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11th | Ledger | Question No. 5 | Ts Grewal Solution 2022-2023

Question 5:


Enter the following transactions in the Journal of  Karim Bros and post to the Ledger:

2022

 

`

April 1

 

Assets: Cash in Hand ` 20,000; Cash at Bank ` 35,000; Stock ` 15,000; Furniture ` 4,500;

   Debtors: Poonam ` 20,000; Sonu ` 10,000

Liabilities Creditors: Ashok ` 13,500; Pankaj ` 21,500

 

April 4

Purchased goods from Pankaj.

5,000

April 7

Paid to Ashok by cheque in full settlement of his account.

13,000

April 10

Sold goods to Poonam.

11,000

April 12

Purchased goods from Ashok.

15,000

April 15

Sold goods to Sonu.

6,000

April 18

Received cheque from Poonam on account

24,500

 

Allowed her discount

500

April 25

Paid for stationery

1,200

April 27

Paid telephone bill by cheque

3,500

April 30

Paid salaries

6,000


Answer:


Journal

Date

Particulars

L.F.

Debit

 (`)

Credit

 (`)

2022

 

 

 

 

 

Apr.01

Cash A/c

Dr.

 

20,000

 

 

Bank A/c

Dr.

 

35,000

 

 

Stock A/c

Dr.

 

15,000

 

 

Furniture A/c

Dr.

 

4,500

 

 

Poonam

Dr.

 

20,000

 

 

Sonu

Dr.

 

10,000

 

 

    To Ashok

 

 

 

13,500

 

    To Pankaj

 

 

 

21,500

 

    To Capital A/c

 

 

 

69,500

 

(Being Opening entry made)

 

 

 

 

 

 

 

 

 

 

Apr.04

Purchases A/c

Dr.

 

5,000

 

 

    To Pankaj

 

 

 

5,000

 

(Being Goods purchased from Pankaj on credit)

 

 

 

 

 

 

 

 

 

 

Apr.07

Ashok

Dr.

 

13,500

 

 

   To Bank A/c

 

 

 

13,000

 

   To Discount Received A/c

 

 

 

500

 

(Being Payment made to Ashok)

 

 

 

 

 

 

 

 

 

 

Apr.10

Poonam

Dr.

 

11,000

 

 

    To Sales A/c

 

 

 

11,000

 

(Being Goods sold to Poonam on credit)

 

 

 

 

 

 

 

 

 

 

Apr.12

Purchases A/c

Dr.

 

15,000

 

 

     To Ashok

 

 

 

15,000

 

(Being Goods purchased from Ashok on Credit)

 

 

 

 

 

 

 

 

 

 

Apr.15

Sonu

Dr.

 

6,000

 

 

    To Sales A/c

 

 

 

6,000

 

(Being Goods sold to Sonu on credit)

 

 

 

 

 

 

 

 

 

 

Apr.18

Bank A/c

Dr.

 

24,500

 

 

Discount Allowed A/c

Dr.

 

500

 

 

   To Poonam

 

 

 

25,000

 

(Being Payment received from Poonam)

 

 

 

 

 

 

 

 

 

 

Apr.25

Stationery A/c

Dr.

 

1,200

 

 

    To Cash A/c

 

 

 

1,200

 

(Being Stationery purchased in cash)

 

 

 

 

 

 

 

 

 

 

Apr.27

Telephone Bill A/c

Dr.

 

3,500

 

 

   To Bank A/c

 

 

 

3,500

 

(Being Rent paid by cheque)

 

 

 

 

 

 

 

 

 

 

Apr.30

Salaries A/c

Dr.

 

6,000

 

 

    To Cash A/c

 

 

 

6,000

 

(Being Salaries paid )

 

 

 

 

 

 

 

 

 

 

                                                                                        Ledger

Cash Account

Dr.

 

Cr.

Date

Particulars

J.F.

 (`)

Date

Particulars

J.F.

 (`)

2022

 

 

 

2022

 

 

 

Apr.01

Balance b/d

 

20,000

Apr.25

Stationery A/c

 

1,200

 

 

 

 

Apr.30

Salaries A/c

 

6,000

 

 

 

 

Apr.30

Balance c/d

 

12,800

 

 

 

 

 

 

 

 

 

 

 

20,000

 

 

 

20,000

May.01

Balance b/d

 

12,800

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bank Account

Dr.

 

Cr.

Date

Particulars

J.F.

 (`)

Date

Particulars

J.F.

 (`)

2022

 

 

 

2022

 

 

 

Apr.01

Balance b/d

 

35,000

Apr.07

Ashok

 

13,000

Apr.18

Poonam

 

24,500

Apr.27

Telephone Bill A/c

 

3,500

 

 

 

 

Apr.30

Balance c/d

 

43,000

 

 

 

 

 

 

 

 

 

 

 

59,500

 

 

 

59,500

May.01

Balance b/d

 

43,000

 

 

 

 

 

Stock Account

Dr.

 

Cr.

Date

Particulars

J.F.

 (`)

Date

Particulars

J.F.

 (`)

2022

 

 

 

2022

 

 

 

Apr.01

Balance b/d

 

15,000

Apr.30

Balance c/d

 

15,000

 

 

 

 

 

 

 

 

 

 

 

15,000

 

 

 

15,000

May.01

Balance b/d

 

15,000

 

 

 

 

 

Furniture Account

Dr.

 

Cr.

Date

Particulars

J.F.

 (`)

Date

Particulars

J.F.

 (`)

2022

 

 

 

2022

 

 

 

Apr.01

Balance b/d

 

4,500

Apr.30

Balance c/d

 

4,500

 

 

 

 

 

 

 

 

 

 

 

4,500

 

 

 

4,500

May.01

Balance b/d

 

4,500

 

 

 

 

 

Poonam  

Dr.

 

Cr.

Date

Particulars

J.F.

 (`)

Date

Particulars

J.F.

 (`)

2022

 

 

 

2022

 

 

 

Apr.01

Balance b/d

 

20,000

Apr.18

Bank A/c

 

24,500

Apr.10

Sales A/c

 

11,000

Apr.18

Discount Allowed

 

500

 

 

 

 

Apr.30

Balance c/d

 

6,000

 

 

 

 

 

 

 

 

 

 

 

31,000

 

 

 

31,000

May.01

Balance b/d

 

6,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sonu

Dr.

 

Cr.

Date

Particulars

J.F.

 (`)

Date

Particulars

J.F.

 (`)

2022

 

 

 

2022

 

 

 

Apr.01

Balance b/d

 

10,000

Apr.30

Balance c/d

 

16,000

Apr.15

Sales A/c

 

6,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

16,000

 

 

 

16,000

May.01

Balance b/d

 

16,000

 

 

 

 

 

Ashok

Dr.

 

Cr.

Date

Particulars

J.F.

 (`)

Date

Particulars

J.F.

 (`)

2022

 

 

 

2022

 

 

 

Apr.07

Bank A/c

 

13,000

Apr.01

Balance b/d

 

13,500

Apr.07

Discount Received 

 

500

Apr.12

Purchases a/c

 

15,000

Apr.30

Balance c/d

 

15,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

28,500

 

 

 

28,500

 

 

 

 

May.01

Balance b/d

 

15,000

 

Pankaj

Dr.

 

Cr.

Date

Particulars

J.F.

 (`)

Date

Particulars

J.F.

 (`)

2022

 

 

 

2022

 

 

 

Apr.30

Balance c/d

 

26,500

Apr.01

Balance b/d

 

21,500

 

 

 

 

Apr.04

Purchases a/c

 

5,000

 

 

 

 

 

 

 

 

 

 

 

26,500

 

 

 

26,500

 

 

 

 

May.01

Balance b/d

 

26,500

 

 

 

 

 

 

 

 

 

 

 

Capital Account

Dr.

 

Cr.

Date

Particulars

J.F.

 (`)

Date

Particulars

J.F.

 (`)

2022

 

 

 

2022

 

 

 

Apr.30

Balance c/d

 

69,500

Apr.01

Balance b/d

 

69,500

 

 

 

 

 

 

 

 

 

 

 

69,500

 

 

 

69,500

 

 

 

 

May.01

Balance b/d

 

69,500

 

Purchases Account

Dr.

 

Cr.

Date

Particulars

J.F.

 (`)

Date

Particulars

J.F.

 (`)

2022

 

 

 

2022

 

 

 

Apr.04

Pankaj

 

5,000

Apr.30

Balance c/d

 

20,000

Apr.12

Ashok

 

15,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

20,000

 

 

 

20,000

May.01

Balance b/d

 

20,000

 

 

 

 

 

Discount Received Account

Dr.

 

Cr.

Date

Particulars

J.F.

 (`)

Date

Particulars

J.F.

 (`)

2022

 

 

 

2022

 

 

 

Apr.30

Balance c/d

 

500

Apr.07

Ashok

 

500

 

 

 

 

 

 

 

 

 

 

 

500

 

 

 

500

 

 

 

 

May.01

Balance b/d

 

500

 

Sales Account

Dr.

 

Cr.

Date

Particulars

J.F.

 (`)

Date

Particulars

J.F.

 (`)

2022

 

 

 

2022

 

 

 

Apr.30

Balance c/d

 

17,000

Apr.10

Poonam

 

11,000

 

 

 

 

Apr.15

Sonu

 

6,000

 

 

 

 

 

 

 

 

 

 

 

17,000

 

 

 

17,000

 

 

 

 

May.01

Balance b/d

 

17,000

 

Stationery Account

Dr.

 

Cr.

Date

Particulars

J.F.

 (`)

Date

Particulars

J.F.

 (`)

2022

 

 

 

2022

 

 

 

Apr.25

Cash A/c

 

1,200

Apr.30

Balance c/d

 

1,200

 

 

 

 

 

 

 

 

 

 

 

1,200

 

 

 

1,200

May.01

Balance b/d

 

1,200

 

 

 

 

 

Telephone Bill Account

Dr.

 

Cr.

Date

Particulars

J.F.

 (`)

Date

Particulars

J.F.

 (`)

2022

 

 

 

2022

 

 

 

Apr.27

Bank A/c

 

3,500

Apr.30

Balance c/d

 

3,500

 

 

 

 

 

 

 

 

 

 

 

3,500

 

 

 

3,500

May.01

Balance b/d

 

3,500

 

 

 

 

 

Salaries Account

Dr.

 

Cr.

Date

Particulars

J.F.

 (`)

Date

Particulars

J.F.

 (`)

2022

 

 

 

2022

 

 

 

Apr.30

Cash A/c

 

6,000

Apr.30

Balance c/d

 

6,000

 

 

 

 

 

 

 

 

 

 

 

6,000

 

 

 

6,000

May.01

Balance b/d

 

6,000

 

 

 

 

 

Discount allowed Account

Dr.

 

Cr.

Date

Particulars

J.F.

 (`)

Date

Particulars

J.F.

 (`)

2022

 

 

 

2022

 

 

 

Apr.18

Poonam

 

500

Apr.30

Balance c/d

 

500

 

 

 

 

 

 

 

 

 

 

 

500

 

 

 

500

May.01

Balance b/d

 

500

 

 

 

 

 

 

Trial Balance

as on April,30,2022

 

 

S. No.

Particulars

`

`

 

 

 

 

 

 

 

 

1.

Cash A/c

12,800

 

 

 

2.

Bank A/c

43,000

 

 

 

3.

Stock A/c

15,000

 

 

 

4

Furniture A/c

4,500

 

 

 

5.

Poonam

6,000

 

 

 

6.

Sonu

16,000

 

 

 

7.

Ashok

 

15,000

 

 

8.

Pankaj

 

26,500

 

 

9.

Capital A/c

 

83,500

 

 

10.

Purchases A/c

20,000

 

 

 

11.

Discount Received A/c

 

500

 

 

12.

Sales A/c

 

17,000

 

 

13.

Stationery A/c

1,200

 

 

 

14.

Telephone Bill A/c

3,500

 

 

 

15.

Salaries A/c

6,000

 

 

 

16.

Discount Allowed A/c

500

 

 

 

 

 

1,28,500

1,28,500

 

 

 

 

 

 

 

 

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