Question No 38 Chapter No 19 – T.S. Grewal 11 Class

Question No 38 Chapter No 19

Question No 38 Chapter No 19

38. Surya does not keep a systematic record of his transactions. He is able to give you the following information regarding his assets and liabilities:

  31st March 2017 31st March 2018
Creditors for goods 21,000 19,000
Creditors for expenses 1,500 1,800
Bills Payable 8,700 11,500
Sundry Debtors 35,000 34,000
Stock At cost 28,000 25,000
Furniture and Fittings 10,000 12,000
Cash 5,100

Following additional information is also available for the year ended 31st March, 2018:

   
Bills Payable Issued 20,800
Cash Sales 15,000
Payment to Sundry Creditors 31,000
Expenses paid 6,600
Drawings 8,000

Bad Debts during the year were 900. As regards sale, Surya tells you that he always sells goods at Cost plus 25%. Furniture and Fittings are to be depreciated at 10% of the value in the beginning of the year. Prepare Surya’s Trading and Profit and Loss Account for the year ended 31st March, 2018 and his Balance Sheet

 

The solution of Question No 38 Chapter No 19:-

 

Trading Account
Particular
Amount Particular
Amount
To Opening Stock   28,000 By Sales  15,000 + 51,000 66,000
To Purchases    49,800 By Closing Stock   25,000
To Gross Profit   13,200      
    91,000     91,000

 

Profit and Loss Account
Particular
Amount Particular
Amount
To Bad Debts   4,050 By Gross Profit   13,200
To Expenses 6,600        
Add: Closing Creditors for Expenses 1,800 6,900      
To Depreciation on Furniture and Fittings   1,000      
To Net Profit   4,400      
    13,200     13,200

 

Balance Sheet
as on April 01, 2018 
Particular
Amount Particular
Amount
Creditors for Goods   19,000 Cash Balance   4,600
Creditors for Expenses   1,800 Stock   25,000
Bills Payable   11,500 Debtors   34,000
Capital 46,900   Furniture and Fittings   12,000
Less: Drawings 8,000        
Add: Net Profit 4,400 43,300      
    75,600     75,600

 

Balance Sheet
as on April 01, 2017
Particular
Amount Particular
Amount
Creditors for Goods   21,000 Cash Balance   5,100
Creditors for Expenses   1,500 Stock   28,000
Bills Payable   8,700 Debtors   35,000
Capital   46,900 Furniture and Fittings   10,000
           
    78,100     78,100

 

Bank Account
Particular
Amount Particular
Amount
Balance b/d   5,100 Expenses A/c   6,600
Debtors A/c   51,100 Sundry Creditors A/c   31,000
Sales A/c   15,000 Furniture and Fittings A/c   3,000
      Bills Payable A/c   18,000
      Drawings A/c   8,000
      Balance c/d   16,375
    71,200     71,200

 

Debtors Account
Particular Amount Particular Amount
Balance b/d   35,000 Bad Debts   900
      Sales A/c Cash   51,100
Sales Credit A/c   51,000      
           
      Balance c/d   34,000
    3,00,000     3,00,000

 

Creditors Account
Particular Amount Particular Amount
Bills Payable A/c   20,800 Balance b/d   21,000
Cash A/c   31,000      
           
Balance c/d   19,000      
      Purchases A/c   49,800
    70,800     70,800

 

Bills Payable Account
Particular Amount Particular Amount
 Cash   18,000 Bad Debts   8,700
           
           
Balance c/d   11,500 Creditors for goods   20,800
    29,500     29,500

 

 

Furniture and Fittings Account
Particular Amount Particular Amount
Balance b/d   10,000 Depreciation   1,000
Cash A/c   31,000      
      Balance c/d   12,000
Cash-Purchases   3,000      
    70,800     70,800

 

Computation of Cost of Goods Sold and Credit Sales

COGS = Opening. Stock + Purchases – closing. Stock
  = 28,000 + 49,800 – 25,000
  = 52,800
Gross Profit = 52,800 × 25/100
  = 13,200
Total Sales = COGS + Gross Profit
  = 52,800 + 13,200
  = 66,000
Credit Sales = Total Sales – Cash Sales
  = 66,000 – 15,000
  = 51,000

 

Final Accounts: Definition and Explanation

Profit and Loss Account: Meaning, Format & Examples

 

Balance Sheet: Meaning, Format & Examples

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Also, Check out the solved question of previous Chapters: –

    • Chapter No. 1 – Introduction to Accounting
    • Chapter No. 2 – Basic Accounting Terms
    • Chapter No. 3 – Theory Base of Accounting, Accounting Standards and International Financial Reporting Standards(IFRS)
    • Chapter No. 4 – Bases of Accounting
    • Chapter No. 5 – Accounting Equation
    • Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
    • Goods and Services Tax(GST)
    • Chapter No. 7 – Origin of Transactions – Source Documents and Preparation of Vouchers
    • Chapter No. 8 – Journal
    • Chapter No. 9 – Ledger
    • Chapter No. 10 – Special Purpose Books I – Cash Book
    • Chapter No. 11 – Special Purpose Books II – Other Books
    • Chapter No. 12 – Bank Reconciliation Statement
    • Chapter No. 13 – Trial Balance
    • Chapter No. 14 – Depreciation
    • Chapter No. 15 – Provisions and Reserves
    • Chapter No. 16 – Accounting for Bills of Exchange
    • Chapter No. 17 – Rectification of Errors
    • Chapter No. 18 – Financial Statements of Sole Proprietorship
    • Chapter No. 19 – Adjustments in preparation of Financial Statements
    • Chapter No. 20 – Accounts from incomplete Records – Single Entry System
    • Chapter No. 21 – Computers in Accounting
    • Chapter No. 22 – Accounting Software – Tally
    • 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
    • Chapter No. 10 – Special Purpose Books I – Cash Book

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T.S. Grewals Double Entry Book Keeping - Question No 38 Chapter No 19 - T.S. Grewal 11 Class

T.S. Grewal’s Double Entry Book Keeping

Question No 37 Chapter No 19 – T.S. Grewal 11 Class

Question No 37 Chapter No 19

Question No 37 Chapter No 19

37.Following information is obtained from the books of Vinay, who maintained his books of account under Single Entry System:

I. Receipts for the year ended 31st March, 2018:  
From Debtors 88,125
Cash Sales 20,625
Paid by Vinay 12,500
  1,21,250
2. Payments during the year:  
New plant bought 3,125
Drawings 7,500
Salaries 5,625
Wages 33,625
Interest paid 375
Rent paid 6,625
Light and power 2,375
Sundry Expenses 10,625
Sundry Creditors 38,125
  1,08,000

Vinay banks all receipts and makes payments by means of cheque.

Assets and Liabilities As at 31st March,2017 As at 31st March, 2018 Rs
Sundry Creditors 12.625 12,000
Sundry Debtors 18,750 30,625
Bank 3,125 ?
Stock 31,250 15,625
Plant 37,500 36,575

 

From the above information, prepare Trading and Profit and Loss Account for the year ended 31st March, 2018 and Balance Sheet as on that date.

 

The solution of Question No 37 Chapter No 19:-

 

Trading Account
Particular
Amount Particular
Amount
To Opening Stock   31,250 By Sales  1, 00, 000 +20, 625 1,20,625
To Purchases    37,500 By Closing Stock   15,625
To Light & Power   2,375      
To Wages   33,625      
To Gross Profit   31,500      
    1,36,250     1,36,250

 

Profit and Loss Account
Particular
Amount Particular
Amount
To Depreciation on Plant   4,050 By Gross Profit   31,500
To Interest   375      
To Rent   6,625      
To Salary   5,625      
To Sundry Expenses   10,625      
To Net Profit   4,200      
    31,500     31,500

 

Balance Sheet
as on April 01, 2017
Particular
Amount Particular
Amount
Creditors   12,625 Cash in Hand   37,500
Capital 4,00,000 78,000 Closing Stock   15,625
      Debtors   3,125
      Plant   31,250
    90,625     90,625

 

Balance Sheet

as on March 31, 2018

Particular
Amount Particular
Amount
Creditors   12,000 Bank   16,375
Capital 78,000   Closing Stock   15,625
Less: Drawings 7,500   Debtors   30,625
Add: Additional Capital 12,500   Plant   36,575
Add: Net Profit 4,200 87,200      
           
    99,200     99,200

 

Bank Account
Particular
Amount Particular
Amount
Balance b/d   3,125 Creditors A/c   38,125
Capital A/c   12,500 Drawings A/c   7,500
Debtors A/c   88,125 Interest A/c   375
Sales A/c   20,625 Light & Power A/c   2,375
      Plant A/c   3,125
      Rent A/c   6,625
      Salaries A/c   5,625
      Sundry Expenses A/c   10,625
      Wages A/c   33,625
      Balance c/d   16,375
    1,24,375     1,24,375

 

Debtors Account
Particular Amount Particular Amount
Balance b/d   18,750 Cash A/c   88,125
      Balance c/d   30,625
           
           
Sales A/c
  1,00,000      
    3,00,000     3,00,000

 

Creditors Account
Particular Amount Particular Amount
Cash A/c   38,125 Balance b/d   12,625
Balance c/d   12,000      
           
           
      Purchases A/c   37,500
    50,125     50,125

 

 

 

Final Accounts: Definition and Explanation

Profit and Loss Account: Meaning, Format & Examples

 

Balance Sheet: Meaning, Format & Examples

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Comment if you have any question.

Also, Check out the solved question of previous Chapters: –

    • Chapter No. 1 – Introduction to Accounting
    • Chapter No. 2 – Basic Accounting Terms
    • Chapter No. 3 – Theory Base of Accounting, Accounting Standards and International Financial Reporting Standards(IFRS)
    • Chapter No. 4 – Bases of Accounting
    • Chapter No. 5 – Accounting Equation
    • Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
    • Goods and Services Tax(GST)
    • Chapter No. 7 – Origin of Transactions – Source Documents and Preparation of Vouchers
    • Chapter No. 8 – Journal
    • Chapter No. 9 – Ledger
    • Chapter No. 10 – Special Purpose Books I – Cash Book
    • Chapter No. 11 – Special Purpose Books II – Other Books
    • Chapter No. 12 – Bank Reconciliation Statement
    • Chapter No. 13 – Trial Balance
    • Chapter No. 14 – Depreciation
    • Chapter No. 15 – Provisions and Reserves
    • Chapter No. 16 – Accounting for Bills of Exchange
    • Chapter No. 17 – Rectification of Errors
    • Chapter No. 18 – Financial Statements of Sole Proprietorship
    • Chapter No. 19 – Adjustments in preparation of Financial Statements
    • Chapter No. 20 – Accounts from incomplete Records – Single Entry System
    • Chapter No. 21 – Computers in Accounting
    • Chapter No. 22 – Accounting Software – Tally
    • 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
    • Chapter No. 10 – Special Purpose Books I – Cash Book

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

T.S. Grewals Double Entry Book Keeping - Question No 37 Chapter No 19 - T.S. Grewal 11 Class

T.S. Grewal’s Double Entry Book Keeping

Question No 36 Chapter No 19 – T.S. Grewal 11 Class

Question No 36 Chapter No 19

Question No 36 Chapter No 19

36. Vijay commenced business as food grains merchant on 1st April, 2017 with a capital of 4,00,000. On the same day, he purchased furniture for 80,000. From the following particulars obtained from his books which do not conform to Double Entry principles, you are required to prepare the Trading and Profit and Loss Account for the year ended 31st March, 2018 and the Balance Sheet as on that date:

   
Sales including Cash Sales 2, 00, 000 5,00,00
Purchases (including Cash Purchases 1,20,000 4,00,000
Vijay’s Drawings incash 40,000
Salaries to Staff 48,000
Bad Debts written off 4,000
Trade Expenses paid  16,000

Vijay used goods of 12,000 for private purposes during the year. On 31st March, 2018, his Debtors amounted to 1,40,000 and Creditors 80,000. Stock-in-Trade on that date was 1,60,000.

The solution of Question No 36 Chapter No 19:-

 

Trading Account
Particular
Amount Particular
Amount
      By Sales   5,00,000
To Purchases  4,00,000   By Closing Stock   1,60,000
Less: Drawings 12,000 3,88,000      
To Gross Profit   2,72,000      
    6,60,000     6,60,000

 

Profit and Loss Account
Particular
Amount Particular
Amount
To Salary   48,000 By Gross Profit   2,72,000
To Trade Expenses   16,000      
To Bad Debts   4,000      
To Net Profit   2,04,000      
    2,72,000     2,72,000

 

Balance Sheet
Particular
Amount Particular
Amount
Creditors   80,000 Cash in Hand   2,56,000
Capital 4,00,000   Furniture   80,000
Less: Drawings 52,000   Debtors 1,40,000  
Add: Net Profit 2,04,000 5,52,000 Less: Bad Debts 4,000 1,36,000
Creditors   25,000 Closing Stock   1,60,000
    6,32,000     6,32,000

 

 

Cash Account
Particular
Amount Particular
Amount
Capital A/c   4,00,000 Creditors A/c   2,00,000
Debtors A/c   1,60,000 Drawings A/c   40,000
Sales A/c   2,00,000 Furniture A/c   80,000
      Purchases A/c   1,20,000
      Salaries A/c   48,000
      Trade Expenses A/c   16,000
      Balance c/d   2,56,000
    7,60,000     7,60,000

 

Debtors Account
Particular Amount Particular Amount
Sales A/c B/F   3,00,000 Cash A/c   1,60,000
           
           
           
      Balance c/d   1,40,000
    3,00,000     3,00,000

 

Creditors Account
Particular Amount Particular Amount
Cash A/c   2,00,000 Purchases A/c    2,80,000
           
           
           
Balance c/d
  80,000      
    2,80,000     2,80,000

 

 

 

Final Accounts: Definition and Explanation

Profit and Loss Account: Meaning, Format & Examples

 

Balance Sheet: Meaning, Format & Examples

Thanks, Please Like and share with your friends  

Comment if you have any question.

Also, Check out the solved question of previous Chapters: –

    • Chapter No. 1 – Introduction to Accounting
    • Chapter No. 2 – Basic Accounting Terms
    • Chapter No. 3 – Theory Base of Accounting, Accounting Standards and International Financial Reporting Standards(IFRS)
    • Chapter No. 4 – Bases of Accounting
    • Chapter No. 5 – Accounting Equation
    • Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
    • Goods and Services Tax(GST)
    • Chapter No. 7 – Origin of Transactions – Source Documents and Preparation of Vouchers
    • Chapter No. 8 – Journal
    • Chapter No. 9 – Ledger
    • Chapter No. 10 – Special Purpose Books I – Cash Book
    • Chapter No. 11 – Special Purpose Books II – Other Books
    • Chapter No. 12 – Bank Reconciliation Statement
    • Chapter No. 13 – Trial Balance
    • Chapter No. 14 – Depreciation
    • Chapter No. 15 – Provisions and Reserves
    • Chapter No. 16 – Accounting for Bills of Exchange
    • Chapter No. 17 – Rectification of Errors
    • Chapter No. 18 – Financial Statements of Sole Proprietorship
    • Chapter No. 19 – Adjustments in preparation of Financial Statements
    • Chapter No. 20 – Accounts from incomplete Records – Single Entry System
    • Chapter No. 21 – Computers in Accounting
    • Chapter No. 22 – Accounting Software – Tally
    • 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
    • Chapter No. 10 – Special Purpose Books I – Cash Book

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

T.S. Grewals Double Entry Book Keeping - Question No 36 Chapter No 19 - T.S. Grewal 11 Class

T.S. Grewal’s Double Entry Book Keeping

Question No 35 Chapter No 19 – T.S. Grewal 11 Class

Question No 35 Chapter No 19

Question No 35 Chapter No 19

35. Roshan, whose accounts are maintained by Single Entry System, acquired a retail business on 1st April, 2017. He had 40,000 of his own and he borrowed 20,000 from his wife. He paid 15,000 for Goodwill, 5,000 for Furniture and 35,000 for Stock. Total cash received by him during the financial year from the Debtors was 2,30,000. His payments were:

   
Purchases 1,56,000
Salary and Wages 21,400
Trade Expenses 7,200
Rent:  
For business premises 5,920
For private house 2,960
Payments made for domestic purposes and drawings 26,400

At the end of the year, the Stock was 37,500. He owed 13,500 to Creditors for goods and his customers owed to him 15,000. Provide 5% for Depreciation on Furniture, Interest at 5% on wife’s Loan and 1,000 for Doubtful Debts. Prepare the Cash Account, the Profit and Loss Account for the year ended 31st March, 2018 and the Balance Sheet at the close of the yea

The solution of Question No 35 Chapter No 19:-

 

Trading Account
Particular
Amount Particular
Amount
To Opening Stock   1,62,000 By Sales   2,45,000
To Purchases Cash 1,56,000   By Closing Stock   37,500
Credit 13,500 1,69,500      
To Gross Profit   78,000      
    2,82,500     2,82,500

 

Profit and Loss Account
Particular
Amount Particular
Amount
To Salary and Wages   21,400 By Gross Profit   78,000
To Trade Expenses   7,200      
To Rent for Business Premises   5,920      
To Provision for Doubtful Debts   1,000      
To Depreciation on Furniture   250      
To Interest on wife’s loan   1,000      
To Net Profit   41,230      
    78,000     78,000

 

Balance Sheet
Particular
Amount Particular
Amount
Creditors   13,500 Cash Balance   15,120
Wife’s Loan from Wife 20,000   Stock   37,500
Wife’s Loan from Wife 1, 000 21, 000 Furniture 5,000  
Capital 40,000   Less: Depreciation 250 4,750
Add: Net Profit 41,230 51,870 Debtors 15,000  
Bills Payable   38,500 Less: Provision for Doubtful Debts 1,000 14,000
Creditors   25,000 Goodwill   15,000
    5,22,000     5,22,000

 

 

Cash Account
Particular
Amount Particular
Amount
Capital   21,400 Goodwill   15,000
Wife’s Loan   7,200 Furniture   5,000
Debtors   5,920 Stock   35,000
      Purchases   1,56,000
      Salary and Wages   21,400
      Trade Expenses   7,200
      Rent for Business Premises   5,920
      Drawings2, 960 +26, 400   29,360
      Balance c/d   15,120
    2,90,000     2,90,000

 

Debtors Account
Particular Amount Particular Amount
Sales A/c B/F   2,45,000 Cash A/c   2,30,000
           
           
           
      Balance c/d   15,000
    2,45,000     2,45,000

 

Creditors Account
Particular Amount Particular Amount
      Purchases-Credit B/F   13,500
           
           
           
Balance c/d
  13,500      
    13,500     13,500

 

 

 

Final Accounts: Definition and Explanation

Profit and Loss Account: Meaning, Format & Examples

 

Balance Sheet: Meaning, Format & Examples

Thanks, Please Like and share with your friends  

Comment if you have any question.

Also, Check out the solved question of previous Chapters: –

    • Chapter No. 1 – Introduction to Accounting
    • Chapter No. 2 – Basic Accounting Terms
    • Chapter No. 3 – Theory Base of Accounting, Accounting Standards and International Financial Reporting Standards(IFRS)
    • Chapter No. 4 – Bases of Accounting
    • Chapter No. 5 – Accounting Equation
    • Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
    • Goods and Services Tax(GST)
    • Chapter No. 7 – Origin of Transactions – Source Documents and Preparation of Vouchers
    • Chapter No. 8 – Journal
    • Chapter No. 9 – Ledger
    • Chapter No. 10 – Special Purpose Books I – Cash Book
    • Chapter No. 11 – Special Purpose Books II – Other Books
    • Chapter No. 12 – Bank Reconciliation Statement
    • Chapter No. 13 – Trial Balance
    • Chapter No. 14 – Depreciation
    • Chapter No. 15 – Provisions and Reserves
    • Chapter No. 16 – Accounting for Bills of Exchange
    • Chapter No. 17 – Rectification of Errors
    • Chapter No. 18 – Financial Statements of Sole Proprietorship
    • Chapter No. 19 – Adjustments in preparation of Financial Statements
    • Chapter No. 20 – Accounts from incomplete Records – Single Entry System
    • Chapter No. 21 – Computers in Accounting
    • Chapter No. 22 – Accounting Software – Tally
    • 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
    • Chapter No. 10 – Special Purpose Books I – Cash Book

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

T.S. Grewals Double Entry Book Keeping - Question No 35 Chapter No 19 - T.S. Grewal 11 Class

T.S. Grewal’s Double Entry Book Keeping

Question No 34 Chapter No 19 – T.S. Grewal 11 Class

Question No 34 Chapter No 19

Question No 34 Chapter No 19

34. From the following information, ascertain the opening balance of Sundry Debtors and the closing balance of Sundry Creditors

   
Sundry Creditors as on 31st March, 2017 20,600
Sundry Debtors as on 31st March, 2018 37,400
Stock as on 31st March, 2017 26,000
Stock as on 31st March, 2018 24,000
During the year ended 31st March, 2018:  
Purchases 1,10,000
Discount allowed by creditors 800
Discount allowed to customers 1,100
Cash paid to sundry creditors 95,000
Bills Payable issued by them 14,000
Bills Receivable received from customers 16,500
Cash received from customers 1,30,000
Bills receivable dishonored 1,900

 

 

The solution of Question No 34 Chapter No 19:-

 

Debtors Account
Liabilities

Amount Assets Amount
Balance b/d   43,100 Cash A/c   1,30,000
Sales A/c   1,40,000 Discount Allowed A/c   1,100
Bill Receivable A/c   1,900 Bill Receivable A/c   16,500
           
      Balance c/d   37,400
    1,85,000     1,85,000

 

Creditors Account
Liabilities

Amount Assets Amount
Cash A/c   43,100 Balance b/d   20,600
Discount Received A/c   1,40,000 Purchases A/c   1,10,000
Bills Payable A/c   1,900      
           
Balance c/d
  20,800      
    1,30,600     1,30,600

 

 

Cost of Goods Sold = Opening Stock + Purchases – Closing Stock
Cost of Goods Sold = 26,000 + 1,10,000 – 24,000
  = 1,12,000
Gross Profit = 1,12,000 X 30
70
  = 48,000    
Sale = Cost of Goods Sold + Gross Profit
Sale = 1,12,000 + 48,000
  = 1,60,000
Credit Sales = 1,60,000 – 20,000
  = 1,40,000



Final Accounts: Definition and Explanation

Profit and Loss Account: Meaning, Format & Examples

 

Balance Sheet: Meaning, Format & Examples

Thanks, Please Like and share with your friends  

Comment if you have any question.

Also, Check out the solved question of previous Chapters: –

    • Chapter No. 1 – Introduction to Accounting
    • Chapter No. 2 – Basic Accounting Terms
    • Chapter No. 3 – Theory Base of Accounting, Accounting Standards and International Financial Reporting Standards(IFRS)
    • Chapter No. 4 – Bases of Accounting
    • Chapter No. 5 – Accounting Equation
    • Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
    • Goods and Services Tax(GST)
    • Chapter No. 7 – Origin of Transactions – Source Documents and Preparation of Vouchers
    • Chapter No. 8 – Journal
    • Chapter No. 9 – Ledger
    • Chapter No. 10 – Special Purpose Books I – Cash Book
    • Chapter No. 11 – Special Purpose Books II – Other Books
    • Chapter No. 12 – Bank Reconciliation Statement
    • Chapter No. 13 – Trial Balance
    • Chapter No. 14 – Depreciation
    • Chapter No. 15 – Provisions and Reserves
    • Chapter No. 16 – Accounting for Bills of Exchange
    • Chapter No. 17 – Rectification of Errors
    • Chapter No. 18 – Financial Statements of Sole Proprietorship
    • Chapter No. 19 – Adjustments in preparation of Financial Statements
    • Chapter No. 20 – Accounts from incomplete Records – Single Entry System
    • Chapter No. 21 – Computers in Accounting
    • Chapter No. 22 – Accounting Software – Tally
    • 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
    • Chapter No. 10 – Special Purpose Books I – Cash Book

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

T.S. Grewals Double Entry Book Keeping - Question No 34 Chapter No 19 - T.S. Grewal 11 Class

T.S. Grewal’s Double Entry Book Keeping

Question No 33 Chapter No 19 – T.S. Grewal 11 Class

Question No 33 Chapter No 19

Question No 33 Chapter No 19

33. Calculate Total Sales from the following information:

   
Bills Receivables as on 1st April, 2017 7,800
Debtors as on 1st April, 2017 30,800
Cash received on maturity of Bills Receivable during the year 20,900
Cash received from Debtors 70,000
Bad Debts written off 4,800
Returns Inward 8,700
Bills Receivable dishonored 1,800
Bills Receivable on 31st March, 2018 6,000
Debtors as on 31st March, 2018 25,500
Cash Sales during the year 15,900

 

The solution of Question No 33 Chapter No 19:-

 

Debtors Account
Liabilities

Amount Assets Amount
Balance b/d   30,800 Cash A/c   70,000
Sales A/c   97,300 Sales Return A/c   8,700
Bill Receivable A/c   1,800 Bad-Debts A/c   4,800
      Bill Receivable A/c   20,900
      Balance c/d   25,500
    1,09,000     1,09,000

 

Total Sales = Cash Sales + Credit Sales
Total Sales = 15,900 + 97,300
  = 1,13,200



Final Accounts: Definition and Explanation

Profit and Loss Account: Meaning, Format & Examples

 

Balance Sheet: Meaning, Format & Examples

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Also, Check out the solved question of previous Chapters: –

    • Chapter No. 1 – Introduction to Accounting
    • Chapter No. 2 – Basic Accounting Terms
    • Chapter No. 3 – Theory Base of Accounting, Accounting Standards and International Financial Reporting Standards(IFRS)
    • Chapter No. 4 – Bases of Accounting
    • Chapter No. 5 – Accounting Equation
    • Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
    • Goods and Services Tax(GST)
    • Chapter No. 7 – Origin of Transactions – Source Documents and Preparation of Vouchers
    • Chapter No. 8 – Journal
    • Chapter No. 9 – Ledger
    • Chapter No. 10 – Special Purpose Books I – Cash Book
    • Chapter No. 11 – Special Purpose Books II – Other Books
    • Chapter No. 12 – Bank Reconciliation Statement
    • Chapter No. 13 – Trial Balance
    • Chapter No. 14 – Depreciation
    • Chapter No. 15 – Provisions and Reserves
    • Chapter No. 16 – Accounting for Bills of Exchange
    • Chapter No. 17 – Rectification of Errors
    • Chapter No. 18 – Financial Statements of Sole Proprietorship
    • Chapter No. 19 – Adjustments in preparation of Financial Statements
    • Chapter No. 20 – Accounts from incomplete Records – Single Entry System
    • Chapter No. 21 – Computers in Accounting
    • Chapter No. 22 – Accounting Software – Tally
    • 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
    • Chapter No. 10 – Special Purpose Books I – Cash Book

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T.S. Grewals Double Entry Book Keeping - Question No 33 Chapter No 19 - T.S. Grewal 11 Class

T.S. Grewal’s Double Entry Book Keeping

Question No 32 Chapter No 19 – T.S. Grewal 11 Class

Question No 32 Chapter No 19

Question No 32 Chapter No 19

32. From the following information, calculate Total Sales made during the period:

   
Debtors as on 1st April, 2017 20,400
Cash received from debtors during the year as per Cash Book 60,800
Returns Inward 5,400
Bad Debts 2,400
Debtors as on 31st March, 2018 27,600
Cash Sales as per Cash Book 56,800

 

 

The solution of Question No 32 Chapter No 19:-

 

Debtors Account
Liabilities

Amount Assets Amount
Balance b/d   30,200 Cash A/c   60,800
Sales A/c   1,200 Sales Return A/c   5,400
      Bad-Debts A/c   2,400
           
      Balance c/d   27,600
    96,200     96,200

 

Total Sales = Cash Sales + Credit Sales
Total Sales = 56,800 + 75,800
  = 1,32,600



Final Accounts: Definition and Explanation

Profit and Loss Account: Meaning, Format & Examples

 

Balance Sheet: Meaning, Format & Examples

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Comment if you have any question.

Also, Check out the solved question of previous Chapters: –

    • Chapter No. 1 – Introduction to Accounting
    • Chapter No. 2 – Basic Accounting Terms
    • Chapter No. 3 – Theory Base of Accounting, Accounting Standards and International Financial Reporting Standards(IFRS)
    • Chapter No. 4 – Bases of Accounting
    • Chapter No. 5 – Accounting Equation
    • Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
    • Goods and Services Tax(GST)
    • Chapter No. 7 – Origin of Transactions – Source Documents and Preparation of Vouchers
    • Chapter No. 8 – Journal
    • Chapter No. 9 – Ledger
    • Chapter No. 10 – Special Purpose Books I – Cash Book
    • Chapter No. 11 – Special Purpose Books II – Other Books
    • Chapter No. 12 – Bank Reconciliation Statement
    • Chapter No. 13 – Trial Balance
    • Chapter No. 14 – Depreciation
    • Chapter No. 15 – Provisions and Reserves
    • Chapter No. 16 – Accounting for Bills of Exchange
    • Chapter No. 17 – Rectification of Errors
    • Chapter No. 18 – Financial Statements of Sole Proprietorship
    • Chapter No. 19 – Adjustments in preparation of Financial Statements
    • Chapter No. 20 – Accounts from incomplete Records – Single Entry System
    • Chapter No. 21 – Computers in Accounting
    • Chapter No. 22 – Accounting Software – Tally
    • 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
    • Chapter No. 10 – Special Purpose Books I – Cash Book

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

T.S. Grewals Double Entry Book Keeping - Question No 32 Chapter No 19 - T.S. Grewal 11 Class

T.S. Grewal’s Double Entry Book Keeping

Question No 31 Chapter No 19 – T.S. Grewal 11 Class

Question No 31 Chapter No 19

Question No 31 Chapter No 19

31. Cash sales of a business in a year were 85,000, the Cost of Goods Sold including direct expenses was 97,000 and Gross Profit as shown by the Trading Account for the year was 1,29,000. Calculate Credit Sales during the year.

 

The solution of Question No 31 Chapter No 19:-

Gross Profit = Net Sales – Cost of Goods Sold
1,29,000 = Net Sales – 97,000
Net Sales = 2,26,000
Credit Sales = Total Net Sales – Cash Sale
Credit Sales = 2,26,000 – 85,000 
  = 1,41,000



Final Accounts: Definition and Explanation

Profit and Loss Account: Meaning, Format & Examples

 

Balance Sheet: Meaning, Format & Examples

Thanks, Please Like and share with your friends  

Comment if you have any question.

Also, Check out the solved question of previous Chapters: –

    • Chapter No. 1 – Introduction to Accounting
    • Chapter No. 2 – Basic Accounting Terms
    • Chapter No. 3 – Theory Base of Accounting, Accounting Standards and International Financial Reporting Standards(IFRS)
    • Chapter No. 4 – Bases of Accounting
    • Chapter No. 5 – Accounting Equation
    • Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
    • Goods and Services Tax(GST)
    • Chapter No. 7 – Origin of Transactions – Source Documents and Preparation of Vouchers
    • Chapter No. 8 – Journal
    • Chapter No. 9 – Ledger
    • Chapter No. 10 – Special Purpose Books I – Cash Book
    • Chapter No. 11 – Special Purpose Books II – Other Books
    • Chapter No. 12 – Bank Reconciliation Statement
    • Chapter No. 13 – Trial Balance
    • Chapter No. 14 – Depreciation
    • Chapter No. 15 – Provisions and Reserves
    • Chapter No. 16 – Accounting for Bills of Exchange
    • Chapter No. 17 – Rectification of Errors
    • Chapter No. 18 – Financial Statements of Sole Proprietorship
    • Chapter No. 19 – Adjustments in preparation of Financial Statements
    • Chapter No. 20 – Accounts from incomplete Records – Single Entry System
    • Chapter No. 21 – Computers in Accounting
    • Chapter No. 22 – Accounting Software – Tally
    • 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
    • Chapter No. 10 – Special Purpose Books I – Cash Book

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

T.S. Grewals Double Entry Book Keeping - Question No 31 Chapter No 19 - T.S. Grewal 11 Class

T.S. Grewal’s Double Entry Book Keeping

Question No 30 Chapter No 19 – T.S. Grewal 11 Class

Question No 30 Chapter No 19

Question No 30 Chapter No 19

30. From the following information supplied by X, who keeps his books on Single Entry System, you are required to calculate Total Purchases:

   
Opening balance of Bills Payable 5,000
Opening balance of Creditors 6,000
Closing balance of Bills Payable 7,000
Closing balance of Creditors 4,000
Cash paid to Creditors during the year 30,200
Bills Payable discharged during the year 8,900
Returns Outward 1,200
Cash Purchases 25,800

 

 

The solution of Question No 30 Chapter No 19:-

 

 

Creditors Account
Liabilities

Amount Assets Amount
Cash A/c   30,200 Balance b/d   6,000
Purchases Return A/c   1,200 Purchases A/c   40,300
Bills Payable A/c   10,900      
           
Balance c/d
  4,000       
    46,300     46,300

Total Purchases = Cash Purchases + Credit Purchases
Total Purchases = 25,800 + 40,300 = 66,100



Final Accounts: Definition and Explanation

Profit and Loss Account: Meaning, Format & Examples

 

Balance Sheet: Meaning, Format & Examples

Thanks, Please Like and share with your friends  

Comment if you have any question.

Also, Check out the solved question of previous Chapters: –

    • Chapter No. 1 – Introduction to Accounting
    • Chapter No. 2 – Basic Accounting Terms
    • Chapter No. 3 – Theory Base of Accounting, Accounting Standards and International Financial Reporting Standards(IFRS)
    • Chapter No. 4 – Bases of Accounting
    • Chapter No. 5 – Accounting Equation
    • Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
    • Goods and Services Tax(GST)
    • Chapter No. 7 – Origin of Transactions – Source Documents and Preparation of Vouchers
    • Chapter No. 8 – Journal
    • Chapter No. 9 – Ledger
    • Chapter No. 10 – Special Purpose Books I – Cash Book
    • Chapter No. 11 – Special Purpose Books II – Other Books
    • Chapter No. 12 – Bank Reconciliation Statement
    • Chapter No. 13 – Trial Balance
    • Chapter No. 14 – Depreciation
    • Chapter No. 15 – Provisions and Reserves
    • Chapter No. 16 – Accounting for Bills of Exchange
    • Chapter No. 17 – Rectification of Errors
    • Chapter No. 18 – Financial Statements of Sole Proprietorship
    • Chapter No. 19 – Adjustments in preparation of Financial Statements
    • Chapter No. 20 – Accounts from incomplete Records – Single Entry System
    • Chapter No. 21 – Computers in Accounting
    • Chapter No. 22 – Accounting Software – Tally
    • 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
    • Chapter No. 10 – Special Purpose Books I – Cash Book

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

T.S. Grewals Double Entry Book Keeping - Question No 30 Chapter No 19 - T.S. Grewal 11 Class

T.S. Grewal’s Double Entry Book Keeping

Question No 29 Chapter No 19 – T.S. Grewal 11 Class

Question No 29 Chapter No 19

Question No 29 Chapter No 19

29. Following information is given of an accounting year: Opening Creditors 15,000; Cash paid to creditors 15,000; Returns Outward 1,000 and Closing creditors 12,000. Calculate Credit Purchases during the year.

 

The solution of Question No 29 Chapter No 19:-

 

 

Creditors Account
Liabilities

Amount Assets Amount
Cash A/c   15,000 Balance b/d   15,000
Purchases Return A/c   1,000 Purchases A/c   12,000
           
Balance c/d
  12,000       
    28,000     28,000



Final Accounts: Definition and Explanation

Profit and Loss Account: Meaning, Format & Examples

 

Balance Sheet: Meaning, Format & Examples

Thanks, Please Like and share with your friends  

Comment if you have any question.

Also, Check out the solved question of previous Chapters: –

    • Chapter No. 1 – Introduction to Accounting
    • Chapter No. 2 – Basic Accounting Terms
    • Chapter No. 3 – Theory Base of Accounting, Accounting Standards and International Financial Reporting Standards(IFRS)
    • Chapter No. 4 – Bases of Accounting
    • Chapter No. 5 – Accounting Equation
    • Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
    • Goods and Services Tax(GST)
    • Chapter No. 7 – Origin of Transactions – Source Documents and Preparation of Vouchers
    • Chapter No. 8 – Journal
    • Chapter No. 9 – Ledger
    • Chapter No. 10 – Special Purpose Books I – Cash Book
    • Chapter No. 11 – Special Purpose Books II – Other Books
    • Chapter No. 12 – Bank Reconciliation Statement
    • Chapter No. 13 – Trial Balance
    • Chapter No. 14 – Depreciation
    • Chapter No. 15 – Provisions and Reserves
    • Chapter No. 16 – Accounting for Bills of Exchange
    • Chapter No. 17 – Rectification of Errors
    • Chapter No. 18 – Financial Statements of Sole Proprietorship
    • Chapter No. 19 – Adjustments in preparation of Financial Statements
    • Chapter No. 20 – Accounts from incomplete Records – Single Entry System
    • Chapter No. 21 – Computers in Accounting
    • Chapter No. 22 – Accounting Software – Tally
    • 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
    • Chapter No. 10 – Special Purpose Books I – Cash Book

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

T.S. Grewals Double Entry Book Keeping - Question No 29 Chapter No 19 - T.S. Grewal 11 Class

T.S. Grewal’s Double Entry Book Keeping