Question 48 Chapter 4 – Unimax Publications of Class 11

Question 48 Chapter 4 – Unimax Publications of Class 11

48. Journalise the following transactions in the books of Mahesh.
2021
Dec.1 Mahesh invested Rs. 2,50,000 in business of general store
Dec. 3 Paid into current account Rs. 1,10,000
Dec. 5 Purchased goods for Rs. 50,000 and paid Rs. 2,000 for carriage on these goods.
Dec. 6 Purchased goods for Rs. 75,000 from Ramesh and paid Rs. 1,400 for carriage on these goods.
Dec.10 Purchased machinery for Rs. 12,000 and spent Rs. 200 for its carriage.
Dec. 11 Received an order of goods for Rs. 1,40,000 from Madhav
Dec. 14 Payment made to Ramesh by cheque after getting 10% discount for prompt payment
Dec. 20 Additional cash introduced by proprietor Rs. 40,000
Dec. 16 Madhav’s order was executed and cartage Rs. 400 was paid in this connection
Dec. 24 Purchased goods from Rohan for Rs. 30,000 and the payment was made by cheque

The solution of Question 48 Chapter 4 – Unimax Publications of Class 11:

JOURNAL OF MAHESHI

Date	Particulars		L.F.	Debit	Credit
2021
Dec. 1	Cash A/c	Dr.		2,50,000
	To Capital A/c				2,50,000
	(Being cash introduced as capital and business started)
Dec. 3	Bank A/c	Dr.		1,10,000
	To Cash A/c				1,10,000
	(Being cash paid into bank)
Dec. 5	Purchases A/c	Dr.		50,000
	Carriage A/c			2,000
	To Cash A/c				52,000
	(Being goods purchased and carriage paid for cash)
Dec. 6	Purchases A/c	Dr.		75,000
	To Ramesh’s A/c				75,000
	(Being goods purchased from Ramesh)
Dec. 6	Carriage A/c	Dr.		1,400
	To Cash A/c				1,400
	(Being carriage paid on goods purchased from Ramesh)
Dec. 10	Sales Returns A/c	Dr.		12,200
	To Cash A/c				12,200
	(Being machinery purchased and carriage paid)
Dec. 14	Machinery A/c	Dr.		75,000
	To Cash A/c				67,500
	To Discount A/c				7,500
	(Being payment made to Ramesh and discount received)
Dec. 16	Madhav A/c	Dr.		1,40,000
	To Sales A/c				1,40,000
	(Being goods sold to Madhav)
Dec. 16	Carriage outwards A/c	Dr.		400
	To Cash A/c				400
	(Being cartage paid in connection with goods sold)
Dec. 20	Cash A/c	Dr.		40,000
	To Capital A/c				40,000
	(Being further cash introduced by proprietor)
Dec. 24	Purchases A/c	Dr.		30,000
	To Bank A/c				30,000
	(Being goods purchased and payment made by cheque)