Question 44 Chapter 4 – Unimax Publications of Class 11

Q44 - CH-4 Solution

Question 44 Chapter 4 – Unimax

Free Accounting book Solution - Class 11 and Class 12

44. Journalise the following transactions in the books of Rajat.
2021
March 1 Rajat started his business with Rs. 1,50,000 borrowed from his friend Sahil @ 10% p.a.
March 5 Purchased goods for Rs. 16,000
March 14 Received invoice from Varun and Sons and supplied these goods to Ankush listed Rs. 10,000
March 20 Ankush is declared insolvent and the amount 40 paise per rupee is received from him in full settlement.
March 24 Purchased goods for Rs. 1000 from Chadha and supplied it to Wadhva for Rs. 140 Wadhva returned goods worth Rs. 560 which in turn returned to Chadha.
March 26 Supplied goods for Rs. 600 to Raja for domestic use.
March 31 Rs. 1200 were paid to Rajeev, out of business funds for the repair of Rajat’s residential House.

The solution of Question 44 Chapter 4 – Unimax:

JOURNAL OF RAJAT

Date Particulars   L.F. Debit Credit
2021          
Mar. 1 Cash A/c Dr.   1,50,000  
  To Sahil’s Loan A/c       1,50,000
  (Being business started by cash borrowed from friend Sahil 10% p.a.)        
           
Mar. 5 Purchases A/c Dr.   16,000  
  To Cash A/c       16,000
  (Being goods purchased)        
           
Mar. 14 Purchases A/c Dr.   10,000  
  To Varun & Sons A/c       10,000
  (Being goods purchased from Varun & Sons)        
           
Mar. 14 Purchases A/c Dr.   10,000  
  To Sales A/c       10,000
  (Being goods sold to Ankush)        
           
Mar. 20 Cash A/c Dr.   4,000  
  Bad debts A/c Dr.   6,000  
  To Ankush’s A/c       10,000
  (Being Ankush declared insolvent and 40% amount Received on insolvency)        
           
Mar. 24 Purchases A/c Dr.   1,000  
  To Chadha’s A/c       1,000
  (Being goods purchased from Chadha)        
           
Mar. 24 Wadhwa’s A/c Dr.   19,000  
  To Sales A/c       19,000
  (Being goods sold to Wadhva)        
           
Mar. 24 Sales returns A/c Dr.   560  
  To Wadhwa’s A/c       560
  (Being goods returned by Wadhva)        
           
Mar. 24 Chadha’s A/c Dr.   400  
  To Purchases returns A/c       400
  (Being goods returned by Wadhva returned to Chadha)        
           
Mar. 26 Drawings A/c Dr.   600  
  To Purchases returns A/c       600
  (Being goods purchased used for domestic use by 600 Proprietor)        
           
Mar. 31 Drawings A/c Dr.   1,200  
  To Cash A/c       1,200
  (Being cash paid by proprietor for construction of his 1,200 Residential house)        

Working Note:

(i) Percentage of sales returns by Wadhva = 560 x 100 = 40%
1400
       
(ii) Purchases returns to Chadha =     40 % of 1,000
  40 X 1000 = Rs. 400
  100

This is all about the Question 44 Chapter 4 – Unimax. You can check out the following article to better understand:

Opening Journal Entry – its Rules and Examples 

You Can also read all above articles in Hindi on our Hindi Website

Opening Journal Entry – its Rules and Examples – In Hindi

Thanks, Please Like and share with your friends  

Comment if you have any doubt in the Question 44 Chapter 4 – Unimax.

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

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

You can also Check out the other Books’ Solution: –

 

Leave a Reply

Your email address will not be published.