Journal - Class 11th Commerce Notes | EduRev

TS Grewal Solutions - Class 11 Accountancy

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The document Journal - Class 11th Commerce Notes | EduRev is a part of the Commerce Course TS Grewal Solutions - Class 11 Accountancy.
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Page No 8.68:
Question1: Following transactions of Ramesh for April, 2019 are given below. Journalise them.
Journal - Class 11th Commerce Notes | EduRev
ANSWER:

Journal - Class 11th Commerce Notes | EduRev

Journal - Class 11th Commerce Notes | EduRevJournal - Class 11th Commerce Notes | EduRev



Question2: Journalise the following transactions of Mr. Rahul:
Journal - Class 11th Commerce Notes | EduRev
Answer 2:
Journal - Class 11th Commerce Notes | EduRev
Journal - Class 11th Commerce Notes | EduRev



Question3: 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 of list price of ₹ 40,000 for ₹ 35,000 for cash.
(v) Goods returned of list price ₹ 10,000 purchased from Amrit.
(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 less 15% trade discount 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 3:
Journal - Class 11th Commerce Notes | EduRev
Journal - Class 11th Commerce Notes | EduRev
Journal - Class 11th Commerce Notes | EduRev


Page No 8.69:

Question 4: 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 from Akhil ₹ 38,000 in settlement of his dues of ₹ 40,000 in cash.
(iv) Received from Amrit ₹ 50,000 by cheque on account against dues of ₹ 60,000.
(v) Paid cash ₹ 40,000 to suresh, 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.
Journal - Class 11th Commerce Notes | EduRev
Journal - Class 11th Commerce Notes | EduRev

Page No 8.70:


Question 5: Journalise the following transactions:  

Journal - Class 11th Commerce Notes | EduRev
Answer 5:
Journal - Class 11th Commerce Notes | EduRev

Page No 8.70:


Question 6: 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 and paid cartage ₹ 100, which is not to be charged from customer.
Answer 6:
Journal - Class 11th Commerce Notes | EduRev

Page No 8.70:


Question 7: Journalise the following transactions:
Journal - Class 11th Commerce Notes | EduRev
Answer 7:
Journal - Class 11th Commerce Notes | EduRev
Journal - Class 11th Commerce Notes | EduRev

Page No 8.70:

Question 8: Journalise the following transactions of Singh Enterprises, Delhi:
Journal - Class 11th Commerce Notes | EduRev
Answer 8:
Journal - Class 11th Commerce Notes | EduRev
Journal - Class 11th Commerce Notes | EduRev

Page No 8.71:

Question 9:

Journalise the following transactions of Rakesh Agencies, Delhi (Proprietor Shri Rakesh):
Journal - Class 11th Commerce Notes | EduRev
Journal - Class 11th Commerce Notes | EduRev
Answer 9:
Journal - Class 11th Commerce Notes | EduRev
Journal - Class 11th Commerce Notes | EduRev

Page No 8.71:

Question 10: Journalise the following transactions of Satish, Noida (UP):
Journal - Class 11th Commerce Notes | EduRev
Answer 10:
Journal - Class 11th Commerce Notes | EduRev
Journal - Class 11th Commerce Notes | EduRev
Note: There is an error in the question as the amount paid by M/s Sharda & Co. against goods sold can be eaqual to or less than the amount due but not more. Thus, taken to be as ₹10,000 instead of ₹11,000.

Page No 8.72:

Question 11: Following are the transactions of R.Singh & Co., Kanpur (UP) for the month of July, 2018. You are required to Journalise them:
Journal - Class 11th Commerce Notes | EduRev
Answer 11:
Journal - Class 11th Commerce Notes | EduRev
Journal - Class 11th Commerce Notes | EduRev
Journal - Class 11th Commerce Notes | EduRev

Page No 8.72:


Question 12: Record the following transactions in the Journal of Ashoka Furniture Traders, Ludhiana (Punjab):
Journal - Class 11th Commerce Notes | EduRev
CGST and SGST is levied @ 6% each on intra-state sale and purchase. IGST is levied @ 12% on inter-state sale and purchase.
Answer 12:
Journal - Class 11th Commerce Notes | EduRev
Journal - Class 11th Commerce Notes | EduRev
Note: In the entry dated Feb 10 the amount paid exceeds the amont due to Singh and Co. and in the entry dated Feb 15 the amont received exceeds the amount due from Rakesh. These 2 are not possible. So, the amont paid and received has been assumed.

Page No 8.73:

Question 13: M/s. Auto Aid, Delhi purchased 500 pieces of car horns @ ₹ 200 each less 10% Trade Discount plus IGST @ 12% from M/s Auto Horns, Chandigarh. What is the invoice value?

Answer 13:
Journal - Class 11th Commerce Notes | EduRev

Page No 8.73:

Question 14: M/s. Vaish Traders, Delhi purchased 500 Parker Pens @ ₹ 200 each less Trade Discount @ 15% from Luxor Pens Ltd., Delhi. CGST and SGST was levied @ 6% each. Further, Cash Discount was allowed @ 5% as the payment was made within specified time. What will be the amount of trade discount and cash discount?
Answer 14:
Journal - Class 11th Commerce Notes | EduRev

Page No 8.73:

Question 15: M/s. Auto Help, Delhi purchased 500 pieces of motor cycle horns at ₹ 100 each plus IGST @ 12% from M/s G.S., Auto, Ghaziabad, (UP). Trade terms settled were: Trade Discount will be allowed @ 10% and Cash Discount @ 5% if payment is made within 7 days. M/s. Auto Help made the payment after 30 days. Determine the amount of Trade Discount and Cash Discount.
Answer 15:
Journal - Class 11th Commerce Notes | EduRev
Note: No cash discount will be allowed as the payment is received after the stipulated time period of 7 days.

Page No 8.73:

Question 16: Name the accounts to be credited along with the amount for payment to Ajay of ₹ 4,800 by cheque in full settlement of ₹ 5,000.
Answer 16:
Journal - Class 11th Commerce Notes | EduRev

Page No 8.73:

Question 17: Pass Journal entry for sale of goods by Rahul, Delhi to Anish, Delhi for ₹ 10,000 less 10% Trade Discount and 2% Cash Discount. Assume payment is received at the time of sale. CGST and SGST is levied @ 6% each.
Answer 17:
Journal - Class 11th Commerce Notes | EduRev
Journal - Class 11th Commerce Notes | EduRev

Page No 8.73:

Question 18: Pass Journal entry for purchase of goods by Amrit, Delhi from Ayur Products, Agra, (UP) for ₹ 25,000 less Trade Discount @ 15% plus IGST @ 12%.
Answer 18:
Journal - Class 11th Commerce Notes | EduRev
Journal - Class 11th Commerce Notes | EduRev

Page No 8.73:

Question 19: Pass Journal entry for purchase of goods by Amrit, Delhi from Add Gel Pens, Delhi for ₹ 15,000 less Trade Discount 10% and Cash Discount 3%. CGST and SGST is levied @ 6% each. Assume payment is made at the time of purchase.
Answer 19:
Journal - Class 11th Commerce Notes | EduRev
Journal - Class 11th Commerce Notes | EduRev

Page No 8.73:

Question 20: Mittal Cycles purchased 100 cycles from Hero Cycles, Ludhina (Punjab) @ ₹ 1,200 per cycle plus IGST @ 12%. Hero Cycles allowed 10% Trade Discount and 3% Cash Discount if payment is made within 14 days. Mittal Cycles received 10 cycles damaged during transit, which it returned. Mittal Cycles settled the payment in 10 days time.

Pass Journal entries for the above transactions.
Answer 20:
Journal - Class 11th Commerce Notes | EduRev

Page No 8.73:

Question 21: Oswal Woollen Mills, Amritsar (Punjab) sold shawls to Gupta Shawls, Jaipur as per details:

Sold 100 shawls @ ₹ 200 per shawl on 4th January, 2019, IGST is levied @ 12%. 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, 2019 and balance payment on 10th February, 2019. Pass Journal entries.
Answer 21:
Journal - Class 11th Commerce Notes | EduRev

Page No 8.74:

Question 22: Journalise the following transactions in the books of Ashok:
(i)   Received ₹ 11,700 from Hari Krishan in full settlement of his account for ₹
12,000.
(ii)  Received ₹ 11,700 from Shyam on his account for ₹ 12,000.
(iii) Received a first and final dividend of 70 paise in the rupee from the
official receiver of Rajagopal who owed us ₹ 7,000.
(iv) Paid ₹ 2,880 to A.K. Mandal in full settlement of his account for ₹ 3,000.(v)  Paid ₹ 2,880 to S.K. Gupta on his account for ₹ 3,000.
Answer 22:
Journal - Class 11th Commerce Notes | EduRev


Page No 8.74:

Question 23: Enter the following transactions in the Journal of Suresh, Delhi who trades in ready-made garments:
Journal - Class 11th Commerce Notes | EduRev
CGST and SGST is levied @ 6% each on intra-state sale and purchase. IGST is levied @ 12% on inter-state sale and purchase. Out of the above, transactions marked with (*) are not subject to levy of GST.
ANSWER:
Journal - Class 11th Commerce Notes | EduRev
Journal - Class 11th Commerce Notes | EduRev
Journal - Class 11th Commerce Notes | EduRev


Page No 8.74:

Question 24: Journalise the following transactions:
Journal - Class 11th Commerce Notes | EduRev
ANSWER:
Journal - Class 11th Commerce Notes | EduRev
Journal - Class 11th Commerce Notes | EduRev
Note for Apr 17: Cheque of Rs 2,940 dishonoured. Bank charged Rs 10 (to be recovered from Shiv & Co.). Total due from Shiv & Co. Rs 2,950. New cheque received for Rs 3,000, so interest charged should be Rs 50 (not Rs 40, as given in the book).


Page No 8.75:

Question 25: Journalise the following in the books of Amit Saini, Gurugram
(Haryana):
(i) Goods of ₹ 5,000 were taken by him for personal use.
(ii) ₹ 2,000 due from Sohan were bad debts.
(iii) Goods of ₹ 6,000 were destroyed by fire and were not insured.
(iv) Paid ₹ 4,000 in cash as wages on installation of machine. (GST is not to be levied).
(v) Sold goods to Arjun of Delhi of list price ₹ 20,000. Trade discount @ 10%
and cash discount of 5% was allowed. He paid the amount on the same day and
availed the cash discount.
(vi) Received ₹ 2,000 from Ramesh, whose account was written off as bad debts.
(vii) Goods costing ₹ 1,000 given as charity.
(viii) Received ₹ 9,750 from Ramesh in full settlement of his account of ₹ 10,000.
(ix) Paid rent in advance ₹ 4,000.
CGST and SGST is to be levied on intra-state sale @ 6% each and IGST @ 12%
on inter-state sale.
ANSWER:
Journal - Class 11th Commerce Notes | EduRev
Journal - Class 11th Commerce Notes | EduRev


Page No 8.75:

Question 26: Journalise the following transactions in the books of Mohan, Delhi:
(i) Raj of Alwar, Rajasthan who owed Mohan ₹ 25,000 became insolvent and received 60 paise in a rupee as full and final settlement.
(ii)  Mohan owes to his landlord ₹ 10,000 as rent.
(iii) Charge depreciation of 10% on furniture costing ₹ 50,000.
(iv) Salaries due to employees ₹ 20,000.
(v)  Sold to Sunil goods in cash of ₹ 10,000 less 10% trade discount plus CGST
and SGST @ 6% each and received a net of ₹ 8,500.
(vi) Provided interest on capital of ₹ 1,00,000 @ 10% per annum.
(vii) Goods lost in theft ₹ 5,000, which were purchased paying IGST @ 12%
from Alwar, Rajasthan.
[Hint:]
Journal - Class 11th Commerce Notes | EduRev
ANSWER:
Journal - Class 11th Commerce Notes | EduRev
Journal - Class 11th Commerce Notes | EduRev


Page No 8.75:

Question 27: Pass Journal entries in the books of Puneet, Delhi for the following:
(i) Received an order from Karan & Co. for supply of goods of ₹ 50,000.
(ii) Received an order from AK & Co. for goods of ₹ 1,00,000 along with a cheque for ₹ 25,000 as advance.
(iii) Paid to staff ₹ 40,000 against outstanding salary of ₹ 60,000.
(iv) Sold goods to Bharat, Kaithal (Haryana) of ₹ 10,000 plus IGST @ 12% out
of which 1/5th were returned being defective.
(v) Cheque of ₹ 20,000 issued by Feroz was dishonoured.
(vi) Received 40 paise in a rupee from Feroz against the above dues.
(vii) Received a cheque of ₹ 25,000 from Mohan after banking hours.
(viii) Purchased goods from Barun of Chandigarh of ₹ 10,000 plus IGST @ 12%
and sold them to Arun of Shimla (HP) at ₹ 22,400, including IGST @ 12%.
(ix) Arun returned goods of ₹ 6,720, including IGST which were returned to
Barun.
(x) ABC & Co. purchased 10 TV sets @ ₹ 20,000 per set and paid IGST @ 12%.
It sold all the sets @ ₹ 25,000 per set plus CGST and SGST @ 6% each.
(xi) Paid insurance of ₹ 12,000 plus CGST and SGST @ 6% each for a period of
one year.
(xii) Sold personal car for ₹ 1,00,000 and invested the amount in the firm.
(xiii) Goods costing ₹ 1,00,000 were destroyed in fire. Insurance company admitted the claim for ₹ 75,000. These goods were purchased within Delhi.
(xiv) Purchased machinery for ₹ 56,000 including IGST of ₹ 6,000 and paid cartage thereon ₹ 5,000 and installation charges ₹ 10,000.
(xv) Goods costing ₹ 40,000 sold to Mr. X at a profit of 20% on sales less 10% Trade Discount plus CGST and SGST @ 6% each and received a cheque under
2% cash discount.
(xvi) Purchased machinery from New Machinery House for ₹ 50,000 and paid it by means of a bank draft purchased from bank. Paid charges ₹ 500.
ANSWER:
Journal - Class 11th Commerce Notes | EduRev
Journal - Class 11th Commerce Notes | EduRev

Journal - Class 11th Commerce Notes | EduRev
Journal - Class 11th Commerce Notes | EduRev



Page No 8.76:

Question 28: D.Chadha, Delhi commenced business on 1st January, 2019. His transactions for the month are given below. Journalise them. He will close his books on 31st March each year.
Journal - Class 11th Commerce Notes | EduRev
Journal - Class 11th Commerce Notes | EduRev
ANSWER:
Journal - Class 11th Commerce Notes | EduRev
Journal - Class 11th Commerce Notes | EduRev
Journal - Class 11th Commerce Notes | EduRev
Journal - Class 11th Commerce Notes | EduRev


Page No 8.76:

Question 29: Journalise the following transactions in the books of Manoj Store:
(i) Purchased goods from Ramesh ₹ 20,000 less Trade Discount at 20% plus IGST @ 12% .
(ii) Sold goods costing ₹ 7,000 to Krishna for  ₹ 9,000 plus IGST @ 12%.
(iii) Sold goods for ₹ 10,000 and charged IGST @ 12% against cheque.
(iv) ₹ 5,000 were deposited into Savings Account.
(v) Machinery costing ₹ 4,00,000 for which order was placed earlier paying
advance of ₹ 40,000. The balance amount was paid as follows:
(a) An old machine (personal) valued at ₹ 30,000 was given in exchange;
(b) Issued a cheque from his savings account for ₹ 1,30,000; and 
(c) Balance by issue cheque from firm's bank account.
(vi) Paid wages ₹ 2,500 for installation of machine.

ANSWER:
Journal - Class 11th Commerce Notes | EduRev
Journal - Class 11th Commerce Notes | EduRev
NoteAn old machine(personal) given in exchange of Rs 30,000 and cheque of Rs 1,30,000 from Saving A/c will increase the Capital A/c of proprietor.


Page No 8.77:

Question 30: On 1st April, 2019, the position of Rahman was as follows: Cash-in Hand ₹ 11,200; Cash at bank ₹ 2,57,600; Bills Receivable ₹ 68,800; Jai Ram (Dr.) ₹ 16,000; Ram Kumar (Dr.) ₹ 48,080; Office Furniture ₹ 52,800; Stock-in-Trade ₹ 4,16,000; Doulat Ram (Cr.) ₹ 1,74,720, Hari Ram (Cr.) ₹ 2,16,960; Bills Payable ₹ 80,000. What was the amount of capital of Rahman on that date? Pass the Journal entry to Open his books.
ANSWER:
Journal - Class 11th Commerce Notes | EduRevTherefore, the amount of Capital of Rahman on 1st April, 2019 is ₹3,98,800.


Page No 8.77:

Question 31: On 1st April, 2019, the position of Tendulkar was as follows: Stock-in-Hand ₹ 2,88,000; Bills Payable ₹ 48,000; Cash at Bank ₹ 2,16,000; Plant and Machinery ₹ 1,20,000; Debtors ₹ 60,000; Creditors ₹ 96,000; Investment ₹ 2,40,000, Loan from Suresh ₹ 1,80,000. What was the amount of Tendulkar's capital on the date? Pass an opening Journal entry.
ANSWER:
Journal - Class 11th Commerce Notes | EduRevTherefore, the amount of Capital of Tendulkar on 1st April, 2019 is ₹6,00,000.


Page No 8.77:

Question 32: Pass the Opening Entry from the following Balance Sheet as at 31st March, 2019 of Vikas:
Journal - Class 11th Commerce Notes | EduRev
ANSWER:
Journal - Class 11th Commerce Notes | EduRev

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