Question No 09 Chapter No 7
09. From the information given below:
(a) Prepare the account of Mr Small as it would appear in the books of Mr Big.
|Mar. 1||Debit balance brought forward||3,000|
|Mar. 7||Mr Small made credit purchases from Mr Big||1,500|
|Mar. 12||Mr Small returned defective goods||150|
|Mar. 15||Mr Small paid on account||3,000|
|Mar. 30||Mr Small repaid the roof of Mr Big’s premises and agrees to adjust the value of this work in his account Rs 530|
(b) What does the balance of the account at the end of the months mean?
The solution of Question No 09 Chapter No 7: –
|Dr.||Books of Big
|Mar. 1||To Balance b/d||3,000||Mar. 12||By Return inwards A/c||150|
|Mar. 7||To Sale A/c||1,500||Mar. 15||By Cash A/c||3,000|
|Mar. 30||By Repair A/c||530|
|Apr. 30||By Balance c/d||820|
(b) The debit balance of Rs 820 in the account of Mr Small indicates that he is indebted to Big
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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. 3 – Origin of Transactions
Chapter No. 6 – Accounting for Goods and Services Tax(GST)