Question No 21 Chapter No 5 - D.K Goal Class 11

Question No 21 Chapter No 5

21. Tanishk Traders deal in Motor Cars. Record the following transaction in their journal:-

(i)	Purchased 4 Motor cars @Rs 1,20,000 each from Maruti Ltd. For stock
(ii)	Purchased 1 Motor car for Rs 75,000 from Maruti Ltd. for business use.
(iii)	Returned one Motor car for the stock to Maruti Ltd.
(iv)	Sold 3 motor cars for Rs 4,50,000(banked Rs 4,25,000)
(v)	Purchased an accounting machine for Rs 40,000
(vi)	Bought on credit from Tata motors, 5 Motor cars for Rs 8,00,000 for resale
(vii)	Received credit note from Tata Motors for one car returned to them
(viii)	Paid to Tata Motors by cheque the amount owing
(ix)	Drew a cheque for self Rs 1,00,000 and drew out of cash for self Rs 20,000
(x)	Mr. Tanishk brought his own car into the business valuing Rs 1,80,000 for sale.

The solution of Question No 21 Chapter No 5: –

In the Books of Radhika Traders
Date	Particulars		L.F.	Debit	Credit
2019
(i)	Motor car A/c	Dr.		4,80,000
	To Maruti Ltd. A/c				4,80,000
	(Being 4 motor car purchased from Maruti Ltd)

(ii)	Motor Car A/c	Dr.		75,000
	To Maruti Ltd. A/c				75,000
	(Being motor car purchased from Maruti Ltd.)

(iii)	Maruti Ltd. A/c	Dr.		1,52,000
	To Motor car A/c				1,52,000
	(Being Motor car return to Maruti Ltd.)

(iv)	Maruti Ltd. A/c	Dr.		1,20,000
	To Motor car A/c				1,20,000
	(Being Motor car return to Maruti Ltd.)

(v)	Accounting Machinery A/c	Dr.		40,000
	To cash A/c				40,000
	(Being purchased accounting machinery)

(vi)	Motor car A/c	Dr.		8,00,000
	To Tata Motor A/c				8,00,000
	(Being 5 Motor car bought from Tata Motor)

(vii)	Tata Motor A/c	Dr.		1,60,000
	To Motor Car A/c				1,60,000
	(Being 1 car returned to Tata motor)

(viii)	Tata Motor A/c	Dr.		6,40,000
	To Cash A/c				6,40,000
	(Being paid to Tata motor by cheque)

(ix)	Drawing A/c	Dr.		1,20,000
	To Cash A/c				20,000
	To Bank A/c				1,00,000
	(Being withdrew cash and from the bank )

(x)	Tata Motor A/c	Dr.		1,60,000
	To Motor Car A/c				1,60,000
	(Being 1 car returned to Tata motor)

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Also, Check out the solved question of all Chapters from the following links: –

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)

Check out the Accountancy Class +1 by D.K. Goal (Arya Publication) from their official Site.