Question 47 Chapter 4 – Unimax Publications of Class 11

Q47 - CH-4 Solution

Question 47 Chapter 4 – Unimax

Free Accounting book Solution - Class 11 and Class 12

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Nov. 7 Withdrawn from bank by Prakash for personal use Rs. 10,000
Nov. 11 Withdrawn from bank Rs. 20,000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:

BOOKS OF SHREY 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  (Being cash withdrawn from Bank)        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 

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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