Question No 06 B Chapter No 7 – D.K Goal 11 Class

Question No 06 B Chapter No 7

06. (B)Enter the following transactions in a Triple Column Cash Book:-

2018		Rs
Dec.1	Started business with cash	50,000
Dec.2	Pays into Bank	29,000
Dec.3	Received cheque from Raja & Co.	800
	Discount allowed	20
Dec.5	Withdrew cash from bank for private use	240
Dec.10	Purchased goods for 1,00,000; IGST 18%; Payment made by Cheque
Dec.12	Sold goods for 1,50,000; Trade Discount 20%; IGST 18%; Payment received by Cheque
Dec.14	Received cheque from Kamla	395
	Discount allowed	15
Dec.16	Kamla’s cheque endorsed to Bala in full settlement of her account of 425
Dec.29	Paid rent by cheque	1,000
Dec.30	Deposited into the bank, the balance of cash in excess of	450

The solution of Question No 06 B Chapter No 7: –

Dr.	Cash Book										Cr.
Date	Particulars	L. F.	Discount Allowed	Cash	Bank	Date	Particulars	L. F.	Discount Received	Cash	Bank
2020						2020
Dec.1	To Balance b/d		–	50,000	–	Dec.02	By Bank A/c		–	29,000	–
Dec.2	To Cash A/c		–	–	29,000	Dec.05	By Drawings A/c		–	–	240
Dec.3	To Raja & Co. A/c		–	–	800	Dec.10	By Purchase A/c		–	–	1,00,000
Dec.12	To Sale A/c		–	–	1,20,000	Dec.10	By input IGST A/c		–	–	18,000
Dec.12	To Output IGST A/c		–	–	21,600	Dec.29	By Rent A/c			–	1,000
Dec.30	To Cash A/c		–	–	20,550	Dec.30	By Bank A/c		–	20,550	–
Jun.30	To Balance c/d		35		–	Jun.30	By Balance C/d		50	450	72,710
			35	50,000	1,91,950				50	50,000	1,91,950

 

Date	Particulars		L.F.	Debit	Credit
2020
Dec. 14	Cheques-in-Hand A/c	Dr.		395
	Discount Allowed A/c	Dr.		15
	To Kamla A/c				400
	(Being Received cheque from Kamla)
Dec. 16	Bala A/c	Dr.		425
	To Cheques-in-Hand A/c				395
	To Discount Received A/c				30
	(Being Cheque received from Kamla, endorsed to Bala)

Cash Deposited into the Bank

Cash Deposited into the bank	=	Total Cash Column (Dr. side) – Total Cash Column (Cr. side) +Cash Balance maintained
	=	50,000 – (29,000 + 450)
	=	Rs 20,550

Note: Transaction dated December 03, 2016, does not contain any information regarding date of depositing the cheque, so it has been assumed that the cheque has been deposited on the same day.

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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)

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