Advertisement

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 - T.S. Grewal +1 Book 2019-min-min

Advertisement

Question No 12 Chapter No 10

Advertisement

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

2018 Rs
Apr-01Cash Balance Rs 2,000, bank balance Rs 24,500 
Apr-02Cash sales Rs 60,000 plus CGST and SGST @6% each  
Apr-05Deposited in Bank50,000
Apr-07Issued cheque to Sohan 10,000
Apr-09Sold goods for cash Rs 10,000 plus CGST and SGST @6% each  
Apr-12Received a cheque from National Insurance Co. Ltd. against claim lodged last year19,800
Apr-14Sold 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-16Purchased furniture for Rs 10,000 plus CGST and SGST @6% each paid for furniture by cheque 
Apr-18Sold old furniture for 10,000 plus CGST and SGST @6%  each and received cash  
Apr-20Paid into bank cheque of Niraj and cash 2,500
Apr-22Paid to Suman by cheque 2,500
Apr-26Suman’s cheque returned on technical ground and paid cash for an equal amount  
Apr-28The bank charged its commission of Rs300 plus CGST and SGST @6% each 
Apr-29Bank paid insurance premium as per Standing instruction2,500
Apr-30Nigam 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.
DateParticulars
L.F.Cash Bank DateParticulars
L.F.CashBank
Apr. 2018    Apr. 2018    
1To Balance B/d 2,00024,5005By Bank A/c 50,000 
2To Sale A/c  60,000 9By Sohan A/c  10,000
2To Output CGST A/c 3,600 16To Furniture A/c  10,000
2To Output SGST A/c 3,600 16By Input CGST A/c  600
5To Cash A/c  50,00016By Input SGST A/c  600
9To Sales A/c 10,000 20By Bank A/c 2,500 
9To Output CGST A/c  600 22By Suman A/c  2,500
9To Output SGST A/c 600 26By Suman A/cC2,500 
12To National Insurance. Co, A/c  19,80028By Commission A/c  300
14To Niraj A/c 10,000 28By Input CGST A/c  18
14To Output CGST A/c  1,50028By INput SGST A/c 18
14To Output SGST A/c  1,50029Insurance premium A/c  2,500
18To Old furniture A/c 10,000      
18To Output CGST A/c 600      
18To Output SGST A/c 600      
20To Cash A/c  2,500     
20To Cheque in hand A/c  14,500     
26To Suman A/c  2,500     
30To Nigam A/c  5,000     
     31By Balance C/d 46,60095,264
          
   1,01,6001,21,800   1,01,6001,21,800

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

Advertisement-X

*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

Advertisement-X

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: –

Advertisement-X

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

Thanks Please share with your friends  

Advertisement-X

Comment if you have any question.

Also, Check out previous Chapters: –

 

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

T.S. Grewal's Double Entry Book Keeping

T.S. Grewal’s Double Entry Book Keeping

Advertisement

Advertisement

error: Content is protected !!