Advertisement

Question No 11 Chapter No 8 – T.S. Grewal 11 Class

Question No. 11 - Chapter No.8 - T.S. Grewal +1 Book 2019
Question No. 11 - Chapter No.8 - T.S. Grewal +1 Book 2019

Advertisement

Question No 11 Chapter No 8

Advertisement

Following transactions of Ramesh, Delhi for April,2018 are given below. Journalise them:

2018 Rs
Apr-01Ramesh Started business with cash 1,00,000
Apr-02Deposited cash to open a current account with bank70,000
Apr-03Brought goods for cash5,000
Apr-13Sold Goods to Krishna, Panipat(Haryana)on Credit1,500
Apr-20Brought goods from Atul, Karnal on Credit2,250
Apr-24Received from Krishna 1,450
 Allowed him discount50
Apr-28Paid cash to Shyam2,150
 Discount allowed by him100
Apr-30Cash sales for the month 8,000
Apr-30Paid Rent 500
Apr-30Paid Salaries 10,000

CGST and SGST @6% each on intra-state sale and purchase. IGST is lived @ 12% on inter-state sale and purchase.

Solution of Question No 11 Chapter No 8: –

In the Books of Ramesh , Delhi

Date  Particulars
L.F.DebitCredit
April 1Cash A/cDr. 1,00,000 
            To Capital A/c  1,00,000
 (Being Ramesh commenced business with cash.)   
      
April 2Bank A/cDr. 70,000 
            To Cash A/c  70,000
 (Being opened a current account in bank)   
      
April 3Purchase A/cDr. 5,000 
 CGST Input A/cDr. 300 
 SGST Input A/cDr. 300 
           To Cash A/c   5,600
 (Being goods purchased for Cash.)   
      
April 13Krishna A/cDr. 1,680 
           To Sales A/c   1,500
           To IGST Output A/c   180
 (Being goods sold to Krishna)   
      
April 20Purchase A/cDr. 2,250 
 IGST Input A/cDr. 270 
           To Atul A/c   2,520
 (Being goods purchased from Atul inter-state)   
      
April 24Cash A/cDr. 1,450 
 Discount Allowed A/cDr. 50 
           To Krishna A/c   1,500
 (Being payment received from Krishna and allow him discount)   
      
April 28Shyam A/cDr. 2,250 
           To Cash  A/c   2,150
           To Discount Received A/c   100
 (Being cash paid to Shyam)   
      
April 28Cash A/cDr. 8,960 
           To Sales A/c   8,000
           To CGST Output A/c   480
           To SGST Output A/c   480
 (Being goods sold for cash)   
      
April 30Rent A/cDr. 500 
           To Cash  A/c   500
 (Being Rent paid.)   
      
April 30Salary A/cDr. 10,000 
           To Cash  A/c   10,000
 (Being salary paid.)   
     

Explanation of All Transactions with images: –

Advertisement-X

This is not a part of the solution, So you don’t have to write it in the exam. So, why we explained if it is not needed. Because This explanation will help you to understand all transactions with logic and you don’t need to remember all the transactions but just understand and remember the logic use behind it.

Transaction No. 1

Transaction No. 1 Question No.11 - Chapter No.8 - T.S. Grewal +1 Book 2019
Transaction No. 1 Question No.11 – Chapter No.8 – T.S. Grewal +1 Book 2019
Name of AccountType of AccountRule which will ApplicableWhat happen in the transactionRule appliedAccording to Rule It will be

Cash

 Assets

 Real Account

 Cash received by business

Cash Comes In

Debit

Capital (owner)

 Personal

 Personal Account

 Giving cash to business

Owner is Giver

Credit

Transaction No. 2

Transaction No. 2 Question No.11 - Chapter No.8 - T.S. Grewal +1 Book 2019
Transaction No. 2 Question No.11 – Chapter No.8 – T.S. Grewal +1 Book 2019
Name of AccountType of AccountRule which will ApplicableWhat happen in the transactionRule appliedAccording to Rule It will be

Cash

 Assets

 Real Account

 Cash giving by business

Cash goes out

Credit

Bank

 Personal

 Personal Account

 Receiving cash from business

Bank is Receiver

Debit

Transaction No. 3

Transaction No. 3 Question No.11 - Chapter No.8 - T.S. Grewal +1 Book 2019
Transaction No. 3 Question No.11 – Chapter No.8 – T.S. Grewal +1 Book 2019
Name of AccountType of AccountRule which will ApplicableWhat happen in the transactionRule appliedAccording to Rule It will be

Purchase (Goods)

 Assets

 Real Account

 Goods received by business

Goods comes in

Debit

CGST Input A/c

Expenses

Nominal Account

Tax collected from buyer

All Expenses and losses

Debit

SGST Input A/c

Expenses

Nominal Account

Tax collected from buyer

All Expenses and losses

Debit

 Cash

Assets

 Real Account

Payment made in cash

Cash goes out

Credit

Transaction No. 4

Transaction No. 4 Question No.11 - Chapter No.8 - T.S. Grewal +1 Book 2019
Transaction No. 4 Question No.11 – Chapter No.8 – T.S. Grewal +1 Book 2019
Name of AccountType of AccountRule which will ApplicableWhat happen in the transactionRule appliedAccording to Rule It will be

Krishna

 Person

 Personal Account

Goods received

Ram is receiver

Debit

Sales a/c (Goods)

 Assets

 Real Account

 Goods giving by Business

Goods Goes out

Credit

CGST Output A/c

Income

Nominal Account

Tax collected from buyer

All income and gains

Credit

SGST Output A/c

Income

Nominal Account

Tax collected from buyer

All income and gains

Credit

Transaction No. 5

Transaction No. 5 Question No.11 - Chapter No.8 - T.S. Grewal +1 Book 2019
Transaction No. 5 Question No.11 – Chapter No.8 – T.S. Grewal +1 Book 2019
Name of AccountType of AccountRule which will ApplicableWhat happen in the transactionRule appliedAccording to Rule It will be

Purchase (Goods)

 Assets

 Real Account

 Goods received by business

Goods comes in

Debit

IGST Input A/c

Expenses

Nominal Account

Tax collected from buyer

All Expenses and losses

Debit

 Mr. Atul

Person

Personal Account

Making payment

Atul is Giver

Credit

Transaction No. 6

Transaction No. 6 Question No.11 - Chapter No.8 - T.S. Grewal +1 Book 2019
Transaction No. 6 Question No.11 – Chapter No.8 – T.S. Grewal +1 Book 2019
Name of AccountType of AccountRule which will ApplicableWhat happen in the transactionRule appliedAccording to Rule It will be

Cash

 Assets

 Real Account

 Cash received by business

Cash Comes In

Debit

Discount Allowed

Loss

Nominal Account

Discount allowed

All expenses and losses

Debit

 Krishna

Person

Personal Account

Making  payment

Krishna is giver

Credit

Advertisement-Y

Transaction No. 7

Transaction No. 7 Question No.11 - Chapter No.8 - T.S. Grewal +1 Book 2019
Transaction No. 7 Question No.11 – Chapter No.8 – T.S. Grewal +1 Book 2019
Name of AccountType of AccountRule which will ApplicableWhat happen in the transactionRule appliedAccording to Rule It will be

 Mr. Shyam

Person

Personal Account

Receiving  payment

Shyam is Receiver

Debit

 Cash

Assets

 Real Account

Payment made in cash

Cash goes out

Credit

Discount Received

gain

Nominal Account

Discount received

All income and gains

Credit

Transaction No. 8

Transaction No. 8 Question No.11 - Chapter No.8 - T.S. Grewal +1 Book 2019
Transaction No. 8 Question No.11 – Chapter No.8 – T.S. Grewal +1 Book 2019
Name of AccountType of AccountRule which will ApplicableWhat happen in the transactionRule appliedAccording to Rule It will be

Cash

 Assets

 Real Account

 Cash received by business

Cash Comes In

Debit

Sales a/c (Goods)

 Assets

 Real Account

 Goods giving by Business

Goods Goes out

Credit

CGST Output A/c

Income

Nominal Account

Tax collected from buyer

All income and gains

Credit

SGST Output A/c

Income

Nominal Account

Tax collected from buyer

All income and gains

Credit

Transaction No. 9

Transaction No. 9 Question No.11 - Chapter No.8 - T.S. Grewal +1 Book 2019
Transaction No. 9 Question No.11 – Chapter No.8 – T.S. Grewal +1 Book 2019
Name of AccountType of AccountRule which will ApplicableWhat happen in the transactionRule appliedAccording to Rule It will be

Rent A/c

Expense

Nominal Account

Expenses incurred

 All Expenses and Losses

Debit

 Cash

Assets

 Real Account

Payment made in cash

Cash goes out

Credit

Transaction No. 10

Transaction No. 10 Question No.11 - Chapter No.8 - T.S. Grewal +1 Book 2019
Transaction No. 10 Question No.11 – Chapter No.8 – T.S. Grewal +1 Book 2019
Name of AccountType of AccountRule which will ApplicableWhat happen in the transactionRule appliedAccording to Rule It will be

Salary A/c

Expense

Nominal Account

Expenses incurred

 All Expenses and Losses

Debit

 Cash A/c

Assets

 Real Account

Payment made in cash

Cash goes out

Credit

Thanks Please share with your friends  

Comment if you have any question.

Check out T.S. Grewal +1 Book 2019 ir?t=tutorstips 21&l=ur2&o=31 - Fictitious Assets - Meaning and Explanation@ Amazon.in

T.S. Grewal's Double Entry Book Keeping

T.S. Grewal’s Double Entry Book Keeping

 

Advertisement

Advertisement

error: Content is protected !!