Question No 05 Chapter No 10 – USHA Publication 11 Class

Question No 05 Chapter No 10

Question No 05 Chapter No 10

Opening Entry

5. From the following trial balance of Bhardwaj Electrical as on 31st March 2017 pass the closing entries:

Ledger A/c (Dr)Rs Ledger A/c (Cr)Rs
Purchases (net) 2,10,000 Sale 2,7,0000
Carriage inward 4,000 Capital 2,99,000
Excise duty 6,000 Creditors 60,000
Stock (1.4.2016) 32,000 Salaries outstanding 15,000
Machinery 3,00,000 Interest on deposits 1,500
Deprecation on machinery 24,000 Commission received 2,500
Salaries 35,000    
Advertisement 16,000    
Interest on loan 2,300    
Bank balance 8,700    
Drawing 10,000    
  6,48,000   6,48,000

 

The solution of Question No 05 Chapter No 10: –

 

In the Books of Deepti Walia
Date Particulars
L.F. Debit Credit
2019          
Mar.31 Trading A/c Dr.   2,52,000  
  To opening Stock A/c       32,000
  To Purchases A/c       2,10,000
  To Carriage inward A/c       4,000
  To Excise Duty A/c       6,000
  (Being the direct expenses charged to Trading A/c)      
         
Mar.31 Sale A/c Dr.   2,70,000  
  Closing Stock A/c Dr.   55,000  
  To Trading A/c     3,25,000
  (Being Sale and closing stock transferred to Trading A/c)      
         
Mar.31 Profit & Loss A/c Dr.   77,300  
  To Deprecation A/c     24,000
  To Salaries A/c     35,000
  To Advertisement A/c     16,000
  To Interest on loan A/c     2,300
  (Being indirect expenses charged to P&L A/c)      
         
Mar.31 Interest on Deposited A/c Dr.   1,500  
  Commission received A/c Dr.   2,500  
  To Profit & Loss A/c     3,000
  (Being income credited to P&L A/c)      
         
Mar.31 Capital A/c Dr.   300  
  To Profit and loss A/c     300
  (Being loss transferred to capital A/c)      
         
Mar.31 Capital A/c Dr.   10,000  
  To Drawing A/c     10,000
  (Being drawing transfer to capital A/c)      
         
         

 

Journal Proper | Subsidiary Books | Examples

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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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