11th | Journal | Question No. 5 To 8 | Ts Grewal Solution 2022-2023

Journal

Date

Particulars

L.F.

Debit

`

Credit

`

2022

Apr 01

Cash  A/c

Bad debts A/c

 To Mohan’s A/c

Dr.

Dr.

5,.000

5,000 

(Being Mohan is declared insolvent. Received first and final dividend from his official Receiver 50 paise in a rupee against a debt of ` 5,000)

Apr 02

Bad debts A/c

 To Mohan’s A/c

Dr.

8,000

8,000

(Being78,000 due from Ramesh is not recoverable)

Apr 03

Cash  A/c

Bad debts A/c

 To Shyam’s A/c

Dr.

Dr.

7,500

7,500

15,000 

(Being Shyam, who owed 15,000 became insolvent and 50% is received from his estate)

Apr 04

Cash A/c

Dr.

10,000

  To Bad debts recovered A/c

10,000

(Being Received 10,000 in cash from Sohan for bad debts written off last year)

Journal

Date

Particulars

L.F.

Debit

`

Credit

`

2022

Bank A/c  

Dr. 

30,000 

Apr 01

 To Cash A/c

(Being Cash Deposited in bank)

30,000

Apr 03

Cash A/c

Dr.

10,000

 To Bank A/c

10,000

(Being Cash withdrawn from bank)

Apr 07

Wages A/c

Dr.

7,000

 To Bank A/c

7,000

(Being Wages paid by cheque.)

Apr 10

Bank A/c

Dr.

8,500

Discount Allowed A/c

 To Deewan’s A/c

Dr.

500

9,000

(Being Cheque received from Deewan 78,500 and discount allowed to him 500. Cheque is deposited in bank on the same day.)

Apr 12

Telephone Expenses A/c

Dr.

1,000

 To Bank A/c

(Being Telephone bill paid by bank, As per standing instructions)

1,000

Apr 14

Deewan’s A/c

Dr.

8,500

 To Bank A/c

8,500

(Being Deewan's cheque returned by the bank as dishonored)

Apr 16

Bank charges A/c

Dr.

400

 To Bank A/c

400

(Being Charges debited by bank)

Apr 17

Bank A/c

Dr.

8,000

 To Sales A/c

8,000

(Being Goods sold and sale proceeds deposited in bank)

Apr 19

Insurance premium A/c

Dr.

1,800

 To Bank A/c

1,800

(Being Bank has paid insurance premium as per our standing instructions)

Apr 25

Bank A/c

Dr.

2,500

 To Dividend A/c

2,500

(Being Dividend collected by Bank.)

Journal

Date

Particulars

L.F.

Debit

`

Credit

`

2022

Bank A/c  

Dr. 

10,000 

Apr 01

 To Cash A/c

(Being Deposited in bank for opening a Current Account.)

10,000

Apr 02

Cash A/c

Dr.

5,000

 To Bank A/c

5,000

(Being Withdrawn from bank.)

Apr 05

Cheque in hand A/c

Dr.

11,880

Discount Allowed A/c

120

 To Ramesh’s A/c

12,000

(Being Received a cheque from Ramesh to whom goods were sold for ` 12,000 last year Allowed him 1% discount on payment.)

Apr 07

Bank A/c

Dr.

11,880

To Chaque in hand A/c

11,880

(Being Ramesh's cheque deposited in bank.)

Apr 09

Ramesh’s  A/c

Dr.

12,000

Bank charges A/c

Dr.

20

To Bank A/c

11,900

To Discount Allowed A/c

120

 (Being Ramesh's cheque dishonored (bank charges 20).)

Apr 20

Cheque in hand A/c

Dr.

12,080

 To Ramesh’s  A/c

 To Interest received A/c

12,020

60

(Being Ramesh settled his account by issuing cheque including `60 for interest.)

Apr 21

Bank A/c

Dr.

8,000

 To Raja’s A/c

8,000

(Being Cash directly deposited by Raja (Customer) in bank account.)

Apr 23

M/s Lal & Sons’s A/c

Dr.

5,000

Bank Charges A/c

Dr.

700

 To Bank A/c

5,700

(Being Bank draft got issued in favour of M/s Lal &Sons `5,000. Bank charges `700.)

Apr 28

Bank A/c

Dr.

3,800

Discounting charges A/c

Dr.

200

 To Bills receivable A/c

4,000

(Being A bill of exchange of ` 4,000 (due after one month) discounted from bank for `3,800.)

Apr 30

Cheque in hand  A/c

Dr.

1,000

 To Shyam’s  A/c

1,000

(Being Received a cheque of `1,000 from Shyam after banking hours.)

Apr 30

Bank A/c

Dr.

3,500

Cash A/c

Dr.

3,500

 To Sales A/c

7,000

(Being Goods sold for cash 7,000 and half of the sale proceeds deposited in bank.)

Journal

Date

Particulars

L.F.

Debit

`

Credit

`

2022

Drawings A/c  

Dr. 

1,000

Apr 01

 To Purchases A/c

(Being Goods withdrawn by owner of 1,000 for personal use.)

1,000

Apr 02

Sample  A/c

Dr.

500

 To Purchases A/c

500

(Being Goods distributed as sample.)

Apr 03

Charity A/c

Dr.

300

 To Purchases A/c

300

(Being Goods Given as Charity.)

Apr 04

Furniture A/c

Dr.

5,000

To Purchases A/c

5,000

(Being Timber used for making office furniture)

Apr 05

Loss by fire  A/c

Dr.

3,500

To Purchases A/c

3,500

 (Being Goods destroyed by fire.)

Apr 06

Loss by fire  A/c

Dr.

2,000

 To Purchases A/c

2,000

(Being Goods lost in transit.)