Question No 03 Chapter No 7 – USHA Publication 11 Class

Question No 03 Chapter No 7

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. 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

 

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 – Explained with Example

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Comment if you have any question.

Also, Check out the solved question of all Chapters: –

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Vouchers and transactions

Chapter No. 4 – Journal

Chapter No. 5 – Ledger

Chapter No. 6 – Cash Book

Chapter No. 7 – Other Subsidiary Books

Chapter No. 8 – Journal Proper

Chapter No. 9 – Trial Balance 

Chapter No. 10 – Bank Reconciliation Statement

Chapter No. 11 – Depreciation

Chapter No. 12 – Provisions and Reserves 

Chapter No. 13 – Bills of Exchange

Chapter No. 14 – Rectification of Errors 

Chapter No. 15 – Financial Statements – (Without Adjustments)

Chapter No. 16 – Financial Statements – (With Adjustments)

 

 

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