Question 46 Chapter 4 - Unimax Publications of Class 11

Question 46 Chapter 4 – Unimax

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The solution of Question 46 Chapter 4 – Unimax:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

46. Pass journal entries in the books of Vasudev from the following transactions.
2021
July 1 Vasudev started business with cash Rs. 90,000, goods Rs. 60,000 and furniture
Rs. 25,000
July 2 Sold goods to Raghav of the list price of Rs. 30,000 at trade discount of 10%
July 3 Raghav returned goods of the list price of Rs. 6,000.
July 9 Received Rs. 21,200 from Raghav in full settlement of his account.
July 11 Purchased goods from Madhav of the list price of Rs. 20,000 at 5% trade discount
July 14 Returned goods to Madhav of the list price of Rs. 8,000
July 17 Settled the account of Madhav by paying cash, under a discount of 4%
July 24 Bought of table-fan for Rs. 1,200 for domestic use of Vasudev.
July 27 Sold goods for cash of the list price of Rs. 28,000 at 10% trade discount and 4% cash
Discount.
July 31 Paid Rent Rs. 650, Trade expenses Rs. 400 and Travelling expenses Rs. 370.

The solution of Question 46 Chapter 4 – Unimax:

JOURNAL OF VASUDEV

Date	Particulars		L.F.	Debit	Credit
2021
July 1	Cash A/c	Dr.		90,000
	Stock A/c			60,000
	Furniture A/c			25,000
	To Capital A/c				1,75,000
	(Being business started with cash stock and furniture)

July 2	Raghav’s A/c	Dr.		27,000
	To Sales A/c				27,000
	(Being goods used to Raghav less trade discount)

July 5	Sales returns A/c	Dr.		5,400
	To Raghav’s A/c				5,400
	(Being goods returned by Raghav)

July 9	Cash A/c	Dr.		21,200
	Discount A/c			400
	To Raghav’s A/c				21,600
	(Being cash received and discount allowed to Raghav)

July 11	Purchases A/c	Dr.		19,000
	To Madhav A/c				19,000
	(Being goods purchased from Madhav)

July 14	Madhav A/c	Dr.		7,600
	To Purchases Returns A/c				7,600
	(Being goods returned to Madhav)

July 17	Madhav A/c	Dr.		11,400
	To Cash A/c				10,944
	To Discount received A/c				450
	(Being cash paid and discount received from Madhav)

July 24	Drawings A/c	Dr.		1,200
	To Cash A/c				1,200
	(Being cash withdrawn by proprietor for personal use)

July 27	Cash A/c	Dr.		24,192
	Discount A/c			1,008
	To sales A/c				25,200
	(Being goods sold for cash & discount allowed )

July 31	Rent A/c	Dr.		650
	Trade Expenses A/c	Dr.		400
	Travelling Expenses A/c	Dr.		370
	To Cash A/c				1,700
	(Being goods sold for cash & discount allowed )

This is all about the Question 46 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 46 Chapter 4 – Unimax Publications of Class 11

The solution of Question 46 Chapter 4 – Unimax:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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