Question 10 Chapter 5 – Unimax Publications of Class 11

Q10 - CH-5 Solution

Question 10 Chapter 5 – Unimax

Free Accounting book Solution - Class 11 and Class 12

10. Journalise the following transactions in the books of Varun, Delhi:
(i) He started business contributing Rs. 10,000 in cash, Rs. 5,00,000 in cheque and a building Valued at Rs. 5,00,000.
(ii) Purchased goods from Mohan Jaipur for Rs. 2,00,000 out of which cheque was issued for Rs. 60,000.
(iii) Sold goods on credit to Ravinder, Delhi for Rs. 1,60,000.
(iv) Received Rs. 1,75,700 by cheque from Ravinder in full settlement of his account.
(v) Paid Rs. 1,62,000 to Mohan in full settlement of amount due to him.
(vi)A new machine of Rs. 2,40,000 was purchased from Machine Tools Ltd., Ludhiana in Exchange of an old machine valued at Rs. 50,000. He gave a cheque of Rs. 1,00,000 from his Savings account and balance from firm’s account.
(vii) Purchased machinery from Mohan & Sons, Delhi for Rs. 50,000 on credit.
(viii) Depreciation of Rs. 5,000 was provided on machinery at the end of the year.
(ix) Varun issued a cheque for Rs. 50,000 from his savings account in firm’s name.
(x) Paid Rs. 5,000 as income tax.
(xi) A cheque amounting to Rs. 50,000 deposited in the bank from his savings account returned Dishonoured for technical reasons. CGST and SGST @ 6% each is to be levied on intra-state (within the state purchase and sale) While IGST is to be levied@12% on inter-state transactions.

The solution of Question 10 Chapter 5 – Unimax:


Date Particulars   L.F. Debit Credit
(i) Cash A/c Dr.   10,000  
  Bank A/c Dr.   5,00,000  
  Building A/c Dr.   5,00,000  
  To Capital A/c       10,10,000
  (Being the business started with cash 10,000, cheque 5,00,000 and building of 5,00,000)        
(ii) Purchases A/c Dr.   2,00,000  
  Input IGST A/c Dr.   24,000  
  To Bank A/c       60,000
  To Mohan A/c       1,64,000
  (Being the goods purchased from Mohan Jaipur paying GST 12%, issued cheque for 60,000)        
(iii) Ravinder A/c Dr.   1,79,200  
  To Sales A/c       1,60,000
  To Output CGST A/c       9,600
  To Output SGST A/c       9,600
  (Being the intra-state sale of goods to Ravinder, Delhi on Credit for 1,60,000, charging CGST and SGST 6% 1,75,700 Each)        
(iv) Bank A/c Dr.   1,75,700  
  Discount Allowed A/c Dr.   3,500  
  To Ravinder A/c       1,79,200
  (Being the cheque received from Ravinder and allowed him Discount of 4,000)        
(v) Mohan A/c Dr.   1,64,000  
  To Bank A/c       1,62,000
  To Discount Received A/c       2,000
  (Being 1,62,000 paid to D. Lal in full settlement of his dues And discount received)        
(vi) Machinery A/c (New) Dr.   2,40,000  
  Input IGST A/c Dr.   28,800  
  To Machine Tools A/c       2,68,800
  (Being a new machine purchased, paying IGST 12%)        
  Machine Tools A/c Dr.   2,68,800  
  To Machinery A/c       50,000
  To Output CGST A/c       6,000
  To Capital A/c       1,00,000
  To Bank A/c       1,12,800
  (Being an old machine given in settlement charging IGST 12%, a cheque of 1,00,000 from savings account and Balance from Firms account)        
(vii) Machinery A/c Dr.   50,000  
  Input CGST A/c Dr.   3,000  
  Input SGST A/c Dr.   3,000  
  To Sales A/c       56,000
  (Being the purchase of machinery on credit from Mohan & Sons)        
(viii) Depreciation A/c Dr.   5,000  
  To Machinery A/c       5,000
  (Being the depreciation charged on machinery for the year)        
(ix) Bank A/c Dr.   50,000  
  To Capital A/c       50,000
  (Being the cheque from proprietor’s savings account)        
(x) Drawings A/c Dr.   5,000  
  To Cash A/c       5,000
  (Being the income tax paid)        
(xi) Capital A/c Dr.   50,000  
  To Bank A/c       50,000
  (Being the cheque deposited into bank dishonoured)      

Note: An old machine given in exchange means sale of an old machine. Therefore, IGST is charged, it being inter-state sale.

This is all about the Question 10 Chapter 5 – Unimax. You can check out the following article to better understand:

Opening Journal Entry – its Rules and Examples 

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Opening Journal Entry – its Rules and Examples – In Hindi

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You can also Check out the solved question of other Chapters: –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.


  • Chapter No. 1 – Introduction of Accounting
  • Chapter No. 2 – Theory Base of Accounting
  • Chapter No. 3 – Vouchers and Transactions
  • Chapter No. 4 – Journal
  • Chapter No. 5 – Goods and Services Tax (GST) : An Introduction
  • Chapter No. 6 – Ledger
  • Chapter No. 7 – Special Purpose Book – Cash Book
  • Chapter No. 8 – Other Subsidiary Books
  • Chapter No. 9 – Trial Balance
  • Chapter No. 10 – Rectification of Errors
  • Chapter No. 11 – Depreciation
  • Chapter No. 12 – Provision and Reserves
  • Chapter No. 13 – Bank Reconlciliation Statement
  • Chapter No. 14 – Bills of Exchange

Students may Choose only one part from the Part II and Part III


  • Chapter No. 15 – Financial Statements (Without Adjustments)
  • Chapter No. 16 – Financial Statements (With Adjustments)
  • Chapter No. 17 – Accounts from Incomplete Records – Single Entry System


  • Chapter No. 18 – Introduction to Compurters and Accounting information System
  • Chapter No. 19 – Computerised Accounting
  • Chapter No. 20 – Accounting Software : Tally
  • Chapter No. 21 – Data Base System
  • Chapter No. 22 – Concept of Entity and Relationship

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