11th | Ts grewal 2021-2022 | Question 4 | ch: 9 Ledger

Double Entry Book Keeping

TS Grewal 2021 for Class 11

Accountancy

Chapter 9 - Ledger

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Page No 9.20:

Question 4:

Journalise the following transactions in the books of Afzal, Kolkata and post them to the Ledger:
 

2020		`
Jan. 1	Started business with cash	1,00,000
Jan. 3	Bought goods on credit from Gupta & Co., Delhi	20,000
Jan. 5	Cash sales	5,000
Jan. 8	Cash purchases	8,000
Jan. 10	Sold goods to Ahmed & Co.	10,000
Jan. 11	Deposited cash in bank	50,000
Jan. 13	Purchased a computer for office	20,000
Jan. 15	Took a loan from Mehboob	70,000
Jan. 16	Goods returned by Ahmed & Co.	2,000
Jan. 17	Purchased furniture from Mehfil Mart, Kolkata	10,000
Jan. 18	Paid interest to Mehboob	2,000
Jan. 19	Received claim from Ahmed & Co. for defects in goods supplied to them. Claim was accepted and rebate was allowed.	1,000
Jan. 22	Paid rent by cheque	2,000
Jan. 24	Withdrew from bank	20,000
Jan. 25	Sales of goods at counter after allowing trade discount of 10%	10,000
Jan. 26	Goods purchased from Gupta & Co., Delhi were destroyed by accident	10,000
Jan. 27	Advertisement expenses paid through bank	5,000
Jan. 28	Ahmed & Co. settled their account by cheque	7,000
Jan. 29	Paid the due amount to Gupta & Co. by cheque after availing discount of  ` 800
Jan. 31	Sold old newspapers	500

Answer:

Journal of Afzal, Kolkata
Date	Particulars		L.F.	Debit (`)	Credit (`)
2020
Jan.01	Cash A/c	Dr.		1,00,000
	To Capital A/c				1,00,000
	(Business started with cash)
Jan.03	Purchases A/c	Dr.		20,000
	To Gupta & Co.				20,000
	(Goods purchased on credit)
Jan.05	Cash A/c	Dr.		5,000
	To Sales A/c				5,000
	(Goods sold for cash)
Jan.08	Purchases	Dr.		8,000
	To Cash A/c				8,000
	(Goods purchased for cash)
Jan.10	Ahmed & Co.	Dr.		10,000
	To Sales A/c				10,000
	(Goods sold on credit)
Jan.11	Bank A/c	Dr.		50,000
	To Cash A/c				50,000
	(Cash deposited into bank)
Jan.13	Computers A/c	Dr.		20,000
	To Cash A/c				20,000
	(Computers purchased)
Jan.15	Cash A/c	Dr.		70,000
	To Loan from Mehboob				70,000
	(Loan taken from Mehboob)
Jan.16	Sales Return A/c	Dr.		2,000
	To Ahmed & Co.				2,000
	(Goods returned by Ahmed & Co.)
Jan.17	Furniture A/c	Dr.		10,000
	To Mehfil Mart				10,000
	(Furniture purchased)
Jan.18	Interest on Mehboob Loan A/c	Dr.		2,000
	To Cash A/c				2,000
	(Interest on Loan paid)
Jan.19	Insurance Claim A/c	Dr.		1,000
	To Ahmed & Company				1,000
	(Insurance Claim due)
Jan.22	Rent A/c	Dr.		2,000
	To Bank A/c				2,000
	(Rent paid)
Jan.24	Cash A/c	Dr.		20,000
	To Bank A/c				20,000
	(Cash withdrawn from bank)
Jan.25	Cash A/c	Dr.		9,000
	To Sales A/c				9,000
	(Goods sold for cash)
Jan.26	Loss by Accident A/c	Dr.		10,000
	To Purchases A/c				10,000
	(Goods lost by accident)
Jan.27	Advertisement A/c	Dr.		5,000
	To Bank A/c				5,000
	(Advertisement expenses paid)
Jan.28	Bank A/c	Dr.		7,000
	To Ahmed & Company				7,000
	(Payment Received in full settlement)
Jan.29	Gupta & Company	Dr.		20,000
	To Bank A/c				19,200
	To Discount Received A/c				800
	(Payment made)
Jan.31	Cash A/c	Dr.		500
	To Sundry Income A/c				500
	(Sundry Income received)

 

Ledger
Cash Account
Dr.									Cr.
Date		Particulars	J.F.	Amount (`)	Date	Particulars	J.F.	Amount (`)
2020					2020
Jan.01		Capital		1,00,000	Jan.08	Purchases		8,000
Jan.05		Sales		5,000	Jan.11	Bank		50,000
Jan.15		Loan from Mehboob		70,000	Jan.13	Computer		20,000
Jan.24		Bank		20,000	Jan.18	Interest on Mehboob Loan		2,000
Jan.25		Sales		9,000	Jan.31	Balance c/d		1,24,500
Jan.31		Sundry income		500
				2,04,500				2,04,500
Feb.01		Balance b/d		1,24,500

 

Purchases Account
Dr.							Cr.
Date		Particulars	J.F.	Amount (`)	Date	Particulars	J.F.	Amount (`)
2020					2020
Jan.03		Gupta & Company		20,000	Jan.26	Loss by Accident		10,000
Jan.08		Cash		8,000	Jan.31	Balance c/d		18,000
				28,000				28,000
Feb.01		Balance b/d		18,000

 

Capital Account
Dr.							Cr.
Date		Particulars	J.F.	Amount (`)	Date	Particulars	J.F.	Amount (`)
2020					2020
Jan.31		Balance c/d		1,00,000	Jan.01	Cash		1,00,000
				1,00,000				1,00,000
					Feb.01	Balance b/d		1,00,000

 

Sales Account
Dr.							Cr.
Date		Particulars	J.F.	Amount (`)	Date	Particulars		J.F.	Amount (`)
2020					2020
Jan.31		Balance c/d		24,000	Jan.05	Cash			5,000
					Jan.10	Ahmed & Company			10,000
					Jan.25	Cash			9,000
				24,000					24,000
					Feb.01	Balance b/d			24,000

 

Gupta & Company
Dr.								Cr.
Date		Particulars	J.F.	Amount (`)	Date	Particulars	J.F.	Amount (`)
2020					2020
Jan.29		Bank		19,200	Jan.03	Purchases		20,000
Jan.29		Discount Received		800
				20,000				20,000

 

Ahmed & Company
Dr.							Cr.
Date		Particulars	J.F.	Amount (`)	Date	Particulars	J.F.	Amount (`)
2020					2020
Jan.10		Sales		10,000	Jan.16	Sales returns		2,000
					Jan.19	Insurance claim		1,000
					Jan.28	Bank		7,000
				10,000				10,000

 

Bank Account
Dr.							Cr.
Date	Particulars	J.F.	Amount (`)	Date	Particulars	J.F.		Amount (`)
2020				2020
Jan.11	Cash		50,000	Jan.22	Rent			2,000
Jan.28	Ahmed & Company		7,000	Jan.24	Cash			20,000
				Jan.27	Advertisement			5,000
				Jan.29	Gupta & Company			19,200
				Jan.31	Balance c/d			10,800
			57,000					57,000
Feb.01	Balance b/d		10,800

 

Computers Account
Dr.							Cr.
Date		Particulars	J.F.	Amount (`)	Date	Particulars	J.F.	Amount (`)
2020					2020
Jan.13		Cash		20,000	Jan.31	Balance c/d		20,000
				20,000				20,000
Feb.01		Balance b/d		20,000

 

Loan from Mehboob
Dr.								Cr.
Date		Particulars	J.F.	Amount (`)	Date	Particulars	J.F.	Amount (`)
2020					2020
Jan.31		Balance c/d		70,000	Jan.15	Cash		70,000
				70,000				70,000
					Feb.01	Balance b/d		70,000

 

Insurance Claim Account
Dr.							Cr.
Date		Particulars	J.F.	Amount (`)	Date	Particulars	J.F.	Amount (`)
2020					2020
Jan.19		Ahmed & Company		1,000	Jan.31	Balance c/d		1,000
				1,000				1,000
Feb.01		Balance b/d		1,000

 

Rent Account
Dr.							Cr.
Date		Particulars	J.F.	Amount (`)	Date	Particulars		J.F.	Amount (`)
2020					2020
Jan.22		Bank		2,000	Jan.31	Balance c/d			2,000
				2,000					2,000
Feb.01		Balance b/d		2,000

 

Loss by Accident Account
Dr.							Cr.
Date		Particulars	J.F.	Amount (`)	Date	Particulars	J.F.	Amount (`)
2020					2020
Jan.26		Purchases		10,000	Jan.31	Balance c/d		11,200
				10,000				10,000
Feb.01		Balance b/d		10,000

 

Advertisement Account
Dr.							Cr.
Date		Particulars	J.F.	Amount (`)	Date	Particulars	J.F.	Amount (`)
2020					2020
Jan.27		Bank		5,000	Jan.31	Balance c/d		5,000
				5,000				5,000
Feb.01		Balance b/d		5,000

 

Sales Returns Account
Dr.							Cr.
Date		Particulars	J.F.	Amount (`)	Date	Particulars	J.F.	Amount (`)
2020					2020
Jan.16		Ahmed & Company		2,000	Jan.31	Balance c/d		2,000
				2,000				2,000
Feb.01		Balance b/d		2,000

 

Furniture Account
Dr.						Cr.
Date	Particulars	J.F.	Amount (`)	Date	Particulars		J.F.	Amount (`)
2020				2020
Jan.17	Mehfil Mart		10,000	Jan.31	Balance c/d			10,000
			10,000					10,000
Feb.01	Balance b/d		10,000

 

Mehfil Mart
Dr.							Cr.
Date		Particulars	J.F.	Amount (`)	Date	Particulars	J.F.	Amount (`)
2020					2020
Jan.31		Balance c/d		10,000	Jan.17	Furniture		10,000
				10,000				10,000
					Feb.01	Balance b/d		10,000

 

Interest on Mehboob Loan Account
Dr.									Cr.
Date		Particulars	J.F.	Amount (`)	Date	Particulars			J.F.	Amount (`)
2020					2020
Jan.18		Cash A/c		2,000	Jan.31	Balance c/d				2,000
				2,000						2,000
Feb.01		Balance b/d		2,000
Discount Allowed Account
Dr.							Cr.
Date		Particulars	J.F.	Amount (`)	Date	Particulars		J.F.		Amount (`)
2020					2020
Jan.28		Ahmed & Company		800	Jan.31	Balance c/d				800
				800						800
Feb.01		Balance b/d		800

 

Discount Received Account
Dr.							Cr.
Date		Particulars	J.F.	Amount (`)	Date	Particulars	J.F.	Amount (`)
2020					2020
Jan.31		Balance c/d		2,000	Jan.29	Gupta & Company		2,000
				2,000				2,000
					Feb.01	Balance b/d		2,000

 

Sundry Incomes  Account
Dr.							Cr.
Date		Particulars	J.F.	Amount (`)	Date	Particulars		J.F.	Amount (`)
2020					2020
Jan.31		Balance c/d		500	Jan.31	Cash			500
				500					500
					Feb.01	Balance b/d			500

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