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Question No 03 Chapter No 7 – USHA Publication 11 Class

Question No 03 Chapter No 7
Q-03 - CH-7 - USHA +1 Book 2020 - Solution

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Question No 03 Chapter No 7

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03. Record the following transaction in the journal, post them into the ledger and find out the balance of all account

2017`
Jan.1Purchased goods from Naveen Rs 18,000
Jan.4Sold goods for Rs 22,000
Jan.7Goods destroyed by fire Rs 2,500
Jan.10Furniture purchased from Manisha Rs 25,000
Jan. 15Rent paid in cash Rs 3,500
Jan. 30Cash deposited into bank Rs 4,500

The solution of Question No 03 Chapter No 7: –

 
DateParticulars
L.F.DebitCredit
2018     
Jan.1Purchased A/cDr. 18,000 
 To Naveen A/c   18,000
 (Being goods purchased from Naveen)   
     
Jan.4Cash A/cDr. 22,000 
 To Sale A/c  22,000
 (Being goods sold for Cash)   
     
Jan.7Loss by fire A/cDr. 2,500 
 To Purchases A/c  2,500
 (Being goods destroyed by fire)   
     
Jan.10Furniture A/cDr. 25,000 
 To Manisha A/c  25,000
 (Being furniture purchased on credit)   
     
Jan.15Rent A/cDr. 3,500 
 To Cash A/c  3,500
 (Being rent paid in cash)   
     
Jan.30Bank A/cDr. 4,500 
 To Cash A/c  4,500
 (Being cash deposited into a bank)   
     

 

Dr.Purchases A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Jan. 1To Naveen A/c 18,000Jan. 7By Loss by Fire A/c 2,500
    Feb. 28By Balance c/d 15,500
   18,000   18,000

 

Dr.Naveen A/c
Cr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
    Feb. 1By Purchases A/c 18,000
Feb. 28To Balance C/d 18,000    
   18,000   18,000

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Dr.Cash A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Jan. 4To Sale A/c 22,000Jan. 15By Rent A/c 3,500
    Jan. 30By Bank A/c 4,500
    Jan. 31By Balance C/d 14,000
   22,000   22,000

 

Dr.Sale A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
    Jan. 4By Cash A/c 22,000
Jan. 31To Balance C/d 22,000    
   22,000   22,000

 

Dr.Loss by fire A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Jan. 7To Purchases A/c 2,500    
    Jan. 31By Balance C/d 2,500
   2,500   2,500

 

Dr.Furniture A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Jan. 10To Manisha A/c 25,000    
    Jan. 31By Balance C/d 25,000
   25,000   25,000

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Dr.Rent A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Jan. 7To Cash A/c 3,500    
    Jan. 31By Balance C/d 3,500
   3,500   3,500

 

Dr.Manisha A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
    Jan. 4By Furniture A/c 25,000
Jan. 31To Balance C/d 25,000    
   25,000   25,000

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Dr.Bank A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Jan. 30To Cash A/c 4,500    
    Jan. 31By 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. 1 – Introduction

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Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Origin of Transactions

Chapter No. 4 – Vouchers and transactions

Chapter No. 5 – Journal

Chapter No. 6 – Accounting for Goods and Services Tax(GST)

Chapter No. 7 – Ledger

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Chapter No. 8 – Cash Book

Chapter No. 9 – Other Subsidiary Books

Chapter No. 10 – Journal Proper

Chapter No. 11 – Trial Balance

Chapter No. 12 – Bank Reconciliation Statement

Chapter No. 13 – Depreciation

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Chapter No. 14 – Provisions and Reserves 

Chapter No. 15 – Bills of Exchange

Chapter No. 16 – Rectification of Errors 

Chapter No. 17 – Financial Statements – (Without Adjustments)

Chapter No. 18 – Financial Statements – (With Adjustments)

 

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