Question No 12 Chapter No 10 – T.S. Grewal 11 Class

Question No. 12 - Chapter No.10 - T.S. Grewal +1 Book 2019-min-min

Question No 12 Chapter No 10

Enter the following transactions in the two-column cash book of Reena, Chandigarh and find out cash and bank balances;

2018   Rs
Apr-01 Cash Balance Rs 2,000, bank balance Rs 24,500  
Apr-02 Cash sales Rs 60,000 plus CGST and SGST @6% each   
Apr-05 Deposited in Bank 50,000
Apr-07 Issued cheque to Sohan  10,000
Apr-09 Sold goods for cash Rs 10,000 plus CGST and SGST @6% each   
Apr-12 Received a cheque from National Insurance Co. Ltd. against claim lodged last year 19,800
Apr-14 Sold goods to Niraj of Rs 25,000 plus CGST and SGST @6% each, received cash Rs 10,000 and balance by cheque. Allowed him to discount Rs 500  
Apr-16 Purchased furniture for Rs 10,000 plus CGST and SGST @6% each paid for furniture by cheque  
Apr-18 Sold old furniture for 10,000 plus CGST and SGST @6%  each and received cash   
Apr-20 Paid into bank cheque of Niraj and cash  2,500
Apr-22 Paid to Suman by cheque  2,500
Apr-26 Suman’s cheque returned on technical ground and paid cash for an equal amount   
Apr-28 The bank charged its commission of Rs300 plus CGST and SGST @6% each  
Apr-29 Bank paid insurance premium as per Standing instruction 2,500
Apr-30 Nigam paid into bank directly, intimation received on the same date  5,000

The solution of Question No 12 Chapter No 10: – 

In the Books of Reena, Chandigarh

Dr. Cash Book   Cr.
Date Particulars
L.F. Cash  Bank  Date Particulars
L.F. Cash Bank
Apr. 2018         Apr. 2018        
1 To Balance B/d   2,000 24,500 5 By Bank A/c   50,000  
2 To Sale A/c    60,000   9 By Sohan A/c     10,000
2 To Output CGST A/c   3,600   16 To Furniture A/c     10,000
2 To Output SGST A/c   3,600   16 By Input CGST A/c     600
5 To Cash A/c     50,000 16 By Input SGST A/c     600
9 To Sales A/c   10,000   20 By Bank A/c   2,500  
9 To Output CGST A/c    600   22 By Suman A/c     2,500
9 To Output SGST A/c   600   26 By Suman A/c C 2,500  
12 To National Insurance. Co, A/c     19,800 28 By Commission A/c     300
14 To Niraj A/c   10,000   28 By Input CGST A/c     18
14 To Output CGST A/c     1,500 28 By INput SGST A/c   18
14 To Output SGST A/c     1,500 29 Insurance premium A/c     2,500
18 To Old furniture A/c   10,000            
18 To Output CGST A/c   600            
18 To Output SGST A/c   600            
20 To Cash A/c     2,500          
20 To Cheque in hand A/c     14,500          
26 To Suman A/c     2,500          
30 To Nigam A/c     5,000          
          31 By Balance C/d   46,600 95,264
                   
      1,01,600 1,21,800       1,01,600 1,21,800

All transactions which are highlighted with (*) are explained as following as follows: –

*Apr.5 Cash received from the sale of shares

Share is our assets which is named as Investment, So that’s why we had used the account Investment while posting the transaction into cash book.


*Par.6 Cheque Received as an advance against the sale, paid into the bank

Cheque received as an advance against sale but the name of the person or firm is not given. So, that’s why we have the account of Advance from the customer while posting the transaction into the cash book.

But in real-world, nothing will happen with you like this, Because the name of the customer will be written on the cheque.

*Apr.30 Sold goods in cash Rs 8,000 plus CGST and SGST @6% each and banked the same

The calculation of Amount of CGST and SGST @ 6% each
8,000 * 6% = 480/- each

*Oct. 27 Sold goods for Rs 11,000 Plus CGST and SGST @6% against Cash

The calculation of Amount of CGST and SGST @ 6% each
11,000 * 6% = 660/- each

*Oct. 28 Received a cheque for goods sold for Rs 9,000 plus CGST and SGST @6% each

The calculation of Amount of CGST and SGST @ 6% each
9,000 * 6% = 540/- each

To understand more about cash book please check out following links: –

Cash Book | Types of Cash Book | Subsidiary Books

Single Column Cash Book | Explained with Example

Double Column Cash Book | Explained with Example

Triple Column Cash Book | Explained with Example

Petty Cash Book | Example | Subsidiary Books

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Also, Check out previous Chapters: –

 

Check out T.S. Grewal +1 Book 2019 @ Oficial Website of Sultan Chand Publication

T.S. Grewals Double Entry Book Keeping - Question No 12 Chapter No 10 - T.S. Grewal 11 Class

T.S. Grewal’s Double Entry Book Keeping

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