Question No 07 Chapter No 7 – USHA Publication 11 Class

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
2018
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
2018				2018
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
2018				2018
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
2018				2018
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
2018				2018
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
2018				2018
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
2018				2018
				Apr. 1	By Balance b/d		4,500
							4,500

 

Dr.	Bills Payable A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
				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
2018				2018
				Apr. 1	By Balance b/d		45,500
							45,500

 

What is Ledger – Explained with Example

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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)