Question 45 Chapter 4 – Unimax
(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:
|To Cash A/c||68,000|
|To Purchases A/c|
|(Being machinery purchased for cash and installation charges paid, goods also used in it)|
|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)|
|To Cash A/c||67,000|
|(Being old machinery purchased for cash and carriage and immediate repairs made)|
|To Sales A/c||4,180|
|(Being goods sold to Harmeet invoice at 10% above cost deducting trade discount @ 5%)|
|(Being timber and bricks used for construction of building)|
|Sales Tax A/c||Dr.||1,500|
|To Cash A/c||5,500|
|(Being income tax and sales tax paid)|
|To Sales A/c||2,140|
|To Sales Tax A/c|
|(Being goods used for cash and sales tax collected from customers on it)|
|To Manoj A/c||2,500|
|(Being cash received from Manoj as advance for supply of goods)|
|To Cash A/c||2,400|
|(Being cash paid to X on behalf of Y)|
|To Cash A/c||1,200|
|(Being owner’s life insurance premium paid)|
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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
You can also Check out the other Books’ Solution: –
- Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution
- T.S. Grewal’s Double Entry Book Keeping (Class +1) – Solution
- D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution