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

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

Question No 8 Chapter No 8

Journalise the following transactions of Singh Enterprises, Delhi::

2017   Rs
June 01 Started business with cash  50,000
June 02 Deposited cheque from Savings Account in firm’s account 2,00,000
June 03 Received cash from Ram 50,000
June 04 Purchased goods of  cash  15,000
June 11 Sold goods to M/s. Hari Sales, Delhi 12,000
June 13 Paid to Ramavtar 40,000
June 17 Received from M/s Hari Sales  10,000
June 20 Bought furniture from S.R. Furnishers against Cash ( Including CGST and SGST) 22,400
June 27 Paid rent  28,000
June 30 Paid salary  50,000

CGST and SGST @6% each is levied on Intra-state sale and purchase.

Solution of Question No 8 Chapter No 8: –

In the Books of Singh Enterprises, Delhi

Date   Particulars
L.F. Debit Credit
June 1 Cash A/c Dr.   50,000  
             To CapitalA/c     50,000
  (Being started business with cash.)      
           
June 2 BankA/c Dr.   2,00,000  
            To Capital A/c       2,00,000
  (Being cheque deposited from his saving account.)      
           
June 3 Cash A/c Dr.   50,000  
            To Ram A/c       50,000
  (Being amount received from Ram.)      
           
June 4 Purchase A/c Dr.   15,000  
  CGST Input A/c Dr.   900  
  SGST Input A/c Dr.   900  
            To Cash A/c       16,800
  (Being goods purchased for Cash.)      
           
June 11 M/s. Hari Sales A/c Dr.   13,440  
            To Sales A/c       12,000
            To CGST Output A/c       720
            To SGST Output A/c       720
  (Being goods sold to Hari sales.)      
           
June 13 Ramavtar A/c Dr.   40,000  
            To Cash  A/c       40,000
  (Being payment made to Ramavtar.)      
           
June 17 Cash A/c Dr.   10,000  
              To M/s Hari Sales A/c     10,000
  (Being payment received from Hari Sales.)      
         
June 20 Furniture A/c Dr.   20,000  
  CGST Input A/c Dr.   1,200  
  SGST Input A/c Dr.   1,200  
              To Cash A/c     22,400
  (Being Furniture purchased)      
         
June 27 Rent A/c Dr.   28,000  
            To Cash  A/c       28,000
  (Being rent paid.)      
           
June 30 Salary A/c Dr.   50,000  
            To Cash  A/c       20,000
  (Being salary paid.)      
         

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

Cash

 Assets

 Real Account

 Cash received by business

Cash Comes In

Debit

Capital

 Personal

 Personal Account

 Giving cash to business

Owner is Giver

Credit

Transaction No. 2

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

Bank

Artificial Person

  Personal  Account

 Bank receiving cheque

Bank is receiver

Debit

Capital

 Personal

 Personal Account

 Giving cash to business

Owner is Giver

Credit

Transaction No. 3

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

 Cash

Assets

Real Account

Payment received in cash

 Cash comes in  

Debit

 Mr. Ram

Person

Personal Account

Making payment

Ram is Giver

Credit

Transaction No. 4

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

CGST Input A/c

Expenses

Nominal Account

Tax collected from buyer

All Expenses and losses

Debit

SGST Input A/c

Expenses

Nominal Account

Tax collected from buyer

All Expenses and losses

Debit

 Cash

Assets

 Real Account

Payment made in cash

Cash goes out

Credit

Transaction No. 5

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

 M/s. Hari Sales

 Person

 Personal Account

Goods received

Pawan is receiver

Debit

Sales a/c (Goods)

 Assets

 Real Account

 Goods giving by Business

Goods Goes out

Credit

CGST Output A/c

Income

Nominal Account

Tax collected from buyer

All income and gains

Credit

SGST Output A/c

Income

Nominal Account

Tax collected from buyer

All income and gains

Credit

Transaction No. 6

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

Cash a/c

 Assets

 Real Account

 cash paid by Business

cash goes out

Credit

 Ramavtar a/c

 Person

 Personal Account

Goods received

Ramavtar is receiver

Debit

Transaction No. 7

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

Cash

 Assets

 Real Account

 Cash received by business

Cash Comes In

Debit

 M/s. Hari Sales

Person

Personal Account

Making payment

Ram is Giver

Credit

Transaction No. 8

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

 Furniture

 Assets

 Real Account

 Goods received by business

Goods comes in

Debit

CGST Input A/c

Expenses

Nominal Account

Tax collected from buyer

All Expenses and losses

Debit

SGST Input A/c

Expenses

Nominal Account

Tax collected from buyer

All Expenses and losses

Debit

 Cash

Assets

 Real Account

Payment made in cash

Cash goes out

Credit

Transaction No. 9

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

Rent A/c

Loss

Nominal Account

Expenses incurred

 All Expenses and Losses

Debit

 Cash

Assets

 Real Account

Payment made in cash

Cash goes out

Credit

Transaction No. 10

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

Salary A/c

Loss

Nominal Account

Expenses incurred

 All Expenses and Losses

Debit

 Cash

Assets

 Real Account

Payment made in cash

Cash goes out

Credit

Thanks Please share with your friends  

Comment if you have any question.

Check out T.S. Grewal +1 Book 2019 ir?t=tutorstips 21&l=ur2&o=31 - Question No 8 Chapter No 8 - T.S. Grewal 11 Class@ Amazon.in

T.S. Grewals Double Entry Book Keeping - Question No 8 Chapter No 8 - T.S. Grewal 11 Class

T.S. Grewal’s Double Entry Book Keeping

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.