Question No 12 Chapter No 10 - T.S. Grewal 11 Class

Question No 12 Chapter No 10

Enter the following transactions in the two-column cash book of Reena, Chandigarh and find out cash and bank balances;

2018		Rs
Apr-01	Cash Balance Rs 2,000, bank balance Rs 24,500
Apr-02	Cash sales Rs 60,000 plus CGST and SGST @6% each
Apr-05	Deposited in Bank	50,000
Apr-07	Issued cheque to Sohan	10,000
Apr-09	Sold goods for cash Rs 10,000 plus CGST and SGST @6% each
Apr-12	Received a cheque from National Insurance Co. Ltd. against claim lodged last year	19,800
Apr-14	Sold goods to Niraj of Rs 25,000 plus CGST and SGST @6% each, received cash Rs 10,000 and balance by cheque. Allowed him to discount Rs 500
Apr-16	Purchased furniture for Rs 10,000 plus CGST and SGST @6% each paid for furniture by cheque
Apr-18	Sold old furniture for 10,000 plus CGST and SGST @6%  each and received cash
Apr-20	Paid into bank cheque of Niraj and cash	2,500
Apr-22	Paid to Suman by cheque	2,500
Apr-26	Suman’s cheque returned on technical ground and paid cash for an equal amount
Apr-28	The bank charged its commission of Rs300 plus CGST and SGST @6% each
Apr-29	Bank paid insurance premium as per Standing instruction	2,500
Apr-30	Nigam paid into bank directly, intimation received on the same date	5,000

The solution of Question No 12 Chapter No 10: - 

In the Books of Reena, Chandigarh

Dr.	Cash Book								Cr.
Date	Particulars	L.F.	Cash	Bank	Date	Particulars	L.F.	Cash	Bank
Apr. 2018					Apr. 2018
1	To Balance B/d		2,000	24,500	5	By Bank A/c		50,000
2	To Sale A/c		60,000		9	By Sohan A/c			10,000
2	To Output CGST A/c		3,600		16	To Furniture A/c			10,000
2	To Output SGST A/c		3,600		16	By Input CGST A/c			600
5	To Cash A/c			50,000	16	By Input SGST A/c			600
9	To Sales A/c		10,000		20	By Bank A/c		2,500
9	To Output CGST A/c		600		22	By Suman A/c			2,500
9	To Output SGST A/c		600		26	By Suman A/c	C	2,500
12	To National Insurance. Co, A/c			19,800	28	By Commission A/c			300
14	To Niraj A/c		10,000		28	By Input CGST A/c			18
14	To Output CGST A/c			1,500	28	By INput SGST A/c	C		18
14	To Output SGST A/c			1,500	29	Insurance premium A/c			2,500
18	To Old furniture A/c		10,000
18	To Output CGST A/c		600
18	To Output SGST A/c		600
20	To Cash A/c			2,500
20	To Cheque in hand A/c			14,500
26	To Suman A/c			2,500
30	To Nigam A/c			5,000
					31	By Balance C/d		46,600	95,264
			1,01,600	1,21,800				1,01,600	1,21,800

All transactions which are highlighted with (*) are explained as following as follows: -

*Apr.5 Cash received from the sale of shares

Share is our assets which is named as Investment, So that’s why we had used the account Investment while posting the transaction into cash book.

*Par.6 Cheque Received as an advance against the sale, paid into the bank

Cheque received as an advance against sale but the name of the person or firm is not given. So, that’s why we have the account of Advance from the customer while posting the transaction into the cash book.

But in real-world, nothing will happen with you like this, Because the name of the customer will be written on the cheque.

*Apr.30 Sold goods in cash Rs 8,000 plus CGST and SGST @6% each and banked the same

The calculation of Amount of CGST and SGST @ 6% each
8,000 * 6% = 480/- each

*Oct. 27 Sold goods for Rs 11,000 Plus CGST and SGST @6% against Cash

The calculation of Amount of CGST and SGST @ 6% each
11,000 * 6% = 660/- each

*Oct. 28 Received a cheque for goods sold for Rs 9,000 plus CGST and SGST @6% each

The calculation of Amount of CGST and SGST @ 6% each
9,000 * 6% = 540/- each

To understand more about cash book please check out following links: -

https://tutorstips.com/cash-book/

https://tutorstips.com/single-column-cash-book/

https://tutorstips.com/double-column-cash-book/

https://tutorstips.com/triple-column-cash-book/

https://tutorstips.com/petty-cash-book/

Thanks Please share with your friends  

Comment if you have any question.

Also, Check out previous Chapters: -

• Chapter No. 5 - Accounting Equation
• Chapter No. 6 - Accounting Procedures - Rules of Debit and Credit
• Goods and Services Tax(GST)
• Chapter No. 8 - Journal
• Chapter No. 9 - Ledger

 

Check out T.S. Grewal +1 Book 2019 @ Oficial Website of Sultan Chand Publication