Question No 15 Chapter No 9 – D.K Goal 11 Class

Question No 15 Chapter No 9

15. Enter the following transactions in proper Subsidiary Books, post them into Ledger Accounts, balance the accounts and prepare a Trial Balance :

2017
Jan.1	Assets : Cash in hand 20,000; Debtors : Sri Gopal 15,000, Poonam & Co. 30,000; Stock 1,75,000, Machinery 1,20,000; Furniture 40,000.
	Liabilities: Bank Overdraft 33,000; Creditors : Niranjan Lal 24,000, Bombay Trading Co. 16,000.
Jan.2	Purchased from Manohar Lal & Sons goods of the list price of 20,000 at 10% trade discount.
Jan.5	Returned to Manohar Lal & sons goods of the list price of 2,000.
Jan.10	Issued a Cheque to Manohar Lal & Sons in full settlement of their account
Jan.12	Sold to Sri Gopal, goods worth 25,000.
Jan.15	Received Cash 10,000 and a Cheque for 8,000 from Sir Gopal. The Cheque was immediately sent to the bank.
Jan.16	Withdrew for personal use: Cash 5,000 and goods 3,000
Jan.17	Accepted a bill for 45 days drawn by Niranjan Lal for the amount due to him.
Jan.18	Acceptance received from Poonam & Co. for the amount due from them payable after 30 days.
Jan.19	Sold to Raghubir Brothers, goods valued at 16,000.
Jan.20	Cash purchases 15,000.
Jan.22	Withdrew from the bank for office use 10,000.
Jan.23	Purchased from Bombay Trading Co., goods valued 24,000.
Jan.24	Sri Gopal returned goods worth 2,000
Jan.25	Received from Raghubir Brothers 10,000
Jan.27	Accepted a bill for 25,000 for 1 month drawn by Bombay Trading Co
Jan.27	Paid Rent by Cheque 2,800.
	Received Commission in Cash 800.
Jan.31	Paid salaries 5,000.

The solution of Question No 15 Chapter No 9: –

In the Books of Radhika Traders
Date	Particulars		L.F.	Debit	Credit
2019
Jan.01	Cash in Hand A/c	Dr.		20,000
	Sri Gopal’s A/c	Dr.		15,000
	Stock A/c	Dr.		1,75,000
	Poonam & Co. A/c	Dr.		30,000
	Machinery A/c	Dr.		1,20,000
	Furniture A/c	Dr.		40,000
	To Bank Overdraft A/c				33,000
	To Niranjan Lal’s A/c				24,000
	To Bombay Trading Co.				16,000
	To Capital A/c (Balancing Figure)				3,27,000
	(Being Balances of the previous year brought forward )
Jan.02	Purchases A/c	Dr.		18,000
	To Manohar Lal & Sons A/c				18,000
	(Being Goods purchased on credit)
Jan.05	Manohar Lal & Sons A/c	Dr.		1,800
	To Purchases Return A/c				1,800
	(Being Goods returned excluding trade discount @10)
Jan.10	Manohar Lal & Sons A/c	Dr.		16,200
	To Bank A/c				16,200
	(Being Cheque issued to Manohar Lal & Sons in full settlement of their account)
Jan.12	Sri Gopal’s A/c	Dr.		25,000
	To Sales A/c				25,000
	(Being Goods sold on credit to Sri Gopal)
Jan.15	Cash A/c	Dr.		10,000
	Bank A/c	Dr.		8,000
	To Sri Gopal’s A/c				18,000
	(Being Received cash & cheque from Sri Gopal)
Jan.16	Drawings A/c	Dr.		8,000
	To Cash A/c				5,000
	To Purchases A/c				3,000
	(Being Withdrew cash and goods for personal use)
Jan.17	Niranjan Lal’s A/c	Dr.		24,000
	To Bills Payable A/c				24,000
	(Being Acceptance given for the amount owed)
Jan.18	Bills Receivable A/c	Dr.		30,000
	To Poonam & Co				30,000
	(Being Acceptance received from debtor)
Jan.19	Raghubir Brothers A/c	Dr.		16,000
	To Sales A/c				16,000
	(Being Goods sold on credit)
Jan.20	Purchases A/c	Dr.		15,000
	To Cash A/c				15,000
	(Being Goods purchased for cash)
Jan.22	Cash A/c	Dr.		10,000
	To Bank A/c				10,000
	(Being Cash withdrawn from the bank for office use)
Jan.23	Purchases A/c	Dr.		24,000
	To Bombay Trading Co. A/c				24,000
	(Being Goods purchased on credit)
Jan.24	Sales Return A/c	Dr.		2,000
	To Sri Gopal’s A/c				2,000
	(Being Goods returned by Sri Gopal)
Jan.25	Cash A/c	Dr.		10,000
	To Raghubir Brothers A/c				10,000
	(Being Cash received from Raghubir)
Jan.27	Bombay Trading Co	Dr.		25,000
	To Bills Payable A/c				25,000
	(Being Acceptance given for the amount owed)
Jan.27	Rent A/c	Dr.		2,800
	To Bank A/c				2,800
	(Being Rent paid)
Jan.27	Cash A/c	Dr.		800
	To Commission A/c				800
	(Being Commission received)
Jan.31	Salaries A/c	Dr.		800
	To Cash A/c				800
	(Being Salaries paid)

Dr.	Cash A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan.1	To Balance b/d		20,000	Jan.16	By Drawings A/c		5,000
Jan.15	To Sri Gopal’s A/c		10,000	Jan.20	By Purchases A/c		15,000
Jan.22	To Bank A/c		10,000	Jan.31	By Salaries A/c		5,000
Jan.25	To Raghubir Brothers A/c		10,000
Jan.27	To Commission A/c		800
				Jan.31	By Balance c/d		25,800
			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.	Sri Gopal’s A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan.1	To Balance b/d		15,000	Jan.15	By Cash A/c		10,000
Jan.12	To Sales A/c		25,000	Jan.15	By Purchases A/c		8,000
				Jan.24	By Sales Return A/c		2,000
				Jan. 31	By Balance c/d		20,000
			40,000				40,000

Dr.	Poonam & Co. A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan.01	To Balance b/d		30,000
				Jan. 18	By Bills Receivable A/c		30,000
			30,000				30,000

Dr.	Stock A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan.01	To Balance b/d		1,75,000
				Jan. 31	By Balance c/d		1,75,000
			1,75,000				1,75,000

Dr.	Machinery A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan.01	To Balance b/d		1,20,000
				Jan.31	By Balance c/d		1,20,000
			1,20,000				1,20,000

Dr.	Furniture A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan.01	To Balance b/d		40,000
				Jan. 31	By Balance c/d		40,000
			40,000				40,000

Dr.	Niranjan Lal’s A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan.01	To Bill Payable A/c		24,000
				Jan. 31	By Balance c/d		24,000
			24,000				24,000

Dr.	Capital A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
				Jan.01	By Balance b/d		3,27,000
Jan.31	To Balance c/d		3,27,000
			3,27,000				3,27,000

Dr.	Bombay Trading Co A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan.27	To Bills Payable A/c		25,000	Jan.01	To Balance b/d		16,000
				Jan.23	To Purchases A/c		24,000
Jan.31	To Balance c/d		15,000
			40,000				40,000

Dr.	Purchases A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan.02	To Manohar Lal & Sons A/c		18,000	Jan.16	To Drawings A/c		3,000
Jan.20	To Cash A/c		15,000
Jan.23	To Bombay Trading A/c		24,000
				Jan. 31	By Balance c/d		54,000
			57,000				57,000

Dr.	Sales A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
				Jan. 12	By Sri Gopal’s A/c		25,000
				Jan. 19	By Raghubir Brothers A/c		16,000
Jan.31	To Balance c/d		41,000
			41,000				41,000

Dr.	Bills Payable A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan.05	To Purchases Return A/c		1,800	Jan.02	By Purchases A/c		18,000
Jan.10	To Bank A/c		16,200
			18,000				18,000

Dr.	Bank A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan.15	To Sri Gopal’s A/c		8,000	Jan.01	By Balance b/d		33,000
				Jan.19	By Manohar Lal & Sons A/c		16,200
				Jan.22	By Cash A/c		10,000
				Jan.27	By Rent A/c		2,800
Jan.31	To Balance c/d		54,000
			600				600

Dr.	Drawings A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan.16	To Cash A/c		5,000
Jan.16	To Purchases A/c		3,000
				Jan. 31	By Balance c/d		8,000
			8,000				8,000

Dr.	Purchases Return A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
				Jan. 05	By Manohar Lal & Sons A/c		1,800
Jan.31	To Balance c/d		1,800
			1,800				1,800

Dr.	Bills Payable A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
				Jan. 17	By Niranjan Lal’s A/c		24,000
				Jan. 27	By Bombay Trading Co. A/c		25,000
Jan.31	To Balance c/d		49,000
			49,000				49,000

Dr.	Bills Receivable A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan.18	To Poonam & Co A/c		30,000
				Jan. 30	By Balance c/d		30,000
			30,000				30,000

Dr.	Raghubir Brothers A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan.19	To Sales A/c		16,000	Jan.25	By Dilip’s A/c		10,000
				Jan. 31	By Balance c/d		6,000
			16,000				16,000

Dr.	Sales Return A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan.24	To Sri Gopal’s A/c		2,000
				Jan. 31	By Balance c/d		2,000
			2,000				2,000

Dr.	Rent A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan.27	To Bank A/c		2,800
				Jan. 31	By Balance c/d		2,800
			2,800				2,800

Dr.	Commission A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
				Jan. 31	By Cash A/c		800
Jan. 31	To Balance c/d		800
			800				800

Dr.	Salaries A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan.31	To Cash A/c		5,000
				Jan. 31	By Balance c/d		5,000
			5,000				5,000

Trail Balance A/c
Particulars	J.F.	Debit	Credit
Cash A/c		25,800
Sri Gopal A/c		20,000
Stock A/c		1,75,000
Furniture A/c		40,000
Machinery A/c		1,20,000
Capital A/c			3,27,000
Bombay Trading Co. A/c			15,000
Purchases A/c		54,000
Sales A/c			41,000
Bank A/c			54,000
Purchases Return A/c			1,800
Drawings A/c		8,000
Bills Payable A/c			49,000
Bills Receivable A/c		30,000
Raghubir Brothers A/c		6,000
Sales Return A/c		2,000
Rent A/c		2,800
Commission A/c			800
Salaries A/c		5,000
		4,88,600	4,88,600

 

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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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