Question 11b Chapter 4 - Unimax Publications of Class 11

Question 11b Chapter 4 – Unimax

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The solution of Question 11b Chapter 4 – Unimax:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

11b Pass journal entries for the following:
2021
Dec. 1 Bought goods from Johny worth Rs. 1,00,000 at 10% T.D. and 10% C.D. Paid full amount at the time of purchase itself.
Dec. 4 Bought goods from Bhatia for Rs. 2,00,000 at 10% cash discount and 10% Trade discount. Half of the amount paid by cheque at the time of purchase.
Dec. 12 Sold goods to Sunny for Rs. 2,00,000 on terms 10% Trade discount and 10% Cash discount. If the payment is received within 10 days. 80% payment is received on Dec. 20 by cheque.
Dec. 18 Sold goods to Bunny for Rs. 2,00,000 at 20% Trade discount and 20% cash discount. If the payment is received within 15 days. He paid half the amount on Dec. 26 and 50% of the remainder on Dec. 31.
Dec. 20 Rahul to whom Rs. 10,000 was payable. His account settled by receiving of 5%.
Dec. 22 Shivani who owed Rs. 6,000 paid the amount in full settlement of her availing 2% discount.
Dec. 26 Paid Rs. 4,800 to Ravi availing a discount of 4%.
Dec. 28 Received Rs. 9,800 by cheque from Shriya allowing her 2% discount

The solution of Question 11b Chapter 4 – Unimax:

JOURNAL

Date	Particulars		L.F.	Debit	Credit
2021
Dec. 1	Purchases A/c	Dr.		90,000
	To Cash A/c				81,000
	To Discount received A/c				9,000
	(Being goods purchased from Johny )

Dec 4	Purchases A/c	Dr.		1,80,000
	To Cash A/c				90,000
	To Bhatia A/c				81,000
	To Discount received A/c				9,000
	(Being goods purchased from Bhatia at T.D & C.D dec 12 payment made at time)

Dec 4	Sunny A/c	Dr.		1,80,000
	To Sales A/c				1,80,000
	(Being goods sold to sunny at T.D)

Dec 18	Bunny A/c	Dr.		1,60,000
	To Sales A/c				1,60,000
	(Being goods sold to bunny at T.D)

Dec 20	Cash A/c	Dr.		1,29,600
	Discount allowed A/c	Dr.		14,400
	To Sunny A/c				1,44,000
	(Being 80% payment received from sunny at C.D)

Dec 20	Rahul A/c	Dr.		10,000
	To Cash A/c				9,500
	To Discount received A/c				500
	(Being cash paid to Rahul at 5% cash discount)

Dec 22	Cash A/c	Dr.		5,880
	Discount allowed A/c	Dr.		120
	To Shivani A/c				6,000
	(Being cash received from Shivani in full settlement)

Dec 26	Cash A/c	Dr.		64,000
	Discount allowed A/c	Dr.		16,000
	To Shivani A/c				80,000
	(Being 50% payment received from bunny at C.D 20%)

Dec 26	Rahul A/c	Dr.		5,000
	To Cash A/c				4,800
	To Discount received A/c				200
	(Being paid to Ravi after availing 4% C.D i.e (Dis. 4,800x 4/ 26 = 200)

Dec 28	Cash A/c	Dr.		9,800
	Discount allowed A/c	Dr.		200
	To Shriya A/c				10,000
	(Being 80% payment received from sunny at C.D)

Dec 31	Cash A/c	Dr.		64,000
	Discount allowed A/c	Dr.		16,000
	To Bunny A/c				80,000
	(Being remaining 50% payment received from bunny)

This is all about Question 11b Chapter 4 – 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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Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Part-I

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

Part-II

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

Part-III

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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Question 11b Chapter 4 – Unimax Publications of Class 11

The solution of Question 11b Chapter 4 – Unimax:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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