Question No 17 Chapter No 7 – USHA Publication 11 Class

Posted by By Shubham Sharma 13 Min Read December 5, 2021
Question No 17 Chapter No 7
Q-17 - CH-7 - USHA +1 Book 2020 - Solution

Question No 17 Chapter No 7

17. Pass journal entries from the following transaction in the book of Kartik and post them into the ledger

Date Particular Amount
2017    
Dec. 1 Started business with cash  20,000
Dec. 3 Purchased goods for cash  5,000
Dec. 4 Cash received from Dilshan 3,000
Dec. 6 Cash deposited into bank 2,500
Dec. 7 Cash sale 1,800
Dec. 9 Salary purchased from Muralitharan 6,000
Dec. 12 Paid cash for Stationary 700
Dec. 18 Paid cash to Mubarak in full settlement of Rs300 290
Dec. 21 Paid salaries for the month  4,000
Dec. 24 Interest on capital 300
Dec. 29 Paid to Muralitharan in full settlement 5,850

The solution of Question No 17 Chapter No 7: –

Journal

Date Particulars
 L.F. Debit Credit
2017          
Dec.1 Cash A/c Dr.   20,000  
  To Capital A/c       20,000
  (Being business started with cash)      
         
Dec.3 Purchases A/c Dr.   5,000  
  To Cash A/c     5,000
  (Being goods purchased for cash)      
         
Dec.4 Cash A/c Dr.   3,000  
  To Dilshan A/c     3,000
  (Being cash received from Dilshan)      
         
Dec.6 Bank A/c Dr.   2,500  
  To Cash A/c     2,500
  (Being cash deposited into the bank )      
         
Dec.7 Cash A/c Dr.   1,800  
  To Sale A/c     1,800
  (Being sold goods for cash)      
         
Dec.9 Purchases A/c Dr.   6,000  
  To Muralitharan A/c     6,000
  (Being goods purchased on credit )      
         
Dec.12 Stationery A/c Dr.   700  
  To Cash A/c     700
  (Being stationery purchased for cash)      
         
Dec.18 Mubarak A/c Dr.   300  
  To Cash A/c     290
  To Discount received A/c     10
  (Being cash paid to Mubarak)      
         
Dec.21 Salaries A/c Dr.   4,000  
  To Cash A/c     4,000
  (Being salaries paid by cash)      
         
Dec.24 Interest on capital A/c Dr.   300  
  To Capital A/c     300
  (Being interest on capital provided)      
         
Dec.29 Muralitharan A/c Dr.   6,000  
  To Cash A/c     5,850
  To Discount received A/c     150
  (Being cash paid in full settlement)      
         

 

Dr. Cash A/c Cr.
Date Particulars
 J.F. Amount Date Particulars
 J.F. Amount
2017       2017      
Dec. 1 To Capital A/c   20,000 Dec. 3 By Purchases A/c   5,000
Dec. 4 To Dilshan A/c   3,000 Dec. 6 By Bank A/c   2,000
Dec. 9 To Sale A/c   1,800 Dec. 12 By stationery A/c   700
        Dec. 18 By Mubarak A/c   290
        Dec. 21 By Salaries A/c   4,000
        Dec. 18 By Muralitharan A/c   5,850
        Dec. 31 By Balance c/d   6,460
      24,800       24,800

 

Dr. Capital A/c Cr.
Date Particulars
 J.F. Amount Date Particulars
 J.F. Amount
2017       2017      
        Dec. 1 By Cash A/c   20,000
        Dec. 24 By Interest on Capital A/c   300
Dec. 31 To Balance c/d   20,300        
      20,300       20,300

 

Dr. Purchase A/c Cr.
Date Particulars
 J.F. Amount Date Particulars
 J.F. Amount
2017       2017      
Dec. 3 To Cash A/c   5,000        
Dec. 9 To muralitharan A/c   6,000        
               
      11,000        

 

Dr. sales A/c Cr.
Date Particulars
 J.F. Amount Date Particulars
 J.F. Amount
2017       2017      
        Dec. 30 By Cash A/c   1,800
              1,800

 

Dr. Muralitharan A/c Cr.
Date Particulars
 J.F. Amount Date Particulars
 J.F. Amount
2017       2017      
Dec. 29 To Cash A/c   5,850 Dec. 4 By Purchases A/c   6,000
Dec. 29 To Discount A/c   150        
      6,000       6,000

 

Dr. Dilshan A/c Cr.
Date Particulars
 J.F. Amount Date Particulars
 J.F. Amount
2017       2017      
Dec. 31 To Balance c/d   3,000 Dec. 4 By Cash A/c   3,000
      3,000       3,000

 

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Dr. Bank A/c Cr.
Date Particulars
 J.F. Amount Date Particulars
 J.F. Amount
2017       2017      
Dec. 31 To Cash A/c   2,500 Dec. 31 By Balance c/d   2,500
      2,500       2,500

 

Dr. Stationery A/c Cr.
Date Particulars
 J.F. Amount Date Particulars
 J.F. Amount
2017       2017      
Dec. 12 To Cash A/c   700        
      700        

 

Dr. Mubarak A/c Cr.
Date Particulars
 J.F. Amount Date Particulars
 J.F. Amount
2017       2017      
Dec. 18 To Cash A/c   290 Dec. 4 By balance c/d   300
Dec. 18 To Discount A/c   10        
      300       300

 

Dr. Discount received A/c Cr.
Date Particulars
 J.F. Amount Date Particulars
 J.F. Amount
2017       2017      
        Dec. 18 By Mubarak A/c   10
        Dec. 29 By MuralitharanA/c   150
              160

 

Dr. Salaries A/c Cr.
Date Particulars
 J.F. Amount Date Particulars
 J.F. Amount
2017       2017      
Dec. 21 To Cash A/c   4,000        
      4,000        

 

Dr. Interest on capital A/c Cr.
Date Particulars
 J.F. Amount Date Particulars
 J.F. Amount
2017       2017      
Dec. 24 To Capital A/c   300        
      300        

 

What is Ledger in accounting – explain its Types

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Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Origin of Transactions

Chapter No. 4 – Vouchers and transactions

Chapter No. 5 – Journal

Chapter No. 6 – Accounting for Goods and Services Tax(GST)

Chapter No. 7 – Ledger

Chapter No. 8 – Cash Book

Chapter No. 9 – Other Subsidiary Books

Chapter No. 10 – Journal Proper

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Chapter No. 11 – Trial Balance

Chapter No. 12 – Bank Reconciliation Statement

Chapter No. 13 – Depreciation

Chapter No. 14 – Provisions and Reserves 

Chapter No. 15 – Bills of Exchange

Chapter No. 16 – Rectification of Errors 

Chapter No. 17 – Financial Statements – (Without Adjustments)

Chapter No. 18 – Financial Statements – (With Adjustments)

 

 

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