Question No 01 Chapter No 9

Question No 01 Chapter No 9

01. Journalise the following transaction, post them into Ledger, Balance the accounts and prepare a Trial Balance.

2018 Rs
Mar.1Shyam Sunder & Sons commenced business with cash80,000
Mar.2Purchased goods for cash36,000
Mar.3Machinery purchased for cash4,000
Mar.4Purchased goods from : Raghu22,000
 Dilip30,000
Mar.6Returned goods to Raghu4,000
Mar.8Paid to Raghu, in full settlement of his account17,500
Mar.10Sold goods to Mahesh Chand & Co. for 32,000 at 5% trade discount 
Mar.13Received cash from Mahesh Chand & Co.19,800
 Discount allowed200
Mar. 15Paid cash to Dilip14,850
 Discount received150
Mar.20Sold goods for cash25,000
Mar.24Sold goods for cash to Sudhir Ltd18,000
Mar.15Paid for Rent1,500
Mar.16Received for Commission2,000
Mar.28Withdrew by Proprietor for his personal use5,000
Mar.28Purchased a fan for Proprietor’s house1,200

The solution of Question No 01 Chapter No 9: –

In the Books of Radhika Traders
DateParticulars
L.F.DebitCredit
2019     
Mar.1Cash A/cDr. 80,000 
 To Capital A/c   80,000
 (Being business started with cash)   
      
Mar.2Purchases A/cDr. 36,000 
 To Cash A/c  36,000
 (Being Goods purchased for cash)   
     
Mar.3Machinery A/cDr. 80,000 
 To Cash A/c   80,000
 (Being Machinery purchased for cash)    
      
Mar.4Purchases A/cDr. 52,000 
 To Raghu’s A/c   22,000
 To Dilip’s A/c   30,000
 (Being Goods purchased on credit from Raghu and Dilip)    
      
Mar.6Raghu’s A/cDr. 4,000 
 To Purchases Return A/c   4,000
 (Being Goods returned to Raghu)    
      
Mar.8Raghu’s A/cDr. 18,000 
 To Cash A/c   17,500
 To Discount Received A/c   500
 (Being Cash paid to Raghu in full settlement)    
      
Mar.10Mahesh Chand & CoDr. 30,400 
 To Sale A/c   30,400
 (Being Goods sold to Mahesh Chand & Co. at trade discount)    
      
Mar.13Cash A/cDr. 19,800 
 Discount Allowed A/cDr. 200 
 To Mahesh Chand & Co.   20,000
 (Being Cash received from Mahesh Chand & Co.)    
      
Mar.15Dilip’s A/cDr. 15,000 
 To Cash A/c   14,850
 To Discount Received A/c   150
 (Being Cash paid to Dilip)    
      
Mar.20Cash A/cDr. 25,000 
 To Sales A/c   25,000
 (Being Goods sold for cash)    
      
Mar.24Cash A/cDr. 18,000 
 To Sale A/c   18,000
 (Being Goods sold for cash)    
      
Mar.25Rent A/cDr. 1,500 
 To Cash A/c   1,500
 (Being Rent paid.)    
      
Mar.26Cash A/cDr. 2,000 
 To Commission A/c   2,000
 (Being Commission received)    
      
Mar.28Drawings A/cDr. 6,200 
 To Cash A/c   6,200
 (Being Cash withdrawn and fan purchased for personal use)    
     

 

Dr.Cash A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Mar. 1To Capital A/c 80,000Mar. 2By Purchases A/c 36,000
Mar.13To Mahesh Chand & Co. A/c 19,800Mar.3By Machinery A/c 4,000
Mar.20To Sales A/c 25,000Mar.8By Raghu’s A/c 17,500
Mar.24To Sales A/c 18,000Mar.15To Dilip’s A/c 14,850
Mar.26To Commission A/c 2,000Mar.25To Rent A/c 1,500
    Mar.28By Drawings A/c 6,200
    Mar. 31By Balance c/d 64,750
   1,44,800   1,44,800
Dr.Capital A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
    Mar. 1By Cash A/c 80,000
Mar. 31To Balance c/d 80,000    
   80,000   80,000
Dr.Purchases A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Mar. 1To Cash A/c 36,000    
Mar.13To Raghu’s A/c 22,000    
Mar.20To Dilip’s A/c 30,000    
        
    Mar. 31By Balance c/d 88,000
   88,000   88,000
Dr.Machinery A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Mar.3To Cash A/c 4,000    
        
    Mar. 31By Balance c/d 4,000
   4,000   4,000
Dr.Raghu’s A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Mar.6To Purchases Return A/c 4,000Mar.4By Purchases A/c 22,000
Mar.8To Cash A/c 17,500    
Mar.8To Discount Received A/c 500    
        
        
   22,000   22,000
Dr.Dilip’s A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Mar.15To Purchases Return A/c 14,850Mar.4By Purchases A/c 30,000
Mar.15To Cash A/c 150    
        
Mar.31To Balance c/d 15,000    
   30,000   30,000
Dr.Purchases Return  A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
    Mar.6By Raghu’s A/c 4,000
        
Mar.31To Balance c/d 4,000    
   4,000   4,000
Dr.Discount Allowed A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Mar.13To Mahesh Chand & Co A/c 200    
        
    Mar. 31By Balance c/d 200
   200   200
Dr.Discount Received A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
    Mar.8By Raghu’s A/c 500
    Mar.15By Dilip’s A/c 150
Mar.31To Balance c/d 650    
   650   650
Dr.Mahesh Chand & Co A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Mar.10To Sales A/c 30,400Mar.13By Cash A/c 19,800
    Mar.13By Discount
Allowed A/c
 200
    Mar. 31By Balance c/d 10,400
   30,400   30,400
Dr.Rent A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Mar.25To Cash A/c 1,500    
        
    Mar. 31By Balance c/d 1,500
   1,500   1,500
Dr.Commission A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
    Mar.26By Cash A/c 2,000
Mar.31To Balance c/d 2,000    
   2,000   2,000
Dr.DrawingsA/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Mar.28To Cash A/c 6,200    
        
    Mar. 31By Balance c/d 6,200
   6,200   6,200
Dr.Sales A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
    Mar.10By Mahesh Chand & Co A/c 30,400
    Mar.20By Cash A/c 25,000
    Mar.24By Cash A/c 18,000
Mar.31To Balance c/d 73,400    
   73,400   73,400
Trail Balance A/c
Particulars
J.F.DebitCredit
Cash A/c 64,750 
Capital A/c  80,000
Purchases A/c 88,000 
Machinery A/c 4,000 
Dilip’s A/c  15,000
Purchases Return A/c  4,000
Discount Received A/c  650
Discount Allowed A/c 200 
Mahesh Chand & Co. A/c 10,400 
Rent A/c 1,500 
Commission A/c  2,000
Drawings A/c 6,200 
Sales A/c  73,400
  1,75,0501,75,050

What is Ledger in accounting – explain its Types

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