Question No 03 Chapter No 7
03. Record the following transaction in the journal, post them into the ledger and find out the balance of all account
| 2017 | ` |
| Jan.1 | Purchased goods from Naveen Rs 18,000 |
| Jan.4 | Sold goods for Rs 22,000 |
| Jan.7 | Goods destroyed by fire Rs 2,500 |
| Jan.10 | Furniture purchased from Manisha Rs 25,000 |
| Jan. 15 | Rent paid in cash Rs 3,500 |
| Jan. 30 | Cash deposited into bank Rs 4,500 |
The solution of Question No 03 Chapter No 7: –
| Date | Particulars |
L.F. | Debit | Credit | |
| 2018 | |||||
| Jan.1 | Purchased A/c | Dr. | 18,000 | ||
| To Naveen A/c | 18,000 | ||||
| (Being goods purchased from Naveen) | |||||
| Jan.4 | Cash A/c | Dr. | 22,000 | ||
| To Sale A/c | 22,000 | ||||
| (Being goods sold for Cash) | |||||
| Jan.7 | Loss by fire A/c | Dr. | 2,500 | ||
| To Purchases A/c | 2,500 | ||||
| (Being goods destroyed by fire) | |||||
| Jan.10 | Furniture A/c | Dr. | 25,000 | ||
| To Manisha A/c | 25,000 | ||||
| (Being furniture purchased on credit) | |||||
| Jan.15 | Rent A/c | Dr. | 3,500 | ||
| To Cash A/c | 3,500 | ||||
| (Being rent paid in cash) | |||||
| Jan.30 | Bank A/c | Dr. | 4,500 | ||
| To Cash A/c | 4,500 | ||||
| (Being cash deposited into a bank) | |||||
| Dr. | Purchases A/c | Cr. | |||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
| 2018 | 2018 | ||||||
| Jan. 1 | To Naveen A/c | 18,000 | Jan. 7 | By Loss by Fire A/c | 2,500 | ||
| Feb. 28 | By Balance c/d | 15,500 | |||||
| 18,000 | 18,000 | ||||||
| Dr. | Naveen A/c |
Cr. | |||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
| 2018 | 2018 | ||||||
| Feb. 1 | By Purchases A/c | 18,000 | |||||
| Feb. 28 | To Balance C/d | 18,000 | |||||
| 18,000 | 18,000 | ||||||
| Dr. | Cash A/c | Cr. | |||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
| 2018 | 2018 | ||||||
| Jan. 4 | To Sale A/c | 22,000 | Jan. 15 | By Rent A/c | 3,500 | ||
| Jan. 30 | By Bank A/c | 4,500 | |||||
| Jan. 31 | By Balance C/d | 14,000 | |||||
| 22,000 | 22,000 | ||||||
| Dr. | Sale A/c | Cr. | |||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
| 2018 | 2018 | ||||||
| Jan. 4 | By Cash A/c | 22,000 | |||||
| Jan. 31 | To Balance C/d | 22,000 | |||||
| 22,000 | 22,000 | ||||||
| Dr. | Loss by fire A/c | Cr. | |||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
| 2018 | 2018 | ||||||
| Jan. 7 | To Purchases A/c | 2,500 | |||||
| Jan. 31 | By Balance C/d | 2,500 | |||||
| 2,500 | 2,500 | ||||||
| Dr. | Furniture A/c | Cr. | |||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
| 2018 | 2018 | ||||||
| Jan. 10 | To Manisha A/c | 25,000 | |||||
| Jan. 31 | By Balance C/d | 25,000 | |||||
| 25,000 | 25,000 | ||||||
| Dr. | Rent A/c | Cr. | |||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
| 2018 | 2018 | ||||||
| Jan. 7 | To Cash A/c | 3,500 | |||||
| Jan. 31 | By Balance C/d | 3,500 | |||||
| 3,500 | 3,500 | ||||||
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| Dr. | Manisha A/c | Cr. | |||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
| 2018 | 2018 | ||||||
| Jan. 4 | By Furniture A/c | 25,000 | |||||
| Jan. 31 | To Balance C/d | 25,000 | |||||
| 25,000 | 25,000 | ||||||
| Dr. | Bank A/c | Cr. | |||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
| 2018 | 2018 | ||||||
| Jan. 30 | To Cash A/c | 4,500 | |||||
| Jan. 31 | By Balance C/d | 4,500 | |||||
| 4,500 | 4,500 | ||||||
What is Ledger in accounting – explain its Types
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Also, Check out the solved question of all Chapters: –
Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution
Chapter No. 2 – Theory Base of Accounting
Chapter No. 3 – Origin of Transactions
Chapter No. 4 – Vouchers and transactions
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Chapter No. 6 – Accounting for Goods and Services Tax(GST)
Chapter No. 9 – Other Subsidiary Books
Chapter No. 10 – Journal Proper
Chapter No. 11 – Trial Balance
Chapter No. 12 – Bank Reconciliation Statement
Chapter No. 14 – Provisions and Reserves
Chapter No. 15 – Bills of Exchange
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Chapter No. 16 – Rectification of Errors
Chapter No. 17 – Financial Statements – (Without Adjustments)
Chapter No. 18 – Financial Statements – (With Adjustments)
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