Question 45 Chapter 4 – Unimax Publications of Class 11

Q45 - CH-4 Solution

Question 45 Chapter 4 – Unimax

Free Accounting book Solution - Class 11 and Class 12

45. Journalise
(a) Purchased a machinery for cash Rs. 60,000 and paid Rs. 5,000 in cash as wages on its installation, goods for Rs. 3,000 were also used from business on its installation.
(b) Manpreet who owed us Rs. 20,000 is declared insolvent and 60 paise in a rupee is received as final Dividend from his estate.
(c)Purchased an old machinery for Rs. 60,000 and spent Rs. 2,000 on its carriage and Rs. 5,000 on its Immediate repairs.
(d)Sold goods costing Rs. 4,000 to Harmeet and issued. Invoice at 10% above cost less 5% trade Discount.
(e) Bricks for Rs. 60,000 and timber for Rs. 35,000 purchased for the construction of building. The payment was made by cheque.
(f) Paid Rs. 4,000 as Income Tax and Rs. 1,500 as sales tax.
(g) Goods sold for cash to customers for Rs. 2,000 and collected 7% sales tax on it.
(h) Received on order for goods for Rs. 3,000. From Manoj and received Rs. 2,500 as advance
(i) Paid cash to X on behalf of Y Rs. 2,400
(j)Paid for owner’s life insurance premium Rs. 1,200

The solution of Question 45 Chapter 4 – Unimax:

JOURNAL

Date Particulars   L.F. Debit Credit
           
(a) Machinery A/c Dr.   68,000  
  To Cash A/c       68,000
  To Purchases A/c        
  (Being machinery purchased for cash and installation charges paid, goods also used in it)        
           
(b) Cash A/c Dr.   12,000  
  Bad debts A/c Dr.   8,000  
  To Manpreet’s A/c       20,000
  (Being Manpreet declared insolvent and 60 paise in a Rupee received from him)        
           
(c) Machinery A/c Dr.   67,000  
  To Cash A/c       67,000
  (Being old machinery purchased for cash and carriage and immediate repairs made)        
           
(d) Harmeet’s A/c Dr.   4,180  
  To Sales A/c       4,180
  (Being goods sold to Harmeet invoice at 10% above cost deducting trade discount @ 5%)        
           
(e) Building A/c Dr.   95,000  
  To Bank       95,000
  (Being timber and bricks used for construction of building)        
           
(f) Drawings A/c Dr.   4,000  
  Sales Tax A/c Dr.   1,500  
  To Cash A/c       5,500
  (Being income tax and sales tax paid)        
           
(g) Cash A/c Dr.   2,140  
  To Sales A/c       2,140
  To Sales Tax A/c        
  (Being goods used for cash and sales tax collected from customers on it)        
           
(h) Machinery A/c Dr.   2,500  
  To Manoj A/c       2,500
  (Being cash received from Manoj as advance for supply of goods)        
           
(i)  Y’s A/c Dr.   2,400  
  To Cash A/c       2,400
  (Being cash paid to X on behalf of Y)        
           
(j) Drawings A/c Dr.   1,200  
  To Cash A/c       1,200
  (Being owner’s life insurance premium paid)      

This is all about the Question 45 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

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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

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