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11th | Journal | Question No. 1 To 4 | Ts Grewal Solution 2022-2023

Question 1:


Pass necessary Journal Entry for the following transactions:

2022

 

`

April 1

 Business started with cash

1,00,000

April 2

Goods purchased for Cash

25,000

April 3

Goods purchased from Pankaj on Credit

18,000

April 5

 Goods sold to Naresh on Credit

9,000

April 7

Goods returned to Pankaj

12,000

April 9

Goods returned by Naresh

1,400

April 10

 Cash paid to Ajay

6,000

April 12

 Commission received

2,700

April 15

 Furniture purchased

7,000

April 16

 Rent paid to Amit

5,000

April 19

 Sold goods to Sumit for cash

6,000

April 24

 Cash Sales

7,000

 April 30

 Cash received from Naresh on Account 

5,000

April 30

 Salaries Paid

10,000

Answer:


Journal

Date

Particulars

L.F.

Debit

`

Credit

`

2022

 

 

 

 

 

Apr 01

Cash A/c

Dr.

 

1,00,000

 

 

  To Capital A/c

 

 

 

1,00,000

 

(Being started business with cash)

 

 

 

 

 

 

 

 

 

 

Apr 02

Purchases A/c

Dr.

 

25,000

 

 

To Cash A/c

 

 

 

25,000

 

(Being goods purchased)

 

 

 

 

 

 

 

 

 

 

Apr 03

Purchases A/c

Dr.

 

18,000

 

 

To Pankaj A/c

 

 

 

18,000

 

(Being goods purchased on Credit from Pankaj)

 

 

 

 

 

 

 

 

 

 

Apr 05

Naresh’s A/c

Dr.

 

9,000

 

 

  To Sales A/c

 

 

 

9,000

 

( Being goods sold to Naresh on Credit)

 

 

 

 

 

 

 

 

 

 

Apr 07

Pankaj’s  A/c

Dr.

 

12,000

 

 

 To Purchases return A/c

 

 

 

12,000

 

(Being goods returned to Pankaj)

 

 

 

 

 

 

 

 

 

 

Apr 9

Sales return A/c

Dr.

 

1,400

 

 

To Naresh’s A/c

 

 

 

1,400

 

(Being goods returned by Naresh)

 

 

 

 

 

 

 

 

 

 

Apr 10

Ajay’s A/c

Dr.

 

6,000

 

 

  To Cash A/c

 

 

 

6,000

 

(Being cash paid to Ajay)

 

 

 

 

 

 

 

 

 

 

Apr 12

Cash A/c

Dr.

 

2,700

 

 

  To Commission Received A/c

 

 

 

2,700

 

(Being commission Received)

 

 

 

 

 

 

 

 

 

 

Apr 15

Furniture A/c

Dr.

 

7,000

 

 

  To Cash A/c

 

 

 

7,000

 

(Being purchased furniture)

 

 

 

 

 

 

 

 

 

 

Apr 16

Rent A/c

Dr.

 

5,000

 

 

  To Cash a/c

 

 

 

5,000

 

(Being rent paid to Amit)

 

 

 

 

 

 

 

 

 

 

Apr 19

Cash A/c

Dr.

 

6,000

 

 

  To sales  A/c

 

 

 

6,000

 

(Being goods sold to Sumit for cash)

 

 

 

 

 

 

 

 

 

 

Apr 24

Cash A/c

Dr.

 

7,000

 

 

  To sales  A/c

 

 

 

7,000

 

(Being goods sold goods for cash)

 

 

 

 

 

 

 

 

 

 

April 30

Cash A/c         Dr.

  To Naresh’s  A/c      

 

 

5,000

 

5,000

 

(Being cash received from Naresh on Account)

 

 

 

 

 

 

 

 

 

 

April 30

Salary A/c

Dr.

 

10,000

 

 

 To Cash a/c

 

 

 

10,000

 

(Being salary Paid)

 

 

 

 

 

Question 2:


Enter the following transactions in the Journal of Ram:

2022

 

`

June 1

Ram invested capital in Cash

1,00,000

June 3

Purchased goods from Harish

10,000

June 5

Purchased goods for cash

8,000

June 8

Purchased goods from Mohan for cash

7,000

June 10

Sold goods to KaiIash on credit

2,000

June 12

Sold goods to Nadeem for cash

1,500

June 14

Goods returned by Kailash

500

June 16

Goods returned to Harish

360

June 18

Machinery purchased from Sohan

8,000

June 19

Paid to Harish on Account

5,000

June 25

Cash withdrawn for Personal use

5,000

June 30

Old newspapers sold

200

June 30

Received loan from Mohan and deposited in bank

50,000

Answer:


Journal

Date

Particulars

L.F.

Debit

`

Credit

`

2022

 

 

 

 

 

June 1

Cash A/c

Dr.

 

1,00,000

 

 

  To Capital A/c

 

 

 

1,00,000

 

( Being Ram invested capital in Cash)

 

 

 

 

 

 

 

 

 

 

June 3

Purchases A/c

Dr.

 

10,000

 

 

To Hari’s A/c

 

 

 

10,000

 

(Being goods  Purchased from Harish)

 

 

 

 

 

 

 

 

 

 

June 05

Purchases A/c

Dr.

 

8,000

 

 

To Cash A/c

 

 

 

8,000

 

( Being goods Purchased  for cash)

 

 

 

 

 

 

 

 

 

 

June 08

Purchases A/c

Dr.

 

7,000

 

 

To Cash A/c

 

 

 

7,000

 

(Being goods  Purchased from Mohan for cash)

 

 

 

 

 

 

 

 

 

 

June 10

Kailash’s  A/c

Dr.

 

2,000

 

 

 To Sales A/c

 

 

 

2,000

 

(Being goods  Sold to KaiIash on credit)

 

 

 

 

 

 

 

 

 

 

June 12

Cash  A/c

Dr.

 

1,500

 

 

 To Sales A/c

 

 

 

1,500

 

(Being goods  Sold to Nadeem for cash )

 

 

 

 

 

 

 

 

 

 

June 14

Sales return A/c

Dr.

 

500

 

 

  To Kailash A/c

 

 

 

500

 

(Being  Goods returned by Kailash)

 

 

 

 

 

 

 

 

 

 

June 16

Harish’s A/c

Dr.

 

360

 

 

  To Purchases Return A/c

 

 

 

360

 

(Being  Goods returned to Harish)

 

 

 

 

 

 

 

 

 

 

June 18

Machinery A/c

Dr.

 

8,000

 

 

  To Sohan’s A/c

 

 

 

8,000

 

(Being Machinery purchased from Sohan)

 

 

 

 

 

 

 

 

 

 

June 19

Harish’s A/c

Dr.

 

5,000

 

 

  To Cash a/c

 

 

 

5,000

 

(Being  Paid to Harish on Account)

 

 

 

 

 

 

 

 

 

 

June 25

Drawings A/c

Dr.

 

5,000

 

 

  To Cash  A/c

 

 

 

5,000

 

(Being  Cash withdrawn for Personal use)

 

 

 

 

 

 

 

 

 

 

June 30

News Paper  A/c

Dr.

 

200

 

 

  To Cash  A   /c

 

 

 

200

 

(Being  Old newspapers sold)

 

 

 

 

 

 

 

 

 

 

June 30

Bank  A/c        Dr.

  To Loan from Mohan  A/c   

 

 

50,000

 

50,000

 

(Being  Received loan from Mohan and deposited in bank)

 

 

 

 

 


Question 3:


Record the following transaction in the Journal of Amitabh:

2022

 

`

May 01

Amitabh started business with Cash

80,000

May 02

Purchased Furniture from Modern Furniture for Cash

10,000

May 05

Deposited in Bank

30,000

May 06

Purchased goods for cash

5,000

May 08

Purchased goods on credit from Hari

4,500

May 10

Purchased goods from Suresh for cash

3,000

May 12

Purchased goods from Ajay

4,000

May 14

Sold goods for cash

7,000

May 15

Sold goods to Karim

6,500

May 16

Sold goods to Ganesh for cash

5,000

May 18

Sold goods to Bansi

3,500

May 19

Withdrew from bank for office use

5,000

May 20

Karim paid on account

5,000

May 29

Paid rent for residence

6,000

May 30

Purchased a cycle for his son

3,000

May 30

Paid to Ajay in settlement of his account

3,800

 

Answer:


Journal

Date

Particulars

L.F.

Debit

`

Credit

`

2022

 

 

 

 

 

May 1

Cash A/c

Dr.

 

80,000

 

 

  To Capital A/c

 

 

 

80,000

 

( Being Amitabh invested capital in Cash)

 

 

 

 

 

 

 

 

 

 

May 2

Furniture  A/c

Dr.

 

10,000

 

 

To Cash A/c

 

 

 

10,000

 

(Being goods  Purchased from Harish)

 

 

 

 

 

 

 

 

 

 

May 5

Bank A/c

Dr.

 

30,000

 

 

To Cash A/c

 

 

 

30,000

 

( Being deposited in Bank)

 

 

 

 

 

 

 

 

 

 

May 6

Purchases A/c

Dr.

 

5,000

 

 

To Cash A/c

 

 

 

5,000

 

(Being goods  Purchased from Mohan for cash)

 

 

 

 

 

 

 

 

 

 

May 8

Purchases  A/c

Dr.

 

4,500

 

 

 To Hari’s A/c

 

 

 

4,500

 

(Being goods purchased form Hari on credit)

 

 

 

 

 

 

 

 

 

 

May 10

Purchases  A/c

Dr.

 

3,000

 

 

 To Cash’s A/c

 

 

 

3,000

 

(Being goods purchased for cash)

 

 

 

 

 

 

 

 

 

 

May 12

Purchases  A/c

Dr.

 

4,000

 

 

 To Ajay’s A/c

 

 

 

4,000

 

(Being  goods purchased on credit )

 

 

 

 

 

 

 

 

 

 

May 14

Cash  A/c

Dr.

 

7,0000

 

 

  To Sales A/c

 

 

 

7,000

 

(Being goods sold for cash )

 

 

 

 

 

 

 

 

 

 

May 15

Karim’s  A/c

Dr.

 

6,500

 

 

  To Sales A/c

 

 

 

6,500

 

(Being goods sold to karim on credit)

 

 

 

 

 

 

 

 

 

 

May 16

Cash  A/c

Dr.

 

5,000

 

 

  To Sales A/c

 

 

 

5,000

 

(Being goods sold for cash)

 

 

 

 

 

 

 

 

 

 

May 18

Bansi’s  A/c

Dr.

 

3,500

 

 

  To Sales A/c

 

 

 

3,500

 

(Being goods sold to Bansi on credit)

 

 

 

 

 

 

 

 

 

 

May 19

Cash  A/c

Dr.

 

5,000

 

 

  To Bank  A/c

 

 

 

5,000

 

(Being cash withdrawal from bank)

 

 

 

 

 

 

 

 

 

 

May 20

Cash  A/c        Dr.

  To Karim’s  A/c       

 

 

5,000

 

5,000

 

(Being cash received from karim)

 

 

 

 

May 29

Drawings A/c

Dr.

 

6,000

 

 

  To Cash A/c

 

 

 

6,000

 

(Being drawings were made)

 

 

 

 

May 30

Drawings A/c

Dr.

 

3,000

 

 

  To Cash A/c

 

 

 

3,000

 

(Being drawings were made)

 

 

 

 

May 30

Ajay’s  A/c

Dr.

 

3,800

 

 

Discount allowed A/c

Dr.

 

200

 

 

  To Cash A/c

 

 

 

4,000

 

(Being cash paid and discount allowed)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Compound Journal Entries

Question 4:


Pass necessary Journal entries for the following transactions:

2022

 

April 5

Paid salaries ` 30,000, rent ` 10,000 and wages ` 8,000 by cheque.

April 7

Purchased goods from Hari for ` 30,000 at 10% trade discount and 2% cash discount. Payment was made immediately.

April 15

Paid to Raju `5,000 in cash and ` 7,000 by cheque.

April 18

Goods sold to Roma for `5,000 at 20% Trade discount and 3% Cash discount. HaIf of the payment was received immediately

April 20

Goods sold to Ramesh for `8,000. He paid `5,000 by cheque immediately

April 25

Additional capital introduced as: cash `10,000; and Delivery Van (Personal asset) of `50,000.

April 26

Cash paid to Anil `975. Discount received `25.

April 30

Paid to Raju `1,000 in cash and `2,000 by cheque.

April 30

Paid `4,800 to Mohan In settlement of his account for `5 000.

                   

Answer:


Journal

Date

Particulars

L.F.

Debit

`

Credit

`

2022

 

 

 

 

 

Apr 05

Salary A/c

Dr.

 

30,000

 

 

Rent A/c

Wages A/c

 To Bank A/c

Dr.

Dr.

 

 10,000

8,000

 

 

48,000

 

(Being Paid salaries ` 30,000, rent ` 10,000 and wages ` 8,000 by cheque.)

 

 

 

 

 

 

 

 

 

 

 

Apr 07

Purchases A/c

Dr.

 

27,000

 

 

To Cash A/c

To Hari’s A/c

To Discount Received A/c

 

 

 

13,500

13,095

405

 

(Being Purchased goods from Hari for ` 30,000 at 10% trade discount and 2% cash discount. Payment was made immediately)

 

 

 

 

 

 

 

 

 

 

Apr 15

Raju’s A/c

Dr.

 

12,000

 

 

To Cash A/c

To Bank A/c

 

 

 

5,000

7,000

 

(Being paid to Raju `5,000 in cash and ` 7,000 by cheque.)

 

 

 

 

 

 

 

 

 

 

Apr 18

Roma’s A/c

Dr.

 

2,000

 

 

Cash’s A/c

Discount allowed a/c

 To Sales A/c

Dr.

Dr.

 

1,940

60

 

 

4,000

 

(Being Goods sold to Roma for `5,000 at 20% Trade discount and 3% Cash discount. Half of the payment was received immediately)

 

 

 

 

 

 

 

 

 

 

Apr 20

Rajesh’s A/c

Dr.

 

5,000

 

 

Chaque in hand  A/c

 To Sales A/c

Dr.

 

3,000

 

8,000

 

(Being Goods sold to Ramesh for `8,000. He paid `5,000 by cheque immediately)

 

 

 

 

 

 

 

 

 

 

Apr 25

Cash A/c

Delivery Van A/c

Dr.

Dr.

 

10,000

50,000

 

 

To Capital A/c

 

 

 

60,000

 

(Being Additional capital introduced as: cash `10,000; and Delivery Van (Personal asset) of `50,000.)

 

 

 

 

 

 

 

 

 

 

Apr 26

Anil’s A/c

Dr.

 

1,000

 

 

  To Cash A/c

  To Discount received A/c

 

 

 

975

25

 

(Being Cash paid to Anil `975. Discount received `25.)

 

 

 

 

 

 

 

 

 

 

Apr 30

Raju’s A/c

Dr.

 

3,000

 

 

To Cash A/c

To Bank A/c

 

 

 

1,000

2,000

 

(Being Paid to Raju `1,000 in cash and `2,000 by cheque.)

 

 

 

 

 

 

 

 

 

 

Apr 30

Mohan’s A/c

Dr.

 

5,000

 

 

  To Cash A/c

  To Discount received A/c

 

 

 

4,800

200

 

(Being Paid `4,800 to Mohan In settlement of his account for `5 000.)

 

 

 

 

 

 

 

 

 

 

 

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