Question No 14 Chapter No 9 – D.K Goal 11 Class

Question No 14 Chapter No 9

14. Record the following transactions of M/s Mahipal Bros. in Proper Subsidiary Books, post them into the Ledger and take out a Trial Balance:

2018
Jan.1	Commenced business with Cash 2,00,000
Jan.2	Deposited into U.T.I Bank 1,75,000.
Jan.4	Purchased goods from Dilip for 40,000. Trade Discount 20%.
Jan.6	Gave a cheque to Dilip for 16,800 and a discount allowed by him 200.
Jan.8	Goods bought from Nilesh for Cash 14,000
Jan.10	Accepted a bill at 2 months for 15,000 drawn by Dilip.
Jan.11	Bought goods from Suresh 75,000.
Jan.13	Paid to Suresh a Cheque for 58,800 after receiving a discount of 2%.
Jan.15	Cash sales made to Jyoti Parshad 8,000.
Jan.16	Sold goods to Mohinder for 20,000
Jan.17	Goods returned by Mohinder for 1,500.
Jan.18	Received from Mohinder 7,900 after allowing a discount of 1.25%.
Jan.20	Goods sold to Banerjee 50,000.
Jan.21	Deposited into Bank 20,000.
Jan.25	Goods have taken for personal use 2,000.
Jan.25	Purchased furniture 40,000 and Typewriter 10,000 for office use. Payment for both the items is made by Cheque.
Jan.25	Sold goods to Anubhav 31,000.
Jan.27	Goods returned by Anubhav 5,000.
Jan.27	Received full payment from Banerjee by Cheque, sent it to Bank, Discount allowed 2%
Jan.28	Acceptance received from Anubhav at 31 days for the amount due from him.
Jan.28	Paid for stationery 400 and for Postage 200.
Jan.31	Rent of proprietor’s house paid by Cheque 2,500

The solution of Question No 14 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
Jan.1	To Capital A/c		–	2,00,000	–	Jan.2	By Bank A/c		–	1,75,000	–
Jan.02	To Cash A/c		–	–	175,000	Jan.6	By Dilip’s A/c		200	–	16,800
Jan.15	To Sales A/c		–	8,000	–	Jan.8	By Purchases A/c		–	14,000	–
Jan.18	To Mohinder’s A/c		100	7,900	–	Jan.13	By Suresh’s A/c		1,200	–	58,800
Jan.21	To Cash A/c		–	20,000	–	Jan.21	By Bank A/c			20,000	–
Jan.27	To Banerjee’s A/c		1,000	49,000	–	Jan.25	By Furniture A/c		–	–	40,000
						Jan.25	By Typewriter A/c		–	–	10,000
						Jan.28	By Stationery A/c		–	400	–
						Jan.28	By Postage A/c			200
						Jan.31	By Drawings A/c				2,500
May.31	To Balance c/d		1,100	–	–	May.31	By Balance C/d		1,400	6,310	1,15,900
			1,100	2,15,900	2,44,000				1,400	2,15,900	2,44,000

Purchases Book
Date	Particular	Detail	Total
2018 Apr.
4	Dilip	40,000
	Less: 20% Trade Discount	8,000
		32,000	32,000
11	Suresh	75,000
		75,000	75,000
			1,07,000

Sale Book
Date	Particular	Detail	Total
2018 Jan.
16	Mohinder	20,000
20	Banerjee	50,000
25	Anubhav	31,000
		1,00,000	1,00,000
			1,00,000

Sale Return Book
Date	Particular	Detail	Total
2018 Jan.
17	Mohinder	1,500
27	Anubhav	5,000
		6,500	6,500
			6,500

In the Books of Radhika Traders
Date	Particulars		L.F.	Debit	Credit
2019
Jan.06	Cash in hand A/c	Dr.		200
	To Discount Received A/c				200
	(Being Discount of Rs200 received from Dilip)
Jan.10	Dilip’s A/c	Dr.		15,000
	To Bills Payable A/c				15,000
	(Being Acceptance given for bill drawn by Dilip’s)
Jan.13	Suresh A/c	Dr.		1,200*
	To Discount Received A/c				1,200*
	(Being Computer purchased on credit)
Jan.18	Discount Allowed A/c	Dr.		100**
	To Mohinder				100**
	(Being Acceptance given for bill drawn by Ekta)
Jan.25	Drawings A/c	Dr.		2,000
	To Purchases A/c				2,000
	(Being goods taken for personal use )
Jan.27	Discount Allowed A/c	Dr.		1,000
	To Banerjee				1,000
	(Being Goods withdrawn by proprietor)
Jan.28	Bills Receivable A/c	Dr.		25,000
	To Anubhav’s A/c				25,000
	(Being Acceptance received from Anubahv)

Working Note:-

*Amount of discount received to Suresh(98% Value) = 58,000

*Amount of discount received (2% Value)	=	58,800	X	2
		98
	=	Rs 1,200

**Amount of discount received from Mohinder(98.75% Value) = 7,900

**Amount of discount received (1.25% Value)	=	7,900	X	1.25
		98.75
	=	Rs 100

Dr.	Sales A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
				Jan.1	By Cash A/c		8,000
				Jan.31	By Sundries as per Sales Book A/c		1,00,000
Jan. 31	To Balance c/d		1,08,000
			1,08,000				1,08,000

Dr.	Sales A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
				Jan.6	By Cash A/c		2,00,000
Jan. 31	To Balance c/d		2,000,000
			2,00,000				2,00,000

Dr.	Purchases A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan.08	To Cash A/c		14,000	Jan.25	By Drawings A/c		2,000
Jan.25	To Sundries as per Purchases Book A/c		1,07,000
				Apr. 30	By Balance c/d		1,19,000
			1,21,000				1,21,000

Dr.	Mohinder’s A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan.16	To Sales A/c		20,000	Jan.18	By Cash A/c		7,900
				Jan.18	By Discount Allowed A/c		100
				Jan.17	By Sales Return A/c		1,500
				Jan.31	By Balance c/d		10,500
			20,000				20,000

Dr.	Banerjee’s A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan.20	To Sales A/c		50,000	Jan. 27	By Bank A/c		49,000
				Jan. 27	By Discount Allowed A/c		1,000
			50,000				50,000

Dr.	Dilip’s A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan.06	To Bank A/c		16,800	Jan.04	By Purchases A/c		32,000
Jan.06	To Discount Received A/c		200
Jan.10	To Bills Payable A/c		15,000
			32,000				32,000

Dr.	Suresh’s A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan.13	To Bank A/c		58,800	Jan.04	By Purchases A/c		75,000
Jan.13	To Discount Received A/c		1,200
Jan.31	To Balance c/d		15,000
			75,000				75,000

Dr.	Furniture A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan.25	To Bank A/c		40,000
				Jan. 31	By Balance c/d		40,000
			40,000				40,000

Dr.	Stationery A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan.28	To Cash A/c		400
				Jan.31	By Balance c/d		400
			400				400

Dr.	Drawings A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan.25	To Purchases A/c		2,000
Jan.31	To Bank A/c		2,500	Jan. 31	By Balance c/d		4,500
			4,500				4,500

Dr.	Typewriter A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan.25	To Bank A/c		10,000
				Jan. 31	By Balance c/d		10,000
			10,000				10,000

Dr.	Postage A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan.28	To Cash A/c		200
				Jan. 31	By Balance c/d		200
			200				200

Dr.	Bills Payable A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
				Jan.10	To Dilip’s A/c		15,000
Jan.31	To Balance c/d		15,000
			15,000				15,000

Dr.	Discount Allowed A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Apr.19	To Charu’s A/c		600
				Apr. 30	By Balance c/d		600
			600				600

Dr.	Anubhav’s A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
				Jan.27	To Sales Return A/c		5,000
				Jan.28	To Bills Receivable A/c		25,000
Jan.31	To Balance c/d		30,000
			30,000				30,000

Dr.	Bills Receivable A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan.28	To Anubhav’s A/c		25,000
				Jan. 30	By Balance c/d		2,000
			25,000				25,000

Dr.	Discount Allowed A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan.18	To Mohinder’s A/c		100
Jan.27	To Banerjee’s A/c		1,000
				Jan. 30	By Balance c/d		1,100
			1,100				1,100

Dr.	Sales Return A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan.31	To Sundries as per Sales Return Book A/c		6,500
				Jan. 30	By Balance c/d		6,500
			6,500				6,500

Dr.	Discount Received A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
				Jan. 06	By Dilip’s A/c		200
				Jan. 13	By Suresh’s A/c		1,200
Jan.31	To Balance c/d		1,400
			1,400				1,400

Trail Balance A/c
Particulars	J.F.	Debit	Credit
Cash A/c		6,300
Bank A/c		1,15,900
Capital A/c			2,00,000
Sales A/c			1,08,000
Purchases A/c		1,19,000
Mohinder’s A/c		10,500
Suresh’s A/c			15,000
Furniture A/c		40,000
Typewriter A/c		10,000
Stationery A/c		400
Postage A/c		200
Drawings A/c		4,500
Bills Payable A/c			15,000
Bills Receivable A/c		25,000
Sales Return A/c		6,500
Discount Allowed A/c		1,100
Discount Received A/c			1,400
		3,39,400	3,39,400

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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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