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11th | Ledger | Question No. 3 | Ts Grewal Solution 2022-2023

Question 3:


Journalise the following transactions in the Journal of Rakesh, Delhi and post them to the Ledger:

2022

 

`

March 1

 Started business with cash

2,00,000

March 2

 Opened bank account with SBI

80,000

March 4

 Goods purchased from Raj, Jaipur (Rajasthan)

22,000

March 5

 Goods purchased for cash

30,000

March 8

 Goods sold to Naman, Delhi

12,000

March 10

 Cash paid to Raj

22,000

March 15

 Cash received from Naman

11,700

 

 Discount allowed

300

March 16

 Paid wages

200

March 18

 Furniture purchased for office use

5,000

March 20

 Withdrawn from bank for personal use

4,000

March 23

 Goods taken for household purpose. These goods were purchased from Raj

2,000

March 24

 Drawn cash from bank for office use

6,000

March 26

 Commission received

1,000

March 27

 Bank charges

300

March 28

 Cheque issued for life insurance premium of Proprietor

3,000

March 29

 Paid salary

10,000

March 30

 Cash sales

20,000

Answer:


Books of M/s Gupta Brothers

Journal

Date

Particulars

L.F.

Debit

(`)

Credit

 (`)

2022

 

 

 

 

Mar.01

Cash A/c

Dr.

 

2,00,000

 

 

To Capital A/c

 

 

2,00,000

 

( Being Started business with Cash)

 

 

 

 

 

 

 

 

Mar.02

Bank A/c

Dr.

 

80,000

 

 

To Cash A/c

 

 

80,000

 

(Being Opened Bank account with SBI)

 

 

 

 

 

 

 

 

Mar.04

Purchases A/c
  To Raj A/c

Dr.
 

 

24,000
 


24,000

 

(Being Purchased goods on credit)

 

 

 

 

 

 

 

 

Mar.05

Purchases A/c
  To Cash A/c
(Being Purchased goods in cash)

Dr.
 

 

30,000
 


30,000

 

 

 

 

 

Mar.08

Naman A/c

Dr.

 

12,000

 

 

To Sales A/c
(Being Sold good to on credit)

 

 

12,000

 

 

 

 

 

Mar.10

Raj

Dr.

 

22,000

 

 

To Cash A/c

 

 

22,000

 

(Being Cash Paid to Raj)

 

 

 

 

 

 

 

 

Mar.15

Cash A/c

Dr.

 

11,700

 

 

Discount Allowed A/c

Dr.

 

300

 

 

To Naman

 

 

12,000

 

(Being Cash received from Naman and discount allowed)

 

 

 

 

 

 

 

 

Mar.16

Wages A/c

Dr.

 

200

 

 

To Cash

 

 

200

 

(Being Paid Wages)

 

 

 

 

 

 

 

 

Mar.18

Furniture A/c
  To Cash
(Being Purchased furniture in cash)

Dr.
 

 

5,000
 


5,000

 

 

 

 

 

Mar.20

Drawings A/c

Dr.

 

4,000

 

 

To Bank A/c

 

 

4,000

 

(Being Withdrawn from bank for personal use)

 

 

 

 

 

 

 

 

Mar.23

Drawings A/c

Dr.

 

2,000

 

 

To Purchases A/c
(Being Goods taken for personal use)

 

 

2,000
 

 

 

 

 

 

Mar.24

Cash A/c

Dr.

 

6,000

 

 

To Bank

 

 

6,000

 

(Being Cash withdrawn from bank)

 

 

 

 

 

 

 

 

Mar.26

Cash A/c

  To Commission A/c

Dr.

 

1,000


1,000

 

(Being Cash received for commission)

 

 

 

 

 

 

 

 

Mar.27

Bank Charges A/c
  To Bank A/c
(Being Bank Charges debited)

Dr.

 

300
 


300

 

 

 

 

 

Mar.28

Drawings A/c

Dr.

 

3,000

 

 

To Bank

 

 

3,000

 

(Being Amount withdrawn to pay Insurance Premium of proprietor)

 

 

 

 

 

 

 

 

Mar.29

 Salary A/c

Dr.

 

10,000

 

 

To Cash A/c

 

 

10,000

 

(Being Paid Salary)

 

 

 

 

 

 

 

 

Mar.30

Cash A/c

Dr.

 

20,000

 

 

To Sales A/c
(Being Sold goods for Cash)

 

 

20,000

 

 

 

 

 

 

 

Ledger

Cash Account

Dr.

 

Cr.

Date

Particulars

J.F.

 (`)

Date

Particulars

J.F.

 (`)

2022

 

 

 

2022

 

 

 

Mar.01

Capital

 

2,00,000

Mar.02

Bank

 

80,000

Mar.15
Mar.24
Mar.26
Mar.30

Naman
Bank
Commission

Sales

 

11,700
6,000
1,000
20,000

Mar.05
Mar.10
Mar.16
Mar.18
Mar.29
Mar.31

Purchases
Raj

Wages
Furniture
Salary
Balance c/d

 

30,000
22,000
200
5,000
10,000
91,500

 

 

 

 

 

 

 

 

 

 

 

2,38,700

 

 

 

2,38,700

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bank Account

Dr.

 

Cr.

Date

Particulars

J.F.

 (`)

Date

Particulars

J.F.

 (`)

2022

 

 

 

2022

 

 

 

Mar.02

Cash

 

80,000

Mar.20

Drawings

 

4,000

 

 

 

 

Mar.24

Cash

 

6,000

 

 

 

 

Mar.27
Mar.28

Bank Charges
Drawings

 

300
3,000

 

 

 

 

Mar.31

Balance C/d

 

65,700

 

 

 

80,000

 

 

 

80,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital Account

 

Dr.

 

Cr.

Date

Particulars

J.F.

 (`)

Date

Particulars

J.F.

 (`)

 

2022

 

 

 

2022

 

 

 

 

Mar.31

Balance c/d

 

2,00,000

Mar.01

Cash

 

2,00,000

 

 

 

 

2,00,000

 

 

 

2,00,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Purchases Account

Dr.

 

Cr.

Date

Particulars

L.F.

 (`)

Date

Particulars

L.F.

 (`)

2022

 

 

 

2022

 

 

 

Mar.04

Raj

 

22,000

Mar.23

Drawings

 

2,000

Mar.05

Cash

 

30,000

Mar.31

Balance c/d

 

50,000

 

 

 

52,000

 

 

 

52,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Raj Account

 

Dr.

 

Cr.

Date

Particulars

L.F.

 (`)

Date

Particulars

L.F.

 (`)

2022

 

 

 

2022

 

 

 

Mar.10
 

Cash
 

 

22,000
 

Mar.04
 

Purchase
 

 

22,000
 

 

 

 

22,000

 

 

 

22,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales Account

 

Dr.

 

Cr.

Date

Particulars

L.F.

 (`)

Date

Particulars

L.F.

 (`)

2022

 

 

 

2022

 

 

 

 

 

 

 

Mar.08

Naman

 

12,000

Mar.31

Balance c/d

 

32,000

Mar.30

Cash

 

20,000

 

 

 

32,000

 

 

 

32,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Naman

Dr.

 

Cr.

Date

Particulars

L.F.

 (`)

Date

Particulars

L.F.

 (`)

2022

 

 

 

2022

 

 

 

Mar.08
 

Sales
 

 

12,000

 

Mar.15
Mar.15

Cash
Discount Allowed

 

11,700

300


 

 

 

 

 

 

 

 

 

 

 

12,000

 

 

 

12,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Discount Allowed Account

 

Dr.

 

Cr.

Date

Particulars

L.F.

 (`)

Date

Particulars

L.F.

 (`)

 

2022

 

 

 

2022

 

 

 

 

Mar.15

Naman

 

300

Mar.31

Balance c/d

 

300

 

 

 

 

300

 

 

 

300

 

 

 

 

 

 

 

 

 

 

 

Wages Account

Dr.

 

Cr.

Date

Particulars

L.F.

 (`)

Date

Particulars

L.F.

 (`)

2022

 

 

           

2022

 

 

 

Mar.16

Cash

 

200

Mar.31

Balance c/d

 

200

 

 

 

200

 

 

 

200

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Furniture Account

Dr.

 

Cr.

Date

Particulars

L.F.

 (`)

Date

Particulars

L.F.

 (`)

 

2022

 

 

 

2022

 

 

 

 

Mar.18

Cash

 

5,000

Mar.31

Balance c/d

 

5,000

 

 

 

 

5,000

 

 

 

5,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Drawings Account

Dr.

 

Cr.

Date

Particulars

L.F.

 (`)

Date

Particulars

L.F.

 (`)

 

2022

 

 

 

2022

 

 

 

 

Mar.20

Bank

 

4,000

 

 

 

 

 

Mar.23
Mar.28
 

Purchases A/c
Bank
 

 

2,000
3,000
 

Mar.31

Balance c/d

 

9,000

 

 

 

 

9,000

 

 

 

9,000

 

 

 

 

 

 

 

 

 

 

 

 

Commission Account

Dr.

 

Cr.

Date

Particulars

L.F.

 (`)

Date

Particulars

L.F.

 (`)

2022

 

 

           

2022

 

 

 

Mar.31

Balance c/d

 

1,000

Mar.26

Cash

 

1,000

 

 

 

1,000

 

 

 

1,000

 

 

 

 

 

 

 

 

 

 

Bank Charges Account

Dr.

 

Cr.

Date

Particulars

L.F.

 (`)

Date

Particulars

L.F.

 (`)

2022

 

 

 

2022

 

 

 

Mar.22

Bank A/c

 

300

Mar.31

Balance c/d

 

300

 

 

 

300

 

 

 

300

 

 

 

 

 

 

 

 

 

Salary Account

Dr.

 

Cr.

Date

Particulars

L.F.

 (`)

Date

Particulars

L.F.

 (`)

2022

 

 

 

2022

 

 

 

Mar.29

Cash

 

10,000

Mar.31

Balance c/d

 

10,000

 

 

 

10,000

 

 

 

10,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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