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9.2                                                    Double Entry Book Keeping—CBSE XI


                                                   Solved Questions

                      1.  From the following transactions of M/s. Wise & Active, write up the Journal in
                        proper form, post the Ledger and prepare a Trial Balance:
                     2024                                                                          `
                     Jan.  1  Assets: Cash in Hand ` 200; Cash at Bank ` 6,800; Stocks of Goods ` 4,000;
                             Machinery ` 10,000; Furniture ` 1,000; M/s. Narain Bros. owe ` 1,500;
                             M/s. B.K. Bros. owe ` 2,500. Liabilities: Bank Loan ` 5,000; sum owing to Jacob Bros. Ltd., ` 2,000
                     Jan.   2  Bought goods on credit from Samuel & Co.                             1,000
                     Jan.   3  Sold goods for cash to Dhiraj & Co.                                   400
                     Jan.   4  Sold goods to Narain Bros. on credit                                 1,000
                     Jan.   5  Received from Narain Bros. in full settlement of amount due on January 1   1,450
                     Jan.   6  Payment made to Jacob Bros. Ltd. by cheque;                           975
                             they allowed discount                                                    25
                     Jan.   9  Old furniture sold for cash                                           100
                     Jan.   10  Bought goods for cash                                                750
                     Jan.   11  B.K. Bros. paid by cheque; cheque deposited in the bank             2,500
                             Paid for repairs of machinery                                           100
                     Jan.   13  Bought goods from Jacob Bros. Ltd.                                  1,000
                             Paid cartage on these goods                                              50
                     Jan.   16  Received cheque from Narain Bros. and the cheque deposited in bank   950
                             Discount allowed to them                                                 50
                     Jan.   17  Paid cheque to Jacob Bros. Ltd.                                     1,000
                     Jan.   18  Bank intimates that cheque of Narain Bros. has been returned unpaid
                     Jan.   19  Sold goods for cash to Kay Bros.                                     600
                     Jan.   21  Cash deposited in bank                                               500
                     Jan.   24  Paid Municipal Taxes in cash                                         100
                     Jan.   25  Borrowed from Urania Ltd. for erecting own premises. Money
                             deposited with bank for the time being                                10,000
                     Jan.   27  Old newspapers sold                                                   20
                     Jan.   28  Paid for advertisements                                              100
                     Jan.   31  Paid rent by cheque                                                  150
                     Jan.   31  Paid salaries for the month                                          300
                     Jan.   31  Drew out of bank for personal use                                    250
                     Jan.   31  Narain Bros. becomes insolvent, a dividend of 50 paise in the rupee is received
                     Jan.   31  An old amount written off as bad debt during last year is recovered   150
                     Solution:                   In the Books of M/s. Wise & Active
                                                           JOURNAL
                     Date     Particulars                                          L.F.   Dr. (`)   Cr. (`)
                     2024
                     Jan.   1  Cash A/c                                       ...Dr.   2    200
                             Bank A/c                                         ...Dr.   3   6,800
                             Stock A/c                                        ...Dr.   4   4,000
                             Machinery A/c                                    ...Dr.   5   10,000
                             Furniture A/c                                    ...Dr.   6   1,000
                             Narain Bros.                                     ...Dr.   7   1,500
                             B.K. Bros.                                       ...Dr.   8   2,500
                                To  Bank Loan A/c                                   9               5,000
                                To  Jacob Bros. Ltd.                               10               2,000
                                To  Capital A/c                                     1              19,000
                             (Assets and liabilities brought forward from last year, capital found by
                             deducting liabilities from assets, i.e., ` 19,000 = ` 26,000 – ` 7,000)
                     Jan.   2  Purchases A/c                                  ...Dr.   4   1,000
                                To  Samuel & Co.                                    11              1,000
                             (Goods purchased from Samuel & Co. as per their bill No. .... dated....)
                                                           Total c/f                      27,000   27,000
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