Question No 05 Chapter No 7
05. Record the following transaction in the journal of Pratistha, post them into ledger and balance:
| 2019 | |
| Feb.1 | Received Rs 20,000on account of sale of goods Rs 25,000 from Sulekha Rs 5,000 as interest |
| Feb. 14 | Paid Rs 25,000 to Parvesh on account of goods purchased last year, Rs 2,000 p.m. as rent to the landlord for 9 months and interest on loan @6% p.a. on Rs 1,00,000 for 8 months |
| Feb. 27 | Cash is withdrawn from bank Rs 22,800, additional capital introduced Rs 12,200 and borrowed Rs 30,000 from Sugandha |
The solution of Question No 05 Chapter No 7: –
| Date | Particulars |
L.F. | Debit | Credit | |
| 2018 | |||||
| Feb.1 | CashA/c | Dr. | 50,000 | ||
| To Sale A/c | 20,000 | ||||
| To Sulekha A/c | 25,000 | ||||
| To Interest A/c | 5,000 | ||||
| (Being goods sold for cash and received from Sulekha and interest) | |||||
| Feb.14 | Parvesh A/c | Dr. | 25,000 | ||
| Rent A/c | Dr. | 18,000 | |||
| Interest on loan A/c | Dr. | 4,000 | |||
| To Cash A/c | 47,000 | ||||
| (Being cash paid to Parvesh, for rent and interest on the loan) | |||||
| Feb.27 | Cash A/c | Dr. | 65,000 | ||
| To Bank A/c | 22,800 | ||||
| To Capital A/c | 12,200 | ||||
| To Sugandha’s Loan A/c | 30,000 | ||||
| (Being cash received from bank, proprietor and Sugandha’s loan) | |||||
| Dr. | Cash A/c | Cr. | |||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
| 2018 | 2018 | ||||||
| Feb. 1 | To Sale A/c | 20,000 | Feb. 14 | By Parvesh A/c | 25,000 | ||
| Feb. 1 | To Sulekha A/c | 25,000 | Feb. 14 | By Rent A/c | 18,000 | ||
| Feb. 1 | To Interest A/c | 5,000 | Feb. 14 | By Interest on loan A/c | 4,000 | ||
| Feb. 27 | To Bank A/c | 22,800 | |||||
| Feb. 27 | To Capital A/c | 12,200 | |||||
| Feb. 27 | To Sugandha’s loan A/c | 30,000 | |||||
| Feb. 28 | By Balance c/d | 68,000 | |||||
| 1,15,000 | 1,15,000 | ||||||
| Dr. | Sale A/c |
Cr. | |||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
| 2018 | 2018 | ||||||
| Feb. 1 | By Cash A/c | 20,000 | |||||
| Feb. 28 | To Balance C/d | 20,000 | |||||
| 20,000 | 20,000 | ||||||
| Dr. | Sulekha A/c | Cr. | |||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
| 2018 | 2018 | ||||||
| Feb. 28 | To Balance C/d | 25,000 | Feb. 1 | By Cash A/c | 25,000 | ||
| 25,000 | 25,000 | ||||||
| Dr. | Interest A/c | Cr. | |||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
| 2018 | 2018 | ||||||
| Feb. 28 | To Balance C/d | 5,000 | Feb. 1 | By Cash A/c | 5,000 | ||
| 5,000 | 5,000 | ||||||
| Dr. | Parvesh A/c | Cr. | |||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
| 2018 | 2018 | ||||||
| Feb. 14 | To Cash A/c | 25,000 | |||||
| Feb. 28 | 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 | ||||||
| Feb. 14 | To Cash A/c | 18,000 | |||||
| Feb. 28 | By Balance c/d | 18,000 | |||||
| 18,000 | 18,000 | ||||||
| Dr. | Interest on loan A/c | Cr. | |||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
| 2018 | 2018 | ||||||
| Feb. 14 | To Cash A/c | 4,000 | |||||
| Feb. 14 | By Balance C/d | 4,000 | |||||
| 4,000 | 4,000 | ||||||
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| Dr. | Bank A/c | Cr. | |||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
| 2018 | 2018 | ||||||
| Feb. 28 | To Balance C/d | 22,800 | Feb. 27 | By Cash A/c | 22,800 | ||
| 22,800 | 22,800 | ||||||
| Dr. | Capital A/c | Cr. | |||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
| 2018 | 2018 | ||||||
| Feb. 28 | To Balance C/d | 12,200 | Feb. 27 | By Cash A/c | 12,200 | ||
| 12,200 | 12,200 | ||||||
| Dr. | Sugandha’s Loan A/c | Cr. | |||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
| 2018 | 2018 | ||||||
| Feb. 28 | To Balance C/d | 30,000 | Feb. 1 | By Cash A/c | 30,000 | ||
| 30,000 | 30,000 | ||||||
What is Ledger in accounting – explain its Types
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Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution
Chapter No. 2 – Theory Base of Accounting
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Chapter No. 3 – Origin of Transactions
Chapter No. 4 – Vouchers and transactions
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
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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)