Question No 14 Chapter No 9 – D.K Goal 11 Class

Question No 14 Chapter No 9

Question No 14 Chapter No 9

14. Record the following transactions of M/s Mahipal Bros. in Proper Subsidiary Books, post them into the Ledger and take out a Trial Balance:

2018  
Jan.1 Commenced business with Cash 2,00,000
Jan.2 Deposited into U.T.I Bank 1,75,000.
Jan.4 Purchased goods from Dilip for 40,000. Trade Discount 20%.
Jan.6 Gave a cheque to Dilip for 16,800 and a discount allowed by him 200. 
Jan.8 Goods bought from Nilesh for Cash 14,000
Jan.10 Accepted a bill at 2 months for 15,000 drawn by Dilip.
Jan.11 Bought goods from Suresh 75,000.
Jan.13 Paid to Suresh a Cheque for 58,800 after receiving a discount of 2%.
Jan.15 Cash sales made to Jyoti Parshad 8,000.
Jan.16 Sold goods to Mohinder for 20,000
Jan.17 Goods returned by Mohinder for 1,500.
Jan.18 Received from Mohinder 7,900 after allowing a discount of 1.25%.
Jan.20 Goods sold to Banerjee 50,000.
Jan.21 Deposited into Bank 20,000.
Jan.25 Goods have taken for personal use 2,000.
Jan.25 Purchased furniture 40,000 and Typewriter 10,000 for office use. Payment for both the items is made by Cheque. 
Jan.25 Sold goods to Anubhav 31,000.
Jan.27 Goods returned by Anubhav 5,000.
Jan.27 Received full payment from Banerjee by Cheque, sent it to Bank, Discount allowed 2%
Jan.28 Acceptance received from Anubhav at 31 days for the amount due from him.
Jan.28 Paid for stationery 400 and for Postage 200.
Jan.31 Rent of proprietor’s house paid by Cheque 2,500

The solution of Question No 14 Chapter No 9: –

Dr. Cash Book Cr.
Date Particulars
L.
F.
Discount
Allowed
Cash Bank Date Particulars
L.
F.
Discount Received Cash Bank
2020           2020          
Jan.1 To Capital A/c   2,00,000 Jan.2 By Bank A/c   1,75,000
Jan.02 To Cash A/c   175,000 Jan.6 By Dilip’s A/c   200 16,800
Jan.15 To Sales A/c   8,000 Jan.8 By Purchases A/c   14,000
Jan.18 To Mohinder’s A/c   100 7,900 Jan.13 By Suresh’s A/c   1,200 58,800
Jan.21 To Cash A/c   20,000 Jan.21 By Bank A/c     20,000
Jan.27 To Banerjee’s A/c   1,000 49,000 Jan.25 By Furniture A/c   40,000
            Jan.25 By Typewriter A/c   10,000
            Jan.28 By Stationery A/c   400
            Jan.28 By Postage A/c     200  
            Jan.31 By Drawings A/c       2,500
                       
May.31 To Balance c/d   1,100 May.31 By Balance C/d   1,400
6,310 1,15,900
      1,100 2,15,900 2,44,000       1,400 2,15,900 2,44,000
Purchases Book 
Date Particular Detail Total
2018
Apr.
     
Dilip 40,000  
  Less: 20% Trade Discount 8,000  
    32,000 32,000
11 Suresh 75,000  
       
    75,000 75,000
      1,07,000
Sale Book 
Date Particular Detail Total
2018
Jan.
     
16 Mohinder 20,000  
20 Banerjee 50,000  
25 Anubhav 31,000  
    1,00,000 1,00,000
      1,00,000
Sale Return Book 
Date Particular Detail Total
2018
Jan.
     
17 Mohinder 1,500  
27 Anubhav 5,000  
    6,500 6,500
      6,500
In the Books of Radhika Traders
Date Particulars
L.F. Debit Credit
2019          
Jan.06 Cash in hand A/c Dr.   200  
  To Discount Received A/c       200
  (Being Discount of Rs200 received from Dilip)      
           
Jan.10 Dilip’s A/c Dr.   15,000  
  To Bills Payable A/c     15,000
  (Being Acceptance given for bill drawn by Dilip’s)      
         
Jan.13 Suresh A/c Dr.   1,200*  
  To Discount Received A/c       1,200*
  (Being Computer purchased on credit)        
           
Jan.18 Discount Allowed A/c Dr.   100**  
  To Mohinder       100**
  (Being Acceptance given for bill drawn by Ekta)        
           
Jan.25 Drawings A/c Dr.   2,000  
  To Purchases A/c       2,000
  (Being goods taken for personal use )        
           
Jan.27 Discount Allowed A/c Dr.   1,000  
  To Banerjee       1,000
  (Being Goods withdrawn by proprietor)        
           
Jan.28 Bills Receivable A/c Dr.   25,000  
  To Anubhav’s A/c       25,000
  (Being Acceptance received from Anubahv)        
         

Working Note:-

*Amount of discount received to Suresh(98% Value) = 58,000

*Amount of discount received (2% Value) = 58,800 X 2
98
  =

Rs 1,200

   

**Amount of discount received from Mohinder(98.75% Value) = 7,900

**Amount of discount received (1.25% Value) = 7,900 X 1.25
98.75
  =

Rs 100

   
Dr. Sales A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
        Jan.1 By Cash A/c   8,000
        Jan.31 By Sundries as per Sales Book A/c   1,00,000
Jan. 31 To Balance c/d   1,08,000        
      1,08,000       1,08,000
Dr. Sales A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
        Jan.6 By Cash A/c   2,00,000
Jan. 31 To Balance c/d   2,000,000        
      2,00,000       2,00,000
Dr. Purchases A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Jan.08 To Cash A/c   14,000 Jan.25 By Drawings A/c   2,000
Jan.25 To Sundries as
per
Purchases
Book A/c
  1,07,000        
        Apr. 30 By Balance c/d   1,19,000
      1,21,000       1,21,000
Dr. Mohinder’s A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Jan.16 To Sales A/c   20,000 Jan.18 By Cash A/c   7,900
        Jan.18 By Discount Allowed A/c   100
        Jan.17 By Sales Return A/c   1,500
        Jan.31 By Balance c/d   10,500
      20,000       20,000
Dr. Banerjee’s A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Jan.20 To Sales A/c   50,000 Jan. 27 By Bank A/c   49,000
        Jan. 27 By Discount Allowed A/c   1,000
      50,000       50,000
Dr. Dilip’s A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Jan.06 To Bank A/c   16,800 Jan.04 By Purchases A/c   32,000
Jan.06 To Discount Received A/c   200        
Jan.10 To Bills Payable A/c   15,000        
      32,000       32,000
Dr. Suresh’s A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Jan.13 To Bank A/c   58,800 Jan.04 By Purchases A/c   75,000
Jan.13 To Discount Received A/c   1,200        
Jan.31 To Balance c/d   15,000        
      75,000       75,000
Dr. Furniture A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Jan.25 To Bank A/c   40,000        
        Jan. 31 By Balance c/d   40,000
      40,000       40,000
Dr. Stationery A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Jan.28 To Cash A/c   400        
        Jan.31 By Balance c/d   400
      400       400
Dr. Drawings A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Jan.25 To Purchases A/c   2,000        
Jan.31 To Bank A/c   2,500 Jan. 31 By Balance c/d   4,500
      4,500       4,500
Dr. Typewriter A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Jan.25 To Bank A/c   10,000        
        Jan. 31 By Balance c/d   10,000
      10,000       10,000
Dr. Postage A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Jan.28 To Cash A/c   200        
        Jan. 31 By Balance c/d   200
      200       200
Dr. Bills Payable A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
        Jan.10 To Dilip’s A/c   15,000
Jan.31 To Balance c/d   15,000        
      15,000       15,000
Dr. Discount Allowed A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Apr.19 To Charu’s A/c   600        
        Apr. 30 By Balance c/d   600
      600       600
Dr. Anubhav’s A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
        Jan.27 To Sales Return A/c   5,000
        Jan.28 To Bills Receivable A/c   25,000
Jan.31 To Balance c/d   30,000        
      30,000       30,000
Dr. Bills Receivable A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Jan.28 To Anubhav’s A/c   25,000        
        Jan. 30 By Balance c/d   2,000
      25,000       25,000
Dr. Discount Allowed A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Jan.18 To Mohinder’s A/c   100        
Jan.27 To Banerjee’s A/c   1,000        
        Jan. 30 By Balance c/d   1,100
      1,100       1,100
Dr. Sales Return A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Jan.31 To Sundries as per Sales Return Book A/c   6,500        
        Jan. 30 By Balance c/d   6,500
      6,500       6,500
Dr. Discount Received A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
        Jan. 06 By Dilip’s A/c   200
        Jan. 13 By Suresh’s A/c   1,200
Jan.31 To Balance c/d   1,400        
      1,400       1,400
Trail Balance A/c
Particulars
J.F. Debit Credit
Cash A/c   6,300  
Bank A/c   1,15,900  
Capital A/c     2,00,000
Sales A/c     1,08,000
Purchases A/c   1,19,000  
Mohinder’s A/c   10,500  
Suresh’s A/c     15,000
Furniture A/c   40,000  
Typewriter A/c   10,000  
Stationery A/c   400  
Postage A/c   200  
Drawings A/c   4,500  
Bills Payable A/c     15,000
Bills Receivable A/c   25,000  
Sales Return A/c   6,500  
Discount Allowed A/c   1,100  
Discount Received A/c     1,400
    3,39,400 3,39,400

What is Ledger in accounting – explain its Types

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