Question No 24 Chapter No 7

Question No 24 Chapter No 7

22. Enter the following transaction in a suitable cash book and being down the balances on 29th February 2020

2020 Rs
Feb.15Balance in hand 6,250
 Balance at state bank of India25,000
Feb.16Purchased goods from Shashi Rs 6,000, less 10% trade discount and paid the amount next day by cheque, less 2% cash discount 
Feb.18Received from M/s Brindavan trader: 
 Cash Rs 4,000 and a cheque for Rs 12,000, cheque being sent to the bank 
Feb.19Purchased goods of the list price of Rs 10,000 at 20% trade discount and 5% cash discount and paid the amount on 20th February 
Feb.22Withdrew from the bank for office use 5,000
 Drawn on the bank by Proprietor for own use3,000
Feb.24Received from X by cheque7,500
 Also received a cheque from Y4,000
Feb.25Bank reported the collection of the cheque of M/s Brindavan Traders subject to a collection charge of Rs 20. the bank also reported the dishonor of the cheque of X. 
Feb.26Y’s cheque paid into the bank 
Feb.28Drew from the bank and paid salary4,800
Feb.29Paid all cash except Rs 1,000 into the bank 

The solution of Question No 24 Chapter No 7: –

ReceiptDateV.NOParticulars
PaymentConveyance
Printing &
Stationery

Postage

Wages
Cartage
Miscellaneous
Exp
enses
800Jan.1 To Balance b/d       
9,200Jan.1 To Cash A/c       
 Jan.2 By Wages A/c600   600  
 Jan.3 By Sundry Exp. A/c100     100
 Jan.5 By Stationery A/c700 700    
 Jan.9 By Courier charges A/c200  200   
 Jan.12 By Stamps A/c750  750   
 Jan.14 By Wages A/c500   500  
 Jan.16 By Stationery A/c400 400    
 Jan.19 By General Exp. A/c610     610
 Jan.20 By Cartage A/c800    800 
 Jan.22 By Advt A/c900     900
 Jan.24 By Postage A/c400  400   
 Jan.25 By Taxi Fare A/c840840     
 Jan.27 By Entertainment A/c600     600
 Jan.29 By Carriage A/c500    500 
 Jan.31 By Repair A/c700     700
   By Balance C/d1,400      
10,000   10,0008401,1001,3501,1001,3002,910

 

Cash Book | Types of Cash Book | Subsidiary Books

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D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution

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