Question No 05 Chapter No 7 - USHA Publication 11 Class

Question No 05 Chapter No 7

05. Record the following transaction in the journal of Pratistha, post them into ledger and balance:

2019
Feb.1	Received Rs 20,000on account of sale of goods Rs 25,000 from Sulekha Rs 5,000 as interest
Feb. 14	Paid Rs 25,000 to Parvesh on account of goods purchased last year, Rs 2,000 p.m. as rent to the landlord for 9 months and interest on loan @6% p.a. on Rs 1,00,000 for 8 months
Feb. 27	Cash is withdrawn from bank Rs 22,800, additional capital introduced Rs 12,200 and borrowed Rs 30,000 from Sugandha

The solution of Question No 05 Chapter No 7: -

Date	Particulars		L.F.	Debit	Credit
2018
Feb.1	CashA/c	Dr.		50,000
	To Sale A/c				20,000
	To Sulekha A/c				25,000
	To Interest A/c				5,000
	(Being goods sold for cash and received from Sulekha and interest)
Feb.14	Parvesh A/c	Dr.		25,000
	Rent A/c	Dr.		18,000
	Interest on loan A/c	Dr.		4,000
	To Cash A/c				47,000
	(Being cash paid to Parvesh, for rent and interest on the loan)
Feb.27	Cash A/c	Dr.		65,000
	To Bank A/c				22,800
	To Capital A/c				12,200
	To Sugandha’s Loan A/c				30,000
	(Being cash received from bank, proprietor and Sugandha’s loan)

 

Dr.	Cash A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Feb. 1	To Sale A/c		20,000	Feb. 14	By Parvesh A/c		25,000
Feb. 1	To Sulekha A/c		25,000	Feb. 14	By Rent A/c		18,000
Feb. 1	To Interest A/c		5,000	Feb. 14	By Interest on loan A/c		4,000
Feb. 27	To Bank A/c		22,800
Feb. 27	To Capital A/c		12,200
Feb. 27	To Sugandha's loan A/c		30,000
				Feb. 28	By Balance c/d		68,000
			1,15,000				1,15,000

 

Dr.	Sale A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
				Feb. 1	By Cash A/c		20,000
Feb. 28	To Balance C/d		20,000
			20,000				20,000

 

Dr.	Sulekha A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Feb. 28	To Balance C/d		25,000	Feb. 1	By Cash A/c		25,000
			25,000				25,000

 

Dr.	Interest A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Feb. 28	To Balance C/d		5,000	Feb. 1	By Cash A/c		5,000
			5,000				5,000

 

Dr.	Parvesh A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Feb. 14	To Cash A/c		25,000
				Feb. 28	By Balance c/d		25,000
			25,000				25,000

 

Dr.	Rent A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Feb. 14	To Cash A/c		18,000
				Feb. 28	By Balance c/d		18,000
			18,000				18,000

 

Dr.	Interest on loan A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Feb. 14	To Cash A/c		4,000
				Feb. 14	By Balance C/d		4,000
			4,000				4,000

 

Dr.	Bank A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Feb. 28	To Balance C/d		22,800	Feb. 27	By Cash A/c		22,800
			22,800				22,800

 

Dr.	Capital A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Feb. 28	To Balance C/d		12,200	Feb. 27	By Cash A/c		12,200
			12,200				12,200

 

Dr.	Sugandha’s Loan A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Feb. 28	To Balance C/d		30,000	Feb. 1	By Cash A/c		30,000
			30,000				30,000

 

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Usha Publication - Elements of Book-Keeping PSEB (Class 11) - Solution

Chapter No. 1 - Introduction

Chapter No. 2 - Theory Base of Accounting 

Chapter No. 3 - Origin of Transactions

Chapter No. 4 - Vouchers and transactions

Chapter No. 5 - Journal

Chapter No. 6 - Accounting for Goods and Services Tax(GST)

Chapter No. 7 - Ledger

Chapter No. 8 - Cash Book

Chapter No. 9 - Other Subsidiary Books

Chapter No. 10 - Journal Proper

Chapter No. 11 - Trial Balance

Chapter No. 12 - Bank Reconciliation Statement

Chapter No. 13 - Depreciation

Chapter No. 14 - Provisions and Reserves 

Chapter No. 15 - Bills of Exchange

Chapter No. 16 - Rectification of Errors 

Chapter No. 17 - Financial Statements - (Without Adjustments)

Chapter No. 18 - Financial Statements - (With Adjustments)