Question No 19 Chapter No 7 – USHA Publication 11 Class

Question No 19 Chapter No 7

Question No 19 Chapter No 7

19. Journalese the following transaction, post them in the ledger and extract balances:

Date Particular
2018  
Apr. 1 Santosh started business with cash Rs 35,000 ; Machinery Rs 25,000 and furniture Rs 15,000
Apr. 10 Machinery costing Rs18,000 sold for Rs 20,000
Apr. 26 Furniture costing Rs 10,000 sold for Rs 9,000
May. 12 Cash is withdrawn by the proprietor for personal use Rs 16,600
May. 31 Furniture costing Rs 4,000 withdrawn by the proprietor for personnel use.

 

The solution of Question No 19 Chapter No 7: –

Date Particulars
L.F. Debit Credit
2018          
Apr.1 Cash A/c Dr.   35,000  
  Furniture A/c Dr.   15,000  
  Machinery A/c Dr.   25,000  
  To Capital A/c       75,000
  (Being business started with cash; machinery and furniture)      
         
Apr.10 Cash A/c Dr.   20,000  
  To Machinery A/c     18,000
  To Profit on sale of machinery A/c     2,000
  (Being cash deposited into the bank )      
         
Apr.26 Cash A/c Dr.   9,000  
  Loss on sale of furniture A/c Dr.   1,000  
  To Furniture A/c     10,000
  (Being furniture sold for cash at loss)      
         
May.12 Drawing A/c Dr.   16,600  
  To Cash A/c     16,600
  (Being cash withdrawn by proprietor)      
         
May.31 Drawing A/c Dr.   4,000  
  To Furniture A/c     4,000
  (Being furniture withdrawn by proprietor)      
         

 

Dr. Cash A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Apr. 1 To Capital A/c   35,000 Apr. 12 By Drawings A/c   16,600
Apr. 10 To Machinery A/c   18,000        
Apr. 10 To Profit on sale of machinery A/c   2,000        
Apr. 26 To Furniture A/c   9,000 Apr. 30 By Balance c/d   47,400
      64,000       64,000

 

Dr. Capital A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
        Apr. 1 By Cash A/c   35,000
        Apr. 1 By Furniture A/c   15,000
        Apr. 1 By Machinery A/c   25,000
Apr. 30 To Balance c/d   75,000        
      75,000       75,000

 

Dr. Furniture A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Apr. 1 To Capital A/c   15,000 Apr. 1 By Cash A/c   9,000
        Apr. 24 By loss on sale of furniture A/c   1,000
        Apr. 30 By Balance c/d   5,000
      15,000       15,000

 

Dr. Machinery A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Apr. 1 To Capital A/c   25,000 Apr. 10 By Cash A/c   18,000
        Apr. 30 By Balance c/d   18,000
      25,000       25,000

 

Dr. Profit on sale of Machinery A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Apr. 30 To balance c/d   2,000 Apr. 10 By Cash A/c   2,000
      2,000       2,000

 

Dr. Loss on sale of furniture A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Apr. 26 To Furniture A/c   1,000        
        Apr. 31 By Balance c/d   1,000
      1,000       1,000

 

Dr. Drawing A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Apr. 12 To Cash A/c   16,600        
May. 31 To Furniture A/c   4,000        
        Apr. 30 By Balance c/d   20,600
      20,600       20,600

 

What is Ledger – Explained with Example

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

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Vouchers and transactions

Chapter No. 4 – Journal

Chapter No. 5 – Ledger

Chapter No. 6 – Cash Book

Chapter No. 7 – Other Subsidiary Books

Chapter No. 8 – Journal Proper

Chapter No. 9 – Trial Balance 

Chapter No. 10 – Bank Reconciliation Statement

Chapter No. 11 – Depreciation

Chapter No. 12 – Provisions and Reserves 

Chapter No. 13 – Bills of Exchange

Chapter No. 14 – Rectification of Errors 

Chapter No. 15 – Financial Statements – (Without Adjustments)

Chapter No. 16 – Financial Statements – (With Adjustments)

 

 

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