Question No 14 Chapter No 8 – D.K Goal 11 Class

Question No 14 Chapter No 8 – D.K Goal

14. Enter the following transactions of a dealer in electrical goods in the appropriate subsidiary books:

2018		Rs
Jan.1	Assets : Cash in hand 12,400; Stock 3,60,000; Debtors : Abhilash 20,000; Bhuwan 30,000, Charu 52,000; Furniture 2,25,000
	Liabilities : Bank overdraft 38,000; Creditors : Dinesh 15,000; Eknath 25,000
Jan.3	Purchased from Raghuraj & Sons :
	80 electric Kettles @ 300 each
	40 electric irons @ 420 each
	20% Trade Discount
Jan.5	Withdrew from Bank	20,000
Jan.6	Acceptance received from Abhilash at one month for the amount due from him
Jan.10	Purchased a computer from Gursharan Bros. on credit for office use	40,000
Jan.12	Returned 10 electric kettles to Raghuraj & Sons
Jan.14	Paid Raghuraj & Sons by cheque the balance due to them
Jan.15	Paid to Gursharan Bros. 30,000 in cash and the balance by a cheque
Jan.16	Paid wages in cash	500
Jan.20	Purchased from Dinesh :
	10 Washing Machines @ 16,000 each
	4 Vacuum cleaners @ 6,000 each
	15% Trade Discount
Jan.22	Sold to Charu
	200 electric shavers @ 250 each
	400 toasters @ 150 each
	450 heaters @ 200 each
	10% Trade Discount
Jan.24	Received from Charu a cheque in full settlement of his account. The cheque is paid into the bank.	2,30,000
Jan.25	Acceptance is given to Dinesh for 30 days	1,50,000
Jan.25	Cheque issued to Dinesh in full settlement of his account	21,000
Jan.25	Sold for Cash 20 electric irons	9,000
Jan.27	Deposited into bank	5,000
Jan.30	Paid staff salaries by cheque	15,000
Jan.30	Bank charged incidental expenses 50 and charged interest 1,200.

The solution of Question No 14 Chapter No 8 – D.K Goal: –

Dr.	Cash Book										Cr.
Date	Particulars	L. F.	Discount Allowed	Cash	Bank	Date	Particulars	L. F.	Discount Received	Cash	Bank
2020						2020
Jan.1	To Balance b/d		–	12,400	–	Jan.08	By Balance b/d		–	–	38,000
Jan.5	To Bank A/c		–	20,000	–	Jan.5	By Cash A/c		–	–	20,000
Jan.24	To Charu A/c		2,000	–	2,30,000	Jan.14	By Raghuraj & Sons A/c		–	–	30,240
Jan. 25	To Sale A/c		–	9,000	–	Jan.15	By Gursharan Bros. A/c		–	30,000	10,000
Jan.27	To Cash A/c		–	–	5,000	Jan.16	By Wages A/c			500	–
						Jan.25	By Dinesh A/c		400	–	21,000
						Jan.27	By Bank A/c		–	5,000	–
						Jan.30	By Salary A/c A/c				15,000
						Jan.30	By Bank Charge A/c				50
						Jan.30	By Bank Interest A/c		–	–	1,200
Jun.30	To Balance c/d		2,000		–	Jun.30	By Balance C/d		400	7,500	48,310
			2,000	41,400	2,35,000				400	41,400	2,35,000

 

Purchases Book
Date	Particular	Detail	Total
2018 Jan.
3	Raghuraj & Sons
	80 Electric Kettles @ Rs 300 each	24,000
	40 Electric Irons @ Rs 420 each	16,800
	Less: 20% Trade Discount	8,160
		32,640	32,640
20	Dinesh
	10 Washing Machines @ Rs 16,000 each	1,60,000
	4 Vacuum Cleaners @ Rs 6,000 each	24,000
	Less: 15% Trade Discount	27,600
		1,56,400	1,56,400
			1,89,040

 

Sale Book
Date	Particular	Detail	Total
2018 Jan.
22	Charu
	200 Electric Shavers @ Rs 250 each	50,000
	400 Toasters @ Rs 150 each	60,000
	450 Heaters @ Rs 200 each	90,000
	Less: 10% Trade Discount	20,000
		1,80,000	1,80,000
			1,80,000

 

Purchases Return Book
Date	Particular	Detail	Total
2018 Jan.
12	Raghuraj & Sons
	10 Electric Kettles @ Rs 300 each	3,000
	Less: 20% Trade Discount	600
		2,400	2,400
			2,400

 

In the Books of Radhika Traders
Date	Particulars		L.F.	Debit	Credit
2019
Jan.1	Cash A/c	Dr.		12,400
	Stock A/c	Dr.		3,60,000
	Abhilash A/c	Dr.		20,000
	Bhuwan A/c	Dr.		30,000
	Charu A/c	Dr.		52,000
	Furniture A/c	Dr.		2,25,000
	To Bank Overdraft A/c				38,000
	To Dinesh A/c				15,000
	To Eknath A/c				25,000
	To Capital A/c (balancing figure)				6,21,400
	(Being Opening balances brought forward.)
Jan.6	Bills Receivable A/c	Dr.		20,000
	To Abhilash A/c				20,000
	(Being Acceptance received for the amount due from him )
Jan.10	Computer A/c	Dr.		40,000
	To Gurusharan Bros A/c				40,000
	(Being Acceptance given to Ganga Parshad.)
Jan.24	Discount Allowed A/c	Dr.		2,000
	To Charu A/c				2,000
	(Being Discount of Rs2,000 allowed to Charu)
Jan.25	Dinesh A/c	Dr.		1,50,000
	To Bills Payable A/c				1,50,000
	(Being Acceptance given )
Jan.25	Dinesh A/c	Dr.		400
	To Discount Received A/c				400
	(Being Discount of Rs 400 received on payment to Dinesh)

 

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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)

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