Page No 6.18:
Question 11:
Put the following on the proper side of a Cash Account, a Debtor's Account and a Creditor's Account:
|
|
|
` |
|
(i) |
Sold
goods to Sanjay on credit |
50,000 |
|
(ii) |
Sold
goods to Mohan for cash |
20,000 |
|
(iii) |
Purchased
goods from Ram on credit |
25,000 |
|
(iv) |
Cash
received from Sanjay |
19,000 |
|
(v) |
Goods
returned by Sanjay |
2,000 |
|
(vi) |
Paid
rent |
500 |
|
(vii) |
Cash
paid to Ram |
15,000 |
Answer:
|
Cash Account |
|
||||||||||||||||||||||||||
|
Dr. |
|
Cr. |
|
||||||||||||||||||||||||
|
Date |
Particulars |
J.F. |
Amount (`) |
Date |
Particulars |
J.F. |
Amount (`) |
|
|||||||||||||||||||
|
(ii) |
Sales |
|
20,000 |
(vi) |
Rent |
|
500 |
|
|||||||||||||||||||
|
(iv) |
Sanjay |
|
19,000 |
(vii) |
Ram |
|
15,000 |
|
|||||||||||||||||||
|
|
|
|
|
|
Balance c/d |
|
23,500 |
|
|||||||||||||||||||
|
|
|
|
39,000 |
|
|
|
39,000 |
|
|||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
|
Sanjay (Debtors) |
|||||||||||||||||||||||||||
|
Dr. |
|
Cr. |
|||||||||||||||||||||||||
|
Date |
Particulars |
J.F. |
Amount (`) |
Date |
Particulars |
J.F. |
Amount (`) |
||||||||||||||||||||
|
(i) |
Sales |
|
50,000 |
(iv) |
Cash |
|
19,000 |
||||||||||||||||||||
|
|
|
|
|
(v) |
Sales Return |
|
2,000 |
||||||||||||||||||||
|
|
|
|
|
|
Balance c/d |
|
29,000 |
||||||||||||||||||||
|
|
|
|
50,000 |
|
|
|
50,000 |
||||||||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
|
Ram (Creditors) |
|||||||||||||||||||||||||||
|
Dr. |
|
Cr. |
|||||||||||||||||||||||||
|
Date |
Particulars |
J.F. |
Amount (`) |
Date |
Particulars |
J.F. |
Amount (`) |
||||||||||||||||||||
|
(vii) |
Cash |
|
15,000 |
(iii) |
Purchase |
|
25,000 |
||||||||||||||||||||
|
|
Balance c/d |
|
10,000 |
|
|
|
|
||||||||||||||||||||
|
|
|
|
25,000 |
|
|
|
25,000 |
||||||||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Page No 6.18:
Question 12:
From the following particulars,
prepare the proprietor's Capital Account:
|
|
` |
|
1st
April, 2018 − Commenced business with cash |
2,00,000 |
|
31st
March, 2019 − Net Loss as per Profit and Loss Account |
18,000 |
|
31st
March, 2019 − Drawings during the period |
15,000 |
Balance the same and explain what the closing balance indicates.
Answer:
|
Capital Account |
|||||||
|
Dr. |
|
Cr. |
|||||
|
Date |
Particulars |
J.F. |
Amount (`.) |
Date |
Particulars |
J.F. |
Amount (`.) |
|
2019 |
|
|
|
2018 |
|
|
|
|
March 31 |
Profit and Loss A/c (Net Loss) |
|
18,000 |
April 01 |
Cash |
|
2,00,000 |
|
March 31 |
Drawings |
|
15,000 |
|
|
|
|
|
March 31 |
Balance c/d |
|
1,67,000 |
|
|
|
|
|
|
|
|
2,00,000 |
|
|
|
2,00,000 |
|
|
|
|
|
|
|
|
|
Page No 6.18:
Question 13:
From the following particulars, prepare the proprietor's Capital Account:
|
2013 |
|
` |
|
April
1 |
Started
business with |
45,000 |
|
May
10 |
Withdrew
from business for personal use |
10,000 |
|
July
15 |
Further
Capital introduced |
55,000 |
|
Nov.
30 |
Income
tax paid |
5,000 |
|
2014 |
|
|
|
Mar.
31 |
Profit
for the year |
30,000 |
Answer:
|
Proprietor’s
Capital Account |
||||||
|
Dr. |
Cr. |
|||||
|
Date |
Particulars |
Amount (`) |
Date |
Particulars |
Amount (`) |
|
|
2013 |
|
|
2013 |
|
|
|
|
Mar.10 |
Drawings A/c |
10,000 |
Apr.01 |
Cash A/c |
45,000 |
|
|
Nov.30 |
Drawings A/c ( Income Tax) |
5,000 |
July
15 |
Cash A/c |
55,000 |
|
|
2014 |
|
|
2014 |
|
|
|
|
Mar.31 |
Balance c/d |
1,15,000 |
Mar.31 |
Profit and Loss A/c |
30,000 |
|
|
|
|
|
|
|
|
|
|
|
|
1,30,000 |
|
|
1,30,000 |
|
|
|
|
|
|
|
|
|