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8.16                                                   Double Entry Book Keeping—CBSE XI


                     March  11  Mohan Bros.                                  ...Dr.       7,000
                                To  Bank A/c                                                        6,700
                                To  Discount Received A/c                                            300
                             (Payment made by cheque and discount received)
                     March  13  Cash A/c                                     ...Dr.       1,000
                                To  Advance from Mahesh A/c                                         1,000
                             (Cash received from Mahesh as advance)
                     March  15  Bank A/c                                     ...Dr.         400
                                To  Interest A/c                                                     400
                             (Interest received from bank)
                     March  20  Goyal Bros.                                  ...Dr.       6,000
                                To  Bank A/c                                                        6,000
                             (Cheque received from Goyal Bros. dishonoured)
                     March  22  Rent A/c                                     ...Dr.       6,000
                                To  Bank A/c                                                        6,000
                             (Rent paid by cheque)

                     March  23  Salaries A/c                                 ...Dr.       30,000
                                To  Outstanding  Salaries A/c                                      30,000
                             (Salaries for the month of February unpaid)
                     Note:  No entry will be passed for receipt of an order of goods from Mahesh on 13th March, 2024, because it is
                          not a transaction. Only advance received will be recorded.
                      7. Journalise the following transactions in the books of Gaurav, Delhi:
                     Balances as on 1st April, 2024
                     Debit Balances: Cash in Hand—` 18,000; Cash at Bank—` 25,600; Stock of Goods—
                                     ` 50,000; Furniture—` 10,000; Building—` 4,51,400.
                     Debtors:  Vijay—` 2,700; Anil—` 1,500; Ashwani—` 2,000; Anupam—` 1,800; and
                              Madhu—` 5,000.
                     Credit Balances:  Creditors:  Anand—` 5,400; Arya & Co.—` 77,000; Balwant—
                                      ` 52,000; and Anita’s Loan—` 1,00,000.

                     2024
                     April   1  Purchased from Rahul Traders, Faridabad goods of ` 50,000 less 20% trade discount and 5% cash discount.
                     April  3  ` 2,646 received from Vijay and allowed him discount ` 54.
                     April   8  Goods costing ` 5,000 purchased from Kolkata were damaged in transit; a claim was made on the transporter.
                     April  10  Cash ` 5,292 paid to Anand and discount allowed by him ` 108.
                     April  13  Received by cheque in full settlement of claim for damages in transit.
                     April  15  Anupam is declared insolvent and a dividend of 50 paise in the rupee is received from him in full settlement.
                     April  22  Paid for:  Donation ` 501
                                    Postage  ` 200
                     April  30  One month’s interest on Anita’s Loan @ 12% p.a. became due but was not paid.
                     April  30  Received amount from salesman for goods sold by him for ` 5,000 after deducting his travelling expenses
                             ` 150.
                     April  30  Sold goods for ` 12,000 less 10% trade discount.
                     April  30  New furniture was purchased for ` 50,000 from M/s. Rohan Furnitures. The existing furniture was given
                             in exchange valued at ` 5,000 (Book Value Nil).
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