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

Question No.14 - Chapter No.11 - T.S. Grewal +1 Book 2019-Solution-min-min

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Question No 14 Chapter No 11

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Journal Proper

14. ( Closing Entries).Give the necessary entries in Journal Proper of Ram on 31st March 2018 to close their books:

Freehold Premises Rs 30,000; Plant and Machinery Rs 20,000; Sundry Debtors Rs 25,000; Purchase Rs 37,500; Sales Rs 95,000; Discount (Dr) Rs 150; Discount(Cr) Rs 175; Sundry Creditors Rs 12,500; Carriage Inward Rs 375; Carriage Outward Rs 600; Furniture and Fixtures Rs 2,500; Wages Rs 5,000; Bad Debts Rs 750; Salaries Rs 3,600; Commission (Cr) Rs 2,125; Capital Account Rs 25,000; Bills Payable Rs 7,500; Bills Receivable Rs 9,000; Trade Expenses Rs 2,550; Ram’s Loan Account Rs 20,000; Cash in Hand Rs 75; Cash in Bank Rs 3,125

The solution of Question No 14 Chapter 11

Date  Particulars
L.F.DebitCredit
 Trading A/cDr 42,875 
 To Purchase A/c  37,500
 To Carriage Inwards A/c  375
 To Wages A/c   5,000
 (Being Account Transfer to Trading Account)    
 Sale A/cDr 95,000 
 To Trading A/c   95,000
 (Being Sale Account Transfer to Trading Account )    
     
 Profit & Loss A/cDr 7,650 
 To Discount Allowed A/c  150
 To Carriage Outwards A/c   600
 To Bad Debts A/c  750
 To Salaries A/c  3,600
 To Trade Expenses A/c  2,550
 (Being Account Transfer to Profit & Loss Account)   
 Discount Received A/cDr 175 
 Commission Received A/cDr 2,215 
 To Profit & Loss A/c  2,390
 (Being Account Transfer to Profit & Loss Account )   
 Profit & lose A/cDr 46,775 
 To Capital A/c   46,775
 (Being Account Transfer to Trading Account)   
     

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

Journal Proper | Subsidiary Books | Examples

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Also, Check out the solved question of previous Chapters: –

Check out T.S. Grewal +1 Book 2019 @ Official 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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