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Question 44 Chapter 4 – Unimax Publications of Class 11
44. Journalise the following transactions in the books of Rajat.
2021
March 1 Rajat started his business with Rs. 1,50,000 borrowed from his friend Sahil @ 10% p.a.
March 5 Purchased goods for Rs. 16,000
March 14 Received invoice from Varun and Sons and supplied these goods to Ankush listed Rs. 10,000
March 20 Ankush is declared insolvent and the amount 40 paise per rupee is received from him in full settlement.
March 24 Purchased goods for Rs. 1000 from Chadha and supplied it to Wadhva for Rs. 140 Wadhva returned goods worth Rs. 560 which in turn returned to Chadha.
March 26 Supplied goods for Rs. 600 to Raja for domestic use.
March 31 Rs. 1200 were paid to Rajeev, out of business funds for the repair of Rajat’s residential House.
The solution of Question 44 Chapter 4 – Unimax Publications of Class 11:
JOURNAL OF RAJAT
| Date | Particulars | L.F. | Debit | Credit | |
| 2021 | |||||
| Mar. 1 | Cash A/c | Dr. | 1,50,000 | ||
| To Sahil’s Loan A/c | 1,50,000 | ||||
| (Being business started by cash borrowed from friend Sahil 10% p.a.) | |||||
| Mar. 5 | Purchases A/c | Dr. | 16,000 | ||
| To Cash A/c | 16,000 | ||||
| (Being goods purchased) | |||||
| Mar. 14 | Purchases A/c | Dr. | 10,000 | ||
| To Varun & Sons A/c | 10,000 | ||||
| (Being goods purchased from Varun & Sons) | |||||
| Mar. 14 | Purchases A/c | Dr. | 10,000 | ||
| To Sales A/c | 10,000 | ||||
| (Being goods sold to Ankush) | |||||
| Mar. 20 | Cash A/c | Dr. | 4,000 | ||
| Bad debts A/c | Dr. | 6,000 | |||
| To Ankush’s A/c | 10,000 | ||||
| (Being Ankush declared insolvent and 40% amount Received on insolvency) | |||||
| Mar. 24 | Purchases A/c | Dr. | 1,000 | ||
| To Chadha’s A/c | 1,000 | ||||
| (Being goods purchased from Chadha) | |||||
| Mar. 24 | Wadhwa’s A/c | Dr. | 1,400 | ||
| To Sales A/c | 1,400 | ||||
| (Being goods sold to Wadhva) | |||||
| Mar. 24 | Sales returns A/c | Dr. | 560 | ||
| To Wadhwa’s A/c | 560 | ||||
| (Being goods returned by Wadhva) | |||||
| Mar. 24 | Chadha’s A/c | Dr. | 400 | ||
| To Purchases returns A/c | 400 | ||||
| (Being goods returned by Wadhva returned to Chadha) | |||||
| Mar. 26 | Drawings A/c | Dr. | 600 | ||
| To Purchases returns A/c | 600 | ||||
| (Being goods purchased used for domestic use by 600 Proprietor) | |||||
| Mar. 31 | Drawings A/c | Dr. | 1,200 | ||
| To Cash A/c | 1,200 | ||||
| (Being cash paid by proprietor for construction of his 1,200 Residential house) | |||||
Working Note:
| (i) Percentage of sales returns by Wadhva = | 560 | x 100 | = 40% |
| 1400 | |||
| (ii) Purchases returns to Chadha = | 40 % of 1,000 | ||
| 40 | X 1000 | = Rs. 400 | |
| 100 | |||
End of Solution
Check Out the Solution of all questions for this chapter:
The solutions to all questions of Chapter No. 4 – Journal Unimax – Class 11 are shown as follows, click on the image of the question to get the solution.
Question 5a Chapter 4 – Unimax Publications of Class 11
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Question 13 Chapter 4 – Unimax Publications of Class 11
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Question 24 Chapter 4 – Unimax Publications of Class 11
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Question 36 Chapter 4 – Unimax Publications of Class 11
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Question 48 Chapter 4 – Unimax Publications of Class 11
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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.
- Chapter No. 1 – Introduction of Accounting
- Chapter No. 2 – Theory Base of Accounting
- Chapter No. 3 – Vouchers and Transactions
- Chapter No. 4 – Journal
- Chapter No. 5 – Goods and Services Tax (GST): An Introduction
- Chapter No. 6 – Ledger
- Chapter No. 7 – Special Purpose Book – Cash Book
- Chapter No. 8 – Other Subsidiary Books
- Chapter No. 9 – Trial Balance
- Chapter No. 10 – Rectification of Errors
- Chapter No. 11 – Depreciation
- Chapter No. 12 – Provision and Reserves
- Chapter No. 13 – Bank Reconciliation Statement
- Chapter No. 14 – Bills of Exchange
- Chapter No. 15 – Financial Statements (Without Adjustments)
- Chapter No. 16 – Financial Statements (With Adjustments)
- Chapter No. 17 – Accounts from Incomplete Records – Single Entry System
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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