14(A). Following balances appeared in the books of Radhika Traders as on 1st April, 2023:
Assets: Cash ₹8,000; Cash at Bank ₹7,000; Stock ₹30,000; Debtors : ₹36,000 (Mohan ₹10,000; Sohan ₹12,000; Dinesh ₹14,000); Furniture ₹5,000; Building ₹25,000.
Liabilities: Creditors X ₹5,000; Y ₹6,000.
| 2023 | ₹ | |
|---|---|---|
| April 2 | Bought goods of the list price of ₹6,000 from Khanna Brothers less 15% trade discount and 2% cash discount and paid 40% price at the same time. | |
| 3 | Received a draft from Mohan in full settlement and deposited it into Bank | 9,750 |
| 5 | Purchased goods from Suresh of the list price of ₹8,000 at 20% trade discount and paid him by cheque. | |
| 8 | Sold goods and received a cheque | 25,000 |
| 10 | Deposited the above cheque into Bank | |
| 12 | Sohan deposited in our Bank A/c | 4,000 |
| 16 | Paid Income Tax by Cheque | 5,600 |
| 20 | Received a cheque from Sohan and sent to Bank | 7,800 |
| Discount allowed | 200 | |
| 21 | Withdrew from Bank for office | 2,000 |
| for private use | 4,000 | |
| 23 | Sent a cheque to X in full settlement of his A/c | 4,900 |
| 27 | Cheque of Sohan returned by the bank as dishonoured. | |
| 28 | Dinesh was declared insolvent and a payment of 60 paise in a received from his estate by a Cheque | |
| 30 | Bank allowed Interest | 350 |
| Paid for Rent by cheque | 1,500 | |
| Paid for travelling expenses by cheque | 500 |
Pass Journal entries for the above transactions.
D.K.Goel/2024 Edition/Practical Questions/Q-14 A
14 (B). Following was the position of Harish & Co. as on 1st April, 2023:
Cash in Hand ₹10,000; Cash at Bank ₹16,800; Furniture ₹8,000; Stock ₹50,000;
Debtors Ram ₹8,000; Shyam ₹12,000; Creditors– Anil ₹4,000; Sunil ₹5,000.
Following transactions took place during April, 2023
| 2023 | |
|---|---|
| April 2 | Received a cheque from Ram in full settlement of his account after deducting 5% cash discount. |
| 4 | Deposited the above cheque into Bank. |
| 5 | Goods purchased for ₹20,000 at 10% trade discount and 5% cash discount. Payment made by cheque. |
| 6 | Received a cheque from Shyam for ₹3,860 and discount allowed to him ₹140. Cheque deposited into the bank on the same day. |
| 10 | Cash paid to Anil after deducting 2% cash discount. |
| 15 | Old furniture sold for ₹800. |
| 16 | Sold goods to Shiv Parshad of the list price of ₹10,000 at a trade discount of 15%. |
| 18 | Shiv Parshad returned goods of the list price of ₹1,000. |
| 20 | Paid for furniture repairs to Bahadur Singh ₹100. |
| 25 | Received a cheque from Shiv Parshad after deducting 4% cash discount. Cheque was deposited into bank. |
| 28 | Bank charged ₹50 for Bank Charges'. |
| 30 | Received Commission 200. |
D.K.Goel/2024 Edition/Practical Questions/Q-14 B
For full question, please refer to the text book Accountancy Class-XI by Mr. D.K.Goel published by Avichal Publishing Company