Special Purpose Books II- Other Books(part-2) | TS Grewal Solutions - Class 11 Accountancy - Commerce PDF Download

Page No 11.47:

Question 14: (Closing Entries). Give the necessary entries in the Journal Proper of Ram on 31st March, 2019 to close their books:
Freehold Premises ₹ 30,000; Plant and Machinery ₹ 20,000; Sundry Debtors ₹ 25,000; Purchases ₹ 37,500; Sales ₹ 95,000; Discount (Dr.) ₹ 150; Discount (Cr.) ₹ 175; Sundry Creditors ₹ 12,500; Carriage Inwards ₹ 375; Carriage Outwards ₹ 600; Furniture and Fixtures ₹ 2,500; Wages ₹ 5,000; Bad debts ₹ 750; Salaries ₹ 3,600; Commission (Cr.) ₹ 2,125; Capital Account − ₹ 25,000; Bills Payable ₹ 7,500; Bills Receivable ₹ 9,000; Trade Expenses ₹ 2,550; Ram's Loan Account ₹ 20,000; Cash in Hand ₹ 75; Cash at Bank ₹ 3,125.
ANSWER:

Page No 11.47:

Question 15: (Transfer Entries). Give the Journal entries for the following:
(i) Gross Profit of ₹ 32,000 from Trading Account to Profit and Loss Account.
(ii) Net Profit of ₹ 14,500 to Capital Account of Sri Sankar Saha. 
(iii) Sri Sankar Saha draws ₹ 10,000 from his Capital Account.
(iv) Purchases Return of ₹ 7,000 plus IGST @ 12%.
(v) Sales Return of ₹ 6,000 plus CGST and SGST @ 6% each.
ANSWER:

Page No 11.47:

Question 16: (Adjustment Entries) From the following information available on 31st March, 2019, pass the necessary Adjustment Entries in the Journal for the year ending on that date:
(i) Interest accrued ₹ 2,500.
(ii) Wages for March, 2019 outstanding ₹ 10,000.
(iii) Insurance prepaid ₹ 1,500.
(iv) Commission due to manager 6% on net profit after charging such commission. The profit before charging such commission was ₹ 1,06,000. 
(v) Interest due on loan but not paid. Loan of ₹ 1,50,000 was taken at 9% p.a. 9 months before end of the year.
ANSWER:

Page No 11.48:

Question 17: Enter the following transactions in proper Subsidiary Books of Ram, Lucknow (UP) for the month of January 2019

ANSWER:

Page No 11.48:

Question 18: Write up Purchases and Sales Books from the following transactions of Kalyan Silks, Kochi, Kerala given for April, 2019 and post the totals in the Ledger.

ANSWER:

Page No 11.49:

Question 19: Record the following transactions of Prabhat Electric Co., Delhi in the proper subsidiary books:

ANSWER:

Page No 11.49:

Question 20: R. Chetan, Kolkata has the following balances in his books on 1st March, 2019:
Cash ₹ 15,400; Cash at Bank ₹ 82,500; Stock ₹ 1,92,500; Plant and Machinery ₹ 4,40,000.
Sundry Debtors: Rajesh ₹ 27,500; James ₹ 13,750.
Sundry Creditors: Rao ₹ 19,250, Samanta; ₹ 35,750; Capital ₹ 7,16,650.
The following are the transactions for the month of March 2019:

Transactions marked with (*) are intra-state transactions subject to CGST and SGST @ 6% each. Transactions marked with (**) are inter-state transactions subject to IGST @ 12%.

Record these transactions in his subsidiary books, post to the Ledger and prepare a Trial Balance as on 31st March, 2019.
ANSWER: