Page 61 - ISCDEBK-XI

8.2 Double Entry Book Keeping—ISC XI

Solved Question

Illustration 1.
Prepare the Stationery Account of a firm for the year ended 31st March, 2022, duly balance off,
from the following details:
2021 `
April 1 Stock in Hand 960
July 12 Purchase of stationery by cheque 1,600
Aug. 10 Purchase of stationery on credit from India Stationery Mart 2,500
Aug. 22 Purchase of stationery by cash 500
2022
March 31 Stock in Hand 2,200
Solution:
Dr. STATIONERY ACCOUNT Cr.
Date Particulars ` Date Particulars `
2021 2022
April 1 To Balance b/d 960 March 31 By Profit & Loss A/c 3,360
July 12 To Bank A/c 1,600 (Balancing Figure)
Aug. 10 To India Stationery Mart 2,500 March 31 By Balance c/d 2,200
Aug. 22 To Cash A/c 500
5,560 5,560

Unsolved Question

1. Journalise the following transactions in the books of Shri Ashutosh, a trader. Also, prepare the Ledger Accounts:
Debit Balances on 1st April, 2022:
Cash in Hand ` 8,000; Cash at Bank ` 25,000; Stock of Goods ` 20,000; Furniture ` 2,000; Building ` 10,000;
Sundry Debtors: Vijay ` 2,000; Anil ` 1,000 and Madhu ` 2,000.
Credit Balances on 1st April, 2022:
Sundry Creditors: Anand ` 5,000; Loan from Bablu ` 10,000.
Following were further transactions in the month of April, 2022:
2022
April 2 Purchased goods worth ` 5,000 for cash
Less: 20% trade discount and 5% cash discount
April 4 Received ` 1,980 from Vijay and allowed him ` 20 as discount
April 6 Purchased goods from Bharat ` 5,000
April 8 Purchased plant from Mukesh for ` 5,000 and paid ` 100 as cartage
for bringing the plant to the factory and another ` 200 as installation charges
April 12 Sold goods to Rahim on credit ` 600
April 15 Rahim became insolvent and could pay only 50 paise in a rupee
April 18 Sold goods to Ram for cash ` 1,000
April 20 Paid salary to Ratan ` 2,000
April 21 Paid to Anand ` 4,800 in full settlement
April 26 Interest received from Madhu ` 200
April 28 Paid to Bablu interest on loan ` 500
April 30 Cash sales ` 500
April 30 Withdrew goods from business for personal use ` 200