Question No 07 Chapter No 7
07. On 1st April 2017 the position of Amrinder Singh was as follow
| Rs | Rs | ||
| Capital | 25,500 | Stock | 10,100 |
| Bills Payable | 2,500 | Machinery | 10,000 |
| Mrs A’s Loan | 4,500 | Furniture | 1,000 |
| Bank | 4,400 | ||
| Bills receivable | 2,000 | ||
| Patent right | 5,000 |
The solution of Question No 07 Chapter No 7: –
| Date | Particulars |
L.F. | Debit | Credit | |
| 2017 | |||||
| Apr.1 | Stock A/c | Dr. | 10,100 | ||
| Machinery A/c | Dr. | 10,000 | |||
| Furniture A/c | Dr. | 1,000 | |||
| Bank A/c | Dr. | 4,400 | |||
| Bills receivable A/c | Dr. | 2,000 | |||
| Building A/c | Dr. | 25,000 | |||
| To Mrs A’s Loan A/c | 4,500 | ||||
| To Bills Payable A/c | 2,500 | ||||
| To Capital A/c | 45,500 | ||||
| (Being the opening assets and liabilities brought into account) | |||||
| Dr. | Stock A/c | Cr. | |||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
| 2017 | 2017 | ||||||
| Apr. 1 | To Balance b/d | 10,100 | |||||
| 10,100 | |||||||
| Dr. | Machinery A/c |
Cr. | |||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
| 2017 | 2017 | ||||||
| Apr. 1 | To Balance b/d | 10,000 | |||||
| 10,000 | |||||||
| Dr. | Furniture A/c | Cr. | |||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
| 2017 | 2017 | ||||||
| Apr. 1 | To Balance b/d | 1,000 | |||||
| 1,000 | |||||||
| Dr. | Bills Receivable A/c | Cr. | |||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
| 2017 | 2017 | ||||||
| Apr. 1 | To Balance b/d | 2,000 | |||||
| 2,000 | |||||||
| Dr. | Building A/c | Cr. | |||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
| 2017 | 2017 | ||||||
| Apr. 1 | To Balance b/d | 25,000 | |||||
| 25,000 | |||||||
| Dr. | Mrs A’s Loan A/c | Cr. | |||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
| 2017 | 2017 | ||||||
| Apr. 1 | By Balance b/d | 4,500 | |||||
| 4,500 | |||||||
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| Dr. | Bills Payable A/c | Cr. | |||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
| 2017 | 2017 | ||||||
| Apr. 1 | By Balance b/d | 2,500 | |||||
| 2,500 | |||||||
| Dr. | Capital A/c | Cr. | |||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
| 2017 | 2017 | ||||||
| Apr. 1 | By Balance b/d | 45,500 | |||||
| 45,500 | |||||||
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. 2 – Theory Base of Accounting
Chapter No. 3 – Origin of Transactions
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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)