Question 47 Chapter 4 - Unimax Publications of Class 11

Question 47 Chapter 4 – Unimax

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The solution of Question 47 Chapter 4 – Unimax:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

47. Journalise the following transaction in the books of Parkash.
2021
Nov. 1 Purchased furniture worth Rs. 16,000 and tools worth Rs. 4,000
Nov. 2 Prakash borrowed Rs. 70,000 from his friend Manav and Rs. 35,000 from his brother Nikhil
Nov. 4 Banked (cash sent to bank) Rs. 80,000
Nov. 7 Withdrawn from bank by Prakash for personal use Rs. 10,000
Nov. 11 Withdrawn from bank Rs. 20,000
Nov. 17 Borrowed from bank Rs. 40,000
Nov. 19 Bought shares in X Ltd. For Rs. 25,000 and brokerage paid@ 29%. All payment is made by Cheque
Nov. 28 Paid electricity bill Rs. 1,800 and miscellaneous expenses Rs. 120
Nov. 30 Salaries unpaid Rs. 14,000 and rent due to land-lord Rs. 2,400.

The solution of Question 47 Chapter 4 – Unimax:

JOURNAL

Date	Particulars		L.F.	Debit	Credit
2021
Nov. 1	Furniture A/c	Dr.		16,000
	Tools A/c			4,000
	To Cash A/c				20,000
	(Being furniture and tools purchased)

Nov. 2	Cash A/c	Dr.		1,05,000
	To Manav’s Loan A/c				70,000
	To Nikhil’s Loan A/c				35,000
	(Being money borrowed from Manav and Nikhil)

Nov. 4	Bank A/c	Dr.		80,000
	To Cash A/c				80,000
	(Being cash sent to Bank)

Nov. 7	Drawings A/c	Dr.		10,000
	To Bank A/c				10,000
	(Being withdrawals made from bank for personal use)

Nov. 11	Cash A/c	Dr.		20,000
	To Bank A/c				20,000
	(Being cash withdrawn from Bank)

Nov. 17	Cash A/c	Dr.		40,000
	To Bank Loan A/c				40,000
	(Being cash borrowed from Bank)

Nov. 19	Investment in shares A/c	Dr.		25,500
	To Bank A/c				25,500
	(Being cash paid for purchasing shares in X Ltd. And Brokerage paid)

Nov. 28	Electricity expenses A/c	Dr.		1,800
	Misc. expenses A/c	Dr.		120
	To Cash A/c				1,920
	(Being electricity bill and miscellaneous expenses paid)

Nov. 30	Salaries A/c	Dr.		14,000
	To outstanding salaries A/c				14,000
	(Being salaries are unpaid)

Nov. 30	Rent A/c	Dr.		2,400
	To outstanding rent A/c				2,400
	(Being rent due to landlord)

This is all about the Question 47 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 47 Chapter 4 – Unimax Publications of Class 11

The solution of Question 47 Chapter 4 – Unimax:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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