Question No 05 Chapter No 9 – D.K Goal 11 Class

Question No 05 Chapter No 9

Question No 05 Chapter No 9

03.Following balances appeared in the books of Ram & Shyam on January 1, 2017 :−
Assets : Cash in hand 30,000; Stock 36,000; Lal Chand 7,600; Mukesh Khanna 16,200; Furniture 8,000.
Liabilities : Ghanshyam 6,000; Vinod 8,000.
Following transactions took place during Jan. 2018:−

2020   Rs
May.1 Opening Balance (Dr.) 8,600
May.12 Sold goods to him  40,000
May.14 Goods returned by him 1,000
May.16 Received cash from him 10,000
May.20 Received a cheque from him  15,000
  Discount allowed to him 300

CGST & SGST and levied @6% each

The solution of Question No 05 Chapter No 9: –

In the Books of Radhika Traders
Date Particulars
L.F. Debit Credit
2019          
May.12 Ram A/c Dr.   44,800  
  To Sales A/c       40,000
  To Output CGST A/c       2,400
  To Output SGST A/c       2,400
  (Being Goods sold to Ram plus 9% CGST & SGST)      
           
May.14 Sale Return A/c Dr.   1,000  
  Output CGST A/c Dr.   60  
  Output SGST A/c Dr.   60  
  To Ram A/c     1,120
  (Being goods return by Ram plus 6% CGST & SGST)      
         
May.16 Cash A/c Dr.   10,000  
  To Ram A/c       10,000
  (Being cash received from Ram)        
           
May.20 Bank A/c Dr.   15,000  
  Discount Allowed A/c Dr.   300  
  To Ram A/c       15,300
  (Being cheque from ram)        
         

 

Dr. Cash A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
May. 1 To Balance c/d   8,600 May. 14 By Sale Return A/c   1,000
May.12 To Sale. A/c   40,000 May. 14 By Output CGST A/c   60
May.12 To Output CGST A/c   2,400 May. 14 By Output SGST A/c   60
May.12 To Output SGST A/c   2,400 May. 16 By Cash A/c   10,000
        May.20 By Bank A/c   15,000
        May.20 By Discount allowed A/c   300
        May. 31 By Balance c/d   26,980
      53,400       53,400

The amount Dr. Balance Rs 126,980 indicates that this amount is owing from him

What is Ledger in accounting – explain its Types

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