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Ledger - 2 | Accountancy Class 11 - Commerce PDF Download
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Page 1
Q.5 Journalise the following transactions in the Journal of M/s. Gupta Brothers (Prop. Shri R. K. Gupta),
Delhi and post them to the Ledger:
2019 ?
March 1 Started business with cash 2,00,000
March 2 Opened bank account with SBI 80,000
March 4 Goods purchased from Raj, Jaipur (Rajasthan) 22,000
March 5 Goods purchased for cash 30,000
March 8 Goods sold to Naman, Delhi 12,000
March 10 Cash paid to Raj 22,000
March 15 Cash received from Naman 11,700
Discount allowed 300
March 16 Paid wages 200
March 18 Furniture purchased for office use 5,000
March 20 Withdrawn from bank for personal use 4,000
March 22 Issued cheque for rent 3,000
March 23
Goods taken for household purpose. These goods were purchased
from Raj
2,000
March 24 Drawn cash from bank for office use 6,000
March 26 Commission received 1,000
March 27 Bank charges 300
March 28 Cheque issued for life insurance premium of Proprietor 3,000
March 29 Paid salary 10,000
March 30 Cash sales 20,000
Page 2
Q.5 Journalise the following transactions in the Journal of M/s. Gupta Brothers (Prop. Shri R. K. Gupta),
Delhi and post them to the Ledger:
2019 ?
March 1 Started business with cash 2,00,000
March 2 Opened bank account with SBI 80,000
March 4 Goods purchased from Raj, Jaipur (Rajasthan) 22,000
March 5 Goods purchased for cash 30,000
March 8 Goods sold to Naman, Delhi 12,000
March 10 Cash paid to Raj 22,000
March 15 Cash received from Naman 11,700
Discount allowed 300
March 16 Paid wages 200
March 18 Furniture purchased for office use 5,000
March 20 Withdrawn from bank for personal use 4,000
March 22 Issued cheque for rent 3,000
March 23
Goods taken for household purpose. These goods were purchased
from Raj
2,000
March 24 Drawn cash from bank for office use 6,000
March 26 Commission received 1,000
March 27 Bank charges 300
March 28 Cheque issued for life insurance premium of Proprietor 3,000
March 29 Paid salary 10,000
March 30 Cash sales 20,000
Page 3
Q.5 Journalise the following transactions in the Journal of M/s. Gupta Brothers (Prop. Shri R. K. Gupta),
Delhi and post them to the Ledger:
2019 ?
March 1 Started business with cash 2,00,000
March 2 Opened bank account with SBI 80,000
March 4 Goods purchased from Raj, Jaipur (Rajasthan) 22,000
March 5 Goods purchased for cash 30,000
March 8 Goods sold to Naman, Delhi 12,000
March 10 Cash paid to Raj 22,000
March 15 Cash received from Naman 11,700
Discount allowed 300
March 16 Paid wages 200
March 18 Furniture purchased for office use 5,000
March 20 Withdrawn from bank for personal use 4,000
March 22 Issued cheque for rent 3,000
March 23
Goods taken for household purpose. These goods were purchased
from Raj
2,000
March 24 Drawn cash from bank for office use 6,000
March 26 Commission received 1,000
March 27 Bank charges 300
March 28 Cheque issued for life insurance premium of Proprietor 3,000
March 29 Paid salary 10,000
March 30 Cash sales 20,000
Page 4
Q.5 Journalise the following transactions in the Journal of M/s. Gupta Brothers (Prop. Shri R. K. Gupta),
Delhi and post them to the Ledger:
2019 ?
March 1 Started business with cash 2,00,000
March 2 Opened bank account with SBI 80,000
March 4 Goods purchased from Raj, Jaipur (Rajasthan) 22,000
March 5 Goods purchased for cash 30,000
March 8 Goods sold to Naman, Delhi 12,000
March 10 Cash paid to Raj 22,000
March 15 Cash received from Naman 11,700
Discount allowed 300
March 16 Paid wages 200
March 18 Furniture purchased for office use 5,000
March 20 Withdrawn from bank for personal use 4,000
March 22 Issued cheque for rent 3,000
March 23
Goods taken for household purpose. These goods were purchased
from Raj
2,000
March 24 Drawn cash from bank for office use 6,000
March 26 Commission received 1,000
March 27 Bank charges 300
March 28 Cheque issued for life insurance premium of Proprietor 3,000
March 29 Paid salary 10,000
March 30 Cash sales 20,000
Page 5
Q.5 Journalise the following transactions in the Journal of M/s. Gupta Brothers (Prop. Shri R. K. Gupta),
Delhi and post them to the Ledger:
2019 ?
March 1 Started business with cash 2,00,000
March 2 Opened bank account with SBI 80,000
March 4 Goods purchased from Raj, Jaipur (Rajasthan) 22,000
March 5 Goods purchased for cash 30,000
March 8 Goods sold to Naman, Delhi 12,000
March 10 Cash paid to Raj 22,000
March 15 Cash received from Naman 11,700
Discount allowed 300
March 16 Paid wages 200
March 18 Furniture purchased for office use 5,000
March 20 Withdrawn from bank for personal use 4,000
March 22 Issued cheque for rent 3,000
March 23
Goods taken for household purpose. These goods were purchased
from Raj
2,000
March 24 Drawn cash from bank for office use 6,000
March 26 Commission received 1,000
March 27 Bank charges 300
March 28 Cheque issued for life insurance premium of Proprietor 3,000
March 29 Paid salary 10,000
March 30 Cash sales 20,000
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FAQs on Ledger - 2 - Accountancy Class 11 - Commerce
| 1. What is a ledger in commerce? |  |
Ans. A ledger in commerce is a comprehensive record of financial transactions that occur over a specific period. It is an essential tool for businesses to track income, expenses, assets, and liabilities. Ledgers can be maintained in physical books or electronically and often include details such as transaction dates, descriptions, amounts, and account balances.
| 2. How do businesses use ledgers for accounting? | |
Ans. Businesses use ledgers to organize their financial information systematically. Each transaction is recorded in the appropriate accounts in the ledger, which helps in preparing financial statements like the balance sheet and income statement. This process aids in monitoring financial health, ensuring compliance with regulations, and making informed business decisions.
| 3. What are the different types of ledgers used in accounting? | |
Ans. There are several types of ledgers used in accounting, including the general ledger, sales ledger, purchase ledger, and payroll ledger. The general ledger encompasses all financial transactions, while the sales ledger records customer transactions, the purchase ledger tracks supplier transactions, and the payroll ledger manages employee compensation and deductions.
| 4. What is the difference between a ledger and a journal in accounting? | |
Ans. The primary difference between a ledger and a journal lies in their function within the accounting process. A journal is the initial record where financial transactions are first documented chronologically, while a ledger organizes those transactions into specific accounts. Thus, the ledger provides a clearer view of account balances and financial status.
| 5. Why is it important to maintain accurate ledgers in commerce? | |
Ans. Maintaining accurate ledgers is crucial for several reasons. It ensures compliance with financial regulations, provides reliable data for decision-making, helps in detecting errors or fraud, and facilitates effective financial reporting. Accurate ledgers also support businesses in planning and forecasting future financial performance.
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Sep 30, 2025
Last updated
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