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Problem No 1 Chapter No 9 - Unimax Class 11

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Problem No 1 Chapter No 9 - Unimax Class 11

1. Record the following transactions in the journal of the Delhi furniture mart. Post them into the Ledger account and draft a trial balance.

2020
Jan.1	Started business with cash ₹ 40,000
Jan.2	Deposited into Bank ₹ 19,000
Jan.3	Purchased machinery for ₹ 15,000 from Jawahar and him a cheque for the amount
Jan.15	Paid installation charges of machinery ₹ 1,100
Jan.20	Purchased timber from Naveen of the list price of ₹ 2,000. He allowed 10% trade discount.
Jan.23	Furniture costing ₹ 500 was used in furnishing the office.
Jan.25	Sold furniture to Naresh of the list price of ₹ 1,000 and allowed him 5 % trade discount
Jan.28	Received a cheque from Naresh for ₹ 930 in full settlement and sent the cheque to the bank.
Jan.29	Sent to Naveen in full settlement a cheque for ₹ 1,750.
Jan.31	Paid wages ₹ 350 and rent ₹ 200.

The solution of Problem No 1 Chapter No 9 - Unimax Class 11

Date	Particulars		Debit	Credit
	Journal A/c
2020
Jan.1	Cash A/c	Dr.	40,000
	To Capital A/c			40,000
	(Being started business with cash)
Jan.2	Bank A/c	Dr.	19,000
	To Cash A/c			19,000
	(Being cash deposited into the bank)
Jan.3	Machinery A/c	Dr.	15,000
	To Bank A/c			15,000
	(Being purchases machinery by cheque)
Jan.15	Machinery A/c	Dr.	1,100
	To Cash A/c			1,100
	(Being paid installation charges of machinery)
Jan.20	Purchases A/c	Dr.	1,800
	To Naveen’s A/c			1,800
	(Being timber purchased on credit)
Jan.23	Furniture A/c	Dr.	500
	To Purchases A/c			500
	(Being furniture used in furnishing the office)
Jan.25	Naresh’s A/c	Dr.	950
	To Sales A/c			950
	(Being good sold to Naresh)
Jan.28	Bank A/c	Dr.	930
	Discount A/c	Dr.	20
	To Naresh’s A/c			950
	(Being received from Naresh in full settlement of his account)
Jan.29	Naveen’s A/c	Dr.	1,800
	To Bank A/c			1,750
	To Discount A/c			50
	(Being cash paid to Naveen in full settlement of his account)
Jan.31	Wages A/c	Dr.	350
	Rent A/c	Dr.	200
	To Cash A/c			550
	(Being wages and rent paid)

Date	Particulars	Amount	Date	Particulars	Amount
	Ledger
Dr.	Cash A/c				Cr.
Jan.1	To Capital A/c	40000	Jan.2	By Bank A/c	19000
				By Machinery A/c	1100
				By wages A/c	350
				By Rent A/c	200
				By Balance c/d	19350

		40000			40000
Feb.1	To Balance b/d	19350

Date	Particulars	Amount	Date	Particulars	Amount
Dr.	Capital A/c				Cr.
Jan.31	To Balance c/d	40000	Jan.1	By Cash A/c	40000
		40000			40000
				By Balance b/d	40000

Date	Particulars	Amount	Date	Particulars	Amount
Dr.	Bank A/c				Cr.
Jan.2	To Cash A/c	19000	Jan.3	By Machinery A/c	15,000
Jan.28	To Naresh’s A/c	930	Jan.29	By Naveen A/c	1750
			Jan.31	By Balance c/d	3180
		19930			19930
Feb.1	To Balance b/d	3180

Date	Particulars	Amount	Date	Particulars	Amount
Dr.	Machinery A/c				Cr.
Jan.3	To Machinery A/c	15000	Jan.31	By Balance c/d	16100
Jan.15	To Cash A/c	1100
		16100			16100
Feb.1	To balanceb/d	16100

Date	Particulars	Amount	Date	Particulars	Amount
Dr.	Naveen's A/c				Cr.
Jan.29	To Bank A/c	1750	Jan.20	By Purchases A/c	1800
Jan.28	To Discount received A/c	50
		1800			1800

Problem No 1 Chapter No 9 - Unimax Class 11

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The solution of Problem No 1 Chapter No 9 - Unimax Class 11

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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Date	Particulars	Amount	Date	Particulars	Amount
Dr.	Furniture & Fixtures A/c				Cr.
Jan.23	To Purchases A/c	500	Jan.31	By Balance c/d	500

		500			500
Feb.1	To Balance b/d	500

Date	Particulars	Amount	Date	Particulars	Amount
Dr.	Purchases A/c				Cr.
Jan.20	To Naveen’s A/c	1800	Jan.23	By Furniture A/c	500
			Jan.31	By Balance c/d	1300
		1800			1800
Feb.1	To Balance b/d	1300

Date	Particulars	Amount	Date	Particulars	Amount
Dr.	Naresh’s A/c				Cr.
Jan.25	To Sales A/c	950	Jan.28	By Bank A/c	930
			Jan.28	By Discount allowed A/C	20
		950			950

Date	Particulars	Amount	Date	Particulars	Amount
Dr.	Sales A/c				Cr.
Jan.31	To Balance c/d	950	Jan.25	By Naresh’s A/c	950
		950			950
			Feb.1	By Balance b/d	950

Date	Particulars	Amount	Date	Particulars	Amount
Dr.	Discount Allowed A/c				Cr.
Jan.28	To Naresh’s A/c	20	Jan.31	By Balance c/d	20
		20			20
Feb.1	To Balance b/d	20

Date	Particulars	Amount	Date	Particulars	Amount
Dr.	Discount Received A/c				Cr.
Jan.31	To Balance c/d	50	Jan.29	By Naveen’s A/c	50
		50			50
			Feb.1	By Balance b/d	50

Date	Particulars	Amount	Date	Particulars	Amount
Dr.	Wages A/c				Cr.
Jan.31	To Cash A/c	350	Jan.31	By Balance c/d	350
		350			350
Feb.1	To Balance b/d	350

Date	Particulars	Amount	Date	Particulars	Amount
Dr.	Rent A/c				Cr.
Jan.31	To Cash A/c	200	Jan.31	By Balance c/d	200
		200			200
Feb.1	To Balance b/d	200

S. No.	Name of A/c	Debit	Credit
1	Cash A/c	19,350
2	Capital A/c		40,000
3	Bank A/c	3,180
4	Machinery A/c	16,100
5	Furniture A/c	500
6	Purchases A/c	1,300
7	Sales A/c		950
8	Discount allowed A/c	20
9	Discount received A/c		50
10	Wages A/c	350
11	Rent A/c	200
	Total	41,000	41,000