Question No 3 Chapter No 8 – T.S. Grewal 11 Class

Question No. 3 - Chapter No.8 - T.S. Grewal +1 Book 2019

Question No 3 Chapter No 8

Journalise the following transactions of Mr. Rahul

(i) Purchased goods of list price of Rs 20,000 from Vishal at 20% trade discount against cheque payment.
(ii) Purchased goods list price of Rs 20,000 from Naman at 15% trade discount against cash.
(iii) Purchased goods list price of Rs 30,000 from Amrit at 20% trade discount.
(iv) Purchased goods list price of Rs 40,000 for Rs 35,000 for cash. 
(v) Goods returned of list price of Rs 10,000 purchased from Amrit.
(vi) Sold goods to Parul of list price Rs 40,000 at 10% trade discount against cheque payment.
(vii) Sold goods to Aman of list price Rs 30,000 at 10% trade discount against cash.
(viii) Sold goods to Pawan of list price Rs 20,000 at 10% trade discount.
(ix) Sold goods to Yamini of list price of Rs 25,000 for Rs 23,000.
(x) Sold goods costing Rs 10,000 at cost plus 20% less 10% trade discount to Bhupesh. 
(xi) Sold goods purchased at list price of Rs 50,000 less 15% trade discount sold at a profit of 25% less 10% trade discount against cheque 
(xii) Aman returned goods of list price of Rs 10,000 sold to him at 10% trade discount. 

Solution of Question No 3 Chapter No 8: –

Note: – Always Remember that:
“You have to record all transaction with that amount which is given after discount or which you calculate after deducting discount amount because trade discount did not shown into the books.”

In the books of M/s. R. K. Co.

Date   Particulars
L.F. Debit Credit
(i) Purchase A/c Dr.   16,000  
              To Bank A/c       16,000
  (Being goods purchased from Vishal and payment made with cheque)      
           
(ii) Purchase A/c Dr.   17,000  
              To Cash A/c       17,000
  (Being goods purchased from Naman and payment made with Cash)      
           
(iii) Purchase A/c Dr.   24,000  
              To Amrit A/c       24,000
  (Being goods purchased from Amrit)      
           
(iv) Purchase A/c Dr.   35,000  
              To Cash A/c       35,000
  (Being goods purchased for Cash)      
           
(v) Amrit A/c Dr.   8,000  
              To Purchase Return A/c       8,000
  (Being furniture purchased)      
           
(vi) Bank A/c Dr.   36,000  
              To Sales A/c       36,000
  (Being goods sold to Parul and payment received with cheque)      
           
(vii) Cash A/c Dr.   27,000  
              To Sales A/c       27,000
  (Being goods sold to Aman and payment received in cash)        
         
(viii) Pawan A/c Dr.   18,000  
              To Sales A/c       18,000
  (Being goods sold to Pawan on credit)      
           
(ix) Yamini A/c Dr.   23,000  
              To Sales A/c       23,000
  (Being goods sold to Yamini on credit)      
           
(x) Bhupesh A/c Dr.   10,800  
              To Sales A/c       10,800
  (Being goods sold to Bhupesh on credit)      
           
(xi) Purchase A/c Dr.   42,500  
              To Bank A/c       42,500
  (Being goods purchased.)      
         
(xii) Bank A/c Dr.   56,250  
              To Sales A/c     56,250
  (Being goods sold and payment received with cheque)      
         

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

 Bank

 Artificial Person

 Personal Account

 Giving cash to seller

 Giver

Credit

Transaction No. 2 

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

 Cash

Assets

Real Account

Payment made in cash

Cash goes out

Credit

Transaction No. 3

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

 Mr. Amrit

Person

Personal Account

Selling his goods

Giver

Credit

Transaction No. 4

Transaction No. 4 Question No.3 Chapter No.8 T.S. Grewal 1 Book 2019 - Question No 3 Chapter No 8 - T.S. Grewal 11 Class
Transaction No. 4 Question No.3 – 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

 Cash

Assets

Real Account

Payment made in cash

Cash goes out

Credit

Transaction No. 5

Transaction No. 5 Question No.3 Chapter No.8 T.S. Grewal 1 Book 2019 - Question No 3 Chapter No 8 - T.S. Grewal 11 Class
Transaction No. 5 Question No.3 – 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 returned by business

Goods goes out

Credit

 Mr. Amrit

Person

Personal Account

Receiving his goods back

Receiver

Debit

Transaction No. 6

Transaction No. 6 Question No.3 Chapter No.8 T.S. Grewal 1 Book 2019 - Question No 3 Chapter No 8 - T.S. Grewal 11 Class
Transaction No. 6 Question No.3 – 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

 Bank

 Artificial Person

 Personal Account

Payment received by cheque

Bank is receiver

Debit

Transaction No. 7

Transaction No. 7 Question No.3 Chapter No.8 T.S. Grewal 1 Book 2019 - Question No 3 Chapter No 8 - T.S. Grewal 11 Class
Transaction No. 7 Question No.3 – 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. 8

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

 Pawan a/c

 Person

 Personal Account

Goods received

Pawan is receiver

Debit

Transaction No. 9

Transaction No. 9 Question No.3 Chapter No.8 T.S. Grewal 1 Book 2019 - Question No 3 Chapter No 8 - T.S. Grewal 11 Class
Transaction No. 9 Question No.3 – 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

 Yamini a/c

 Person

 Personal Account

Goods received

Pawan is receiver

Debit

Transaction No. 10

Transaction No. 10 Question No.3 Chapter No.8 T.S. Grewal 1 Book 2019 - Question No 3 Chapter No 8 - T.S. Grewal 11 Class
Transaction No. 10 Question No.3 – 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

 Bhupesh a/c

 Person

 Personal Account

Goods received

Pawan is receiver

Debit

Transaction No. 11

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

 Bank

 Artificial Person

 Personal Account

 Giving cash to seller

Bank is Giver

Credit

 

 

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

 Bank

 Artificial Person

 Personal Account

Payment received by cheque

Bank is receiver

Debit

Transaction No. 12

Transaction No. 12 Question No.3 Chapter No.8 T.S. Grewal 1 Book 2019 - Question No 3 Chapter No 8 - T.S. Grewal 11 Class
Transaction No. 12 Question No.3 – 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 Return a/c 

 Assets

 Real Account

Business Receiving Goods Back

Goods Comes in

Debit

 Cash

 Assets

 Real Account

 Cash received by Mr. Aman

Cash goes Out

Credit

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