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

Question No 12(A) Chapter No 5

12(A). Following balances appeared in the books of Radhika Traders as on 1st April, 2017:− Assets: Cash 8,000; Cash at Bank 7,000; Stock 30,000; Debtors : 36,000 Mohan 10, 000;Sohan 12, 000; Dinesh 14, 000 ; Furniture 5,000; Building 25,000. Liabilities: Creditors− X 5,000; Y 6,000. In April 2017, the following transaction took place:

2018		Rs
Apr.2	Bought goods of the list price of 6,000 from Khanna Brothers less 15% trade discount and 2% cash discount and paid 40% price at the same time
Apr.3	Received a draft from Mohan in full settlement and deposited it into Bank	9,750
Apr.5	Purchased goods from Suresh of the list price of 8,000 at 20% trade discount and paid him by cheque.
Apr.8	Sold goods and received a cheque	25,000
Apr.10	Deposited the above cheque into Bank
Apr.12	Sohan deposited in our Bank A/c	4,000
Apr.16	Paid Income Tax by Cheque	5,600
Apr.20	Received a cheque from Sohan and sent it to Bank	7,800
	Discount allowed	200
Apr.21	Withdrew from Bank−for office	2,000
	for private use	4,000
Apr.23	Sent a cheque to X in full settlement of his A/c	4,900
Apr.27	The cheque of Sohan returned by the bank as dishonored.
Apr.28	Dinesh was declared insolvent and a payment of 60 paise in a received from his estate by a Cheque
Apr.30	Bank allowed Interest	350
	Paid for Rent by cheque	1,500
	Paid for traveling expenses by cheque	500

The solution of Question No 12(A) 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.		8,000
	Cash at Bank A/c	Dr.		7,000
	Stock A/c	Dr.		30,000
	Mohan’s A/c	Dr.		10,000
	Sohan’s A/c	Dr.		12,000
	Dinesh’s A/c	Dr.		14,000
	Furniture A/c	Dr.		5,000
	Building A/c	Dr.		25,000
	To X’s A/c				5,000
	To Y’s A/c				6,000
	To Capital A/c (Balancing figure)				1,00,000
	(Being balances of the previous year brought forward .)
Apr.2	Purchases A/c	Dr.		5,100
	To Khanna Brothers				3,060
	To Cash A/c				1,999
	To Discount Received A/c				41
	(Being Goods purchased and received a discount on cash payment.)
Apr.3	Bank A/c	Dr.		9,750
	Discount Allowed A/c	Dr.		250
	To Mohan A/c				1,000
	(Being Draft received from Mohan deposited into the bank)
Apr.5	Purchases A/c	Dr.		6,400
	To Bank A/c				6,400
	(Being Goods purchased and payment made by cheque)
Apr.8	Cheques-in-Hand A/c	Dr.		25,000
	To Sales A/c				25,000
	(Being goods sold and received a cheque.)
Apr. 10	Bank A/c	Dr.		25,000
	To Cheques-in-Hand A/c				25,000
	(Being Cheque deposited into the bank)
Apr.12	Bank A/c	Dr.		6,400
	To Sohan’s A/c				6,400
	(Being Amount deposited by Sohan )
Apr. 16	Drawings A/c	Dr.		5,600
	To Cash A/c				5,600
	(Being Incometax paid)
Apr.20	Bank A/c	Dr.		7,800
	Discount Allowed A/c	Dr.		200
	To Sohan’s A/c				8,000
	(Being Banked cash received from Sohan in full settlement.)
Apr.21	Drawings A/c	Dr.		4,000
	Cash A/c	Dr.		2,000
	To Bank A/c				6,000
	(Being Amount withdrawn for office and personal use.)
Apr.23	X A/c	Dr.		5,000
	To Bank A/c				4,900
	To Discount Received A/c				100
	(Being Cheque issued to X in full settlement of his account)
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	Bank A/c	Dr.		350
	To Interest A/c				350
	(Being Interest allowed by the bank.)
Apr.30	Rent A/c	Dr.		1,500
	Traveling Expenses A/c	Dr.		500
	To Bank A/c				2,000
	(Being Expenses paid through cheque.)

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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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