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Question No 5 Chapter No 9 – T.S. Grewal 11 Class

Question No. 5 - Chapter No.9 - T.S. Grewal +1 Book 2019
Question No. 5 - Chapter No.9 - T.S. Grewal +1 Book 2019

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Question No 5 Chapter No 9

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5. Journalise the following transactions in the Journal of M/s Gupta Brothers(Prop. Shri R.K. Gupta) Delhi and Post them to the ledger:

2018 Rs.
Mar. 1Started Business with cash*2,00,000
Mar. 2Opened a Bank Account with SBI*80,000
Mar. 4Goods Purchased from Raj, Jaipur (Rajasthan)22,000
Mar. 5Goods purchased for cash 30,000
Mar. 8Goods Sold to Naman, Delhi12,000
Mar. 10 Cash paid to Raj*22,000
Mar. 15Cash received from Naman*11,700
 Discount Allowed 300
Mar. 16Paid wages*200
Mar. 18Furniture purchased for office use5,000
Mar. 20Withdrawn from bank for personal use*4,000
Mar. 22Issued cheque for rent3,000
Mar. 23Goods taken for household purpose. These goods were purchased from Raj2,000
Mar. 24Drawn cash from bank for office use*6,000
Mar. 26Commission received charges 1,000
Mar. 27Bank charges 300
Mar. 28Cheque issued for life insurance premium of Proprietor*3,000
Mar. 29Paid Salary*10,000
Mar. 30Cash Sales 20,000

Inter-State transactions are subject to levy of IGST @ 12% and Intra-state transactions are subject to levy of CGST and SGST @ 6% each. GST is not levied on transactions marked with(*).

Solution of Question No 5 Chapter No 9: – 

In the Books of M/s Gupta Brothers(Prop. Shri R.K. Gupta) Delhi

Date  Particulars
L.F.DebitCredit
2018     
Mar. 1Cash A/cDr. 2,00,000 
           To Capital A/c   2,00,000
 (Being Commenced business with cash.)   
     
Mar. 2Bank – SBI A/cDr. 80,000 
           To Cash A/c   80,000
 (Being Bank account opened in SBI)   
      
Mar. 3PurchasesA/cDr. 22,000 
 Input IGST A/cDr. 2,640 
            To Raj, Jaipur A/c  24,640
 (Being Furniture purchased for cash )   
     
Mar. 5Purchase A/cDr. 30,000 
 Input CGST A/cDr. 1,800 
 Input SGST A/cDr. 1,800 
            To Cash A/c  33,600
 (Being goods purchased for cash )   
     
Mar. 8Naman, Delhi A/cDr. 13,440 
            To Sales A/c   12,000
            To Output CGST A/c   720
            To Output SGST A/c   720
 (Being goods Sold to Naman, Delhi)   
     
Mar. 10Raj, Jaipur A/cDr. 22,000 
            To Cash A/c   22,000
 (Being payment made to Raj)   
     
Mar. 15Cash A/cDr. 11,700 
 Discount Allowed A/cDr. 300 
            To Naman, Delhi A/c  12,000
 (Being payment received in cash)   
     
Mar. 16Wages A/cDr. 5,000 
            To Cash A/c  5,000
 (Being wages paid)   
     
Apr. 16Furniture A/cDr. 4,000 
 Input CGST A/cDr. 240 
 Input SGST A/cDr. 240 
            To Cash A/c  4,480
 (Being Rent paid to Landlord)   
     
Mar. 20Drawing A/cDr. 1,000 
            To Cash A/c  1,000
 (Being wages paid)   
     
Mar. 22Rent A/cDr. 3,000 
 Input CGST A/cDr. 180 
 Input SGST A/cDr. 180 
            To Bank A/c  3,360
 (Being rent paid by cheque)   
     
Mar. 23Drawing A/cDr. 2,240 
            To Purchase A/c  2,000
            To Input IGST A/c  240
 (Being goods taken for household purpose)   
     
Mar. 24Cash A/cDr. 6,000 
            To Bank A/c  6,000
 (Being cash withdrawal from bank for office use)   
     
Mar. 26Cash A/cDr. 1,000 
            To Commission received A/c  1,000
 (Being payment received in cash for commission)   
     
Mar. 27Bank Charges A/cDr. 300 
            To Bank A/c  300
 (Being bank charges deducted by bank)   
     
Mar. 28DrawingA/cDr. 3,000 
            To Bank A/c  3,000
 (Being life insurance premium paid of proprietor’s life)   
     
Mar. 29Salary A/cDr. 10,000 
            To Cash A/c  10,000
 (Being bank charges deducted by bank)   
      
Mar. 30Cash A/cDr. 22,400 
            To Sales A/c   20,000
            To Output CGST A/c   1,200
            To Output SGST A/c   1,200
 (Being goods Sold for cash)   
     

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To clear the meaning of Ledger and Ledger balancing Click below: 

What is Ledger in accounting – explain its Types

Ledger balancing or Closing of ledger account | Ledger

 
Dr.Cash A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Apr. 1To Capital A/c 1,50,000Apr. 2By Bank- PNB A/c 50,000
Apr. 5To Sales A/c 33,600Apr. 11By Furniture A/c 22,400
Apr. 15To M/s Gupta Traders A/c 12,000Apr. 13By Purchase A/c 33,600
    Apr. 16By Rent A/c 4,480
    Apr. 18By Electricity A/c 1,000
    Apr. 23By Hema Traders A/c 40,000
    Apr. 25By Postage & Stamps A/c 100
    Apr. 30By SalaryA/c 4,000
    Apr. 30By Balance C/d 40,020
        
   1,95,600   1,95,600

 

Dr.Capital A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
    Apr. 1By Cash A/c 1,50,000
Apr. 30By Balance C/d 1,50,000    
        
   1,50,000   1,50,000

 

Dr.Bank – PNB A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Apr. 2To Cash A/c 50,000    
    Apr. 30By Balance C/d 50,000
        
   50,000   50,000

 

Dr.Furniture A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Apr. 3To Cash A/c 22,400    
    Apr. 30By Balance C/d 22,400
        
   22,400   22,400

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Dr.Purchase A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Apr. 7To Cash A/c 33,600    
Apr. 8To M/s Hema Trader, Kolkata A/c 47,040    
    Apr. 30By Balance C/d 80,640
        
   80,640   80,640

 

Dr.Sales A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
    Apr. 10By Cash A/c 33,600
    Apr. 14By M/s Gupta Traders, CHD A/c 13,440
Jan. 31By Balance C/d 47,040    
        
   47,040   47,040

 

Dr.M/s Hema Traders, Chandigarh A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Jan. 15To Sales A/c  6,000    
    Jan. 31By Balance C/d 6,000
        
   6,000   6,000

 

Dr.Anurag, Kanpur A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Jan. 19To Purchase Return A/c  5,000Jan. 18By Purchase A/c 50,000
Jan. 31By Balance C/d 45,000    
        
   50,000   50,000

 

Dr.Purchase Return A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
    Jan. 19By Anurag, Kanpur A/c 5,000
Jan. 31By Balance C/d 5,000    
        
   5,000   5,000

 

Dr.Electricity Charges A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Jan. 22To CashA/c  1,000    
    Jan. 31By Balance C/d 1,000
        
   1,000   1,000

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Dr.Telephone Charges A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Jan. 28To CashA/c  500    
    Jan. 31By Balance C/d 500
        
   500   500

 

Dr.Rent A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Jan. 29To CashA/c  800    
    Jan. 31By Balance C/d 800
        
   800   800

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Dr.Wages A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Jan. 31To CashA/c  3,000    
    Jan. 31By Balance C/d 3,000
        
   1,000   1,000

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