Question No 10 Chapter No 7
10. From the following information, prepare Somesh’s Account, balance it and explain what does the closing balance indicate?
| 2018 | Rs | |
| Jan. 1 | Opening Balance (Dr) | 12,300 |
| Jan. 10 | Sold goods to him | 67,000 |
| Jan. 15 | Received cash from him | 30,000 |
| Jan. 20 | He returned goods | 50,000 |
| Jan. 23 | Purchased furniture from him | 90,000 |
| Jan.29 | Paid by cheque | 60,000 |
The solution of Question No 10 Chapter No 7: –
| Dr. | Cr. | ||||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
| 2018 | 2018 | ||||||
| Jan. 1 | To Balance b/d | 12,300 | Jan. 15 | By Cash A/c | 30,000 | ||
| Jan. 10 | To Sale A/c | 67,000 | Jan. 20 | By Cash A/c | 5,000 | ||
| Jan. 10 | To Sale A/c | 60,000 | Jan. 23 | By Repair A/c | 90,000 | ||
| Jan. 30 | By Balance c/d | 14,300 | |||||
| 1,39,300 | 1,39,300 | ||||||
What is Ledger – Explained with Example
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Also, Check out the solved question of all Chapters: –
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)