Question No 14 Chapter No 8

Question No 14 Chapter No 8 – D.K Goal

14. Enter the following transactions of a dealer in electrical goods in the appropriate subsidiary books:

2018 Rs
Jan.1Assets : Cash in hand 12,400; Stock 3,60,000; Debtors : Abhilash 20,000; Bhuwan 30,000, Charu 52,000; Furniture 2,25,000 
 Liabilities : Bank overdraft 38,000; Creditors : Dinesh 15,000; Eknath 25,000 
Jan.3Purchased from Raghuraj & Sons : 
 80 electric Kettles @ 300 each 
 40 electric irons @ 420 each 
 20% Trade Discount 
Jan.5Withdrew from Bank20,000
Jan.6Acceptance received from Abhilash at one month for the amount due from him 
Jan.10Purchased a computer from Gursharan Bros. on credit for office use40,000
Jan.12Returned 10 electric kettles to Raghuraj & Sons 
Jan.14Paid Raghuraj & Sons by cheque the balance due to them 
Jan.15Paid to Gursharan Bros. 30,000 in cash and the balance by a cheque 
Jan.16Paid wages in cash500
Jan.20Purchased from Dinesh : 
 10 Washing Machines @ 16,000 each 
 4 Vacuum cleaners @ 6,000 each 
 15% Trade Discount 
Jan.22Sold to Charu 
 200 electric shavers @ 250 each 
 400 toasters @ 150 each 
 450 heaters @ 200 each 
 10% Trade Discount 
Jan.24Received from Charu a cheque in full settlement of his account. The cheque is paid into the bank.2,30,000
Jan.25Acceptance is given to Dinesh for 30 days1,50,000
Jan.25Cheque issued to Dinesh in full settlement of his account21,000
Jan.25Sold for Cash 20 electric irons9,000
Jan.27Deposited into bank5,000
Jan.30Paid staff salaries by cheque15,000
Jan.30Bank charged incidental expenses 50 and charged interest 1,200. 

The solution of Question No 14 Chapter No 8 – D.K Goal: –

Dr.Cash BookCr.
DateParticulars
L.
F.
Discount
Allowed
CashBankDateParticulars
L.
F.
Discount ReceivedCashBank
2020     2020     
Jan.1To Balance b/d 12,400Jan.08By Balance b/d 38,000
Jan.5To Bank A/c 20,000Jan.5By Cash A/c 20,000
Jan.24To Charu A/c 2,0002,30,000Jan.14By Raghuraj & Sons A/c 30,240
Jan. 25To Sale A/c 9,000Jan.15By Gursharan Bros. A/c 30,00010,000
Jan.27To Cash A/c 5,000Jan.16By Wages A/c  500
      Jan.25By Dinesh A/c 40021,000
      Jan.27By Bank A/c 5,000
      Jan.30By Salary A/c A/c   15,000
      Jan.30By Bank Charge A/c   50
      Jan.30By Bank Interest A/c 1,200
            
Jun.30To Balance c/d 2,000 Jun.30By Balance C/d 400
7,50048,310
   2,00041,4002,35,000   40041,4002,35,000

 

Purchases Book
DateParticularDetailTotal
2018
Jan.
   
3Raghuraj & Sons  
 80 Electric Kettles @ Rs 300 each24,000 
 40 Electric Irons @ Rs 420 each16,800 
 Less: 20% Trade Discount8,160 
  32,64032,640
20Dinesh  
 10 Washing Machines @ Rs 16,000 each1,60,000 
 4 Vacuum Cleaners @ Rs 6,000 each24,000 
 Less: 15% Trade Discount27,600 
  1,56,4001,56,400
   1,89,040

 

Sale Book
DateParticularDetailTotal
2018
Jan.
   
22Charu  
 200 Electric Shavers @ Rs 250 each50,000 
 400 Toasters @ Rs 150 each60,000 
 450 Heaters @ Rs 200 each90,000 
 Less: 10% Trade Discount20,000 
  1,80,0001,80,000
   1,80,000

 

Purchases Return Book
DateParticularDetailTotal
2018
Jan.
   
12Raghuraj & Sons  
 10 Electric Kettles @ Rs 300 each3,000 
 Less: 20% Trade Discount600 
  2,4002,400
   2,400

 

In the Books of Radhika Traders
DateParticulars
L.F.DebitCredit
2019     
Jan.1Cash A/cDr. 12,400 
 Stock A/cDr. 3,60,000 
 Abhilash A/cDr. 20,000 
 Bhuwan A/cDr. 30,000 
 Charu A/cDr. 52,000 
 Furniture A/cDr. 2,25,000 
 To Bank Overdraft A/c   38,000
 To Dinesh A/c   15,000
 To Eknath A/c   25,000
 To Capital A/c (balancing figure)   6,21,400
 (Being Opening balances brought forward.)   
     
Jan.6Bills Receivable A/cDr. 20,000 
 To Abhilash A/c   20,000
 (Being Acceptance received for the amount due from him )   
      
Jan.10Computer A/cDr. 40,000 
 To Gurusharan Bros A/c  40,000
 (Being Acceptance given to Ganga Parshad.)   
     
Jan.24Discount Allowed A/cDr. 2,000 
 To Charu A/c   2,000
 (Being Discount of Rs2,000 allowed to Charu)    
      
Jan.25Dinesh A/cDr. 1,50,000 
 To Bills Payable A/c   1,50,000
 (Being Acceptance given )    
      
Jan.25Dinesh A/cDr. 400 
 To Discount Received A/c   400
 (Being Discount of Rs 400 received on payment to Dinesh)    
     

 

Purchase Return Book | Subsidiary Books | Examples

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