11thtsgrewalsoution24-25

Question 21:

Enter the following transactions in the Journal of Suresh, Delhi who trades in ready-made garments:

2024		`
April 1	Suresh paid into bank as Capital	60,000
April 2	He bought goods and paid by cheque	24,000
April 3	Sold goods to Mukand & Co., Delhi	6,700
April 4	Sold goods for cash	10,900
April 5	Paid sundry expenses in cash	3,000
April 8	Paid for office furniture and fittings by cheque	4,000
April 9	Bought goods from Ramesh & Bros., Faridabad (Haryana)	10,600
April 11	Returned goods to Ramesh & Bros.	1,500
April 12	Issued cheque to Ramesh & Bros. in full settlement	8,500
April 12	Goods costing 5,000 destroyed by fire.
April 20	Insurance Company paid claim.	4,000
April 30	Bank charged interest.	200
April 30	Borrowed from Ridhi @ 10% per annum interest.	50,000
April 30	Received from Mukand & Co. on account.	3,000
April 30	Sold household furniture and paid the amount into business.	10,000
April 30	Sold goods costing ` 5,000 to Anita for cash at a profit of 20% on cost, less 20% trade discount
April 30	Sold goods costing ` 20,000 to Sunil at a profit of 20% on sale less 20% Trade Discount and paid cartage `150 (to be charged from customer).

Answer:

Books of Suresh Journal
Date	Particulars		L.F.	Debit `	Credit `
2019
April 01	Bank A/c	Dr.		60,000
	To Capital A/c				60,000
	(Paid into Bank as Capital)

April 02	Purchases A/c	Dr.		24,000
	To Bank A/c				24,000
	(Bought goods for cheque)

April 03	Mukand & Co.	Dr.		6,700
	To Sales A/c				6,700
	(Sold Goods to Mukand & Co.)

April 04	Cash A/c	Dr.		10,900
	To Sales A/c				10,900
	(Sold goods for Cash)

April 05	Sundry Expenses A/c	Dr.		3,000
	To Cash A/c				3,000
	(Paid Sundry Expenses)

April 08	Furniture A/c	Dr.		4,000
	To Bank A/c				4,000
	(Bought Office furniture by cheque)

April 09	Purchases A/c	Dr.		10,600
	To Ramesh and Bros.				10,600
	(Bought goods from Ramesh and Bros)

April 11	Ramesh and Bros.	Dr.		1,500
	To purchases return A/c				1,500
	(Good returned to Ramesh and Bros.)

April 12	Ramesh Bros. A/c	Dr.		9,100
	To Bank A/c				8,500
	To Discount Received A/c				600
	(Cheque sent to Ramesh and Bros. and discount received)
April 12	Loss by fire A/c Dr.			5,000
	To purchases A/c				5,000
	(Goods costing 5,000 destroyed by fire.)

April 30	Interest A/c	Dr.		200
	To Bank A/c				200
	(Bank charged Interest)

April 30	Cash A/c	Dr.		50,000
	To Loan from Ridhi A/c				50,000
	(Borrowed from Ridhi @10% per annum)

April 30	Cash A/c	Dr.		3,000
	To Mukand& Co.				3,000
	(Received from Mukand & Co. on account)

April 30	Cash A/c	Dr.		10,000
	To Capital A/c				10,000
	(Sold household furniture and paid the amount into business)

April 30	Anit A/c	Dr.		4,800
	To Sales A/c				4,800
	(Sold goods costing `5,000 to Anita for cash at a profit of 20% on cost, less 20% trade discount)

April 30	Sunil	Dr.		19,350
	To Sales A/c				19,200
	To Cartage A/c				150
	(Sold goods costing `20,000 to Sunil at a profit of 20% on sale less 20% Trade Discount and paid cartage `150)

Question 22:

Journalise the following transactions in the books of M/s. R.K. & Co.:
(i) Purchased goods of list price of ` 20,000 from Vishal at 20% trade discount against cheque payment.
(ii) Purchased goods of list price of ` 20,000 from Naman at 15% trade discount against cash.
(iii) Purchased goods of list price of ` 30,000 from Amrit at 20% trade discount.
(iv) Purchased goods from Hari & Co. of list price `40,000 for `35,000 against cash.

(v) Goods purchased from Amrit of list price ` 10,000returned.
(vi) Sold goods to Parul of list price of ` 40,000 at 10% trade discount against cheque payment.
(vii) Sold goods to Aman of list price of ` 30,000 at 10% trade discount against cash.
(viii) Sold goods to Pawan of list price of ` 20,000 at 10% trade discount.
(ix) Sold goods to Yamini of list price of ` 25,000 for ` 23,000.
(x) Sold goods costing ` 10,000 at cost plus 20% less 10% trade discount to Bhupesh.
(xi) Sold goods purchased at list price of ` 50,000 sold at a profit of 25% less 10% trade discount against cheque.
(xii) Aman returned goods of list price of ` 10,000 sold to him at 10% trade discount.

Answer:

Journal
Date	Particulars		L.F.	Debit `	Credit `

(i)	Purchase A/c	Dr.		16,000
	To Bank A/c				16,000
	(Goods purchased from Vishal by cheque)

(ii)	Purchase A/c	Dr.		17,000
	To Cash A/c				17,000
	(Goods purchased from Naman for cash)

(iii)	Purchase A/c	Dr.		24,000
	To Amrit				24,000
	(Goods purchased from Amrik on credit)

(iv)	Purchase A/c	Dr.		35,000
	To Cash A/c				35,000
	(Goods purchased for cash)

(v)	Amrit	Dr.		8,000
	To Purchase Returns A/c				8,000
	(Goods returned by Amrik)

(vi)	Bank A/c	Dr.		36,000
	To Sales A/c				36,000
	(Goods sold to Parul by cheque)

(vii)	Cash A/c	Dr.		27,000
	To Sales A/c				27,000
	(Goods sold to Aman for cash)

(viii)	Pawan	Dr.		18,000
	To Sales A/c				18,000
	(Goods sold to Pawan on credit)

(ix)	Yamini	Dr.		23,000
	To Sales A/c				23,000
	(Goods sold to Yamini on credit)

(x)	Bhupesh	Dr.		10,800
	To Sales A/c				10,800
	(Goods sold to Bhupesh on credit)

(xi)	Bank A/c	Dr.		45,000
	To Sales A/c				45,000
	(Goods sold against cheque)

(xii)	Sales Returns A/c	Dr.		9,000
	To Aman				9,000
	(Goods returned by Aman )

Working Notes:

WN1: Calculation of Sales price

Sales Price = (10,000+20%=12,000−10%)=Rs 10,800

Question 23:

Journalise the following transactions in the books of Bhushan Agencies:
(i) Received from Bharat cash ` 20,000, allowed him discount of ` 500.
(ii) Received from Vikas ` 35,000 by cheque, allowed him discount of ` 750.
(iii) Received cash from Akhil ` 38,000 in settlement of his dues of ` 40,000.
(iv) Received from Amrit ` 50,000 by cheque on account against dues of ` 60,000.
(v) Paid cash ` 39,200 to suresh in settlement of his dues, availed discount of 2%.
(vi) Paid by cheque ` 25,000 to Mehar and settled her dues of ` 26,000.
(vii) Paid ` 25,000 to Yogesh by cheque on account.
(viii) Purchased goods costing ` 1,00,000 against cheque and availed discount of 3%.
(ix) Purchased goods costing ` 60,000 from Akash & Co., paid 50% immediately availing 3% discount.
(x) Sold goods of ` 30,000 against cheque allowing 2% discount.
(xi) Sold goods of ` 60,000 to Vimal received 50% of due amount allowing 2% discount.

(xii) Mittal Bros. purchased 100 shawls @`3,000 per shawl. Allowed 10% Trade Discount

and 3% Cash Discount if payment is made within 14 days. Mittal Bros. received

10 shawls of poor quality, which it returned. Mittal Bros. settled the payment in 10 days.

(xiii) Sold to Gupta Shawls, 100 shawls@`200 per shawl on 4th January, 2024. Trade

Discount 25% and Cash Discount 5% if full payment is made within 14 days. Gupta

Shawls sent 50% of the payment on 14th January, 2024 and balance payment on

10th February, 2024.

Answer:

Journal
Date	Particulars		L.F.	Debit `	Credit `

(i)	Cash A/c	Dr.		20,000
	Discount Allowed A/c	Dr.		500
	To Bharat				20,500
	(Payment received from Bharat)

(ii)	Bank A/c	Dr.		35,000
	Discount Allowed A/c	Dr.		750
	To Vikas				35,750
	(Payment received from Vikas)

(iii)	Cash A/c	Dr.		38,000
	Discount Allowed A/c	Dr.		2,000
	To Akhil				40,000
	(Payment received from Akhil)

(iv)	Bank A/c	Dr.		50,000
	To Amrit				50,000
	(Payment received from Amrit)

(v)	Suresh	Dr.		40,000
	To Cash A/c				39,200
	To Discount Received A/c				800
	(Payment made to Suresh)

(vi)	Mehar	Dr.		26,000
	To Bank A/c				25,000
	To Discount Received A/c				1,000
	(Payment made to Meher)

(vii)	Yogesh	Dr.		25,000
	To Bank A/c				25,000
	(Payment made to Yogesh)

(viii)	Purchases A/c	Dr.		97,000
	To Bank A/c				97,000
	(Goods bought against cheque)

(ix)	Purchases A/c	Dr.		60,000
	To Akash & Co.				30,000
	To Cash A/c				29,100
	To Discount Received A/c				900
	(Goods bought from Akash & Co.)

(x)	Bank A/c	Dr.		29,400
	To Sales A/c				29,400
	(Goods sold against cheque)

(xi)	Vimal	Dr.		30,000
	Cash A/c	Dr.		29,400
	Discount Allowed A/c	Dr.		600
	To Sales A/c				60,000
	(Goods sold to Vimal)
(xii) a.	Purchases A/c Dr.			27,000
	To Mittal Bros. A/c				27,000
	(Mittal Bros. purchased 100 shawls @`3,000 per shawl. Allowed 10% Trade Discount)
b.	Mittal Bros. A/c	Dr.		2,700
	To Purchases Return A/c				2,700
	(10 shawls of poor quality, which it returned.)
c.	Mittal Bro. A/c	Dr.		24,300
	To Cash A/c				23,814
	To Discount Received A/c				486
	(Mittal Bros. settled the payment in 10 days. and allowed 2% discount)
(xiii)
4 Jan.	Gupta shawls	Dr.		15,000
	To Sales A/c				15,000
	(Sold to Gupta Shawls, 100 shawls@`200 per shawl on 4th January, 2024. Trade Discount 25%)
14 Jan.	Cash A/c	Dr.		7,125
	Discount allowed A/c	Dr.		375
	To Gupta shawls				7,500
	(50% payment received and availed 5% cash discount)
10 Feb.	Cash A/c	Dr.		7,500
	To Gupta shawls				7,500
	(Balance received)

Question 24:

Journalise the following transactions:

		`
(i)	Shyam became insolvent. A first and final compensation of 75 paise in a rupee was received from his Official Receiver. He owed us	10,000
(ii)	Received cash from Ramesh whose amount was written off last year as bad debts.	5,000
(iii)	Rent due to landlord.	8,000
(iv)	Salaries due to Staff.	10,000
(v)	Placed an order with Rakesh Mohan for the supply of goods of the list price of ` 1,00,000. In this connection, Raman paid 10% of the list price as an advance by cheque.
(vi)	Supplied goods costing 3,600 to Sanjay. Issued invoice at 20% above Cost less10% Trade Discount.
(vii)	Paid cash to Radhey for outstanding bill for printing.

Answer:

Journal
Sr. No.	Particulars		L.F.	Debit `	Credit `

(i)	Cash A/c	Dr.		7,500
	Bad Debts A/c	Dr.		2,500
	To Shyam’s A/c				10,000
	(Insolvency of Shyam with 75 paisa in a rupee recoverable)

(ii)	Cash A/c	Dr.		5,000
	To Bad Debts Recovered A/c				5,000
	(Amount written off as bad debts recovered)

(iii)	Rent A/c	Dr.		8,000
	To Outstanding Rent A/c				8,000
	(Rent due to landlord)

(iv)	Salary A/c	Dr.		10,000
	To Outstanding Salary A/c				10,000
	(Salary due to clerk)

(v)	Advance to Rakesh Mohan A/c	Dr.		10,000
	To Bank A/c				10,000
	(Advance paid to Rakesh Mohan for a future order)
(vi)	Sanjay Dr.			3,888
	To Sales A/c				3,888
	(Supplied goods costing 3,600 to Sanjay. Issued invoice at 20% above Cost less10% Trade Discount.)
(vii)	Outstanding repairing Bill A/c Dr.			1,000
	To Cash A/c				1,000-
	(Paid outstanding bill of repairing )

Note : Amount of Payment not given for (vii) Transaction of Outstanding repairing Bill.

Question 25:

Journalise the following entries:
(i) Goods costing ` 500 given as charity.
(ii) Sold goods to Mayank of ` 1,00,000, payable 25% by cheque at the time of sale and balance after 30 days of sale.
(iii) Received ` 975 from Harikrishna in full settlement of his account of ` 1,000.
(iv) Received a first and final dividend of 60 paise in a rupee from the Official Receiver of Rajan, who owed us ` 1,000.
(v) Charge interest on Drawings ` 1,500.
(vi) Sold goods costing ` 40,000 to Anil for cash at a profit of 25% on cost less 20% trade discount

(vii) Paid cartage ` 100 for delivery of goods.

(vii) Paid income tax `15,000.

Answer:

Journal
Sr. No.	Particulars		L.F.	Debit `	Credit `
(i)	Charity A/c	Dr.		500
	To Purchases A/c				500
	(Goods given as charity)

(ii)	Bank A/c	Dr.		25,000
	Mayank A/c	Dr.		75,000
	To Sales A/c				1,00,000
	(Goods sold partly through cheque and partly through credit)

(iii)	Cash A/c	Dr.		975
	Discount Allowed A/c	Dr.		25
	To Harikrishna A/c				1,000
	(Cash received from Harikrishna in full and final settlement)

(iv)	Cash A/c	Dr.		600
	Bad Debts A/c	Dr.		400
	To Rajan A/c				1,000
	(First and final dividend received from Rajan in full settlement of his debt)

(v)	Drawings A/c	Dr.		1,500
	To Interest on Drawings A/c				1,500
	(Interest on drawings charged)

(vi)	Cash A/c	Dr.		40,000
	To Sales A/c				40,000
	(Goods sold to Anil at 25% profit on cost and 20% Trade Discount)

(vii)	Cartage A/c	Dr.		100
	To Cash A/c				100
	(Cartage paid)
(viii)	Drawings A/c			15,000
	To Cash A/c				15,000
	(Income tax Paid)

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Ts Grewal Solution 2024-2025

Class 11th

11th | Journal | Question No. 21 To 25 | Ts Grewal Solution 2024-2025

Question 21:

Question 22:

Answer:

Question 23:

Question 24:

Answer:

Note : Amount of Payment not given for (vii) Transaction of Outstanding repairing Bill.

Question 25:

Answer:

Chapter 8 – Journal

Question No. 1 To 4
Question No. 5 To 8
Question No. 9 To 12
Question No. 13 To 16
Question No. 17 To 20

Question No. 21 To 25

commercemine

Question 21:

Question 22:

Answer:

Question 23:

Question 24:

Answer:

Note : Amount of Payment not given for (vii) Transaction of Outstanding repairing Bill.

Question 25:

Answer:

Chapter 8 – Journal

Question No. 1 To 4Question No. 5 To 8Question No. 9 To 12Question No. 13 To 16Question No. 17 To 20

Question No. 21 To 25

Question No. 1 To 4
Question No. 5 To 8
Question No. 9 To 12
Question No. 13 To 16
Question No. 17 To 20