Ledger (Part - 4) Commerce Notes | EduRev

TS Grewal Solutions - Class 11 Accountancy

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Commerce : Ledger (Part - 4) Commerce Notes | EduRev

The document Ledger (Part - 4) Commerce Notes | EduRev is a part of the Commerce Course TS Grewal Solutions - Class 11 Accountancy.
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Page No 9.29:

Question 10: Shri S. K. Gupta, Chandigarh commenced business on 1st April, 2019 with a capital of ₹ 1,20,000 of which ₹ 60,000 was paid into his Bank Account and balance retained as cash. His other transactions during the month were as follows:
Ledger (Part - 4) Commerce Notes | EduRev
Inter-state transactions are subject to levy of IGST @ 12% and Intra-state transactions are subject to levy of CGST and SGST @ 6% each. GST is not levied on transactions marked with (*). Journalise the above transactions and post them to the Ledger.
ANSWER:
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev


Page No 9.29:

Question 11: Journalise the following transactions in the books of Shri Manoj, Kolkata and prepare Ledger Accounts.
Opening Debit Balances:
Cash in Hand ₹ 15,000; Cash at Bank ₹ 55,000; Stock ₹ 28,000; Debtors ₹ 25,000 (Sunil ₹ 5,000; Abhay ₹ 10,000 and Alok ₹ 10,000); Fixed Assets: Computer and Printer ₹ 50,000; Furniture ₹ 10,000; Delivery Van ₹ 25,000.
Opening Credit Balances:
Bank Loan ₹ 90,000; Salaries Outstanding ₹ 15,000; Creditors ₹ 20,000; Bills Payable ₹ 10,000; Capital ₹ 73,000.
Transactions for the month of April, 2019 were :
(i) Purchased goods from M/s Prabhat Electricals, Delhi ₹ 10,000 less 10% Trade Discount. Cheque was issued immediately and availed 2% Cash Discount on purchase price.
(ii) Cheque was received from Abhay for the balance allowing him discount of 2%*.
(iii) Cheque was received from Alok for the balance due* .
(iv) Sunil was unable to pay the full dues and offered to pay 75%, which was accepted. Cheque was duly received*.
(v) Gave goods costing ₹ 1,000 as charity. These goods were purchased in Kolkata.
(vi) In a competition held by the RWA where the shop is located an electric iron costing ₹ 500 was given as an award. It had been purchased from Prabhat Electricals, Delhi.
(vii) A debt of ₹ 10,000 that was written off as bad debt in the past was received*.
(viii) Salaries amounting to ₹ 15,000 provided in the books for the month of March, 2019 were paid through cheque*.
(ix) Sales for the month were: Cash Sales ₹ 15,00,000 (Intra-state) and Credit Sales ₹ 3,00,000 (Inter-state).
(x) Purchases for the month were: Cash Purchases ₹ 1,00,000 (Intra-state) and Credit Purchases (Inter-state) ₹ 9,00,000.
Cheques Received from Debtors ₹ 2,00,000; Deposited Cash ₹ 15,00,000.
(xi) Paid to creditors through cheques ₹ 8,90,000*.
(xii) Bank Loan repaid during the month ₹ 20,000*.
Inter-state transactions are subject to levy of IGST @ 12% and Intra-state transactions are subject to levy of CGST and SGST @ 6% each. GST is not levied on transactions marked with (*).
ANSWER:
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev
Ledger (Part - 4) Commerce Notes | EduRev

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