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Question No 2 Chapter No 8
Journalise the following transactions of Mr. Rahul
2018 | Rs. | |
Jan. 1 | Rahul started the business with cash | 1,00,000 |
Jan. 2 | Paid into bank | 60,000 |
Jan. 3 | Bought goods from M/s Singh & Co. on credit | 20,000 |
Jan. 3 | Paid Cartage | 300 |
Jan. 4 | Purchased Furniture | 2,000 |
Jan. 4 | Placed an order for HP Printer for Rs 15,000 amount Advance | 5,000 |
Jan. 4 | Purchased Calculator | 1,000 |
Jan. 4 | Purchased computer through cheque | 13,000 |
Jan. 6 | Paid for postage | 150 |
Jan. 8 | Sold goods for cash | 4,000 |
Jan. 9 | Sold goods on credit to M/s. Sharda & Co. | 10,000 |
Jan. 9 | Paid Cartage | 200 |
Jan. 15 | Paid to M/s Singh & Co. on Account | 17,500 |
Jan. 25 | Sold goods to M/s Ray & Co. | 5,600 |
Jan. 27 | Received cheque from M/s Sharda & Co. in full settlement of the amount due from them | 9,750 |
Jan. 31 | Paid for electricity charges | 1,000 |
Jan. 31 | Paid Salary | 1,500 |
Jan. 31 | Paid rent of building by cheque, half of the building is used by the proprietor for residential use | 5,000 |
Jan. 31 | Drew for private use | 3,500 |
Solution of Question No 2 Chapter No 8: –
In the books of Mr. Rahul
Date | Particulars | L.F. | Debit | Credit | |
2018 | |||||
Jan. 1 | Cash A/c | Dr. | 1,00,000 | ||
To Capital A/c | 1,00,000 | ||||
(Being Rahul started business with cash) | |||||
Jan. 2 | Bank A/c | Dr. | 60,000 | ||
To Cash A/c | 60,000 | ||||
(Being Cash paid into bank) | |||||
Jan. 3 | Purchase A/c | Dr. | 20,000 | ||
To M/s Singh & Co. A/c | 20,000 | ||||
(Being goods purchased from M/s Singh & Co. on credit) | |||||
Jan. 3 | Cartage A/c | Dr. | 300 | ||
To Cash A/c | 300 | ||||
(Being paid cartage) | |||||
Jan. 4 | Furniture A/c | Dr. | 2,000 | ||
To Cash A/c | 2,000 | ||||
(Being furniture purchased) | |||||
Jan. 4 | Advance to Supplier A/c | Dr. | 5,000 | ||
To Cash A/c | 5,000 | ||||
(Being Placed an order for HP Printer for Rs 15,000 amount Advance) | |||||
Jan. 4 | Stationery A/c | Dr. | 1,000 | ||
To Cash A/c | 1,000 | ||||
(Being Purchased Calculator) | |||||
Jan. 4 | Computer A/c | Dr. | 13,000 | ||
To Bank A/c | 13,000 | ||||
(Being purchased computer through cheque) | |||||
Jan. 6 | Postage A/c | Dr. | 150 | ||
To cash A/c | 150 | ||||
(Being Paid for postage) | |||||
Jan. 8 | Cash A/c | Dr. | 4,000 | ||
To Sales A/c | 4,000 | ||||
(Being sold goods for cash) | |||||
Jan. 9 | M/s Sharda & Co. A/c | Dr. | 10,000 | ||
To Sales A/c | 10,000 | ||||
(Being Sold goods on credit to M/s. Sharda & Co.) | |||||
Jan. 9 | Cartage A/c | Dr. | 200 | ||
To Cash A/c | 200 | ||||
(Being cartage paid) | |||||
Jan. 15 | M/s Singh & Co. A/c | Dr. | 17,500 | ||
To Cash A/c | 17,500 | ||||
(Being Paid to M/s Singh & Co. on Account) | |||||
Jan. 25 | M/s Ray & Co. A/c | Dr. | 5,600 | ||
To Sales A/c | 5,600 | ||||
(Being Sold goods to M/s Ray & Co.) | |||||
Jan. 25 | Bank A/c | Dr. | 9,750 | ||
Discount Allowed A/c | 250 | ||||
To M/s Sharda & Co. A/c | 10,000 | ||||
(Being payment received from M/s Sharda & Co.) | |||||
Jan. 31 | Electricity charges A/c | Dr. | 1,000 | ||
To cash A/c | 1,000 | ||||
(Being Electricity charges paid) | |||||
Jan. 31 | Salary A/c | Dr. | 1,500 | ||
To Cash A/c | 1,500 | ||||
(Being Salary paid) | |||||
Jan. 31 | Rent A/c | Dr. | 2,500 | ||
Drawing A/c | Dr. | 2,500 | |||
To Cash A/c | 5,000 | ||||
(Being Paid rent of building by cheque, half of the building is used by the proprietor for residential use ) | |||||
Jan. 31 | Drawing A/c | Dr. | 3,500 | ||
To Cash A/c | 3,500 | ||||
(Being Drew for private use) | |||||
Explanation of All Transactions with images: –
This is not a part of the solution, So you don’t have to write it in the exam. So, why we explained if it is not needed. Because This explanation will help you to understand all transactions with logic and you don’t need to remember all the transactions but just understand and remember the logic use behind it.
Transaction No. 1
![Jan. 1 Rahul started business with cash 1,00,000 - Transaction No. 1 Question No.2 - Chapter No.8 - T.S. Grewal +1 Book 2019](https://tutorstips.com/wp-content/uploads/2019/11/Transaction-No.-1-Question-No.2-Chapter-No.8-T.S.-Grewal-1-Book-2019.png)
Transaction No. 1 Question No.2 – Chapter No.8 – T.S. Grewal +1 Book 2019
Name of Account | Type of Account | Rule which will Applicable | What happen in the transaction | Rule applied | According to Rule It will be |
Cash | Assets | Real Account | Cash received by business | Cash Comes In | Debit |
Capital | Personal | Personal Account | Giving cash to business | Owner is Giver | Credit |
Transaction No. 2
![Jan. 2 Paid into bank 60,000 - Transaction No. 2 Question No.2 - Chapter No.8 - T.S. Grewal +1 Book 2019](https://tutorstips.com/wp-content/uploads/2019/11/Transaction-No.-2-Question-No.2-Chapter-No.8-T.S.-Grewal-1-Book-2019.png)
Name of Account | Type of Account | Rule which will Applicable | What happen in the transaction | Rule applied | According to Rule It will be |
Cash | Assets | Real Account | Cash giving by business | Cash goes out | Credit |
Bank | Personal | Personal Account | Receiving cash from business | Bank is Receiver | Debit |
Transaction No. 3
![Jan. 3 Bought goods from M/s Singh & Co. on credit 20,000 -Transaction No. 3 Question No.2 - Chapter No.8 - T.S. Grewal +1 Book 2019](https://tutorstips.com/wp-content/uploads/2019/11/Transaction-No.-3-Question-No.2-Chapter-No.8-T.S.-Grewal-1-Book-2019.png)
Name of Account | Type of Account | Rule which will Applicable | What happen in the transaction | Rule applied | According to Rule It will be |
Purchase (Goods) | Assets | Real Account | Goods received by business | Goods comes in | Debit |
Singh & Co | Artificial Person | Personal Account | Giving their goods | Giver | Credit |
Transaction No. 4
![Jan. 3 Paid Cartage 300 - Transaction No. 4 Question No.2 - Chapter No.8 - T.S. Grewal +1 Book 2019](https://tutorstips.com/wp-content/uploads/2019/11/Transaction-No.-4-Question-No.2-Chapter-No.8-T.S.-Grewal-1-Book-2019.png)
Name of Account | Type of Account | Rule which will Applicable | What happen in the transaction | Rule applied | According to Rule It will be |
Cartage | Expenses | Nominal Account | Expenses Incurred | All Exp. or Loss | Debit |
Cash | Assets | Real Account | Cash paid by business | Cash goes out | Credit |
Transaction No. 5
![Jan. 4 Purchased Furniture 2000 - Transaction No. 5 Question No.2 - Chapter No.8 - T.S. Grewal +1 Book 2019](https://tutorstips.com/wp-content/uploads/2019/11/Transaction-No.-5-Question-No.2-Chapter-No.8-T.S.-Grewal-1-Book-2019.png)
Name of Account | Type of Account | Rule which will Applicable | What happen in the transaction | Rule applied | According to Rule It will be |
Furniture | Assets | Real Account | Furniture purchased | Comes in | Debit |
Cash | Assets | Real Account | Cash paid by business | Cash goes out | Credit |
Transaction No. 6
![Jan. 4 Placed an order for HP Printer for Rs 15,000 amount Advance 5000 - Transaction No. 6 Question No.2 - Chapter No.8 - T.S. Grewal +1 Book 2019](https://tutorstips.com/wp-content/uploads/2019/11/Transaction-No.-6-Question-No.2-Chapter-No.8-T.S.-Grewal-1-Book-2019.png)
Name of Account | Type of Account | Rule which will Applicable | What happen in the transaction | Rule applied | According to Rule It will be |
Adv. to supplier | Person | Personal Account | Cash received by supplier | Receiver | Debit |
Cash | Assets | Real Account | Cash paid by business | Cash goes out | Credit |
Transaction No. 7
![Jan. 4 Purchased Calculator 1000 - ransaction No. 7 Question No.2 - Chapter No.8 - T.S. Grewal +1 Book 2019](https://tutorstips.com/wp-content/uploads/2019/11/Transaction-No.-7-Question-No.2-Chapter-No.8-T.S.-Grewal-1-Book-2019.png)
Name of Account | Type of Account | Rule which will Applicable | What happen in the transaction | Rule applied | According to Rule It will be |
Stationery | Expenses | Nominal Account | Expenses Incurred | All Exp. or Loss | Debit |
Cash | Assets | Real Account | Cash paid by business | Cash goes out | Credit |
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Transaction No. 8
![Jan. 4 Purchased computer through cheque 13000 - Transaction No. 8 Question No.2 - Chapter No.8 - T.S. Grewal +1 Book 2019](https://tutorstips.com/wp-content/uploads/2019/11/Transaction-No.-8-Question-No.2-Chapter-No.8-T.S.-Grewal-1-Book-2019.png)
Name of Account | Type of Account | Rule which will Applicable | What happen in the transaction | Rule applied | According to Rule It will be |
Computer | Assets | Real Account | Computer purchased | computer comes in | Debit |
Bank A/c | Artificial Person | Personal Account | Cash paid by business by cheque | Bank Giver | Credit |
Transaction No. 9
![Jan. 6 Paid for postage 150 - Transaction No. 9 Question No.2 - Chapter No.8 - T.S. Grewal +1 Book 2019](https://tutorstips.com/wp-content/uploads/2019/11/Transaction-No.-9-Question-No.2-Chapter-No.8-T.S.-Grewal-1-Book-2019.png)
Name of Account | Type of Account | Rule which will Applicable | What happen in the transaction | Rule applied | According to Rule It will be |
Postage | Expenses | Nominal Account | Expenses Incurred | All Exp. or Loss | Debit |
Cash | Assets | Real Account | Cash paid by business | Cash goes out | Credit |
Transaction No. 10
![Jan. 8 Sold goods for cash 4000 - transaction No. 10 Question No.2 - Chapter No.8 - T.S. Grewal +1 Book 2019](https://tutorstips.com/wp-content/uploads/2019/11/Transaction-No.-10-Question-No.2-Chapter-No.8-T.S.-Grewal-1-Book-2019.png)
Name of Account | Type of Account | Rule which will Applicable | What happen in the transaction | Rule applied | According to Rule It will be |
Sales a/c (Goods) | Assets | Real Account | Goods giving by Business | Goods Goes out | Credit |
Cash | Assets | Real Account | Cash received by business | Cash Comes In | Debit |
Transaction No. 11
![Jan. 9 Sold goods on credit to M/s. Sharda & Co. 10000 - Transaction No. 11 Question No.2 - Chapter No.8 - T.S. Grewal +1 Book 2019](https://tutorstips.com/wp-content/uploads/2019/11/Transaction-No.-11-Question-No.2-Chapter-No.8-T.S.-Grewal-1-Book-2019.png)
Name of Account | Type of Account | Rule which will Applicable | What happen in the transaction | Rule applied | According to Rule It will be |
Sales a/c (Goods) | Assets | Real Account | Goods giving by Business | Goods Goes out | Credit |
M/s. Sharda & Co. | Artificial Person | Personal Account | Goods received by M/s. Sharda & Co. | M/s Singh & Co. is Receiver | Debit |
Transaction No. 12
![Jan. 9 Paid Cartage 200 - Transaction No. 12 Question No.2 - Chapter No.8 - T.S. Grewal +1 Book 2019](https://tutorstips.com/wp-content/uploads/2019/11/Transaction-No.-12-Question-No.2-Chapter-No.8-T.S.-Grewal-1-Book-2019.png)
Name of Account | Type of Account | Rule which will Applicable | What happen in the transaction | Rule applied | According to Rule It will be |
Cartage | Expenses | Nominal Account | Expenses Incurred | All Exp. or Loss | Debit |
Cash | Assets | Real Account | Cash paid by business | Cash goes out | Credit |
Transaction No. 13
![Jan. 15 Paid to M/s Singh & Co. on Account 17500 - Transaction No. 13 Question No.2 - Chapter No.8 - T.S. Grewal +1 Book 2019](https://tutorstips.com/wp-content/uploads/2019/11/Transaction-No.-13-Question-No.2-Chapter-No.8-T.S.-Grewal-1-Book-2019.png)
Name of Account | Type of Account | Rule which will Applicable | What happen in the transaction | Rule applied | According to Rule It will be |
Cash | Assets | Real Account | Cash paid by business | Cash goes out | Credit |
Singh & Co | Artificial Person | Personal Account | receiving cash | Receiver | Debit |
Transaction No. 14
![Jan. 25 Sold goods to M/s Ray & Co. 5600 Transaction No. 14 Question No.2 - Chapter No.8 - T.S. Grewal +1 Book 2019](https://tutorstips.com/wp-content/uploads/2019/11/Transaction-No.-14-Question-No.2-Chapter-No.8-T.S.-Grewal-1-Book-2019.png)
Name of Account | Type of Account | Rule which will Applicable | What happen in the transaction | Rule applied | According to Rule It will be |
Sales a/c (Goods) | Assets | Real Account | Goods giving by Business | Goods Goes out | Credit |
M/s Ray & Co. | Artificial Person | Personal Account | Goods received by M/s Ray & Co. | M/s Ray & Co. is Receiver | Debit |
Transaction No. 15
![Jan. 27 Received cheque from M/s Sharda & Co. in full settlement of amount due from them 9750 - Transaction No. 15 Question No.2 - Chapter No.8 - T.S. Grewal +1 Book 2019](https://tutorstips.com/wp-content/uploads/2019/11/Transaction-No.-15-Question-No.2-Chapter-No.8-T.S.-Grewal-1-Book-2019.png)
Name of Account | Type of Account | Rule which will Applicable | What happen in the transaction | Rule applied | According to Rule It will be |
Bank A/c | Artificial Person | Personal Account | Payment received by cheque | Bank is Receiver | Debit |
M/s. Sharda & Co. | Artificial Person | Personal Account | Paying cash by M/s. Sharda & Co. | M/s Singh & Co. is Giver | Credit |
Transaction No. 16
![Jan. 31 Paid for electricity charges 1000 -Transaction No. 16 Question No.2 - Chapter No.8 - T.S. Grewal +1 Book 2019](https://tutorstips.com/wp-content/uploads/2019/11/Transaction-No.-16-Question-No.2-Chapter-No.8-T.S.-Grewal-1-Book-2019.png)
Name of Account | Type of Account | Rule which will Applicable | What happen in the transaction | Rule applied | According to Rule It will be |
Electricity Charges A/c | Expenses | Nominal Account | Expenses Incurred | All Exp. or Loss | Debit |
Cash | Assets | Real Account | Cash paid by business | Cash goes out | Credit |
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Transaction No. 17
![Jan. 31 Paid Salary 1500 - Transaction No. 17 Question No.2 - Chapter No.8 - T.S. Grewal +1 Book 2019](https://tutorstips.com/wp-content/uploads/2019/11/Transaction-No.-17-Question-No.2-Chapter-No.8-T.S.-Grewal-1-Book-2019.png)
Name of Account | Type of Account | Rule which will Applicable | What happen in the transaction | Rule applied | According to Rule It will be |
Salaries A/c | Expenses | Nominal Account | Expenses Incurred | All Exp. or Loss | Debit |
Cash A/c | Assets | Real Account | Cash paid by business | Cash goes out | Credit |
Transaction No. 18
![Jan. 31 Paid rent of building by cheque, half of the building is used by the proprietor for residential use 5000 - Transaction No. 18 Question No.2 - Chapter No.8 - T.S. Grewal +1 Book 2019](https://tutorstips.com/wp-content/uploads/2019/11/Transaction-No.-18-Question-No.2-Chapter-No.8-T.S.-Grewal-1-Book-2019.png)
Name of Account | Type of Account | Rule which will Applicable | What happen in the transaction | Rule applied | According to Rule It will be |
Rent A/c | Expenses | Nominal Account | Expenses Incurred | All Exp. or Loss | Debit |
Drawing A/c | Person (Owner) | Personal Account | Rent of building paid used personal | owner received benefits | Debit |
Bank A/c | Artificial Person | Personal Account | Cash paid by business by cheque | Bank Giver | Credit |
Transaction No. 19
![Jan. 31 Drew for private use 3,500 - Transaction No. 19 Question No.2 - Chapter No.8 - T.S. Grewal +1 Book 2019](https://tutorstips.com/wp-content/uploads/2019/11/Transaction-No.-19-Question-No.2-Chapter-No.8-T.S.-Grewal-1-Book-2019.png)
Name of Account | Type of Account | Rule which will Applicable | What happen in the transaction | Rule applied | According to Rule It will be |
Drawing A/c | Person (Owner) | Personal Account | Cash withdrawal for personal use | owner receiver | Debit |
Cash A/c | Assets | Real Account | Cash paid by business | Cash goes out | Credit |
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T.S. Grewal’s Double Entry Book Keeping (Class +1) – Solution
Chapter No. 1 – Introduction to Accounting
Chapter No. 2 – Basic Accounting Terms
Chapter No. 3 – Theory Base of Accounting, Accounting Standards and International Financial Reporting Standards(IFRS)
Chapter No. 4 – Bases of Accounting
Chapter No. 5 – Accounting Equation
Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
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Chapter No. 7 – Origin of Transactions – Source Documents and Preparation of Vouchers
Chapter No. 10 – Special Purpose Books I – Cash Book
Chapter No. 11 – Special Purpose Books II – Other Books
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Chapter No. 12 – Bank Reconciliation Statement
Chapter No. 13 – Trial Balance
Chapter No. 15 – Provisions and Reserves
Chapter No. 16 – Accounting for Bills of Exchange
Chapter No. 17 – Rectification of Errors
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Chapter No. 18 – Financial Statements of Sole Proprietorship
Chapter No. 19 – Adjustments in preparation of Financial Statements
Chapter No. 20 – Accounts from incomplete Records – Single Entry System
Chapter No. 21 – Computers in Accounting
Chapter No. 22 – Accounting Software – Tally
Check out T.S. Grewal’s +1 Book 2019 @ Official Website of Sultan Chand Publication
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T.S. Grewal’s Double Entry Book Keeping
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