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

Shubham
Question No 12(B) Chapter No 5

Question No 12(B) Chapter No 5

12. (B) Following was the position of Harish & Co. as on 1st April, 2017 :− Cash in Hand 10,000; Cash at Bank 16,800; Furniture 8,000; Stock 50,000; Debtors− Ram 8,000; Shyam 12,000; Creditors− Anil 4,000; Sunil 5,000. Following transactions took place during April 2018:−

2018  
Apr.2 Received a cheque from Ram in full settlement of his account after deducting a 5% cash discount.
Apr.4 Deposited the above cheque into Bank
Apr.5 Goods purchased for 20,000 at 10% trade discount and 5% cash discount. Payment made by cheque.
Apr.6 Received a cheque from Shyam for 3,860 and a discount allowed to him 140. Cheque deposited into the bank on the same day.
Apr.10 Cash paid to Anil after deducting 2% cash discount.
Apr.15 Old furniture sold for 800
Apr.16 Sold goods to Shiv Parshad of the list price of 10,000 at a trade discount of 15%.
Apr.18 Shiv Parshad returned goods of the list price of 1,000.
Apr.20 Paid for furniture repairs to Bahadur Singh 100.
Apr.25 Received a cheque from Shiv Parshad after deducting a 4% cash discount. A cheque was deposited into a bank.
Apr.28 Bank charged 50 for ‘Bank Charges’.
Apr.30 Received Commission 200.

The solution of Question No 12(B) 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.   10,000  
  Cash at Bank A/c Dr.   16,800  
  Furniture A/c Dr.   8,000  
  Stock A/c Dr.   50,000  
  Ram’s A/c Dr.   8,000  
  Shyam’s A/c Dr.   12,000  
  To Anil’s A/c       4,000
  To Sunil’s A/c       5,000
  To Capital A/c (Balancing figure)       95,800
  (Being balances of the previous year brought forward .)      
         
Apr.2 Cheques-in-Hand A/c Dr.   7,600  
  Discount Allowed A/c Dr.   400  
  To Ram’s A/c       8,000
  (Being Cheque received from Ram in full settlement)      
           
Apr.4 Bank A/c Dr.   7,600  
  To Cheques-in-Hand A/c     7,600
  (Being Cheques −in −hand sent to bank)      
         
Apr.5 Purchases A/c Dr.   18,000  
  To Bank A/c     17,100
  To Discount Received A/c     900
  (Being Draft received from Mohan deposited into the bank)      
         
Apr.6 Bank A/c Dr.   3,860  
  Discount Allowed A/c Dr.   140  
  To Shyam’s A/c     4,000
  (Being Cheque received from Shyam)      
         
Apr. 10 Anil’s A/c Dr.   4,000  
  To Cash A/c     3,920
  To Discount Received A/c     80
  (Being Cash paid to Anil in full settlement )      
         
Apr. 15 Cash A/c Dr.   800  
  To Furniture A/c       800
  (Being Furniture sold for cash)        
           
Apr. 16 Shiv Parshad’s A/c Dr.   8,500  
  To Sales A/c       8,500
  (Being Goods sold to Shiv Pars had on credit)        
           
Apr. 18 Sales Return A/c Dr.   850  
  To Shiv Parshad’s A/c       850
  (Being goods returned by ShivParsh)        
           
Apr.20 Repairs A/c Dr.   100  
  To Cash A/c       100
  (Being Cash paid for the repair of furniture.)        
           
Apr.25 Bank A/c Dr.   7,344  
  Discount Allowed A/c Dr.   306  
  To Shiv Parshad’s A/c       7,650
  (Being Cheque received in full settlement.)        
           
Apr.28 Bank Charges A/c Dr.   50  
  To Bank A/c       50
  (Being Bank charged some charges)        
           
Apr.28 Bank Charges A/c Dr.   50  
  To Bank A/c       50
  (Being Cash received and bad −debts written off.)        
           
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 Cash A/c Dr.   200  
  To Commission A/c       200
  (Being Commission received.)        
         

Check out our article on the meaning of financial accounting: 

https://tutorstips.com/introduction-to-financial-accounting/

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D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution

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