Question No 7 Chapter No 13 – T.S. Grewal 11 Class

Question No 7 Chapter No 13

Question No 7 Chapter No 13

7. Following are the ledger balances of Sri Paul on 31st March 2018:

  Rs   Rs
Sundry Debtors (Dr) 79,300 Interest on loan  10,000
Sundry Creditors (Cr)  1,36,500 Conveyance  200
Rent (Cr) 6,300 furniture 30,000
Miscellaneous expenses   3,200 Commission  4,000
Plant and Machinery(Dr) 7,98,750 Plant and Machinery(Cr) 90,000
Creditors for furniture  30,000 Sundry Debtors (Cr) 20,800
Opening stock   40,000 Drawings  15,000
Discount(Cr) 9,900 Salaries and wages  25,900
Sundry creditors(Dr) 36,500 Discount(Dr) 5,500
Building (Dr) 9,81,000 Capital  5,00,000
Rent   12,000 Purchases  3,13,450
Loan (Cr) 10,00,000 Sales  5,61,300
Input IGST A/c 2,500 Input SGST A/c 1,000
Input CGST 1,000 Output IGST A/c 4,500

The solution of Question No 7 Chapter No 13: –  

Trail Balance A/c  
Particulars
J.F. Debit Credit
Sundry Debtors(Dr.)   58,500  
Sundry creditors (Cr.)     1,00,000
Rent (Cr.)     6,300
Miscellaneous expenses   3,200  
Plant and Machinery   7,08,750  
Creditors for furniture     30,000
Opening stock   40,000  
Discount(Cr)     9,900
Building (Dr)   9,81,000  
Rent   12,000  
Loan (Cr)     10,00,000
Input IGST   2,500  
Input CGST   1,000  
Interest on loan   10,000  
Conveyance   200  
Furniture   30,000  
Commission   4,000  
Drawing   15,000  
Salaries and wages   25,900  
Discount(Dr)   5,500  
Capital     5,00,000
Purchases   3,13,450  
Sales     5,61,300
Input SGST   1,000  
Output SGST     4,500
    22,12,000 22,12,000

Note
Net Debtors = Sundry Debtors (Dr)- Sundry Debtors(Cr)
=79,300-20,800
= 58,500

Note
Net Creditors = Sundry Creditors (Cr)- Sundry Creditors (Dr)
=1,36,500-36,500
= 1,00,000

Note
Net Plant and Machinery = Plant and Machinery (Dr)- Plant and Machinery (Cr)
=7,98,750 – 90,000
= 7,08,750

To understand more about cash book please check out following links: –

Trial Balance | Explanation | Methods | Examples

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

  • Chapter No. 1 – Introduction to Accounting
  • Chapter No. 2 – Basic Accounting Terms
  • Chapter No. 3 – Theory Base of Accounting, Accounting Standards and International Financial Reporting Standards(IFRS)
  • Chapter No. 4 – Bases of Accounting
  • Chapter No. 5 – Accounting Equation
  • Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
  • Goods and Services Tax(GST)
  • Chapter No. 7 – Origin of Transactions – Source Documents and Preparation of Vouchers
  • Chapter No. 8 – Journal
  • Chapter No. 9 – Ledger
  • Chapter No. 10 – Special Purpose Books I – Cash Book
  • Chapter No. 11 – Special Purpose Books II – Other Books
  • Chapter No. 12 – Bank Reconciliation Statement
  • Chapter No. 13 – Trial Balance
  • Chapter No. 14 – Depreciation
  • Chapter No. 15 – Provisions and Reserves
  • Chapter No. 16 – Accounting for Bills of Exchange
  • Chapter No. 17 – Rectification of Errors
  • Chapter No. 18 – Financial Statements of Sole Proprietorship
  • Chapter No. 19 – Adjustments in preparation of Financial Statements
  • Chapter No. 20 – Accounts from incomplete Records – Single Entry System
  • Chapter No. 21 – Computers in Accounting
  • Chapter No. 22 – Accounting Software – Tally
  • Chapter No. 5 – Accounting Equation
  • Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
  • Goods and Services Tax(GST)
  • Chapter No. 8 – Journal
  • Chapter No. 9 – Ledger
  • Chapter No. 10 – Special Purpose Books I – Cash Book

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T.S. Grewals Double Entry Book Keeping - Question No 7 Chapter No 13 - T.S. Grewal 11 Class

T.S. Grewal’s Double Entry Book Keeping

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