Question 46 Chapter 4 – Unimax Publications of Class 11

Q46 - CH-4 Solution

Question 46 Chapter 4 – Unimax

Free Accounting book Solution - Class 11 and Class 12

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  (Being cash withdrawn by proprietor for personal use)        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 

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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