Question No 12(B) Chapter No 5 – D.K Goal Class 11

Question No 12(B) Chapter No 5

12. (B) Following was the position of Harish & Co. as on 1st April, 2017 :− Cash in Hand 10,000; Cash at Bank 16,800; Furniture 8,000; Stock 50,000; Debtors− Ram 8,000; Shyam 12,000; Creditors− Anil 4,000; Sunil 5,000. Following transactions took place during April 2018:−

2018
Apr.2	Received a cheque from Ram in full settlement of his account after deducting a 5% cash discount.
Apr.4	Deposited the above cheque into Bank
Apr.5	Goods purchased for 20,000 at 10% trade discount and 5% cash discount. Payment made by cheque.
Apr.6	Received a cheque from Shyam for 3,860 and a discount allowed to him 140. Cheque deposited into the bank on the same day.
Apr.10	Cash paid to Anil after deducting 2% cash discount.
Apr.15	Old furniture sold for 800
Apr.16	Sold goods to Shiv Parshad of the list price of 10,000 at a trade discount of 15%.
Apr.18	Shiv Parshad returned goods of the list price of 1,000.
Apr.20	Paid for furniture repairs to Bahadur Singh 100.
Apr.25	Received a cheque from Shiv Parshad after deducting a 4% cash discount. A cheque was deposited into a bank.
Apr.28	Bank charged 50 for ‘Bank Charges’.
Apr.30	Received Commission 200.

The solution of Question No 12(B) Chapter No 5: –

In the Books of Hari Shankar & Co
Date	Particulars		L.F.	Debit	Credit
2019
Apr.1	Cash in Hand A/c	Dr.		10,000
	Cash at Bank A/c	Dr.		16,800
	Furniture A/c	Dr.		8,000
	Stock A/c	Dr.		50,000
	Ram’s A/c	Dr.		8,000
	Shyam’s A/c	Dr.		12,000
	To Anil’s A/c				4,000
	To Sunil’s A/c				5,000
	To Capital A/c (Balancing figure)				95,800
	(Being balances of the previous year brought forward .)
Apr.2	Cheques-in-Hand A/c	Dr.		7,600
	Discount Allowed A/c	Dr.		400
	To Ram’s A/c				8,000
	(Being Cheque received from Ram in full settlement)
Apr.4	Bank A/c	Dr.		7,600
	To Cheques-in-Hand A/c				7,600
	(Being Cheques −in −hand sent to bank)
Apr.5	Purchases A/c	Dr.		18,000
	To Bank A/c				17,100
	To Discount Received A/c				900
	(Being Draft received from Mohan deposited into the bank)
Apr.6	Bank A/c	Dr.		3,860
	Discount Allowed A/c	Dr.		140
	To Shyam’s A/c				4,000
	(Being Cheque received from Shyam)
Apr. 10	Anil’s A/c	Dr.		4,000
	To Cash A/c				3,920
	To Discount Received A/c				80
	(Being Cash paid to Anil in full settlement )
Apr. 15	Cash A/c	Dr.		800
	To Furniture A/c				800
	(Being Furniture sold for cash)
Apr. 16	Shiv Parshad’s A/c	Dr.		8,500
	To Sales A/c				8,500
	(Being Goods sold to Shiv Pars had on credit)
Apr. 18	Sales Return A/c	Dr.		850
	To Shiv Parshad’s A/c				850
	(Being goods returned by ShivParsh)
Apr.20	Repairs A/c	Dr.		100
	To Cash A/c				100
	(Being Cash paid for the repair of furniture.)
Apr.25	Bank A/c	Dr.		7,344
	Discount Allowed A/c	Dr.		306
	To Shiv Parshad’s A/c				7,650
	(Being Cheque received in full settlement.)
Apr.28	Bank Charges A/c	Dr.		50
	To Bank A/c				50
	(Being Bank charged some charges)
Apr.28	Bank Charges A/c	Dr.		50
	To Bank A/c				50
	(Being Cash received and bad −debts written off.)
Apr.27	Sohan’s A/c	Dr.		8,000
	To Bank A/c				7,800
	To Discount Received A/c				200
	(Being Cheque received from Sohan gets dishonored)
Apr.28	Cash A/c	Dr.		8,400
	Bad Debts A/c	Dr.		5,600
	To Dinesh’s A/c				14,000
	(Being Cash received and bad −debts written off.)
Apr.30	Cash A/c	Dr.		200
	To Commission A/c				200
	(Being Commission received.)

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D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution

• Chapter 1 Evolution of Accounting & Basic Accounting Terms
• Chapter 2 Accounting Equations
• Chapter 3 Meaning and Objectives of Accounting
• Chapter 4 Double Entry System
• Chapter 5 Books of Original Entry – Journal 
• Chapter 6 Accounting for Goods and Service Tax (GST) (Coming soon)
• Chapter 7 Books of Original Entry – Cash Book (Coming soon)
• Chapter 8 Books of Original Entry – Special Purpose Subsidiary Books (Coming soon)
• Chapter 9 Ledger (Coming soon)
• Chapter 10 Trial Balance and Errors (Coming soon)
• Chapter 11 Bank Reconciliation Statement (Coming soon)
• Chapter 12 Depreciation (Coming soon)
• Chapter 13 Bills of Exchange (Coming soon)
• Chapter 14 Generally Accepted Accounting Principles(GAAP) 
• Chapter 15 Bases of Accounting
• Chapter 16 Accounting Standards and International Financial Reporting Standard(IFRS) (Coming soon)
• Chapter 17 Capital and Revenue 
• Chapter 18 Provisions and Reserves 
• Chapter 19 Final Accounts (Coming soon)
• Chapter 20 Final Accounts – With Adjustments (Coming soon)
• Chapter 21 Errors and their Rectification (Coming soon)
• Chapter 22 Accounts from Incomplete Records – Single Entry System (Coming soon)
• Chapter 23 Accounts of Not-for-Profit Organisations (Coming soon)
• Chapter 24 Computerised Accounting System (Coming soon)
• Chapter 25 Introduction to Accounting Information System (Coming soon)

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