Loading Tutorstips...
✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Get complete step-by-step solutions for T.S. Grewal Double Entry Book Keeping Class 11 - 2025-2026 - Chapter 8 - Journal. Study double-entry system details, practice timed problems, and verify answers directly.
Pass Journal entries for the following transactions:
| Date | Particulars | L.F. | Dr. (₹) | Cr. (₹) |
|---|---|---|---|---|
| (a) | Cash A/c Dr. Bank A/c Dr. To Capital A/c (Being Pankaj started business with cash and bank capital) | 2,00,000 8,00,000 | 10,00,000 | |
| (b) | Machinery A/c Dr. To Cash A/c To Bank Loan A/c (Being machinery purchased; 10% down payment ₹2,50,000; balance on loan) | 25,00,000 | 2,50,000 22,50,000 | |
| (c) | Machinery A/c Dr. To Cash A/c (Being wages paid for installation of machine (capitalised)) | 48,000 | 48,000 | |
| (d) | Purchases A/c Dr. To Chhabra Bros.' A/c (Being goods purchased from Chhabra Bros. on credit) | 3,00,000 | 3,00,000 | |
| (e) | Cash A/c Dr. To Bank A/c (Being cash withdrawn from bank) | 50,000 | 50,000 | |
| (f) | Bank Loan A/c Dr. Bank Interest A/c Dr. To Bank A/c (Being bank loan repaid including interest ₹3,000) | 32,000 3,000 | 35,000 | |
| (g) | Samuel's A/c Dr. To Sales A/c (Being goods sold to Samuel on credit) | 40,000 | 40,000 | |
| (h) | Cash A/c Dr. Discount Allowed A/c Dr. To Samuel's A/c (Being received from Samuel; discount allowed ₹250) | 39,750 250 | 40,000 | |
| (i) | Rent A/c Dr. To Bank A/c (Being rent paid by cheque) | 37,500 | 37,500 | |
| (j) | Depreciation A/c Dr. To Machinery A/c (Being depreciation @ 15% p.a. on machinery ₹25,48,000 (cost + ₹48,000 installation wages capitalised)) | 3,82,200 | 3,82,200 |
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.