Question No 40 Chapter No 5 – USHA Publication 11 Class

Question No 40 Chapter No 5

Question No 40 Chapter No 5

40. Journalise the following transactions in the book of Rajesh :

2018  
May.10 Sh. Ramlal who owes Rs 1,000 pays Rs 993 in the full statement 
Jun.12 m/s Mohan Singh & Co. who owes Rs 3,000 became insolvent. Only 45%of the amount is realized
Jul. 8 Issued cheque in favour of Patel Bros. on account of purchase of furniture for Rs 1,500
Jul. 31 Received cheque from Mr White Rs 6,200. allowed him to discount Rs 80
Aug. 10 A sum of Rs 300 is received from Sher Singh & Co. against debts previously written off.
Sep. 20 Returned goods to Industrial cables Ltd. Of the value of Rs 600
Oct. 5 Withdrawn goods for domestic use Rs 60
Oct. 18 Paid railways fright on behalf of our customer Mr Surinder Rs 60
Nov. 16 Received interest on investment Rs 500
Dec. 24 Paid office expenses Rs 150 from personal cash and stationery expenses Rs 250 from cash 

 

The solution of Question No 40 Chapter No 5: –

 

In the Books of Rajesh 
Date Particulars
L.F. Debit Credit
2019          
May. 10 Cash A/c Dr.   993  
  Discount A/c Dr.   7  
  To Ram Lal A/c       1,000
  (Being cash receipt and discount allowed )      
         
Jun. 12 Cash A/c Dr.   1,350  
  Bad debts A/c Dr.   1,650  
  To Mohan Singh A/c     3,000
  (Being receipt and non-receivable written off)      
         
Jul.8 Furniture A/c Dr.   1,500  
  To Bank A/c     1,500
  (Being the purchased of furniture and issue of a cheque)      
         
Jul. 31 Bank A/c Dr.   6,200  
  Discount A/c Dr.   80  
  To White A/c     6,280
  (Being receipt of cheque and discount allowed)      
         
Aug. 10 Cash A/c Dr.   300  
  To Bad debts recovered A/c     300
  (Being amount previously written off now recovered )      
         
Sep. 20 Industrial Cables Ltd. A/c Dr.   600  
  To Return Outwards A/c     600
  (Being goods returned by us)      
         
Oct. 5 Drawing A/c Dr.   450  
  To Purchases A/c     450
  (Being goods use by Rajesh for personal use)      
         
Oct. 18 Surinder A/c Dr.   350  
  To Cash A/c     350
  (Being paid railway freight recoverable from Surinder)      
         
Nov. 16 Surinder A/c Dr.   500  
  To Interest on investment A/c     500
  (Being receipts of interest recorded )      
         
Dec. 24 Office expenses A/c Dr.   150  
  To capital A/c     150
  (Being the payment of expenses from personal cash)      
         
Dec. 24 Stationery A/c Dr.   250  
  To Cash A/c     250
  (Being the amount paid for stationery )      
         

 

 

How to make Journal Entries in Accounting – Explanation

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.