Question No 2 Chapter No 8 – T.S. Grewal 11 Class

Question No. 2 - Chapter No.8 - T.S. Grewal +1 Book 2019

Question No 2 Chapter No 8

Journalise the following transactions of Mr. Rahul

2018   Rs.
Jan. 1 Rahul started 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 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 

Transaction No. 1 Question No.2 Chapter No.8 T.S. Grewal 1 Book 2019 - Question No 2 Chapter No 8 - T.S. Grewal 11 Class
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

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 

Transaction No. 2 Question No.2 Chapter No.8 T.S. Grewal 1 Book 2019 - Question No 2 Chapter No 8 - T.S. Grewal 11 Class
Jan. 2 Paid into bank 60,000 – Transaction No. 2 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 giving by business

Cash goes out

Credit

Bank

 Personal

 Personal Account

 Receiving cash from business

Bank is Receiver

Debit

Transaction No. 3

Transaction No. 3 Question No.2 Chapter No.8 T.S. Grewal 1 Book 2019 - Question No 2 Chapter No 8 - T.S. Grewal 11 Class
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

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

Transaction No. 4 Question No.2 Chapter No.8 T.S. Grewal 1 Book 2019 - Question No 2 Chapter No 8 - T.S. Grewal 11 Class
Jan. 3 Paid Cartage 300 – Transaction No. 4 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

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

Transaction No. 5 Question No.2 Chapter No.8 T.S. Grewal 1 Book 2019 - Question No 2 Chapter No 8 - T.S. Grewal 11 Class
Jan. 4 Purchased Furniture 2000 – Transaction No. 5 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

Furniture

Assets

Real Account

Furniture purchased

Comes in

Debit

 Cash

 Assets

 Real Account

 Cash paid by business

 Cash goes out

Credit

Transaction No. 6

Transaction No. 6 Question No.2 Chapter No.8 T.S. Grewal 1 Book 2019 - Question No 2 Chapter No 8 - T.S. Grewal 11 Class
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

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

Transaction No. 7 Question No.2 Chapter No.8 T.S. Grewal 1 Book 2019 - Question No 2 Chapter No 8 - T.S. Grewal 11 Class
Jan. 4 Purchased Calculator 1000 – ransaction No. 7 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

Stationery

Expenses

Nominal Account

Expenses Incurred

All Exp. or Loss

Debit

 Cash

 Assets

 Real Account

 Cash paid by business

 Cash goes out

Credit

Transaction No. 8

Transaction No. 8 Question No.2 Chapter No.8 T.S. Grewal 1 Book 2019 - Question No 2 Chapter No 8 - T.S. Grewal 11 Class
Jan. 4 Purchased computer through cheque 13000 – Transaction No. 8 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

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

Transaction No. 9 Question No.2 Chapter No.8 T.S. Grewal 1 Book 2019 - Question No 2 Chapter No 8 - T.S. Grewal 11 Class
Jan. 6 Paid for postage 150 – Transaction No. 9 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

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

Transaction No. 10 Question No.2 Chapter No.8 T.S. Grewal 1 Book 2019 - Question No 2 Chapter No 8 - T.S. Grewal 11 Class
Jan. 8 Sold goods for cash 4000 – transaction No. 10 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

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

Transaction No. 11 Question No.2 Chapter No.8 T.S. Grewal 1 Book 2019 - Question No 2 Chapter No 8 - T.S. Grewal 11 Class
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

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

Transaction No. 12 Question No.2 Chapter No.8 T.S. Grewal 1 Book 2019 - Question No 2 Chapter No 8 - T.S. Grewal 11 Class
Jan. 9 Paid Cartage 200 – Transaction No. 12 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

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

Transaction No. 13 Question No.2 Chapter No.8 T.S. Grewal 1 Book 2019 - Question No 2 Chapter No 8 - T.S. Grewal 11 Class
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

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

Transaction No. 14 Question No.2 Chapter No.8 T.S. Grewal 1 Book 2019 - Question No 2 Chapter No 8 - T.S. Grewal 11 Class
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

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

Transaction No. 15 Question No.2 Chapter No.8 T.S. Grewal 1 Book 2019 - Question No 2 Chapter No 8 - T.S. Grewal 11 Class
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

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

Transaction No. 16 Question No.2 Chapter No.8 T.S. Grewal 1 Book 2019 - Question No 2 Chapter No 8 - T.S. Grewal 11 Class
Jan. 31 Paid for electricity charges 1000 -Transaction No. 16 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

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

Transaction No. 17

Transaction No. 17 Question No.2 Chapter No.8 T.S. Grewal 1 Book 2019 - Question No 2 Chapter No 8 - T.S. Grewal 11 Class
Jan. 31 Paid Salary 1500 – Transaction No. 17 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

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

Transaction No. 18 Question No.2 Chapter No.8 T.S. Grewal 1 Book 2019 - Question No 2 Chapter No 8 - T.S. Grewal 11 Class
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

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

Transaction No. 19 Question No.2 Chapter No.8 T.S. Grewal 1 Book 2019 - Question No 2 Chapter No 8 - T.S. Grewal 11 Class
Jan. 31 Drew for private use 3,500 – Transaction No. 19 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

 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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