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Question No 05 Chapter No 7 – USHA Publication 11 Class

Question No 05 Chapter No 7
Q-05 - CH-7 - USHA +1 Book 2020 - Solution

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Question No 05 Chapter No 7

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05. Record the following transaction in the journal of Pratistha, post them into ledger and balance:

2019 
Feb.1Received Rs 20,000on account of sale of goods Rs 25,000 from Sulekha Rs 5,000 as interest
Feb. 14Paid 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Feb. 27Cash is withdrawn from bank Rs 22,800, additional capital introduced Rs 12,200 and borrowed Rs 30,000 from Sugandha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: –

 
DateParticulars
L.F.DebitCredit
2018     
Feb.1CashA/cDr. 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.14Parvesh A/cDr. 25,000 
 Rent A/cDr. 18,000 
 Interest on loan A/cDr. 4,000 
 To Cash A/c  47,000
 (Being cash paid to Parvesh, for rent and interest on the loan)   
     
Feb.27Cash A/cDr. 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/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Feb. 1To Sale A/c 20,000Feb. 14By Parvesh A/c 25,000
Feb. 1To Sulekha A/c 25,000Feb. 14By Rent A/c 18,000
Feb. 1To Interest A/c 5,000Feb. 14By Interest on loan A/c 4,000
Feb. 27To Bank A/c 22,800    
Feb. 27To Capital A/c 12,200    
Feb. 27To Sugandha’s loan A/c 30,000    
    Feb. 28By Balance c/d 68,000
   1,15,000   1,15,000

 

Dr.Sale A/c
Cr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
    Feb. 1By Cash A/c 20,000
Feb. 28To Balance C/d 20,000    
   20,000   20,000

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Dr.Sulekha A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Feb. 28To Balance C/d 25,000Feb. 1By Cash A/c 25,000
   25,000   25,000

 

Dr.Interest A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Feb. 28To Balance C/d 5,000Feb. 1By Cash A/c 5,000
   5,000   5,000

 

Dr.Parvesh A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Feb. 14To Cash A/c 25,000    
    Feb. 28By Balance c/d 25,000
   25,000   25,000

 

Dr.Rent A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Feb. 14To Cash A/c 18,000    
    Feb. 28By Balance c/d 18,000
   18,000   18,000

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Dr.Interest on loan A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Feb. 14To Cash A/c 4,000    
    Feb. 14By Balance C/d 4,000
   4,000   4,000

 

Dr.Bank A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Feb. 28To Balance C/d 22,800Feb. 27By Cash A/c 22,800
   22,800   22,800

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Dr.Capital A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Feb. 28To Balance C/d 12,200Feb. 27By Cash A/c 12,200
   12,200   12,200

 

Dr.Sugandha’s Loan A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Feb. 28To Balance C/d 30,000Feb. 1By Cash A/c 30,000
   30,000   30,000

 

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

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. 5 – Journal

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

Chapter No. 7 – Ledger

Chapter No. 8 – Cash Book

Chapter No. 9 – Other Subsidiary Books

Chapter No. 10 – Journal Proper

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Chapter No. 11 – Trial Balance

Chapter No. 12 – Bank Reconciliation Statement

Chapter No. 13 – Depreciation

Chapter No. 14 – Provisions and Reserves 

Chapter No. 15 – Bills of Exchange

Chapter No. 16 – Rectification of Errors 

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

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

 

 

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