Question 7 Chapter 6 – Unimax Publications of Class 11

Question 7 Chapter 6 – Unimax Publications of Class 11

7. Journalise the following transactions, post them into ledger and make the balancing of ledger accounts:
2023
Jan. 1 Yogesh started business with cash Rs. 77,000
Jan. 5 Purchased Machine for Rs. 60,000
Jan. 16 Purchased goods on credit from Saif Rs. 66,000
Jan. 20 Rent paid in cash Rs. 5,500
Jan. 27 Goods sold for Cash Rs. 48,900.

The solution of Question 7 Chapter 6 – Unimax Publications of Class 11:

JOURNAL

Date	Particulars		L.F.	Debit	Credit
2023
Jan 1	Cash A/C	Dr.		77,000
	To Capital A/C				77,000
	(Being Yogesh commenced business with cash)
Jan. 5	Machine A/c	Dr.		60,000
	To Cash A/C				60,000
	(Being purchased machine for cash)
Jan. 16	Purchase A/C	Dr.		66,000
	To Saif A/C				66,000
	(Being purchased goods on credit from Saif)
Jan. 20	Rent A/C	Dr.		5,500
	To Cash A/C				5,500
	(Being rent paid in cash)
Jan. 27	Cash A/C	Dr.		48,900
	To Sales A/C				48,900
	(Being goods sold)

LEDGER :

CASH ACCOUNT

Date	Particulars	Amount	Date	Particulars	Amount
2023			2023
Jan 1	To Capital A/c	77,000	Jan 5	By Machine A/c	60,000
Jan. 27	To Sales A/c	48,900	Jan. 20	By Rent A/c	5,500
			Jan. 27	By Balance c/d	60,400
		1,25,900			1,25,900
Feb 1	To Balance b/d	60,400

CAPITAL ACCOUNT

Date	Particulars	Amount	Date	Particulars	Amount
2023			2023
Jan 31	To balance c/d	77,000	Jan 1	By Cash A/c	77,000
		77,000			77,000
			Feb 1	By Balance b/d	77,000

MACHINE ACCOUNT

Date	Particulars	Amount	Date	Particulars	Amount
2023			2023
Jan 5	To Cash A/c	60,000	Jan 31	By Balance c/d	60,000
		60,000			60,000
Feb 1	To Balance b/d	60,000

PURCHASE ACCOUNT

Date	Particulars	Amount	Date	Particulars	Amount
2023			2023
Jan 16	To Saif A/c	66,000	Jan 31	By Balance c/d	66,000
		66,000			66,000
Feb 1	To Balance b/d	66,000

SAIF ACCOUNT

Date	Particulars	Amount	Date	Particulars	Amount
2023			2023
Jan 31	To balance c/d	66,000	Jan 16	By Purchase A/c	66,000
		66,000			66,000
			Feb 1	By Balance b/d	66,000

RENT ACCOUNT

Date	Particulars	Amount	Date	Particulars	Amount
2023			2023
Jan 20	To Cash A/c	5,500	Jan 31	By Balance c/d	5,500
		5,500			5,500
Feb 1	To Balance b/d	5,500

SALES ACCOUNT

Date	Particulars	Amount	Date	Particulars	Amount
2023			2023
Jan 31	To balance c/d	48,900	Jan 27	By Cash A/c	48,900
		48,900			48,900
			Feb 1	By Balance b/d	48,900