Question No 05 Chapter No 9
03.Following balances appeared in the books of Ram & Shyam on January 1, 2017 :−
Assets : Cash in hand 30,000; Stock 36,000; Lal Chand 7,600; Mukesh Khanna 16,200; Furniture 8,000.
Liabilities : Ghanshyam 6,000; Vinod 8,000.
Following transactions took place during Jan. 2018:−
| 2020 | Rs | |
| May.1 | Opening Balance (Dr.) | 8,600 |
| May.12 | Sold goods to him | 40,000 |
| May.14 | Goods returned by him | 1,000 |
| May.16 | Received cash from him | 10,000 |
| May.20 | Received a cheque from him | 15,000 |
| Discount allowed to him | 300 |
CGST & SGST and levied @6% each
The solution of Question No 05 Chapter No 9: –
| In the Books of Radhika Traders |
|||||
| Date | Particulars |
L.F. | Debit | Credit | |
| 2019 | |||||
| May.12 | Ram A/c | Dr. | 44,800 | ||
| To Sales A/c | 40,000 | ||||
| To Output CGST A/c | 2,400 | ||||
| To Output SGST A/c | 2,400 | ||||
| (Being Goods sold to Ram plus 9% CGST & SGST) | |||||
| May.14 | Sale Return A/c | Dr. | 1,000 | ||
| Output CGST A/c | Dr. | 60 | |||
| Output SGST A/c | Dr. | 60 | |||
| To Ram A/c | 1,120 | ||||
| (Being goods return by Ram plus 6% CGST & SGST) | |||||
| May.16 | Cash A/c | Dr. | 10,000 | ||
| To Ram A/c | 10,000 | ||||
| (Being cash received from Ram) | |||||
| May.20 | Bank A/c | Dr. | 15,000 | ||
| Discount Allowed A/c | Dr. | 300 | |||
| To Ram A/c | 15,300 | ||||
| (Being cheque from ram) | |||||
| Dr. | Cash A/c | Cr. | |||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
| 2018 | 2018 | ||||||
| May. 1 | To Balance c/d | 8,600 | May. 14 | By Sale Return A/c | 1,000 | ||
| May.12 | To Sale. A/c | 40,000 | May. 14 | By Output CGST A/c | 60 | ||
| May.12 | To Output CGST A/c | 2,400 | May. 14 | By Output SGST A/c | 60 | ||
| May.12 | To Output SGST A/c | 2,400 | May. 16 | By Cash A/c | 10,000 | ||
| May.20 | By Bank A/c | 15,000 | |||||
| May.20 | By Discount allowed A/c | 300 | |||||
| May. 31 | By Balance c/d | 26,980 | |||||
| 53,400 | 53,400 | ||||||
The amount Dr. Balance Rs 126,980 indicates that this amount is owing from him
https://tutorstips.com/ledger/
Thanks, Please Like and share with your friends
Comment if you have any question.
Also, Check out the solved question of all Chapters: –
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)
Check out the Accountancy Class +1 by D.K. Goal (Arya Publication) from their official Site.
