Question No 12 Chapter No 7 - UNIMAX Class 11 - Solution

Question No 12 Chapter No 7 – UNIMAX Class 11

Table of Contents

12. Record the following transactions of Daljit Ranchi, Kochi in a two-column cash book and the balance of the book on 31st January 2020:

Date	Particular	₹	Date	Particular	₹
2020			2020
Jan.1	Cash balance	1,000	Jan.16	Bought goods, including IGST @ 12%	6,720
Jan.1	Bank balance	14,500	Jan.19	Paid Shyam by cheque	3,700
Jan.1	Cash received from sales shares*	60,000		Discount received from him	300
Jan.2	Paid into bank	50,000	Jan.20	Drew from bank	3,000
Jan.3	Purchase goods from M/s. Agarwal & Co. ₹13,000 plus CGST and SGST @ 6% each and payment by cheque ₹14,000 in full settlement		Jan.22	Cash drawn from the bank for personal use	2,000
Jan.3			Jan.24	Cash sales, including CGST and SGST @ 6% each	1,904
			Jan.27	Received from Sharma	18,000
Jan.4	Paid wages	2,400		Discount allowed	500
Jan.5	Received from Mohan a cheque for ₹ 9,800 against due of ₹10,000 in full settlement of his account		Jan.28	Deposited cash into the bank	15,000
Jan.8	Mohan cheque deposited into bank		Jan.28	Gave cheque for cash purchases including IGST @ 12%	2,240
Jan.14	Paid to stationery plus CGST and SGST @ 6% each.	1,500	Jan.30	Paid rent by cheque plus CGST and SGST @ 6% each	2,000

*GST is not levied on purchases and sales of securities.

The solution of Question No 12 Chapter No 7 – UNIMAX Class 11

Dr.	Journal
Date	Particulars		L. F.	DRBIT	CREDIT
2020
Jan.3	Purchases A/c	Dr.		560
	To Discount received A/c				560
	(Being the discount received against payment made by cheque)
		Dr.		9,800
Jan.5	Cheque in hand A/c	Dr.		200
	Discount allowed A/c				10,000
	To sales A/c
	(Being the discount allowed to Mohan against payment received by cheque)
Jan.19	Shyam A/c	Dr.		300
	To Discount received A/c				300
	(Being the discount received against payment made by cheque)

Jan.27	Discount allowed A/c	Dr.		500
	To Sharma A/c				500
	(Being the discount allowed to Sharma against payment received)

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Part-I

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Part-II

Part-III