Question No 08 Chapter No 9 – D.K Goal 11 Class

Question No 08 Chapter No 9

01. Journalise the following transaction, post them into Ledger, Balance the accounts and prepare a Trial Balance.

May.1	Balance of Cash in Hand 12,400; Bank Overdraft 36,000.
May.3	Direct deposit by Mr. Ganesh in our bank account 10,000. Discount allowed 200.
May.5	Issued a cheque of 7,700 to Mr. Suresh in full settlement of his account of 8,000
May.6	Received a cheque from X for 12,000. Discount allowed 500. This cheque was deposited into bank on 7th May.
May.8	Received Cash 22,000 and cheque of 8,000 for cash sale.
May.12	Cash sale 70,000 of which 55,000 banked
May.15	The cheque received on 8th May endorsed to Mr. Sunil. Discount received 150
May.20	Discounted a B/R of 10,000 at 1% through bank
May.24	Cheque received from X dishonored, Bank debits 20 in respect of bank charges.
May.25	5 Purchased goods for 50,000 at a trade discount of 10%. The payment was made in cash.
May.26	Withdrew from bank 10,000 for office use and 2,000 for personal use
May.30	Withdrew from bank 10,000 for office use and 2,000 for personal use

The solution of Question No 08 Chapter No 9: –

Dr.	Cash Book										Cr.
Date	Particulars	L. F.	Discount Allowed	Cash	Bank	Date	Particulars	L. F.	Discount Received	Cash	Bank
2020						2020
May.1	To Balance c/d		–	12,400	–	May.1	By Balance b/d		–	–	36,000
May.03	To Ganesh’s A/c		200	–	10,000	May.5	By Suresh’s A/c		–	–	7,700
May.07	To X A/c		500	–	12,000	May.24	By X A/c		–	–	12,000
May.08	To Sales A/c		–	22,000	–	May.24	By Bank Charges A/c		–	–	20
May.12	To Sales A/c		–	15,000	55,000	May.25	By Purchase A/c			45,000	–
May.20	To Bills Receivable A A/c		–	–	9,900	May.26	By Cash A/c		–	–	10,000
May.26	To Bank A/c			10,000		May.26	By Drawings A/c				2,000
						May.31	By Interest A/c				4,500
May.31	To Balance c/d		700	–	–	May.31	By Balance C/d		–	14,400	14,680
			700	59,400	86,900				–	59,400	86,900

In the Books of Radhika Traders
Date	Particulars		L.F.	Debit	Credit
2019
May 06	Cheques-in-Hand A/c	Dr.		12,000
	Discount Allowed A/c	Dr.		500
	To X A/c				12,500
	(Being Cheque received from X but not banked)
May.8	Cheques-in-Hand A/c	Dr.		8,000
	To Cash A/c				8,000
	(Being Cheque received for sales but not banked)
May 15	Sunil’s A/c	Dr.		8,150
	To Cheques-in-Hand A/c				8,000
	To Discount Received A/c				150
	(Being Cheque received from sales endorsed to Sunil )
May.20	Discounting Charges A/c	Dr.		100
	To Bills Receivable A/c				100
	(Being Bills receivable discounted with bank )
May.24	X A/c	Dr.		500
	To Discount Allowed A/c				500
	(Being Discount canceled)

Dr.	Discount Allowed A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
May.03	By Ganesh’s A/c		500	May.24	By X A/c		500
May.06	By X A/c		200
				May. 31	By Balance c/d		200
			700				700

Dr.	Discount Received A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
				May.05	By Suresh’s A/c		300
				May.15	By Sunil’s A/c		150
May. 31	To Balance c/d		450
			450				450

Dr.	Cheques-in-Hand Account A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
May.06	To X’s A/c		12,000	May.07	To Bank A/c		12,000
May.08	To Sales A/c		8,000	May.15	To Sunil’s A/c		8,000
			20,000				20,000

Dr.	Discounting Charges A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
May.20	To Bills Receivable A/c		100
				May. 31	By Balance c/d		100
			100				100

Dr.	Bills Receivable A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
				May.1	By Bank A/c		9,900
				May.1	By Discounting Charges A/c		100
May.31	To Balance c/d		10,000
			10,000				10,000

Dr.	Ganesh’s A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
				May.1	By Bank A/c		10,000
				May.1	By Discounting Charges A/c		200
May.31	To Balance c/d		10,200
			10,200				10,200

Dr.	Purchases Return  A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
				Mar.6	By Raghu’s A/c		4,000
Mar.31	To Balance c/d		4,000
			4,000				4,000

Dr.	X’s A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
May.24	To Bank A/c		12,000	May.06	By Cheques-in-Hand A/c		12,000
May.24	To Discount Allowed A/c		500	May.06	By Discount Allowed A/c		500
			12,500				12,500

Dr.	Sales A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
				May.08	By Cash A/c		22,000
				May.08	By Cheques-in-Hand A/c		8,000
				May.15	By Cash A/c		15,000
				May.15	By Bank A/c		55,000
May.31	To Balance c/d		1,00,000
			1,00,000				1,00,000

Dr.	Suresh’s A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
May.05	To Bank A/c		7,700
May.05	To Discount Received A/c		300
				May. 31	By Balance c/d		8,000
			8,000				8,000

Dr.	Bank Charges A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
May.24	To Bank A/c		20
				May. 31	By Balance c/d		20
			20				20

Dr.	Purchases A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
May.25	To Bank A/c		45,000
				May. 31	By Balance c/d		45,000
			45,000				45,000

Dr.	Drawings A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
May.26	To Bank A/c		2,000
				May. 31	By Balance c/d		2,000
			2,000				2,000

Dr.	Interest A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
May.31	To Bank A/c		4,500
				May. 31	By Balance c/d		4,500
			4,500				4,500

Dr.	Sunil’s A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
May.15	To Cheques-in-Hand A/c		8,000
May.15	To Discount Received A/c		150
				May. 31	By Balance c/d		8,150
			8,150				8,150

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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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