Question No 20 Chapter No 7 – USHA Publication 11 Class

Question No 20 Chapter No 7

Question No 20 Chapter No 7

20. Recode the following transactions in the journal of Pranab Mukherjee and post them into Ledger

Date  
2018  
Apr. 1 Commenced business with cash Rs 6,00,000
Jun. 21 Deposited cash into bank Rs 2,00,000
Jul. 24 Purchased goods costing Rs 80,000 plus 2.5% CGST and SGST in cash
Aug. 18 Sold goods for Rs 50,000 to Indian outside the state at 5% GST
Sep. 16 Purchased furniture costing Rs 32,000 plus, 2.5% CGST and SGST by cheque
Oct. 25 Goods are given as charity Rs 6,000(originally purchased at 2.5% CGST and SGST)
Dec. 15 Paid electricity bill Rs 5,000
2019  
Jan. 23 Purchased motorcar for Rs 2,00,000 plus 14% CGST and SGST
Mar. 31 Provide Rs 3,000 depreciation on furniture.

 

The solution of Question No 20 Chapter No 7: –

Date Particulars
L.F. Debit Credit
2018          
Apr.1 Cash A/c Dr.   6,00,000  
  To Capital A/c       6,00,000
  (Being business started with cash)      
         
Jun.21 Bank A/c Dr.   2,00,000  
  To Cash A/c     2,00,000
  (Being deposited cash into the bank)      
         
Jul.24 Purchases A/c Dr.   80,000  
  Input CGST A/c Dr.   2,000  
  Input SGST A/c Dr.   2,000  
  To Cash A/c     82,000
  (Being bought goods plus 2.5% CGST and SGST)      
         
Aug.18 Cash A/c Dr.   52,500  
  To Cash A/c     50,000
  Output IGST A/c     2,500
  (Being sale goods plus 2.5% CGST and SGST)      
         
Sep.16 Furniture A/c Dr.   32,000  
  Input CGST A/c Dr.   800  
  Input SGST A/c Dr.   800  
  To Bank A/c     31,600
  (Being bought goods plus 2.5% CGST and SGST paid by cheque)      
         
Oct.25 Charity A/c Dr.   6,300  
  To Purchases A/c     6,000
  To Input CGST A/c     150
  To Input SGST A/c     150
  (Being goods donated plus 2.5% CGST and SGST)      
         
Dec.15 Charity A/c Dr.   5,000  
  To Cash A/c     5,000
  (Being paid electricity bill in cash )      
2019        
         
Jan.23 Motor Car A/c Dr.   2,00,000  
  Input CGST A/c Dr.   28,000  
  Input SGST A/c Dr.   28,000  
  To Cash A/c     2,56,000
  (Being bought motor car plus 14% CGST and SGST)      
         
Mar.31 Deprecation A/c Dr.   3,000  
  To Furniture A/c       3,000
  (Being charged deprecation on furniture)      
         

 

Dr. Cash A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Apr. 1 To Capital A/c   6,00,000 Jan. 21 By Bank A/c   2,00,000
Aug. 18 To Sale A/c   50,000 Jul. 24 By Purchases A/c   80,000
Aug. 18 To Input IGST A/c   2,500 Jul. 24 By Input CGST A/c   2,000
        Jul. 24 By Input SGST A/c   2,000
        Dec. 15 To Electricity bill A/c   5,000
        Jan. 23 By Motor Car A/c   2,00,000
        Jan. 23 By Input CGST A/c   28,000
        Jan. 23 By Input SGST A/c   28,000
        Mar. 31 By Balance c/d   1,07,500
      6,52,500       6,52,500

 

Dr. Capital A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
        Apr. 1 By Cash A/c   6,00,000
Mar. 31 To Balance c/d   6,00,000        
      6,00,000       6,00,000

 

Dr. Purchases A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Jan. 24 To Cash A/c   80,000 Oct. 25 By Charity A/c   6,000
        Mar. 31 By Balance c/d   74,000
      80,000       80,000

 

Dr. Sale A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
        Apr. 10 By Cash A/c   50,000
Mar. 31 To Balance c/d   50,000        
      50,000       25,000

 

Dr. Bank A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Jun. 21 To Cash A/c   2,00,000 Sep.16 By Furniture A/c   32,000
        Sep.16 By Input CGST A/c   800
        Sep.16 By Input SGST A/c   800
        Mar. 31 By Balance c/d   1,66,400
      2,00,000       2,00,000

 

Dr. Furniture A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Sep. 16 To Bank A/c   32,000 Apr. 10 By Depreciation A/c   3,000
        Mar. 31 By Balance c/d   29,000
      32,000       32,000

 

Dr. Charity A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Oct. 25 To Purchases A/c   6,000        
Oct. 25 To Input CGST A/c   150        
Oct. 25 To Input SGST A/c   150        
        Mar. 31 By Balance c/d   6,300
      6,300       6,300

 

Dr. Input CGST A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Jul. 24 To Cash A/c   2,000 Apr. 10 By Charity A/c   150
Sep. 16 To Bank A/c   800        
Jan. 23 To Cash A/c   28,000        
        Mar. 31 By Balance c/d   30,650
      30,800       30,800

 

Dr. Input SGST A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Jul. 24 To Cash A/c   2,000 Apr. 10 By Charity A/c   150
Sep. 16 To Bank A/c   800        
Jan. 23 To Cash A/c   28,000        
        Mar. 31 By Balance c/d   30,650
      30,800       30,800

 

Dr. Output IGST A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
        Aug. 18 By Cash A/c   2,500
Mar. 31 To Balance c/d   2,500        
      2,500       2,500

 

Dr. Electricity bill A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
       

Dec. 15

By Cash A/c   5,000
Mar. 31 To Balance c/d   5,000        
      5,000       5,000

 

What is Ledger – Explained with Example

Thanks, Please Like and share with your friends  

Comment if you have any question.

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)

 

 

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.