T S GREWAL Solutions for Class 11-commerce Accountancy Chapter 8 - Journal

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Chapter 8 - Journal Exercise 8.68

Question PQ 1

Q 1

Solution PQ 1

Book of Ramesh
Journal
Date	Particulars		L.F.	Dr. Rs.	Cr. Rs.
2019
April 01	Cash A/c	Dr.		1,00,000
	--------To capital A/c				1,00,000
	(Being Ramesh started business with cash)

April 02	Bank A/c	Dr.		20,000
	--------To Cash A/c				20,000
	(Being cash paid into bank)

April 03	Purchase A/c	Dr.		50,000
	--------To Cash A/c				50,000
	(Being purchased goods for cash )

April 04	Cash A/c	Dr.		10,000
	--------To Bank A/c				10,000
	(Being drew cash from bank for office use)

April 13	Krishna A/c	Dr.		15,000
	--------To Sales A/c				15,000
	(Being sold goods to Krishna on credit)

April 20	Purchase A/c	Dr		22,500
	--------To Shyam A/c				22,500
	(Being bought goods from Shyam on credit )

April 24	Cash A/c	Dr.		12,500
	Discount Allowed A/c	Dr.		500
	--------To Krishna A/c				13,000
	(Being received cash from Krishna and discount allowed)

April 28	Shyam A/c	Dr.		22,500
	--------To Cash A/c				21,500
	--------To Discount received A/c				1,000
	(Being paid to Shyam and discount received)

April 28	Sales Return A/c	Dr.		2,000
	--------To Krishna A/c				2,000
	(Being goods return by kirshna)

April 30	Cash A/c	Dr.		80,000
	--------To Sales A/c				80,000
	(Being sold goods for cash)

April 30	Rent A/c	Dr.		5,000
	Salary A/c	Dr.		10,000
	--------To Cash A/c				15,000
	(Being rent and salary were paid )

Chapter 8 - Journal Exercise 8.69

Question PQ 2

Q 2

Solution PQ 2

Books of Rahul
Journal
Date	Particulars		L.F.	Dr. Rs.	Cr. Rs.
2019
Jan. 01	Cash A/c	Dr.		1,00,000
	--------To Capital A/c				1,00,000
	(Being Rahul started business with cash)

Jan. 02	Bank A/c	Dr.		60,000
	--------To Cash A/c				60,000
	(Being paid into Bank)

Jan. 03	Purchase A/c	Dr.		20,000
	--------To M/s. S. Singh of Co. A/c				20,000
	(Being purchased goods from M/s S. Singh and Co)

Jan. 03	Cartage A/c	Dr.		300
	--------To Cash A/c				300
	(Being paid for Cartage)

Jan. 04	Furniture A/c	Dr.		2,000
	Office Equipments A/c	Dr.		1,000
	Computer A/c	Dr.		13,000
	--------To Bank A/c				16,000
	(Being Furniture, Office Equipments and Computer purchased through cheque)

Jan. 04	HP Printers A/c	Dr.		5,000
	--------To Bank A/c				5,000
	(Being Advance payment for placing an order for HP Printers)


Jan. 06	Postage A/c	Dr.		150
	--------To Cash A/c				150
	(Being paid for postage)

Jan. 08	Cash A/c	Dr.		4,000
	--------To Sales A/c				4,000
	(Being sold goods for Cash)

Jan. 09	M/s. S. Sharda and Co. A/c	Dr.		10,000
	--------To Sales A/c				10,000
	(Being sold goods to M/s. S. Sharda and Co.)

Jan. 15	M/s S. Singh and Co. A/c	Dr.		17,500
	--------To Cash A/c				17,500
	(Being paid to M/s S. Singh and Co.)

Jan. 25	M/s. Ray and Co. A/c	Dr.		5,600
	--------To Sales A/c				5,600
	(Being sold goods to M/s. Ray and Co)

Jan. 27	Bank A/c	Dr.		9,750
	Discount Allowed A/c	Dr.		250
	--------To M/s S. Shardaand Co A/c				10,000
	(Being cash received from M/s S. Sharda and Co. and discount allowed)

Jan. 31	Electricity Charges A/c	Dr.		1,000
	Salary A/c	Dr.		1,500
	--------To Cash A/c				2,500
	(Being electricity charges and salary paid)

Jan. 31	Rent A/c	Dr.		2,500
	Drawings A/c	Dr.		2,500
	--------To Cash A/c				5,000
	(Being rent paid half of which related to personal use)

Jan. 31	Drawings A/c	Dr.		3,500
	--------To Cash A/c				3,500
	(Being withdrew for private use)

Question PQ 3

Q 3

Solution PQ 3

Journal
Sr. No.	Particulars		L.F.	Dr. Rs.	Cr. Rs.
i.	Purchase A/c	Dr.		16,000
	--------To Cash A/c				16,000
	(Being goods purchase by cheque)

ii.	Purchase A/c	Dr.		17,000
	--------To Cash A/c				17,000
	(Being goods purchased by cash)

iii.	Purchase A/c	Dr.		24,000
	--------To Amit A/c				24,000
	(Being goods purchased by Amit on credit)

iv.	Purchase A/c	Dr.		35,000
	--------To Cash A/c				35,000
	(Being cash purchases)

v.	Amit A/c	Dr.		8,000
	--------To Purchase Return A/c				8,000
	(Being goods return by Amit)

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

vii.	Cash A/c	Dr.		27,000
	--------To Sales A/c				27,000
	(Being sold goods for cash)

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

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

x.	Bhupesh A/c (WN 1)	Dr.		10,800
	--------To Cash A/c				10,800
	(Being sold goods to Bhupesh on credit)

xi.	Bank A/c (WN 2)	Dr.		47,812.50
	--------To Sales A/c				47,812.50
	(Being sold goods to cheque)

xii.	Sales Return A/c	Dr.		9,000
	--------To Aman A/c				9,000
	(Being goods return by aman)

Working Notes:

Calculation of Sales Price

Sales Price = Goods Sold + Cost - trade discount

Sales Price = 10,000 + 20% - 10% = Rs.10,800

Calculation of Purchase and sales Price

Purchase Price = Purchases goods - Trade Discount

Purchase Price =50,000 - 15% = Rs.42,500

Sales Price = Goods Sold + Profit - trade discount

Sales Price = 42,500 + 25% - 10% = Rs.47,812.50

Question PQ 4

Q 4

Solution PQ 4

Journal
Sr. No.	Particulars		L.F.	Dr. Rs.	Cr. Rs.
i.	Cash A/c	Dr.		20,000
	Discounted Allowed A/c	Dr.		500
	--------To Bharat A/c				20,500
	(Being Payment received from Bharat on cash)

ii.	Bank A/c	Dr.		35,000
	Discounted Allowed A/c	Dr.		750
	--------To Vikas A/c				35,750
	(Being Payment received from Vikas on credit)

iii.	Cash A/c	Dr.		38,000
	Discounted Allowed A/c	Dr.		2,000
	--------To Akhil A/c				40,000
	(Being Payment received from Akhil on cash)

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

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

vi.	Mehar A/c	Dr.		26,000
	--------To Cash A/c				25,000
	--------To Discount Received A/c				1,000
	(Being Payment mead to Mehar with Discount Received)

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

viii.	Purchase A/c	Dr.		97,000
	--------To Bank A/c				97,000
	(Being goods purchase to cheque)

ix.	Purchase A/c	Dr.		60,000
	--------To Akash and co. A/c				30,000
	--------To Cash A/c				29,100
	-------- To Discount Received A/c				900
	(Being goods purchase to Akash and co.)

x.	Bank A/c	Dr.		29,400
	--------To Sales A/c				29,400
	(Being sold goods to cheque)

xi.	Vimal A/c	Dr.		30,000
	Cash A/c	Dr.		29,400
	Discount Allowed A/c	Dr.		600
	--------To Aman A/c				60,000
	(Being goods return by aman)

Chapter 8 - Journal Exercise 8.70

Question PQ 5

Q 5

Solution PQ 5

Journal
Sr. No.	Particular		L.F.	Dr. Rs.	Cr. Rs.
i.	Cash A/c	Dr.		7,500
	Bad Debt A/c	Dr.		2,500
	--------To Shyam's A/c				10,000
	(Being 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
	(Being amount written off as bad debts recovered )

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

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

v.	Advance to Rakesh Mohan A/c	Dr.		10,000
	--------To Bank A/c				10,000
	(Being advance paid to Rakesh Mohan for a future order)

Question PQ 6

Q 6

Solution PQ 6

Journal
Sr. No.	Particulars		L.F.	Dr. Rs.	Cr. Rs.
i.	Charity A/c	Dr.		500
	--------To Purchase A/c				500
	(Being goods given as charity)

ii.	Bank A/c	Dr.		25,000
	Mayank A/c	Dr.		75,000
	--------To Sales A/c				1,00,000
	(Being goods sold partly thought bank and partly on credit )

iii.	Cash A/c	Dr.		975
	Discount Allowed A/c	Dr.		25
	--------To Harikrishna A/c				1,000
	(Being 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
	(Being first and final dividend received from Rajan in full settlement of his debt)

v.	Depreciation A/c	Dr.		1,000
	--------To Plant A/c				1,000
	(Being depreciation charged on plant)

vi.	Drawing A/c	Dr.		1,500
	--------To Interest on Drawing A/c				1,500
	(Being interest on drawing charged)