Page No 6.17:
Question 6:
From the following transactions, state the nature of account and state which account will be debited and which account credited:
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(i) |
Manu
started business with cash |
1,00,000 |
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(ii) |
He
purchased furniture for business |
20,000 |
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(iii) |
Purchase
goods on credit from Anshul |
6,000 |
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(iv) |
Paid
to his creditor, Anshul |
2,000 |
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(v) |
Paid
salary to his clerk |
1,000 |
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(vi) |
Paid
rent |
500 |
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(vii) |
Received
interest |
200 |
Answer:
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Transactions |
Nature of Account |
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Manu
started business with cash |
Cash
A/c- Debit Capital A/c- Credit |
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He
purchased furniture for business |
Furniture
A/c- Debit Cash A/c- Credit |
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Purchased
goods on credit from Anshul |
Purchases
A/c- Debit Creditor A/c- Credit |
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Paid
to his creditor, Anshul |
Creditor
A/c- Debit Cash A/c- Credit |
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Paid
salary to his clerk |
Salary
A/c- Debit Cash A/c- Credit |
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Paid
rent |
Rent
A/c- Debit Cash A/c- Credit |
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Received
interest |
Cash
A/c- Debit Interest A/c- Credit |
Page No 6.17:
Question 7:
Open a 'T' shape account for machinery and put the following transactions on the proper side:
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(i) |
Machinery
purchased |
40,000 |
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(ii) |
Machinery
sold |
10,000 |
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(iii) |
Machinery
purchased |
8,000 |
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(iv) |
Machinery
discarded |
14,000 |
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(v) |
Depreciation
on machinery |
1,000 |
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Answer:
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Machinery(Asset) Account |
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Dr. |
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Cr. |
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Date |
Particulars |
Amount (`) |
Particulars |
Amount (`) |
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Bank (Purchased) |
40,000 |
Bank (Sale) |
10,000 |
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Bank (Purchased) |
8,000 |
Bank (Discarded) |
14,000 |
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Depreciation |
1,000 |
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Balance c/d |
23,000 |
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48,000 |
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48,000 |
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Page No 6.18:
Question 8:
Open a 'T' shape Cash Account with the following transactions:
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` |
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(i) |
Mohan
started business with cash |
40,000 |
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(ii) |
Purchased
Goods |
20,000 |
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(iii) |
Sold
Goods |
24,000 |
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(iv) |
Paid
Rent |
400 |
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(v) |
Paid
salaries |
600 |
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(vi) |
Drew
for personal use |
1,000 |
Answer:
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Cash Account |
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Dr. |
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Cr. |
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Date |
Particulars |
J.F. |
Amount (`) |
Date |
Particulars |
J.F. |
Amount (`) |
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(i) |
Capital |
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40,000 |
(ii) |
Purchases |
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20,000 |
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(iii) |
Sales |
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24,000 |
(iv) |
Rent |
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400 |
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(v) |
Salaries |
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600 |
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(vi) |
Drawings |
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1,000 |
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Balance c/d |
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42,000 |
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64,000 |
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64,000 |
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Page No 6.18:
Question 9:
Open a 'T' shape account of creditor, 'Rakesh', and write the following transactions on the proper side:
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` |
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(i) |
Goods
purchased from Rakesh on credit |
50,000 |
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(ii) |
Goods
returned to Rakesh for |
5,000 |
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(iii) |
Paid
to Rakesh |
20,000 |
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(iv) |
Purchase
goods from Rakesh on credit |
10,000 |
Answer:
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Rakesh |
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Dr. |
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Cr. |
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Date |
Particulars |
J.F. |
Amount (`) |
Date |
Particulars |
J.F. |
Amount (`) |
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(ii) |
Purchases Return |
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5,000 |
(i) |
Purchases |
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50,000 |
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(iii) |
Cash |
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20,000 |
(iv) |
Purchases |
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10,000 |
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Balance c/d |
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35,000 |
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60,000 |
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60,000 |
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Page No 6.18:
Question 10:
Open a 'T' shape account of debtor 'Brij' and write the following transactions on the proper side:
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(i) |
Sold
goods to Brij on credit |
` 25,000 |
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(ii) |
Cash
received from Brij |
` 10,000 ` 500 |
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(iii) |
Goods
returned by Brij |
` 5,000 |
Answer:
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Brij (Debtors) |
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Dr. |
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Cr. |
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Date |
Particulars |
J.F. |
Amount (`) |
Date |
Particulars |
J.F. |
Amount (`) |
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(i) |
Sales |
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25,000 |
(ii) |
Cash |
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10,000 |
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Discount Received |
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500 |
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(iii) |
Sales Return |
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5,000 |
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Balance c/d |
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9,500 |
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25,000 |
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25,000 |
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