This page contains the CBSE accountancy class 11 chapter Recording of Transactions – I notes. You can find the questions/answers/solutions for the chapter 3 of CBSE class 11 accountancy in this page. So is the case if you are looking for CBSE class 11 Commerce related topic Recording of Transactions – I
This page contains solutions to journalising numerical questions. If you are looking for answers to the theoretical questions or solutions to accounting equation numerical questions or solutions to posting numerical questions, you can find them at
- Answers to Theoretical Questions
- Accounting Equation Numerical Questions Solutions
- Posting Numerical Questions Solutions
- Tips for Accounting Equation, Journalizing and Posting
Analysis of Transactions – Journalising – Numerical Questions
11. Journalize the following transactions in the books of Himanshu:
2014 | Rs. | |
---|---|---|
Dec.01 | Business started with cash | 75,000 |
Dec.07 | Purchased goods for cash | 10,000 |
Dec.09 | Sold goods to Swati | 5,000 |
Dec.12 | Purchased furniture | 3,000 |
Dec.18 | Cash receieved from Swati In full setlement | 4,000 |
Dec.25 | Paid rent | 1,000 |
Dec.30 | Paid salary | 1,500 |
Date | Particulars | L.F | Debit Amount ₹ |
Credit Amount ₹ |
---|---|---|---|---|
Dec.01 |
Cash A/CDr. To Capital A/C (Being Business started with cash) |
75,000 | 75,000 | |
Dec.07 | Purchase A/CDr. To Cash A/C (Being goods Purchased goods for cash) |
10,000 | 10,000 | |
Dec.09 | Swati A/CDr. To Sales A/C (Being Goods sold to Swati) |
5,000 | 5,000 | |
Dec.12 | Furniture A/CDr. To Cash A/C (Being furniture purchased) |
3,000 | 3,000 | |
Dec.18 | Cash A/C | 4,000 | ||
Discount Allowed A/CDr. To Swati A/C (Being cash received from Swati in full settlement) |
1,000 | 5,000 | ||
Dec.25 | Rent A/CDr. To Cash A/C (Being rent paid) |
1,000 | 1,000 | |
Dec.30 | Salary A/CDr. To Cash (Being salary paid) |
1,500 | 1,500 | |
Total c/f | 1,00,500 | 1,00,500 |
12. Enter the following transactions in the journal of Mudit:
2015 | Rs. | |
---|---|---|
Jan.01 | Commenced business with cash | 1,75,000 |
Jan.01 | Building | 1,00,000 |
Jan.02 | Goods purchased for cash | 75,000 |
Jan.03 | Sold goods to Ramesh | 30,000 |
Jan.04 | Paid wages | 500 |
Jan.06 | Sold goods for cash | 10,000 |
Jan.10 | Paid for trade expenses | 700 |
Jan.12 | Cash received from Ramesh Discount allowed |
29,500 500 |
Jan.14 | Goods purchased from Sudhir | 27,000 |
Jan.18 | Cartage paid | 1,000 |
Jan.20 | Drew cash for personal use | 5,000 |
Jan.22 | Goods use for house hold | 2,000 |
Jan.25 | Cash paid to Sudhir Discount received |
26,700 300 |
Date | Particulars | L.F | Debit Amount ₹ |
Credit Amount ₹ |
---|---|---|---|---|
Jan.01 | Cash A/CDr. | 1,75,000 | ||
Building A/CDr. To Capital A/C (Being Business started with cash and building) |
100,000 | 2,75,000 | ||
Jan.02 | Purchases A/CDr. To Cash A/C (Being goods purchased for cash) |
75,000 | 75,000 | |
Jan.03 | Ramesh A/CDr. To Sales A/C (Being goods sold to Ramesh) |
30,000 | 30,000 | |
Jan.04 | Wages A/CDr. To Cash A/C (Being wages paid) |
500 | 500 | |
Jan.06 | Cash A/CDr. To Sales A/C (Being goods sold for cash) |
10,000 | 10,000 | |
Jan.10 | Trade Expenses A/CDr. To Cash A/C (Being trade expenses paid) |
700 | 700 | |
Jan.12 | Cash A/CDr. | 29,500 | ||
Discount Allowed A/CDr. To Ramesh A/C (Being cash received from Ramesh in full settlement) |
500 | 30,000 | ||
Jan.14 | Purchases A/CDr. To Sudhir A/C (Being goods purchased from Sudhir on credit) |
27,000 | 27,000 | |
Jan.18 | Cartage A/CDr. To Cash A/C (Being cartage paid) |
1,000 | 1,000 | |
Jan.20 | Drawings A/CDr. To Cash A/C (Being cash withdrawn for self) |
5,000 | 5,000 | |
Jan.22 | Drawings A/CDr. To Purchases A/C (Being goods withdrawn for household use) |
2,000 | 2,000 | |
Jan.25 | Sudhir A/CDr. To Discount Received A/c To Cash A/C (Being cash paid to Sudhir and received discount) |
27,000 | 300 26,700 |
|
Total c/f | 4,83,200 | 4,83,200 |
13. Journalize the following transactions:
2014 | Rs. | |
---|---|---|
Dec.01 | Hema started business with cash | 1,00,000 |
Dec.02 | Open a bank account with SBI | 30,000 |
Dec.04 | Purchased goods from Ashu | 20,000 |
Dec.06 | Sold goods to Rahul for cash | 15,000 |
Dec.10 | Bought goods from Tara for cash | 40,000 |
Dec.13 | Sold goods to Suman | 20,000 |
Dec.16 | Received cheque from Suman | 19,500 |
Discount allowed | 500 | |
Dec.20 | Cheque given to Ashu on account | 10,000 |
Dec.22 | Rent paid by cheque | 2,000 |
Dec.23 | Deposited into bank | 16,000 |
Dec.25 | Machine purchased from Parigya | 10,000 |
Dec.26 | Trade expenses | 2,000 |
Dec.28 | Cheque issued to Parigya | 10,000 |
Dec.29 | Paid telephone expenses by cheque | 1,200 |
Dec.31 | Paid salary | 4,500 |
Date | Particulars | L.F | Debit Amount ₹ |
Credit Amount ₹ |
---|---|---|---|---|
Dec.01 | Cash A/CDr. To Capital A/C (Being business started with cash) |
1,00,000 | 1,00,000 | |
Dec.02 | Bank A/CDr. To Cash A/C (Being bank account opened with SBI) |
30,000 | 30,000 | |
Dec.04 | Purchases A/CDr. To Ashu A/C (Being goods purchased from Ashu) |
20,000 | 20,000 | |
Dec.06 | Cash A/CDr. To Sales A/C (Being goods sold to Rahul for cash) |
15,000 | 15,000 | |
Dec.10 | Purchases A/CDr. To Cash A/C (Being goods bought from Tara for cash) |
40,000 | 40,000 | |
Dec.13 | Suman A/CDr. To Sales A/C (Being goods sold to Suman) |
20,000 | 20,000 | |
Dec.16 | Bank A/CDr. | 19,500 | ||
Discount allowed A/CDr. To Suman (Being cheque received from Suman and discount allowed) |
500 | 20,000 | ||
Dec.20 | Ashu A/CDr. To Bank A/C (Being cheque given to Ashu on account) |
10,000 | 10,000 | |
Dec.22 | Rent A/CDr. To Cash A/C (Being rent paid by cheque) |
2,000 | 2,000 | |
Dec.23 | Bank A/CDr. To Cash A/C (Being cash deposited into bank) |
16,000 | 16,000 | |
Dec.25 | Machine A/CDr. To Parigya A/C (Being machine purchased from Parigya) |
10,000 | 10,000 | |
Dec.26 | Trade Expenses A/CDr. To Cash A/C (Being trade expense paid in cash) |
2,000 | 2,000 | |
Dec.28 | Parigya A/CDr. To Bank A/C (Being cheque issued to Parigya) |
10,000 | 10,000 | |
Dec.29 | Telephone expenses A/CDr. To Bank A/C (Being telephone expenses paid by cheque) |
1,200 | 1,200 | |
Dec.31 | Salary A/CDr. To Cash A/C (Being salary paid in cash) |
4,500 | 4,500 | |
Total c/f | 3,00,700 | 3,00,700 |
14. Journalize the following transactions in the books of Harpreet Bros.:
- ₹ 1,000 due from Rohit are now bad debts
- Goods worth ₹ 2,000 were used by the proprietor.
- Charge depreciation @ 10% p.a for two months on machine costing ₹ 30,000
- Provide commission on capital of ₹ 1,50,000 at 6% p.a for 9 months
- Rahul who owed ₹ 2,000 became insolvent. A final dividend of ₹ 60 paise in a rupee is received from his estate.
Date | Particulars | L.F | Debit Amount ₹ |
Credit Amount ₹ |
---|---|---|---|---|
(a) | Bad Debt A/CDr. To Rohit A/C (Amount due from Rohit is now bad debt.) |
1,000 | 1,000 | |
(b) | Drawings A/CDr. To Purchases A/C (Goods drawn by the proprietor) |
2,000 | 2,000 | |
(c) | Depreciation A/CDr. To Machine A/C (Charge depreciation @ 10% p.a for two months on machine costing ₹30,000) |
500 | 500 | |
(d) | Commission A/CDr. To Capital A/C (commission on capital of ₹1,50,000 at 6% p.a for 9 months) |
6,750 | 6,750 | |
(e) | Cash A/CDr. |
1,200 | ||
Bad Debt A/CDr. To Rahul A/C (Rahul who owed ₹ 2,000 became insolvent. A final dividend of 60paise is received from his estate.) |
800 | 2000 | ||
Total c/f | 12,250 | 12,250 |
15. Prepare Journal from the transactions given below:
- Cash paid for installation of machine ₹ 500
- Goods given as charity ₹ 2,000
- Interest charge on capital @7% p.a. when total capital was ₹ 70,000
- Received ₹ 1,200 of a bad debts written-off last year.
- Goods destroyed by fire ₹ 2,000
- Rent outstanding ₹ 1,000
- Interest on drawings ₹ 900
- Sudhir Kumar who owed me ₹ 3,000 has failed to pay the amount. He pays me a compensation of ₹ 45 paise in a rupee.
- Commission received in advance ₹ 7,000
Date | Particulars | L.F | Debit Amount ₹ |
Credit Amount ₹ |
---|---|---|---|---|
(a) | Machine A/CDr. To Cash A/C (Cash paid for installation of machine ₹500) |
500 | 500 | |
(b) | Charity A/CDr. To Purchases A/C (Goods given as charity ₹2,000) |
2,000 | 2,000 | |
(c) | Interest on Capital A/CDr. To Capital A/C (Interest received on capital @7% p.a. when total capital was ₹70,000) |
4,900 | 4,900 | |
(d) | Cash A/CDr. To Bad Debts Recovered A/C (Received ₹1,200 of a bad debts written-off last year) |
1,200 | 1,200 | |
(e) | Loss of Goods A/CDr. To Purchases A/C (Goods destroyed by fire ₹2,000) |
2,000 | 2,000 | |
(f) | Rent A/CDr. To Rent Outstanding A/C (Rent outstanding ₹1,000) |
1,000 | 1,000 | |
(g) | Drawings A/CDr. To Interst on Drawings A/C (Interest on drawings ₹900) |
900 | 900 | |
(h) | Cash A/CDr. | 1,350 | ||
Bad Debt A/CDr. To Sudhir Kumar A/C (Sudhir Kumar who owed me ₹3,000 has failed to pay the amount. He pays me a compensation of ₹ 45 paise in a rupee) |
1,650 | 3,000 | ||
(i) | Cash A/CDr. To Commission in Advance A/C (Commission received in advance ₹7,000) |
7,000 | 7,000 | |
Total c/f | 22,500 | 22,500 |
You might also want to refer the following pages.
- Introduction to Accounting
- Theory Base of Accounting
- Recording of Transactions – I
- Answers to Theoretical Questions
- Accounting Equation Numerical Questions Solutions
- Journalising Numerical Questions Solutions
- Posting Numerical Questions Solutions
- Tips for Accounting Equation, Journalizing and Posting
- Recording of Transactions – II
- Bank Reconciliation Statement