Question No 12(A) Chapter No 5 - D.K Goal Class 11

Question No 12(A) Chapter No 5

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The solution of Question No 12(A) Chapter No 5: –

D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution

12(A). Following balances appeared in the books of Radhika Traders as on 1st April, 2017:− Assets: Cash 8,000; Cash at Bank 7,000; Stock 30,000; Debtors : 36,000 Mohan 10, 000;Sohan 12, 000; Dinesh 14, 000 ; Furniture 5,000; Building 25,000. Liabilities: Creditors− X 5,000; Y 6,000. In April 2017, the following transaction took place:

2018		Rs
Apr.2	Bought goods of the list price of 6,000 from Khanna Brothers less 15% trade discount and 2% cash discount and paid 40% price at the same time
Apr.3	Received a draft from Mohan in full settlement and deposited it into Bank	9,750
Apr.5	Purchased goods from Suresh of the list price of 8,000 at 20% trade discount and paid him by cheque.
Apr.8	Sold goods and received a cheque	25,000
Apr.10	Deposited the above cheque into Bank
Apr.12	Sohan deposited in our Bank A/c	4,000
Apr.16	Paid Income Tax by Cheque	5,600
Apr.20	Received a cheque from Sohan and sent it to Bank	7,800
	Discount allowed	200
Apr.21	Withdrew from Bank−for office	2,000
	for private use	4,000
Apr.23	Sent a cheque to X in full settlement of his A/c	4,900
Apr.27	The cheque of Sohan returned by the bank as dishonored.
Apr.28	Dinesh was declared insolvent and a payment of 60 paise in a received from his estate by a Cheque
Apr.30	Bank allowed Interest	350
	Paid for Rent by cheque	1,500
	Paid for traveling expenses by cheque	500

The solution of Question No 12(A) Chapter No 5: –

In the Books of Hari Shankar & Co
Date	Particulars		L.F.	Debit	Credit
2019
Apr.1	Cash in Hand A/c	Dr.		8,000
	Cash at Bank A/c	Dr.		7,000
	Stock A/c	Dr.		30,000
	Mohan’s A/c	Dr.		10,000
	Sohan’s A/c	Dr.		12,000
	Dinesh’s A/c	Dr.		14,000
	Furniture A/c	Dr.		5,000
	Building A/c	Dr.		25,000
	To X’s A/c				5,000
	To Y’s A/c				6,000
	To Capital A/c (Balancing figure)				1,00,000
	(Being balances of the previous year brought forward .)

Apr.2	Purchases A/c	Dr.		5,100
	To Khanna Brothers				3,060
	To Cash A/c				1,999
	To Discount Received A/c				41
	(Being Goods purchased and received a discount on cash payment.)

Apr.3	Bank A/c	Dr.		9,750
	Discount Allowed A/c	Dr.		250
	To Mohan A/c				1,000
	(Being Draft received from Mohan deposited into the bank)

Apr.5	Purchases A/c	Dr.		6,400
	To Bank A/c				6,400
	(Being Goods purchased and payment made by cheque)

Apr.8	Cheques-in-Hand A/c	Dr.		25,000
	To Sales A/c				25,000
	(Being goods sold and received a cheque.)

Apr. 10	Bank A/c	Dr.		25,000
	To Cheques-in-Hand A/c				25,000
	(Being Cheque deposited into the bank)

Apr.12	Bank A/c	Dr.		6,400
	To Sohan’s A/c				6,400
	(Being Amount deposited by Sohan )

Apr. 16	Drawings A/c	Dr.		5,600
	To Cash A/c				5,600
	(Being Incometax paid)

Apr.20	Bank A/c	Dr.		7,800
	Discount Allowed A/c	Dr.		200
	To Sohan’s A/c				8,000
	(Being Banked cash received from Sohan in full settlement.)

Apr.21	Drawings A/c	Dr.		4,000
	Cash A/c	Dr.		2,000
	To Bank A/c				6,000
	(Being Amount withdrawn for office and personal use.)

Apr.23	X A/c	Dr.		5,000
	To Bank A/c				4,900
	To Discount Received A/c				100
	(Being Cheque issued to X in full settlement of his account)

Apr.27	Sohan’s A/c	Dr.		8,000
	To Bank A/c				7,800
	To Discount Received A/c				200
	(Being Cheque received from Sohan gets dishonored)

Apr.28	Cash A/c	Dr.		8,400
	Bad Debts A/c	Dr.		5,600
	To Dinesh’s A/c				14,000
	(Being Cash received and bad −debts written off.)

Apr.30	Bank A/c	Dr.		350
	To Interest A/c				350
	(Being Interest allowed by the bank.)

Apr.30	Rent A/c	Dr.		1,500
	Traveling Expenses A/c	Dr.		500
	To Bank A/c				2,000
	(Being Expenses paid through cheque.)

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Financial Accounting – Introduction and its Functions

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D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution

Chapter 1 Evolution of Accounting & Basic Accounting Terms
Chapter 2 Accounting Equations
Chapter 3 Meaning and Objectives of Accounting
Chapter 4 Double Entry System
Chapter 5 Books of Original Entry – Journal
Chapter 6 Accounting for Goods and Service Tax (GST) (Coming soon)
Chapter 7 Books of Original Entry – Cash Book (Coming soon)
Chapter 8 Books of Original Entry – Special Purpose Subsidiary Books (Coming soon)
Chapter 9 Ledger (Coming soon)
Chapter 10 Trial Balance and Errors (Coming soon)
Chapter 11 Bank Reconciliation Statement (Coming soon)
Chapter 12 Depreciation (Coming soon)
Chapter 13 Bills of Exchange (Coming soon)
Chapter 14 Generally Accepted Accounting Principles(GAAP)
Chapter 15 Bases of Accounting
Chapter 16 Accounting Standards and International Financial Reporting Standard(IFRS) (Coming soon)
Chapter 17 Capital and Revenue
Chapter 18 Provisions and Reserves
Chapter 19 Final Accounts (Coming soon)
Chapter 20 Final Accounts – With Adjustments (Coming soon)
Chapter 21 Errors and their Rectification (Coming soon)
Chapter 22 Accounts from Incomplete Records – Single Entry System (Coming soon)
Chapter 23 Accounts of Not-for-Profit Organisations (Coming soon)
Chapter 24 Computerised Accounting System (Coming soon)
Chapter 25 Introduction to Accounting Information System (Coming soon)

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Question No 12(A) Chapter No 5 – D.K Goal Class 11

The solution of Question No 12(A) Chapter No 5: –

D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution

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