Question 48 Chapter 4 – Unimax Publications of Class 11

Q47 - CH-4 Solution

Question 48 Chapter 4 – Unimax

Free Accounting book Solution - Class 11 and Class 12

48. Journalise the following transactions in the books of Mahesh.
2021
Dec.1 Mahesh invested Rs. 2,50,000 in business of general store
Dec. 3 Paid into current account Rs. 1,10,000
Dec. 5 Purchased goods for Rs. 50,000 and paid Rs. 2,000 for carriage on these goods.
Dec. 6 Purchased goods for Rs. 75,000 from Ramesh and paid Rs. 1,400 for carriage on these goods.
Dec.10 Purchased machinery for Rs. 12,000 and spent Rs. 200 for its carriage.
Dec. 11 Received an order of goods for Rs. 1,40,000 from Madhav
Dec. 14 Payment made to Ramesh by cheque after getting 10% discount for prompt payment
Dec. 20 Additional cash introduced by proprietor Rs. 40,000
Dec. 16 Madhav’s order was executed and cartage Rs. 400 was paid in this connection
Dec. 24 Purchased goods from Rohan for Rs. 30,000 and the payment was made by cheque

The solution of Question 48 Chapter 4 – Unimax:

JOURNAL OF MAHESHI

Date Particulars   L.F. Debit Credit
2021          
Dec. 1 Cash A/c Dr.   2,50,000  
  To Capital A/c       2,50,000
  (Being cash introduced as capital and business started)        
           
Dec. 3 Bank A/c Dr.   1,10,000  
  To Cash A/c       1,10,000
  (Being cash paid into bank)        
           
Dec. 5 Purchases A/c Dr.   50,000  
  Carriage A/c     2,000  
  To Cash A/c       52,000
  (Being goods purchased and carriage paid for cash)        
           
Dec. 6  Purchases A/c Dr.   75,000  
  To Ramesh’s A/c       75,000
  (Being goods purchased from Ramesh)        
           
Dec. 6  Carriage A/c Dr.   1,400  
  To Cash A/c       1,400
  (Being carriage paid on goods purchased from Ramesh)        
           
Dec. 10 Sales Returns A/c Dr.   12,200  
  To Cash A/c       12,200
  (Being machinery purchased and carriage paid)        
           
Dec. 14 Machinery A/c Dr.   75,000  
  To Cash A/c       67,500
  To Discount A/c       7,500
  (Being payment made to Ramesh and discount received)        
           
Dec. 16 Madhav A/c Dr.   1,40,000  
  To Sales A/c       1,40,000
  (Being goods sold to Madhav)        
           
Dec. 16 Carriage outwards A/c Dr.   400  
  To Cash A/c       400
  (Being cartage paid in connection with goods sold)        
           
Dec. 20 Cash A/c Dr.   40,000  
  To Capital A/c       40,000
  (Being further cash introduced by proprietor)        
           
Dec. 24 Purchases A/c Dr.   30,000  
  To Bank A/c       30,000
  (Being goods purchased and payment made by cheque)        

This is all about the Question 48 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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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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