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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
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Enter the following transactions in the Journal of Suresh, Delhi (ready-made garments):
| 2025 | Transaction | Rs. |
|---|---|---|
| April 1 | Suresh paid into bank as Capital | 60,000 |
| April 2 | He bought goods and paid by cheque | 24,000 |
| April 3 | Sold goods to Mukand & Co., Delhi on credit | 6,700 |
| April 4 | Sold goods for cash | 10,900 |
| April 5 | Paid sundry expenses in cash | 3,000 |
| April 8 | Paid for office furniture and fittings by cheque | 4,000 |
| April 9 | Bought goods from Ramesh & Bros. on credit | 10,600 |
| April 11 | Returned goods to Ramesh & Bros. | 1,500 |
| April 12 | Issued cheque to Ramesh & Bros. in full settlement (discount received ₹600) | 8,500 |
| April 12 | Goods costing ₹5,000 destroyed by fire | 5,000 |
| April 20 | Insurance Company paid claim | 4,000 |
| April 30 | Bank charged interest | 200 |
| April 30 | Borrowed from Ridhi @ 10% per annum | 50,000 |
| April 30 | Received from Mukand & Co. on account | 3,000 |
| April 30 | Sold household furniture and paid amount into business | 10,000 |
| April 30 | Sold goods costing ₹5,000 to Anita for cash at 20% profit on cost less 20% TD | 4,800 |
| April 30 | Sold goods costing ₹20,000 to Sunil at 20% profit on cost less 20% TD; cartage ₹150 charged to customer | 19,350 |
| Date | Particulars | L.F. | Dr. (₹) | Cr. (₹) |
|---|---|---|---|---|
| Apr 01 | Bank A/c Dr. To Capital A/c (Being Suresh paid into bank as capital) | 60,000 | 60,000 | |
| Apr 02 | Purchases A/c Dr. To Bank A/c (Being goods bought and paid by cheque) | 24,000 | 24,000 | |
| Apr 03 | Mukand & Co. A/c Dr. To Sales A/c (Being goods sold to Mukand & Co. on credit) | 6,700 | 6,700 | |
| Apr 04 | Cash A/c Dr. To Sales A/c (Being goods sold for cash) | 10,900 | 10,900 | |
| Apr 05 | Sundry Expenses A/c Dr. To Cash A/c (Being sundry expenses paid in cash) | 3,000 | 3,000 | |
| Apr 08 | Furniture A/c Dr. To Bank A/c (Being office furniture purchased by cheque) | 4,000 | 4,000 | |
| Apr 09 | Purchases A/c Dr. To Ramesh & Bros.' A/c (Being goods purchased from Ramesh & Bros. on credit) | 10,600 | 10,600 | |
| Apr 11 | Ramesh & Bros.' A/c Dr. To Purchases Return A/c (Being goods returned to Ramesh & Bros.) | 1,500 | 1,500 | |
| Apr 12 | Ramesh & Bros.' A/c Dr. To Bank A/c To Discount Received A/c (Being cheque sent to Ramesh & Bros. in full settlement; discount received ₹600) | 9,100 | 8,500 600 | |
| Apr 12 | Loss by Fire A/c Dr. To Purchases A/c (Being goods costing ₹5,000 destroyed by fire) | 5,000 | 5,000 | |
| Apr 20 | Bank A/c Dr. To Loss by Fire A/c (Being insurance claim received for goods destroyed by fire) | 4,000 | 4,000 | |
| Apr 30 | Bank Interest A/c Dr. To Bank A/c (Being bank charges debited by bank) | 200 | 200 | |
| Apr 30 | Cash A/c Dr. To Loan from Ridhi A/c (Being cash borrowed from Ridhi @ 10% per annum) | 50,000 | 50,000 | |
| Apr 30 | Cash A/c Dr. To Mukand & Co. A/c (Being cash received from Mukand & Co. on account) | 3,000 | 3,000 | |
| Apr 30 | Cash A/c Dr. To Capital A/c (Being household furniture sold and proceeds invested in business) | 10,000 | 10,000 | |
| Apr 30 | Cash A/c Dr. To Sales A/c (Being goods sold to Anita; cost ₹5,000 + 20% profit ₹1,000 = ₹6,000; less 20% TD = ₹4,800) | 4,800 | 4,800 | |
| Apr 30 | Sunil's A/c Dr. To Sales A/c To Carriage Outward A/c (Being goods sold to Sunil; cost ₹20,000 + 20% profit = ₹24,000; less 20% TD = ₹19,200; cartage ₹150) | 19,350 | 19,200 150 |
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
This guide covers "Q.No.22 | Chapter 8 – Journal | T.S. Grewal Solution 2025-26", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Textbook Solution.
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