Question No 14 Chapter No 10 – T.S. Grewal 11 Class

Posted by By Amanpreet Kaur 8 Min Read June 11, 2020

Question No 14 Chapter.

14.Record the following transaction in two-column Cashbook of Ripple, Delhi  :

2018   Rs
Mar.1 Cash balance 25,000
  Bank balance 20,000
Mar.4 Paid insurance premium by cheque 14,200
Mar.7 Cash purchases of goods of Rs15,000 plus CGST and SGST @6%   
  Received cash discount of 3% of purchases Cost of goods   
Mar.8 Cash sale of Rs 15,000 plus CGST and SGST @6% 2,000
  Allowed cash discount @2% of the Sale Value of goods   
Mar.10 Cash deposited into Bank 15,000
Mar.11 Telephone bill paid by cheque, including CGST and SGST @6%  2,240
Mar.14 Withdrew bank for personal use 6,000
Mar.15 Withdrew from a bank for office use 14,500
Mar.20 Received cheque from Dinesh in full Settlement of Rs11,000 and deposited the same into a bank 10,700
Mar.23 Cash received from Mohan 6,850
  Discount allowed 150
Mar.24 Stationary purchases for cash, including CGST and SGST@6% each  1,120
Mar.24 Cheque received from Gupta, allowed him to discount Rs250 4,500
Mar.28 Cheque received from Gupta, deposited into bank 4,500
Mar.31 Cheque deposited on Mar.28 Dishonored and returned by the bank   
Mar.31 Rent paid by cheque, including CGST and SGST @6% 4,480
Mar.31 Paid cash for postage 220
Mar.31 Paid wages to the watchman in cash 3,000

The solution of Question No 14 Chapter No 10: – 

In the Books of Ripple, Delhi

Dr. Cash Book   Cr.
Date Particulars
 L.F. Cash  Bank  Date Particulars
 L.F. Cash Bank
Mar. 2018         Mar. 2018        
1 To Balance B/d   25,000 20,000 4 By Insurance premium A/c     14,200
8 To Sale A/c   14,664   7 By Purchase A/c   14,550  
8 To Output CGST A/c   900   7 By Input CGST A/c   900  
8 To Output SGST A/c   900   7 By Input CGST A/c   900  
10 To Cash A/c c   15,000 10 By Bank A/c   15,000  
15 To Bank A/c c 14,500   11 By Telephone bill A/c     2,000
20 To Dinesh A/c     10,700 11 By Input CGST A/c     120
23 To Dinesh A/c   6,850   11 By Input SGST A/c     120
28 To cheque in hand A/c     4,500 14 By Drawing A/c     6,000
          15 By Cash A/c     14,500
          24 By Stationary A/c   1,000  
          24 By Input CGST A/c   60  
          24 By Input SGST A/c   60  
          28 By Gupta A/c     4,500
          31 By Rent A/c     4,000
          31 By Input CGST A/c     240
          31 By Input CGST A/c     240
          31 By Postage A/c   220  
          31 By wages A/c   3,000  
          31 By Balance C/d   28,244 4,280
                   
      67,814 60,200       67,814 60,200

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

*Oct. 2  Cash Sale Rs 60,000 plus CGST and SGST @6% each

The calculation of Amount of CGST and SGST @ 6% each
60,0000 * 12% = 7,200/-


*Oct. 9 Sale of goods of 10,000 plus CGST and SGST@6% each

The calculation of Amount of CGST and SGST @ 6% each
10,000 * 6% = 600/- each

*Oct. 18 Ramesh who owed Rs 5,000 became Bankrupt and Paid us 50 paise in a rupee

The calculation of the Amount of Bad Debts
5,000 X .50
2,500/-

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*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. Grewal's Double Entry Book Keeping

T.S. Grewal’s Double Entry Book Keeping

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