TS Grewal Solutions for Class 11 Accountancy Chapter 8

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TS Grewal Solutions for Class 11 Accountancy Chapter 8 – Special Purpose Books 2 Cash Book

Question 1

Give the journal entries for the following transaction. (Transfer Entries)

(i) From trading account to Profit and Loss Account, ₹32,000 gross profit.

(ii) Net Profit of ₹14,500 to Shalini’s capital account

(iii) Shalini withdrew ₹10,000 from her capital account

(iv) Purchases return of ₹ 7,000 plus IGST @12%

(v) Return sales of ₹6,000 plus SGST and CGST @6% each

Solution 1

Dr. Journal Cr.
Sr.No. Particulars L.F Debit (₹) Credit (₹)
(i) Trading A/c Dr.
To Profit and Loss A/c
(Being transfer ofgross profit to Profit and Loss Account)
32,000 32,000
(ii) Profit and Loss A/c Dr.
To Shalini’s capital A/c
(Being transfer of net profit to capital account)
14,500 14,500
(iii) Shalini’s capital A/c Dr.
To Drawing A/c
(Being withdrawal from the capital account)
10,000 10,000
(iv) Cash A/c Dr.
To Purchase Return A/c
To Input IGST A/c
(Being purchased good return)
7,840 7,000,840
(v) Sales Return A/c Dr.
Output CGST Dr.
Output AGST Dr.
To cash A/c
(Being goods sold return)
6,000
360
360
6,720

Question 2:

Record the adjustment entries in the journal for the ending year 31st Match 2018.

(i) Interest accumulated ₹2,500

(ii) Outstanding wages ₹10,000 for March 2018

(iii) Prepaid Insurance ₹ 1,500

(iv) Manager commission due @ ₹ 6% on net profit. Before charging such commission the profit was 1,06,000

(v) Pending interest on a loan. 9 months before the end of the year, the loan of ₹1,50,000 was taken @ 9% p.a.

Solution 2

Dr. Journal Cr.
Sr. No. Particulars L.F Debit
Rs.
Credit
Rs.
(i) Accumulated Interest A/c Dr.
To Interest A/c
(Being Interest accumulated)
2,500 2,500
(ii) Wages A/c Dr.
To Wages Outstanding A/c
(Being wages outstanding for March 2018)
10,000 10,000
(iii) Prepaid Insurance A/c Dr.
To Insurance A/c
(Being prepaid insurance)
1,500 1,500
(iv) Manager’s commission A/c Dr.
To Manager’s commission payable A/c
(Being commission due to the manager)
6,000 6,000
(v) Interest on Loan A/c Dr.
To Outstanding interest on Loan A/c
(Being interest on loan due)
10,125 10,125

Question 3

(Closing Entries). Record the transaction of Mr. Raghu on 31st March 2018 in a journal and close their books. Premises freehold ₹30,000, Machinery and Plant ₹20,000, Sundry Debtors ₹25,000, Purchases ₹37,500, Sales ₹95,000, Discount (Dr.) ₹150, Discount (Cr.) ₹175, Creditor Sundry ₹12,500, Inward Carriage ₹375, Outward Carriage ₹600, Fixtures and Furniture ₹2,500, wages ₹5,000, Bad debts ₹750, Salaries ₹3,600, Commission (Cr) ₹2,125, Capital Account ₹25,000, Payable Bills ₹7,500, Receivable Bill ₹9,000, Expenses Trade ₹2,550, Radha’s Loan Account ₹20,000, Cash in Hand ₹75, Cash in Bank ₹3,125.

Solution 3

Dr. Journal Cr.
Sr.No. Particulars L.F Debit (₹) Credit (₹)
(i) Trading A/c Dr.
To Purchase A/c
To Carriage Inward A/c
To Wages A/c
(Being direct expenses debited to Trading A/c)
42,875 37,500375
5,000
(ii) Sales A/c Dr.
To Trading A/c
(Being sales credited to Trading A/c)
95,000 95,000
(iii) Trading A/c Dr.
To Profit & Loss A/c
(Being transfer of gross profit to profit & Loss account)
52,125 52,125
(iv) Profit & Loss A/c Dr.
To Discount A/c
To Carriage outward A/c
To Bad Debts
To Salaries A/c
To Trade Expenses A/c
(Being Indirect expenses debited to Profit & Loss A/c)
7,650 150600
750
3,600
2,550
(v) Discount A/c Dr.
Commission A/c Dr.
To Profit & Loss A/c
(Being Indirect income credited to Profit & Loss A/c)
175
2,125
2,300
(vi) Profit & Loss A/c Dr.
To Capital A/c
(Being transfer of net profit to capital A/c)
46,775 46,775

Question 4

Arrange Sales Return Book of Ram stores from the below-mentioned transaction and record them in Ledger.

2018
Feb 10
Feb 20
Ram stores returned Two television sold @20,000 each plus SGST & CSGT @ 9% each..
Sonam & Co. returned three microwaves sold @ 10,000 each plus IGST @18%

Solution 4

Sales Return Book
Date Particulars Credit Note No. L.F Details Value Output
CGST
Output
SGST
Output
IGST
Total
Feb 10 Rama Stores
2 TV @ ₹20,000 each
Add CGST @ 9%
Add SGST @ 9%
40,000
3,600
3,600
47,200 40,000 3,600 3,600 47,200
Feb 20
Sonam & Co. 3 microwaves @ ₹10,000 each
Add IGST @ 18%
30,000
5,400
35,400 30,000 5,400 5,400
70,000 3,600 3,600 5,400 82,600

Question 5

Arrange Purchase Return Book of Kamala stores for July 2017 from the below-mentioned transaction.

2018
June 6
June 8
June 17
Goods returned to Ram brothers, purchased for ₹5,000 plus SGST & CGST @ 6% each
Goods returned to Soham brothers, purchased for ₹10,000 plus IGST @ 12% each
Goods returned to Mohan brothers, purchased for ₹2,000 plus SGST & CGST @ 6% each

Solution 5

Purchase Return Book
Date Particulars Credit
Note No.
L.F Details Cost Output
CGST
Output
SGST
Output
IGST
Total
Jun 6
Ram Brothers
Add CGST @ 6%
Add SGST @ 6%
5,000
300
300
5,600 5,000 300 300 5,600
Jun 8 Soham Brothers
Add IGST @ 12 %
10,000
1,200
11,200 10,000 1,200 1,200
June 17 Mohan
Brothers
Add CGST @ 6%
Add SGST @ 6%
2,000
120
120
2,240 2,000 120 120 2,240
17,000 420 420 1,200 19,040

Question 6:

Prepare purchase return book of Anu stores from the below-mentioned transaction.

2018
Jan 10
Jan 25
Sonam stores returned 10 fans 36” @1,250 each plus SGST & CSGT @ 6% each.Trade discount 10%
Raj & Co. returned 25 bulbs @ 200 each plus IGST paid @12%

Solution 6

In books of Anu Stores
Purchase Return Book
Date Name of Supplier (Account to be debited) Debit
Note No.
L.F Detail
2018
Jan 10
Sonam Stores
10 fans 36” @1,250 each
10% Trade discount
12,500
1,250
11,250
Add CGST @ 6%
Add SGST @ 6%
675
675
12,600
Jan 25 Raj & Co.
25 bulbs @ 200 each
IGST paid @12%
5,000
600
5,600
January 31 Purchase Return Account Cr. 18,200

Question 7

Prepare Purchase book for Das Bros., Kolkata cloth dealer for January 2018.

2018
April 3
April 8
April 15
April 20
Gupta Mills purchased goods on credit
Long cloths 100 pieces @ 800 each
Shirt 50 pieces @ 500 each
SGST & CGST payable @ 6% each
Amu Mills purchased goods for cash
Muslin 50 pieces @ 1,000 each
IGST payable @ 12%
Sam Mills purchased goods on credit
Coating 20 pieces @ 2,000 each
Shirt 10 pieces @ 500 each
IGST payable @ 12%
Bharati Typewriter Ltd. purchased on credit
Typewriters 5 pieces @ 1,400 each
SGST & CGST payable @ 6% each

Solution 7

Das Bros., Kolkata
Purchase Book
Date Name of Supplier (Account to be debited) Debit
Note No.
L.F Detail
2018
Jan 03
Gupta Mills
Long cloths 100 pieces @ 800 each
Shirt 50 pieces @ 500 each
80,000
25,000
Add Input CGST @ 6%
Add Input SGST @ 6%
1,05,000
6,300
6,300
1,17,000
Jan 15
Sam Mills
Coating 20 pieces @ 2,000 each
Shirt 10 pieces @ 500 each
40,000
5,000
Add Input IGST @ 12% 45,000
5,400
50,400
Jan 30 Purchase A/c Dr. 1,68,000

Note:

a) Purchase made by cash on Jan 8th will be recorded on the cash book because it is a cash transaction, not credit.

b) Typewriter purchased on Jan 20th will not be recorded on purchase book because it is not a product that the company trade. Instead, it is an asset for the company.

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