000
240
240
4,480
18 April Electricity Expenses a/c Dr.
To Cash a/c
(Paid electricity expenses)
1,000 1,000
20 April Cash a/c Dr.
To Lindt Traders a/c
(Cash received from Lindt Traders)
12,000 12,000
43577 Cadbury Traders a/c Dr.
To Purchases returns a/c
To Input IGST a/c
(Goods returned)
2240 2,000
240
43,578 Cadbury Traders a/c Dr.
To Cash a/c
(Cash paid)
40000 40000
43580 Postage a/c Dr.
To Cash a/c
(Bought postage stamps)
100 100
43585 Salary a/c Dr.
To Cash a/c
(Paid salary)
4000 4000

 

Dr. Cash Account Cr.
Date Particulars J.F Date Particulars J.F
April
1
10
10
10
20
Capital a/c
Sales a/c
Output CGST a/c
Output SGST a/c
Lindt Traders a/c
1,50,000
30,000
1,800
1,800
12,000
April
2
3
3
3
7
7
7
16
16
16
18
23
25
30
30
Bank a/c
Furniture a/c
Input CGST a/c
Input SGST a/c
Purchases a/c
Input CGST a/c
Input SGST a/c
Rent a/c
Input CGST a/c
Input SGST a/c
Electricity Expenses a/c
Cadbury Traders a/c
Postage a/c
Salary a/c
Balance c/d
50,000
20,000
1,200
1,200
30,000
1,800
1,800
4,000
240
240
1,000
40,000
100
4,000
40,020
1,95,600 1,95,600

 

Dr. Cash Account Cr.
Date Particulars J.F Date Particulars J.F
April 2 Cash a/c 50,000 April 30 Balance c/d 50,000
50,000 50,000

 

Dr. Input SGST Account Cr.
Date Particulars J.F Date Particulars J.F
April 3 Cash a/c
Cash a/c
Cash a/c
1,200
1,800
240
April 30 Balance c/d 3,240
3,240 3,240

 

Dr. Output CGST Account Cr.
Date Particulars J.F Date Particulars J.F
April 30 Balance c/d 1,800 April 30 Cash a/c 1,800
1,800 1,800

 

Dr. Output SGST Account Cr.
Date Particulars J.F Date Particulars J.F
April 30 Balance c/d 1,800 April 30 Cah a/c 1,800
1,800 1,800

 

Dr. Input IGST Account Cr.
Date Particulars J.F Date Particulars J.F
April 8
Cadbury Traders a/c
5,040 April
22
30
Cadbury Traders a/c
Balance c/s
240
4,800
5,040 5,040

 

Dr. Output IGST Account Cr.
Date Particulars J.F Date Particulars J.F
April 30 Balance c/d 1,440 April
14
Lindt Traders a/c
1,440
1,440 1,440

 

Dr. Purchases Account Cr.
Date Particulars J.F Date Particulars J.F
April 7
8
Cash a/c
M/s Cadbury Traders a/c
30,000
42,000
April 30
Balance c/d
72,000
72,000 72,000

 

Dr. Purchases Return Account Cr.
Date Particulars J.F Date Particulars J.F
April 30 Balance c/d 2,000 April 22
M/s Cadbury Traders a/c
2,000
2,000 2,000

 

Dr. Cadbury Traders Account Cr.
Date Particulars J.F Date Particulars J.F
April
22
22
23
30
Purchases return a/c
Input IGST a/c
Cash a/c
Balance c/d
2,000
240
40,000
4,800
April
8
8
Purchases a/c
Input IGST
42,000
5,040
47,040 47,040

 

Dr. Furniture’s Account Cr.
Date Particulars J.F Date Particulars J.F
April 03 Cash a/c 20,000 April 30 Balance c/d 20,000
20,000 20,000

 

Dr. Sales Account Cr.
Date Particulars J.F Date Particulars J.F
April 30 Balance c/d 42,000 April 10
14
Cash a/c
Lindt a/c
30,000
12,000
42,000 42,000

 

Dr. Lindt Traders Account Cr.
Date Particulars J.F Date Particulars J.F
April 14
14
Sales a/c
Output IGST a/c
12,000
1,440
April 20
30
Cash a/c
Balance c/d
12,000
1,440
13,440 13,440

 

Dr. Salary Account Cr.
Date Particulars J.F Date Particulars J.F
April 30 Cash a/c 4,000 April 30 Balance c/d 4,000
4,000 4,000

 

Dr. Rent Account Cr.
Date Particulars J.F Date Particulars J.F
April 16 Cash a/c 4,000 April 30 Balance c/d 4,000
4,000 4,000

 

Dr. Electricity Expenses Account Cr.
Date Particulars J.F Date Particulars J.F
April 18 Cash a/c 1,000 April 30 Balance c/d 1,000
1,000 1,000

 

Dr. Postage Account Cr.
Date Particulars J.F Date Particulars J.F
April 25 Cash a/c 100 April 30 Balance c/d 100
100 100

 

Dr. Capital Account Cr.

Date Particulars J.F Date Particulars J.F
April 01 Cash a/c 1,50,000 April 30 Balance c/d
1,50,000
1,50,000
1,50,000

 

Question 3

The following balances appeared in the books of Mr. A, Delhi on April 1st, 2018:

Assets: Cash – ₹.50,000/-; Stock – ₹.30,000; Debtors – R ₹.50,000/-; Machinery – ₹.60,000/-.

Liabilities: Creditor – S ₹.30,000/-.

The following transactions took place in April, 2018:

2018
April 4
April 6
April 10
April 15
April 20
April 25
April 30
Sold goods for cash
Goods returned by R, Delhi
Purchased goods from S, Jodhpur, Rajasthan of list price ₹.10,000/- for
Bought goods at list price of ₹.15,000/- from S, Kolkata less 10% trade discount and 5% cash discount and paid 40% price immediately
Paid to S in full settlement of his a/c
Paid for the life insurance premium of the proprietor
Received for commission

7,000
1,000
9,000
38,600
500
2,000

 

Pass necessary journal entries for the above transaction, post them into ledger and prepare the Trial Balance on 30th April, 2018.

Solution:

Books of Mr. A, Delhi

Journal

Date Particulars L.F. Dr. (₹) Cr. (₹)
2018
April 1
Cash a/c Dr.
Stock a/c Dr.
Debtors a/c Dr.
Machinery a/c Dr.
To S a/c
To Capital a/c (balancing amount)
(Being balance brought forward)
50,000
30,000
50,000
60,000
30,000
1,60,000
April 4
Cash a/c Dr.
To Sales a/c
To Output CGST a/c
To Output SGST a/c
(Being sold goods for cash, paid CGST and SGST 6% each)
7,840 7,000
420
420
April 6
Sales Return a/c Dr.
Output CGST a/c
Output SGST a/c
To R a/c
(Being goods returned to R, paid CGST and SGST 6% each)
1,000
60
60
January 24
April 10 Purchase a/c Dr.
Input IGST a/c Dr.
To S a/c
(Being bought goods from S, paid IGST 12%)
9,000
1.080
August 6
April 15
Purchase a/c Dr.
Input IGST a/c Dr.
To S a/c
To Cash a/c
To Discount received a/c
(Being bought goods from S, 40% of the price paid immediately and availed 5% cash discount on payment, paid IGST 12%)
13,500
1,620
9,072
5,746
302
April 20 S a/c Dr.
To Cash a/c
To Discount received a/c
(Being paid S and discount received)
40,080 38,600
1,480
April 25 Drawings a/c Dr.
To Cash a/c
(Being paid life insurance premium of proprietor)
500 500
April 30
Cash a/c Dr.
To Commission a/c
To Output CGST a/c
To Output SGST a/c
(Being received commission, paid CGST and SGST 6% each)
2,240 2,000
120
120

 

Ledger
Dr. Cash Account Cr.
Date Particulars J.F Date Particulars J.F
2018
April 1
4
4
4
30
30
30
To balance a/c
To Sales a/c
To Output CGST a/c
To Output SGST a/c
To Commission a/c
To Output CGST a/c
To Output SGST a/c
50,000
7,000
420
420
2,000
120
120
2018
April 15
20
25
30
By Purchase a/c
By S a/c
By Drawings a/c
By Balance c/d
5,746
38,600
500
15,234
60,080 60,080

 

Dr. Capital Account Cr.
Date Particulars J.F Date Particulars J.F
2018
April 30
To Balance c/d 1,60,000 2018
April 1
By balance b/d 1,60,000
1,60,000 1,60,000

 

Dr. S Account Cr.
Date Particulars J.F Date Particulars J.F
2018
April 30
To Balance c/d 9,072 2018
April 15
By Purchase a/c 9,072
9,072 9,072

 

Dr. Stock Account Cr.
Date Particulars J.F Date Particulars J.F
2018
April 1
To Balance b/d 30,000 2018
April 30
By balance c/d 30,000
30,000 30,000

 

Dr. Debtors (Ram, Others) Account Cr.
Date Particulars J.F Date Particulars J.F
2018
April 1
To Balance b/d 50,000 2018
April 6
6
6
30
By Sales return a/c
By Output CGST a/c
By Output SGST a/c
By Balance c/d
1,000
60
60
48,880
50,000 50,000

 

Dr. Machinery Account Cr.
Date Particulars J.F Date Particulars J.F
2018
April 1
To Balance b/d 60,000 2018
April 30
By balance c/d 60,000
60,000 60,000

 

Dr. S Account Cr.
Date Particulars J.F Date Particulars J.F
2018
April 20
20
To Cash a/c
To Discount received a/c
38,600
1,480
2018
April 1
10
10
By Balance b/d
By Purchase a/c
By Input IGST a/c
30,000
9,000
1,080
40,080 40,080

 

Dr. Sales Return Account Cr.
Date Particulars J.F Date Particulars J.F
2018
April 6
To R a/c 1,000 2018
April 30
By Balance c/d 1,000
1,000 1,000

 

Dr. Drawings Account Cr.
Date Particulars J.F Date Particulars J.F
2018
April 25
To Cash a/c 500 2018
April 30
By Balance c/d 500
500 500

 

Dr. Commission Account Cr.
Date Particulars J.F Date Particulars J.F
2018
April 30
To Balance c/d 2,000 2018
April 30
By Cash a/c 2,000
2,000 2,000

 

Dr. Discount Received Account Cr.
Date Particulars J.F Date Particulars J.F
2018
April 30
To Balance c/d 1,782 2018
April 30
By Purchase a/c
By S a/c
302
1,480
1,782 1,782

 

Dr. Purchase Account Cr.
Date Particulars J.F Date Particulars J.F
2018
April 10
15
15
15
To S a/c
To R a/c
To Cash a/c
To Discount received
9,000
9,072
5,746
302
2018
April 30
By Balance c/d 24,120
24,120 24,120

 

Dr. Sales Account Cr.
Date Particulars J.F Date Particulars J.F
2018
April 30
To Balance b/d 7,000 2018
April 4
By Cash a/c 7,000
7,000 7,000

 

Dr. Input IGST Account Cr.
Date Particulars J.F Date Particulars J.F
2018
April 10
To S a/c 1,080 2018
April 30
By Balance c/d 1,080
1,080 1,080

 

Dr. Output CGST Account Cr.
Date Particulars J.F Date Particulars J.F
2018
April 4
30
To R a/c
To Balance c/d
60
480
2018
April
4
30
By Cash a/c
By Cash a/c
420
120
540 540

 

Dr. Output SGST Account Cr.
Date Particulars J.F Date Particulars J.F
2018
April 4
30
To R a/c
To Balance c/d
60
480
2018
April
4
30
By Cash a/c
By Cash a/c
420
120
540 540

 

Trial Balance as

On April 30, 2018

Particulars L.F. Dr. (₹.) Cr. (₹.)
Cash
Capital
S
Stock
Debtors
Machinery
Sales Return
Drawings
Commission
Discount Received
Purchase
Sales
Input IGST
Output CGST
Output SGST
15,234
30,000
48,880
60,000
1,000
500
24,120
1,080
1,60,000
9,072
2,000
1,782
7,000
480
480
1,80,812 1,80,812

 

Question 4:

Journalise the following transactions in the books of Afzal and Co., Bangalore and post them to the ledger:

2018
Jan.1
Jan. 3
Jan. 5
Jan. 8
Jan. 10
Jan. 11
Jan. 13
Jan. 15
Jan. 16
Jan. 17
Jan. 18
Jan. 19
Jan. 22
Jan. 24
Jan. 25
Jan. 26
Jan. 27
Jan. 28
Jan. 29
Jan. 31
Started business with cash
Bought goods on credit from Gupta and Co., Mumbai
Cash sales
Cash purchases
Sold goods to Ahmed & co., Lucknow
Deposited Cash in bank
Purchased a computer for office
Took a loan from Mehboob
Goods returned by Ahmed and Co.
Purchased furniture from Mehfil Mart, Kolkata
Paid interest to Mehboob
Received claim from Ahmed and Co. for defects in goods supplied to them. Claim was accepted and rebate was allowed
Paid rent by cheque
Withdrew from the bank
Sales of goods at counter after allowing trade discount of 10%
Goods purchased from Gupta and Co. Delhi were destroyed by accident
Advertisement expenses paid through bank
Ahmed and Co. settled their account by cheque
Paid to Gupta and Co. by cheque
Discount allowed by them
Sold old newspapers
₹.
1,00,000
20,000
5,000
8,000
10,000
50,000
20,000
70,000
2,000
10,000
2,000
1,000
2,000
20,000
10,000
10,000
5,000
7,000
18,000
2,000
500

 

Intra – state transactions are subject to levy of CGST and SGST @ 6% each whereas inter – state transactions are levy of IGST @ 12%.

Solution:

Books of Afzal

Journal

Date Particulars L.F. Dr. (₹) Cr. (₹)
2018
1 Jan
Cash a/c Dr.
To Capital a/c
(Being commenced business with cash)
1,00,000
1,00,000
3 Jan
Purchase a/c Dr.
Input IGST a/c Dr.
To Gupta and Co. a/c
(Being purchased goods from Gupta and Co. on credit, paid IGST @ 12%)
20,000
2,400
22,400
January 5
Cash a/c Dr.
To Sales a/c
To Output CGST a/c
To Output SGST a/c
(Being sold goods on cash, paid CGST and SGST @ 6% each)
5,600 5,000
300
300
January 8
Purchase a/c Dr.
Input CGST a/c Dr.
Input SGST a/c Dr.
To Cash a/c
(Being bought goods on cash, paid CGST and SGST @ 6% each)
8,000
480
480
8,960
January 10
Ahmed and Co. a/c Dr.
To Sales a/c
To Output IGST a/c
(Being sales goods from Ahmed and Co. on credit, paid IGST @ 12%)
11,200 10,000
1,20
January 11 Bank a/c Dr.
To Cash a/c
(Being money deposited in bank)
50,000 50,000
January 13
Computers a/c Dr.
Input CGST a/c Dr.
Input SGST a/c Dr.
To Cash a/c
(Being bought computers on cash, paid CGST and SGST @ 6% each)
20,000
1,200
1,200
22,400
January 15 Cash a/c Dr.
To Loan from Mehboob a/c
(Being loan taken from Mehboob)
70,000 70,000
January 16
Sales Return a/c Dr.
Output IGST a/c Dr.
To Ahmed and Co. a/c
(Being goods returned by Ahmed and Co., paid IGST @ 12%)
2,000
240
2,240
17 January Furniture a/c Dr.
Input CGST a/c Dr.
Input SGST a/c Dr.
To Mehfil Mart a/c
(Being bought furniture from Mehfil Mart of cash)
10,000
600
600
11,200
18 January Interest on Mehboob loan a/c Dr.
To Cash a/c
(Being paid interest on loan)
2,000 2,000
19 Jan Insurance claim a/c Dr.
To Ahmed and Co. a/c
(Being due to insurance claim)
1,000 1,000
22 Jan
Rent a/c Dr.
Input CGST a/c Dr.
Input SGST a/c Dr.
To Bank a/c
(Being paid to rent, paid CGST and SGST @ 6% each)
2,000
120
120
2,240
24 Jan Cash a/c Dr.
To Bank a/c
(Being cash withdrawn from the bank)
20,000 20,000
25 Jan
Cash a/c Dr.
To Sales a/c
To Output CGST a/c
To Output SGST a/c
(Being sales on cash, paid CGST and SGST @ 6% each)
10,080 9,000
540
540
26 Jan Loss by Accident a/c Dr.
To Purchases a/c
To Input IGST a/c
(Being goods lost by accident, paid IGST @ 12%)
11,200 10,000
1,200
27 Jan
Advertisement a/c Dr.
Input CGST a/c Dr.
Input SGST a/c Dr.
To Bank a/c
(Being paid advertisement, paid CGST and SGST @ 6% each)
5,000
300
300
5,600
28 Jan Bank a/c Dr.
Discount allowed a/c Dr.
To Ahmed and Co. a/c
(Being received payment)
7,000
960
7,960
29 Jan Gupta and Co. a/c Dr.
To Bank a/c
To Discount Received a/c
(Being paid payment)
20,000 18,000
2,000
31 Jan
Cash a/c Dr.
To Sundry Income a/c
To Output CGST a/c
To Output SGST a/c
(Being received to sundry income, paid CGST and SGST @ 6% each)
560 500
30
30

 

Ledger
Dr. Cash Account Cr.
Date Particulars J.F Date Particulars J.F
2018
01 Jan
05 Jan
05 Jan
05 Jan
15 Jan
24 Jan
25 Jan
25 Jan
25 Jan
31 Jan
31 Jan
31 Jan
To Capital b/d
To Sales a/c
To Output CGST a/c
To Output SGST a/c
To Loan from Mehboob a/c
To Bank a/c
To Sales a/c
To Output CGST a/c
To Output SGST a/c
To Sundry Income a/c
To Output CGST a/c
To Output SGST a/c
1,00,000
5,000
300
300
70,000
20,000
9,000
540
540
500
30
30
2018
8 Jan
8 Jan
8 Jan
11 Jan
13 Jan
13 Jan
13 Jan
18 Jan
31 Jan
By Purchase a/c
By Input CGST a/c
By Input SGST a/c
By Bank a/c
By Computer a/c
By Input CGST a/c
By Input SGST a/c
By Interest on Mehboob loan a/c
By Balance c/d
8,000
480
480
50,000
20,000
1,200
1,200
2,000
1,22,880
2,06,240 2,04,500
February 1 To Balance b/d 1,22,880

 

Dr. Purchase Account Cr.
Date Particulars J.F Date Particulars J.F
2018
03 Jan
08 Jan
To Gupta and Co. a/c
To Cash a/c
20,000
8,000
2018
26 Jan
31 Jan
By Loss by Accident a/c
By Balance c/d
10,000
8,000
28,000 28,000
February 1 To Balance b/d 8,000

 

Dr. Capital Account Cr.
Date Particulars J.F Date Particulars J.F
2018
31 Jan
To Balance c/d 1,00,000 2018
01 Jan
By Cash a/c 1,00,000
1,00,000 1,00,000
01 Feb To Balance b/d 1,00,000

 

Dr. Sales Account Cr.
Date Particulars J.F Date Particulars J.F
2018
31 Jan
To Balance c/d 24,000 2018
05 Jan
10 Jan
25 Jan
By Cash a/c
By Ahmed and Co. a/c
By Cash a/c
5,000
10,000
9,000
24,000 24,000
01 Feb To Balance b/d 24,000

 

Dr. Gupta and Co. Account Cr.
Date Particulars J.F Date Particulars J.F
2018
29 Jan
29 Jan
31 Jan
To Bank a/c
To Discount Received a/c
By balance c/d
18,000
2,000
2,400
2018
03 Jan
03 Jan
By Purchase a/c
By Input IGST a/c
20,000
2,400
22,400 22,400
01 Feb To Balance c/d 2,400

 

Dr. Ahmed and Co. Account Cr.
Date Particulars J.F Date Particulars J.F
2018
10 Jan
10 Jan
To sales a/c
By Output IGST a/c
10,000
1,200
2018
16 Jan
16 Jan
19 Jan
28 Jan
28 Jan
By Sales Return a/c
By Output IGST a/c
By Insurance Claim a/c
By Bank a/c
By Discount Allowed a/c
2,000
240
1,000
7,000
960
11,200 11,200

 

Dr. Bank Account Cr.
Date Particulars J.F Date Particulars J.F
2018
11 Jan
28 Jan
To Cash a/c
To Ahmed and Co. a/c
50,000
7,000
2018
22 Jan
22 Jan
22 Jan
24 Jan
27 Jan
27 Jan
27 Jan
29 Jan
31 Jan
By Rent a/c
By Input CGST a/c
By Input SGST a/c
By Cash a/c
By Advertisement a/c
By Input CGST a/c
By Input SGST a/c
By Gupta and Co. a/c
By Balance c/d
2,000
120
120
20,000
5,000
300
300
18,000
11,160
57,000 57,000
February 1 To Balance b/d 11,160

 

Dr. Computers Account Cr.
Date Particulars J.F Date Particulars J.F
2018
13 Jan
To Cash a/c 20,000 2018
31 Jan
By Balance c/d 20,000
20,000 20,000
February 1 To balance b/d 20,000

 

Dr. Loan from Mehboob Account Cr.
Date Particulars J.F Date Particulars J.F
2018
31 Jan
To Balance c/d 70,000 2018
15 Jan
By Cash a/c 70,000
70,000 70,000
01 Feb By balance b/d 70,000

 

Dr. Insurance Claim Account Cr.
Date Particulars J.F Date Particulars J.F
2018
19 Jan
To Ahmed and Co. a/c 1,000 2018
31 Jan
By balance c/d 1,000
1,000 1,000
February 1 To balance b/d 1,000

 

Dr. Rent Account Cr.
Date Particulars J.F Date Particulars J.F
2018
22 Jan
To Bank a/c 2,000 2018
31 Jan
By balance c/d 2,000
2,000 2,000
February 1 To balance b/d 2,000

 

Dr. Loss by Accident Account Cr.
Date Particulars J.F Date Particulars J.F
2018
26 Jan
26 Jan
To Purchases a/c
To Input IGST a/c
10,000
1,200
2018
31 Jan
By balance c/d 11,200
11,200 11,200
February 1 To balance b/d 11,200

 

Dr. Advertisement Account Cr.
Date Particulars J.F Date Particulars J.F
2018
27 Jan
To Bank a/c 5,000 2018
31 Jan
By balance c/d 5,000
5,000 5,000
February 1 To balance b/d 5,000

 

Dr. Sales Returns Account Cr.
Date Particulars J.F Date Particulars J.F
2018
16 Jan
To Ahmed and Co. a/c 2,000 2018
31 Jan
By balance c/d 2,000
2,000 2,000
February 1 To balance b/d 2,000

 

Dr. Furniture Account Cr.
Date Particulars J.F Date Particulars J.F
2018
17 Jan
To Mehfil Mart a/c 10,000 2018
31 Jan
By balance c/d 10,000
10,000 10,000
February 1 To balance b/d 10,000

 

Dr. Mehfil Mart Account Cr.
Date Particulars J.F Date Particulars J.F
2018
31 Jan
To Balance c/d 11,200 2018
17 Jan
17 Jan
17 Jan
By Furniture a/c
By Input CGST a/c
By Input SGST a/c
10,000
600
600
11,200 11,200
01 Feb By balance b/d 11,200

 

Dr. Interest on Mehboob Loan Account Cr.
Date Particulars J.F Date Particulars J.F
2018
18 Jan
To Cash a/c 2,000 2018
31 Jan
By Balance c/d 2,000
2,000 2,000
February 1 To balance b/d 2,000

 

Dr. Discount Allowed Account Cr.
Date Particulars J.F Date Particulars J.F
2018
28 Jan
To Ahmed and Co. a/c 960 2018
31 Jan
By Balance c/d 960
960 960
February 1 To balance b/d 960

 

Dr. Discount Received Account Cr.
Date Particulars J.F Date Particulars J.F
2018
31 Jan
To balance b/d 2,000 2018
29 Jan
By Gupta and Co. a/c 2,000
2,000 2,000
01 Feb By Balance c/d 2,000

 

Dr. Sundry Income Account Cr.
Date Particulars J.F Date Particulars J.F
2018
31 Jan
To balance c/d 500 2018
31 Jan
By Cash a/c 500
500 500
01 Feb By Balance b/d 500

 

Dr. Input CGST Account Cr.
Date Particulars J.F Date Particulars J.F
2018
08 Jan
13 Jan
17 Jan
22 Jan
27 Jan
To Cash a/c
To Cash a/c
To Mehfil Mart a/c
To Bank a/c
To Bank a/c
480
1,200
600
120
300
2018
31 Jan
By Balance c/d 2,700
2,700 2,700

 

Dr. Input SGST Account Cr.
Date Particulars J.F Date Particulars J.F
2018
08 Jan
13 Jan
17 Jan
22 Jan
27 Jan
To Cash a/c
To Cash a/c
To Mehfil Mart a/c
To Bank a/c
To Bank a/c
480
1,200
600
120
300
2018
31 Jan
By Balance c/d 2,700
2,700 2,700

 

Dr. Output CGST Account Cr.
Date Particulars J.F Date Particulars J.F
2018
31 Jan
To Balance c/d 870 2018
5 Jan
25 Jan
31 Jan
By Cash a/c
By Cash a/c
By Cash a/c
300
540
30
870 870

 

Dr. Output SGST Account Cr.
Date Particulars J.F Date Particulars J.F
2018
31 Jan
To Balance c/d 870 2018
5 Jan
25 Jan
31 Jan
By Cash a/c
By Cash a/c
By Cash a/c
300
540
30
870 870

 

Dr. Input IGST Account Cr.
Date Particulars J.F Date Particulars J.F
2018
3 Jan
To Gupta and Co. a/c 2,400 2018
26 Jan
31 Jan
By Loss by Accident a/c
By Balance c/d
1,200
1,200
2,400 2,400

 

Dr. Output IGST Account Cr.
Date Particulars J.F Date Particulars J.F
2018
16 Jan
31 Jan
To Ahmed and Co. a/c
To balance c/d
240
960
2018
10 Jan
By Ahmed and Co. a/c 1,200
1,200 1,200

 

Question 5:

On 1st of April 2018, X began business with a capital of ₹. 50,000/-. He made the following transactions:

2018
April 3
April 4
April 6
April 8
April 12
April 18
April 25
April 30
Purchased goods from R on credit for
Cash paid to R
Goods sold to S
Received cash from S
Goods purchased from R
Cash paid to R
Goods sold to S
Received cash from S

20,000
10,000
25,000
20,000
12,000
20,000
10,000
6,000

 

Pass the necessary Journal entries.

Solution:

Journal

Date Particulars L.F. Dr. (₹) Cr. (₹)
2018
April 1
Cash a/c Dr.
To Capital a/c
(Being commenced business with cash)
50,000 50,000
April 3 Purchase a/c Dr.
To R a/c
(Being goods purchased on credit)
20,000 20,000
April 4 R a/c Dr.
To Cash a/c
(Being paid to Rita)
10,000 10,000
April 6 S a/c Dr.
To Sales a/c
(Being goods sold to S on credit)
25,000 25,000
April 8 Cash a/c Dr.
To S a/c
(Being cash received from S)
20,000 20,000
April 12 Purchase a/c Dr.
To R a/c
(Being goods purchased on credit)
12,000 12,000
April 18 R a/c Dr.
To Cash a/c
(Being cash paid to R)
20,000 20,000
April 25 S a/c Dr.
To sales a/c
(Being goods sold to S)
10,000 10,000
April 30 Cash a/c Dr.
To S a/c
(Being cash received from S)
6,000 6,000

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