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Question 18 Chapter 6 – Unimax Publications of Class 11

Question 18 Chapter 6 – Unimax Publications of Class 11

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Question 18 Chapter 6 – Unimax Publications of Class 11

18. Varun commenced business with cash ₹10,000 and goods ₹7,000 on 1st August,2023. His transactions for the month of August were as under

2023 
Aug.1Paid salaries for cheque 2,500
Aug.2Bought goods from Mohan Das for cash 3,000
Aug.5Sold to Jawahar Lal on credit
Aug.8Sold to Ballabh Bhai & Co. 4,000
AUG.12Received cash from Jawahar Lal & Co. 5,350
AUG.12Allowed discount 50
Aug.14Bought from Azad Bros 6,450.
Aug.18Purchases furniture 400
Aug.20Safe purchases from Bhatia safe works 350
Aug.24Paid Azad Bros. 6350
Aug.24Discount received 75
Aug.25Cash sales 5,000
Aug.26Goods returned by Ballabh Bhat & Co. 270
Aug.27Paid to Bhatia safe works 300
Aug.29Goods purchases from Goving & Sons 225
Aug.30Goods returned to Goving & Sons
Aug.31Paid general expenses 41
Aug.31Paid salaries 210
Aug.31Paid shop rent 40

Journalise the above transactions and post them into the ledger.

The solution of Question 18 Chapter 6 – Unimax Publications of Class 11:

JOURNAL

DateParticularsL.F.DebitCredit
2020     
Aug.1Cash A/cDr. 10,000 
 Stock A/cDr. 7,000 
 To Capital A/c   17,000
 (Being commenced business)    
      
Aug.2
Purchases A/c
Dr. 3,000 
 To Mohan DasA/c   3,000
 (Being purchases goods from Mohan Das)    
      
Aug.5Jawahar Lal A/cDr. 5,400 
 To Sales A/c   5,400
 (Being sold goods to Jawahar Lal on credit)    
      
Aug.8Ballabh Bhai & Co. A/cDr. 4,000 
 To sales A/c   4,000
 (Being sold to Ballah Bhai & Co.)    
      
Aug.12Cash A/cDr. 5350 
 Discount A/c  50 
 To Jawahar Lal A/c   5,400
 (Being received cash from discount allowed)    
      
Aug.14Purchases A/cDr. 6,450 
 To Azad Bros. A/c   6,450
 (Being goods purchases from Azad &Bros.)    
      
Aug.18Furniture A/cDr. 400 
 To cash A/cDr.  400
 (Being furniture purchases)    
      
AUG 20Safe A/cDr. 350 
 To Bhatia safe works A/c   350
 (being safe purchases)    
      
Aug.24Azad Bros. A/cDr. 6450 
 To cash A/c   6,375
 To discount A/c   75
 (Being paid to Azad Bros. and discount received)    
    5,000 
Aug.25Cash A/cDr.   
 To Sales A/c   5,000
 (Being cash sales)    
      
Aug.26Returns inward A/cDr. 270 
 To Ballabh Bhai & Co. A/c   270
 (Being goods returned by Ballabh & Co.)    
      
Aug.27Bhatia safe works A/cDr. 500 
        To cash A/c   500
 (Being paid to Bhatia safe works)    
      
Aug.29Purchase A/cDr. 225 
 To Goving & sons A/c   225
 (Being goods purchase from Goving & sons)    
      
Aug.30Goving & Sons A/cDr. 225 
 To Return outward A/c   225
 (Being goods return to Goving & Sons)    
    41 
Aug.31General expenses A/cDr.  41
 To Cash A/c    
 (Being paid for general expenses)    
      
Aug.31Salaries A/cDr. 210 
 To cash A/c   210
 (Being salaries paid)    
      
Aug.31Rent A/cDr. 40 
 To Cash A/c   40
 (Being shop rent paid)    
     

LEDGER :

CASH ACCOUNT

DateParticularsAmountDateParticularsAmount
2023  2023  
Aug. 1To Capital A/c10,000Aug.18By Furniture A/c400
Aug.12To Jawahar Lal A/c5,350Aug.24By Azad Bros. A/c6,375
Aug.25To sales A/c5,000Aug.27By Bhatia safe works A/c300
   Aug.31By General expenses A/c41
   Aug.31By Salaries A/c210
   Aug.31By Rent A/c40
      

STOCK   ACCOUNT

DateParticularsAmountDateParticularsAmount
2023     
Aug.1To Capital A/c7,000   

CAPITAL ACCOUNT

DateParticularsAmountDateParticularsAmount
   2023  
   Aug.1By Cash A/c10,000
   Aug.1By Stock7,000
      

PURCHASES ACCOUNT

DateParticularsAmountDateParticularsAmount
2023     
Aug.2To Mohan DasA/c3,000   
Aug.14To Azad Bros. A/c6,450   
Aug.29To Goving & Sons A/c225   

JAWAHAR LAL ACCOUNT 

DateParticularsAmountDateParticularsAmount
2023  2023  
Aug.5To sale A/c5,400Aug.12By cash A/c5,350
   Aug.12By discount allowed A/c50
      

MOHAN  DAS ACCOUNT 

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DateParticularsAmountDateParticularsAmount
   2023  
   Aug. 2By Purchases A/c3,000
      

SALES ACCOUNT 

DateParticularsAmountDateParticularsAmount
   2023  
   Aug.5By Jawahar Lal A/c5,400
   Aug.8By Ballabh Bhai & Co. A/c4,000
   Aug.25By Cash A/c5,000
      

                                                                              DISCOUNT ACCOUNT 

DateParticularsAmountDateParticularsAmount
2023   2023  
   Aug.24By Azad Bros. A/c75
Aug.12TO JAWARLAL50   
      

BALLABH BHAI  ACCOUNT 

DateParticularsAmountDateParticularsAmount
2023  2023  
Aug.8To Sales A/c4,000Aug.26By Return inward A/c200
      
      

 AZAD BROS  ACCOUNT 

DateParticularsAmountDateParticularsAmount
2023  2023  
Aug.24To Cash A/c6375Jan.31By Purchases A/c6450
feb.1To Discount A/c75   
      
  6450  6450

 FURNITURE ACCOUNT 

DateParticularsAmountDateParticularsAmount
2023     
Aug. 18To Cash A/c400   
      

SAFE ACCOUNT 

DateParticularsAmountDateParticularsAmount
2023     
Aug. 20To Bhatia safe works A/c350   
      

Bhatia safe works A/c

DateParticularsAmountDateParticularsAmount
2023  2023  
Aug. 20To Cash A/c350Aug. 20By Safe A/c350
      

Return Inwards A/c

DateParticularsAmountDateParticularsAmount
2023     
Aug. 20To Bailabh Bhai & Co. A/c270   
      

Govind & Sons A/c

DateParticularsAmountDateParticularsAmount
2023     
Aug. 29To Purchases A/c225Aug. 29By Purchases A/c225
Aug. 30To Return Outwards225   

General Expenses A/c

DateParticularsAmountDateParticularsAmount
2023     
Aug. 31To Cash A/c41   
      

Salaries A/c

DateParticularsAmountDateParticularsAmount
2023     
Aug. 31To Cash A/c210   
      

Rent A/c

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DateParticularsAmountDateParticularsAmount
2023     
Aug. 31To Cash A/c40   
      

End of Solution


Check Out the Solution of all questions for this chapter:

The solutions to all questions of Chapter No. 6 – Ledger Unimax – Class 11 are shown as follows, click on the image of the question to get the solution.

1. Comprehensive Solutions for All Chapters of Advanced Accountancy I Class 11 by Unimax

UnimaxSolutions.in offers a comprehensive solution for students studying Advanced Accountancy I Part 1 in Class 11. With their meticulously curated study material, students can access comprehensive solutions to all the questions included within each chapter. By selecting the chapter name from the study material, students can easily navigate through the topics and find detailed explanations and step-by-step solutions to the problems presented in that section. Whether it’s understanding complex accounting concepts, mastering calculation techniques, or analyzing financial statements, Unimax provides a valuable resource to aid students in their learning journey. With these comprehensive solutions at their disposal, students can enhance their understanding, clarify doubts, and improve their problem-solving skills in Advanced Accountancy, ensuring they are well-prepared for their Class 11 examinations.

2. Punjab School Education Board (PSEB) Solutions of Usha Publication.

If you’re a student enrolled in the Punjab School Education Board Class 11, it’s essential to explore a wide range of books to cover the syllabus thoroughly. While the prescribed textbooks are undoubtedly valuable, supplementing your studies with additional resources can enhance your understanding and knowledge. Consider checking out other books that align with the curriculum, offering different perspectives and insights on the subjects you’re studying. These supplementary materials can provide you with alternative explanations, practice questions, and examples that may aid in clarifying complex concepts. Moreover, exploring diverse sources can expose you to a variety of writing styles and viewpoints, fostering a broader understanding of the subjects. So, seize the opportunity to expand your learning by delving into other books that can complement your studies and contribute to your academic growth.

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