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Question No 41 Chapter No 5 – USHA Publication 11 Class

Question No 41 Chapter No 5
Q-41 - CH-5 - USHA +1 Book 2020 - Solution

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Question No 41 Chapter No 5

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41. Journalise the following transactions in the book of Sudhir :

2019 
Jan. 1Sudhir having no capital of his own started business with Rs 50,000, borrowed from his friend Shiv @10%p.a.
Jan. 5Purchased goods for Rs 5,000
Jan.12Received invoice at 10% trade discount from Rohit and sons and supplied these goods to Madan, listed at Rs 3,000
Jan. 20Madan is declared insolvent and the amount @25 paise per rupee is received from him in full settlement
Jan. 25Purchased goods for Rs 1,000 from Nanda and Supplied it to Helen for Rs 1,300, Helen returned goods worth Rs 390, which in turn were returned to Nanda
Feb. 9Bought a house for Rs 1,500 and a cart for Rs 2,000 of delivering goods to the customers
Feb. 25The house bought on Feb,9 died and the carcase was sold for Rs 200
Feb. 28Supplied goods for Rs 300 to Sudhir for domestic use
Mar. 31300 were paid to Mohan, out of business funds, for the repair of Sudhir’s residential house.

 

The solution of Question No 41 Chapter No 5: –

 

In the Books of Sudhir
DateParticulars
L.F.DebitCredit
2019     
Jan. 1Cash A/cDr. 50,000 
 To Shiva’s Loan A/c   50,000
 (Being business started with loan @ 10% p.a. )   
     
Jan. 5Purchases A/cDr. 5,000 
 To Cash A/c  5,000
 (Being goods bought for cash )   
     
Jan.12Purchases A/cDr. 2,700 
 To Rohit And Sons A/c  2,700
 (Being goods bought worth Rs 3,000 @ 10% trade discount)   
     
Jan. 12Madan A/cDr. 3,000 
 To Sale A/c  3,000
 (Being goods sold on credit)   
     
Jan. 20Cash A/cDr. 750 
 Bad debts A/cDr. 2,250 
 To Bad debts recovered A/c  3,000
 (Being compensation received and balance written-off as bad debts)   
     
Jan. 25Purchases A/cDr. 1,000 
 To Nandas A/c  1,000
 (Being goods returned by us)   
     
Jan. 25Halen A/cDr. 1,300 
 To Sales A/c  1,300
 (Being goods sold on credit )   
     
Jan. 25Return Inward A/cDr. 390 
 To Halen A/c  390
 (Being gods received back, previously sold)   
     
Jan.25.Nanda A/cDr. 300 
 To Return outwards A/c  300
 (Being goods returned previously purchased)   
     
Feb. 9Horse and cart A/cDr. 3,500 
 To Cash A/c  3,500
 (Being horse and cart purchased for delivery of goods)   
     
Feb. 25Cash A/cDr. 200 
 Profit & loss A/cDr. 1,300 
 To House and cart A/c  1,500
 (Being carcase of a dead horse sold and balance treated as a loss )   
     
Feb. 28Drawing A/cDr. 300 
 To Purchases A/c  300
 (Being goods taken by the proprietor for personal use)   
     
Mar.31Drawing A/cDr. 300 
 To Cash A/c  300
 (Being amount was withdrawn by the proprietor from the business for payment of personal expenditure)   
     

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How to make Journal Entries in Accounting – Explanation

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Also, Check out the solved question of all Chapters: –

Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution

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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)

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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

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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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