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Question No 17 Chapter No 7 – USHA Publication 11 Class

By Shubham Sharma 13 Min Read December 5, 2021

Q-17 - CH-7 - USHA +1 Book 2020 - Solution

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Question No 17 Chapter No 7

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Table of Contents

The solution of Question No 17 Chapter No 7: –

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

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

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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

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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

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What is Ledger in accounting – explain its Types

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

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

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting

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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

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Chapter No. 9 – Other Subsidiary Books

Chapter No. 10 – Journal Proper

Chapter No. 11 – Trial Balance

Chapter No. 12 – Bank Reconciliation Statement

Chapter No. 13 – Depreciation

Chapter No. 14 – Provisions and Reserves

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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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Shubham Sharma December 22, 2020

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