Question No 21 Chapter No 7 – USHA Publication 11 Class

Question No 21 Chapter No 7

Question No 21 Chapter No 7

21. Record the following transaction in the journal of R.Venkataraman and post it to the ledger:

Date  
2018  
Apr. 3 Commenced business with cash balance Rs 2,00,000 and bank balance Rs 3,00,000.
May. 18 Paid for stationery Rs 10,000 by cheque plus 6% CGST and SGST.
Jul. 17 Purchased goods costing Rs 80,000 plus 6% CGST and SGST from Radhakrishnan.
Aug. 24 Purchased goods costing Rs 40,000 plus 12% IGST in cash.
Sep. 28 Sold goods to Fakhruddin Ali for Rs 50,000 plus 6% CGST and SGST.
Nov. 12 Goods returned to Radhakrishnan costing Rs 6,000 ( goods were originally purchased at 6% CGST and SGST).
Dec. 26 Goods destroyed by fire Rs 20,000. Insurance company admitted the claim for RS 15,000( goods were originally purchased at 6% CGST and SGST).
2019  
Jan. 16 Paid for foods and beverages Rs 8,000 plus 2.5% CGST and SGST for meeting with creditors.
Mar. 29 Paid lawyer’s fee Rs 12,000 and deposited 9% CGST and SGST to the Government’s Account.

 

The solution of Question No 21 Chapter No 7: –

 

Date Particulars
L.F. Debit Credit
2018          
Apr.1 Cash A/c Dr.   2,00,000  
  Bank A/c Dr.   3,00,000  
  To Capital A/c       5,00,000
  (Being business started with cash and bank)      
         
May. 18 Stationery A/c Dr.   10,000  
  Input CGST A/c Dr.   600  
  Input SGST A/c Dr.   600  
  To Bank A/c     11,200
  (Being bought stationery plus 6% CGST and SGST)      
         
Jul. 17 Purchases A/c Dr.   80,000  
  Input CGST A/c Dr.   4,800  
  Input SGST A/c Dr.   4,800  
  To Radhakrishnan A/c     89,600
  (Being bought goods plus 6% CGST and SGST)      
         
Aug. 24 Purchases A/c Dr.   40,000  
  Input IGST A/c Dr.   4,800  
  To Cash A/c     44,800
  (Being bought goods plus 12% IGST)      
         
Sep.28 Fakhruddin Ali A/c Dr.   56,000  
  To Sale A/c     50,000
  To Output CGST A/c     3,000
  To Output SGST A/c     3,000
  (Being goods sold Fakhruddin Ali 6% CGST and SGST)      
         
Nov. 12 Radhakrishnan A/c Dr.   6,720  
  To Purchases return A/c     6,000
  To Input CGST A/c     360
  To Input SGST A/c     360
  (Being goods sold Fakhruddin Ali 6% CGST and SGST)      
         
Dec. 26 Goods destroyed by Fire A/c Dr.   7,400  
  Insurance Company A/c Dr.   15,000  
  To Purchases A/c     20,000
  To Output CGST A/c     1,200
  To Output SGST A/c     1,200
  (Being goods sold Fakhruddin Ali 6% CGST and SGST)      
2019        
         
Jan. 16 Referment A/c Dr.   8,000  
  Input CGST A/c Dr.   200  
  Input SGST A/c Dr.   200  
  To Cash A/c     8,400
  (Being cash paid for food and beverages plus 2.5% CSGST and SGST)      
         
Mar. 29 Lawyer’s fee A/c Dr.   9,000  
  Input CGST A/c Dr.   1,080  
  Input SGST A/c Dr.   1,080  
  To Cash A/c       11,160
  (Being paid to lawyer’s fee and plus 9% CGST and SGST )      
         

 

Dr. Cash A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Apr. 1 To Capital A/c   2,00,000 Aug. 24 By Purchases A/c   40,000
        Aug. 24 By Input IGST A/c   4,800
        Jan. 16 By Referment A/c   8,000
        Jan. 16 By Input CGST A/c   800
        Jan. 16 To Input SGST A/c   800
        Mar. 29 By Lawyer’s fee A/c   9,000
        Mar. 29 By Input CGST A/c   1,080
        Mar. 29 By Input SGST A/c   1,080
        Mar. 31 By Balance c/d   1,34,440
      2,00,000       2,00,000

 

Dr. Capital A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
        Apr. 1 By Cash A/c   2,00,000
        Apr. 1 By Bank A/c   3,00,000
Mar. 31 To Balance c/d   5,00,000        
      5,00,000       5,00,000

 

Dr. Purchases A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Jan. 24 To Radhakrishnan A/c   80,000 Dec. 26 By Goods destroyed by Fire A/c   5,000
        Dec. 26 By Insurance Company A/c   15,000
        Mar. 31 By Balance c/d   60,000
      80,000       80,000

 

 

Dr. Bank A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Apr.1 To Capital A/c   3,00,000 May. 18 By Stationery A/c   10,000
        May. 18 By Input CGST A/c   600
        May. 18 By Input SGST A/c   600
        Mar. 31 By Balance c/d   1,66,400
      3,00,000       3,00,000

 

Dr. Fakhruddin Ali A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Sep.28 To Sale A/c   50,000        
Sep.28 To Output CGST A/c   3,000        
Sep.28 To Output SGST A/c   3,000        
        Mar. 31 By Balance c/d   56,000
      56,000       56,000

 

Dr. Radhakrishnan A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Nov. 12 To Purchases return A/c   6,000 Jul. 17 By Purchases A/c   80,000
Nov. 12 To Input CGST A/c   360 Jul. 17 By Input CGST A/c   4,800
Nov. 12 To Input SGST A/c   360 Jul. 17 By Input SGST A/c   4,800
Mar. 31 To Balance c/d   82,880        
      89,600       89,600

 

Dr. Fakhruddin Ali A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Sep.28 To Sale A/c   6,000        
Sep.28 To Output CGST A/c   360        
Sep.28 To Output CGST A/c   360        
        Mar. 31 By Balance c/d   56,000
      56,000       56,000

 

Dr. Referment A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Jan. 16 To Cash A/c   8,000        
        Mar. 31 By Balance c/d   8,000
      8,000       8,000

 

Dr. Lawyer’s fee A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
Mar. 29 To Cash A/c   9,000        
        Mar. 31 By Balance c/d   9,000
      9,000       9,000

 

Dr. Referment A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
May. 18 To Bank A/c   10,000        
        Mar. 31 By Balance c/d   10,000
      10,000       10,000

 

Dr.  Input CGST A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
May. 18 To Cash A/c   600 Nov. 12 By Radhakrishnan A/c   360
Jul. 17 To Radhakrishnan A/c   4,800 Dec. 26 By Goods destroyed by Fire A/c   1,200
Nov. 12 To Cash A/c   200        
Mar. 29 To Cash A/c   1,080        
        Mar. 31 By Balance c/d   5,120
      6,680       6,680

 

Dr.  Input CGST A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
May. 18 To Cash A/c   600 Nov. 12 By Radhakrishnan A/c   360
Jul. 17 To Radhakrishnan A/c   4,800 Dec. 26 By Goods destroyed by Fire A/c   1,200
Nov. 12 To Cash A/c   200        
Mar. 29 To Cash A/c   1,080        
        Mar. 31 By Balance c/d   5,120
      6,680       6,680

 

Dr. Output IGST A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
        Aug. 24 By Cash A/c   4,800
Mar. 31 To Balance c/d   4,800        
      4,800       4,800

 

Dr. Sale A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
2018       2018      
        Dec. 15 By Fakhruddin Ali A/c   50,000
Mar. 31 To Balance c/d   50,000        
      50,000       50,000

 

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 

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

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 

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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