Question No 09 Chapter No 7 – USHA Publication 11 Class

Question No 09 Chapter No 7

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.

2019   Rs
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 Bag’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
Small’s A/c
Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
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
      4,500       4,500

(b) The debit balance of Rs 820 in the account of Mr Small indicates that he is indebted to Big

What is Ledger – Explained with Example

Thanks, Please Like and share with your friends  

Comment if you have any question.

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)