1st Puc Accountancy Unit 4 Recording Of Transaction – II Notes | ಪ್ರಥಮ ಪಿಯುಸಿ ಲೆಕ್ಕಶಾಸ್ತ್ರ ಅಧ್ಯಾಯ – 4 ನೋಟ್ಸ್

1st puc accountancy chapter 4 Recording Of Transaction – II Notes Question Answer Pdf Download Accountancy Class 11 Chapter 4 Solutions 1st Accountancy Chapter 4 Exercise Solutions Recording Of Transactions 2 Solutions Recording Of Transactions 2 Notes 1st Puc Accountancy 4 Lesson Notes ಪ್ರಥಮ ಪಿಯುಸಿ ಲೆಕ್ಕಶಾಸ್ತ್ರ ಅಧ್ಯಾಯ – 4 ನೋಟ್ಸ್

 

1st Puc Accountancy Chapter 4 Notes

One Mark Qs

Q1. What is journal proper?

A: The journal proper is used for recording only those transactions which cannot
be recorded in any of the other subsidiary books.

Q2. Mention any two transactions which recorded in journal proper

A: Opening entries

Closing entries.

Q3. Write the opening entries meaning.

A: When a newly business commenced a trade record the assets liabilities brought in called opening entries.

Q4. What is closing entris in journal proper?

A: At the end of accounting year all nominal a/c are transferred to trading and profit or Loss a/c, such transferring entries called closing entries.

Q5. What is transfer entry?

A: Transfer entry is passed when an amount of one account is to be taken to some other account.

Q6. Give examples for closing entries.

A: Example for transferring entries are, Building closing balance, closing stock etc.

• Transfer of total rent during the year to profit and loss a/c
• Transfer of total wages to trading account.
• Transfer of purchases by closing to trading account.

Q7. Write the entries for purchase return transfer to purchases.

A: Purchase return a/c Dr.

To purchases account

Q8. What is cash book?

A: Cash Book is a book of original entry book. It is a type of subsidiary book. It is
maintained by business for recording cash cena payments during the year.

Q9. What is simple column cash book?

A: cash book which contains only one amount colum called simple column cash book or single column cash book.

Q10. What is three — column Cash book?

Three column cash book is a cash book which contains cash column, bank and discount column all cash bank & Discount related transactions are recorded.

Q11. What is two column cash book?

A: The cash book which contains of discount column and cash column called two
column cash book or cash book with cash and discount.

Q12. What are contra entries?

A: A single transaction entering both the side of three calumn cash book called
contra entries.

Q13. What is cash discount?

Cash discount is an allowances or deductions made from the amount due. It is allowed by creditor to debtors

Q14. What is trade discount?

Trade discount is a reduction in the catalogue price or invoice price of the goods sold.

Q15. Write the specimen of single column cash book.

Dr. Simple/single column cash book Cr.

Date	Particular	R.No	LF	Amount	Date	Particular	V.No	LF	Amount

Q16. Write the specimen of double column cash book.

A: Dr Double column /cash book with cash and discount book Cr.

Date	Parti culars	R. No	L F	Dis count	Cash	Date	Parti culars	V. No	L F	Dis count	Cash

Q17. Write the specimen of triple column cash book or cash book with Discount and bank.

A: Dr Tripel/three/cash book with cash discount and book column Cr

Date	Parti culars	R. No	L F	Dis count	Bank	Amount	Date	Parti culars	V. No	L F	Dis count	Bank	Amount

Q18. Give two examples for contra entries.

A: Example for contra entries are :

1. Cash deposted into bank
2. Cash withdraw for office use.

Q19. How do you treat cash received 9000 in full settlement against amount due of
X 10000.

A: An amount received Rs. 9000 recorded in cash column and Rs 1000 recorded in discount column on debit side of double /Triple column cash book.

Q20. Why cash account will always show a debit balance

A: Generaly we can spend equivatent to receipt or less than that because of this cash always have debit balance or t th the side of cash book.

Q:21 Define subsidiary books.

A: Subsidiary book may be defined as ‘The books of original entry containing a
specialised and homdgeheous class of transcations maintained daily in a chronological order. It Is also called special journals.

Q22. Write any three features of subsidiary books.

A: Features of subsidiaiy books are :

1. It is a book of original entry of transactions. They substitute the journal.
2. Each subsidiary books contains specialised transations having common
   characterstics.
3. Entering transactions is simple and much earlier than journalising.

Q23. Mention any four types subsidiary books.

A: Usual subsidiary books are:

1. Purchase book
2. Sales book
3. Purchase return book
4. Sales return book
5. Bills receivable
6. Bills payable
7. Cash book
8. Journal proper

Q24. What is purchase book?

A: It is a type of subsidiary book which contains all details of credit purchase of
goods during the year.

Q25. What is an invoice?

A: Invoice or bills is a statement of goods along with quantity and price which is issued by seller to purchase

Q26. What is meant by purchase return book or return outwards?

A: It is a type of subsiciany books. It contains the details of goods return to supplier.

Q27. What is the cash discount?

A: It is an allowance given by creditor to the debtor for prompt payment of the
debt.

Q28. Write the meaning of debit note.

A: It is a statement containing the details of the goods returned as a quntity, rate,
etc. The returner will prepare this note.

Q29. What is sales book?

A: It is a type of subsidiary book or special ledger. Where all credit sales of goods
recorded in a set of original book of entry called sales book.

Q30. What is sales return book?

A: It is a type of subsidiary books. In this book all returns from debtors and allowance granted are recorded. It is also called as return inward books.

Q31. Write the meaning of credit note.

A: It is a statement containing the detail of goods returned as quantity, rates etc.
The credit note is prepared by there receiver of goods.

Q32. Write any two similarities beteen purchase and sales book.

1. Both purchased and sales book records credit transactions.
2. Both s only transactions related to goods.

Q34. Write any two advantages of subsidiary books.

1. Division of work possible and upto date accounts is possible with the help of subsidiary books.
2. There will be considerable savings of labour time.

Q35. What is trade discount?

A: It is an allowance or reduction from the catalogue price or invoice price of goods allowed by saler to customer.

Q36. What is discount?

A: Discount means reduction or deduction in the invoice price or invoice price of
When goods are returned to supplir.

1st Puc Accountancy Chapter 4 Notes

Six Mark Qs

Q1. Explain the need for drawing up the special purpose books.

A: The needs drawing up the special purpose book are given below:

• Quick and efficient recording: It is a time consuming process to record all the transactions in a journal. If there are separate books, then recording of transactions can be done more efficiently and timely. So, the need of special purpose book arises.
• Repetitive nature: In every business, some transactions are similar and repetitive in nature. It will be more convenient to record all similar transactions at one place. For example, all credit sales transactions are recorded in the sales book.
• Economical: It is more economical as recording through the special purpose books saves time and also enhances the efficiency of accountants and clerks.
• Easy posting: If similar transactions are recorded at one place, posting becomes easier.
• Complete information at one place: All information related to purchases, sales, cash receipts, payments, etc. are easily and hassle-free available.

Q2. What is cash book? Explain the types of cash book.

A: Cash Book is a book of original entry. It records all transactions related to receipts and payments of cash and deposits in and withdrawals from a bank in a chronological order. In the debit side of the cash book, t h receipts are recorded in the cash column while all deposits into bankagrount are recorded in the bank column. On the contrary, in the credit side of the cash book, all cash payments are recorded in the cash column, all payments through cheques are recorded in the bank column. Us it is prepared on monthly basis. Cash book also serves the purpose af principle book (i.e. cash account and bank account).
a. Single column Cash Book: A single column Cash Book contains one column
of amount on both sides, i.e., one in the debit side and other in the credit side. In the single column Cash B only cash transactions are recorded. In the debit side of the Cash , all cash receipts are recorded, while in the credi side all cash payment ecorded.

b. Double column cash Book: A double column Cash Book contains two columns of amount , namely cash column and bank column on both sides. In the cash column of Cash Book, all cash receipts and payments are recorded, according to the rule of Real Accounts. All deposits either in cash or through cheques into the bank account of the business are debited in the bank column and all withdrawals of cash and payments through cheques are credited in the bank column

c. Triple column Cash Book: In a triple column Cash Book, there are three coumns of amount namely, cash, bank and discount. Discount allowed and discount received are recorded in the discount column. While in the debit side, discount allowed is recorded along with the receipts, either in cash or through cheque; whereas, in the credit side, discount received is recorded, along with the payments made either in cash or by issuing cheques.

d. Petty Cash Book: This book is used for recording payment of petty expensed, which are of smaller denominations like, postage, stationery, conveyance, refreshment, etc. is known as petty cash book.

Q3. What is contra entry? How can you deal this entry while preparing double column cash book?

A: The transaction that is entered in either sides of the double column or three
column cash book, affecting both cash and the bank balance Concomitantly is called contra entry. These entries result in increase in cash ces and decrease in bank balances or vice versa. In other words. a debit of bank account leads to a credit of cash account
For example, Rs 200 cash deposited into bank. This transaction increases the bank amount on one hand whereas, on the other hand reduces together.

The contra entries are denoted by ‘C:

Some transactions that lead to contra entry are given below.

1. Opening a bank account
2. Depositing cash into
3. Withdrawal from bank
   

Q4: What is petty cash book? Write the advantages of petty cash book?

A: Petty cash is used for recording payments of small expenses, which are of smaller denominations such as postage, stationery, conveyance, refreshment,etc. person who maintains petty cash book is known as petty cashier and these small expenses are termed as petty expenses.

It is prepared by the below given two methods:

1. Ordinary system: Under this system, a certain sum of money is given to the petty cashier for the payment of petty expenses. After spending the whole amount, the accounts are submitted by the petty cashier to the main cashier.

2. Imprest system: Under this system, a fixed sum of money is given to the petty cashier in the beginning of a period to meet the petty expenses to be incurred in that period.

At the end of the period, the amount spent by petty cashier is reimbursed. So, the petty cahier has the same fixed amount of money in the beginning of the next period.

Advantages of petty cash book

• Simple method: Recording of transactions in a petty cash book is easy. In an analytical petty cash book, there exists separate heads for different petty’ expenses, which makes recording much easier. Recording in a petty cash book does not require formal knowledge of accounting principles and techniques.
• Time saving: Recording in petty cash book saves time and efforts of the chief cashier.
• Efficient control: At the end of a period, petty cash book is audited by the main cashier, so frauds a ors are less probable,
• Convenient handling: Recording in petty cash book is convenient, as entries are to be recorded under separate heads, which makes posting easier and quicker.

Q5. Describe the advantages of sub-dividing the Journal.

A: The advantages of sub division of Journal are given below:

a.Division of work: The lack of sub-division of Journal may lead to chaos and
confusions,

if large numbers of transactions are to be recorded through Journal entry by more than one accountant. The will be more inflexible and lack of accountability among the accountants. Sub-division of Journal into subsidiary books facilitates division of work. Sub-division enables different accountants to work on different books. This will not only avoid confusions but also enhance the sense of accountability among the accountants.

b.Time saving: The art of recording through subsidiary book is time efficient and more
effective as compared to recording through Journal entries.

c. Prompt information: The transactions of similar nature are recorded in a particular subsidiary book. This acts as read source to access information quicker than
through journal entry.

d. Creates atcountability: Sub-division of journal entris accountants with higher degree of responsibility and accountability for maintaining subsidiary book that are assigned to them.

e. Easy checking: In case discrepancies or errors arise they can be easily located and rectified, as lesser number of transaction is recorded in a subsidiary book than in a — journal.

f. Specialization: The accountability, responsibilty and division of work together enhance the specialization of each accountant. This is because, routine and repetitive tasks are performed by each accountant.

Q6. What do you understand by balancing of account?

A: Accounts are prepared on weekly, fortnightly, monthly, quarterly or on daily
basis. At the end ; of each period they are balanced. The balancing of the is accounts is in the manner given below:

• The totals of the debit and credit of an account is calculated, to ascertain which one them is higher.
• The higher figure among debit and credit side is written in the grand total cello on both sides of the account, i.e., in debit and in credit side.
• The next step is to ascertain the difference between the debit total and the credit total. This difference is called ‘Closing Balance’ or ‘Balance carried down’, and is denoted by’Balance c/d’.
• The ‘Balance c/d’ will be shown either in the debit or credit side, whichever totals up into lower amount.
• lf ‘Balance c/d’ is written in the debit side, then the balance is called‘ Credit balance’. On the other hand, if ‘Balance c/d’ is written in the credit side, then the balance is called ‘Debit Balance’.
• On closing the account, ‘Balance c/d’ is brought forward to the subsequent period, and it is written as ‘Balance b/d’.

Usually, the closing balances of real and personal accounts are forwarded to the next period by this manner. For nominal accounts, Step Ito 3 remain same and they are closed by transferring the closing balances either to Trading Account or to Profit and Loss Account.

Q7. Enter the following transactions in a simple cash book for December 2020

Date	Particular	Amount
01	Cash in hand	12,000
05	Cash received from Bhanu	4,000
07	Rent Paid	2,000
10	Purchased goods Murari for cash	6,000
15	Sold goods for cash	9,000
18	Purchase stationery	300
22	Cash paid to Rahul on account	2,000
28	Paid salary	1,000
30	Paid rent	500

Dr Simple Cash book Cr

Date	Receipts	L.F.	Amount ₹	Date	Payments	L.F.	Amount ₹
2020				2020
01 Dec	Balance b/d		12,000	07 Dec	Rent		2,000
05 Dec	Bhanu		4,000	10 Dec	Purchases		6,000
15 Dec	Sales		9,000	18 Dec	Stationery		300
				22 Dec	Rahul		2,000
				28 Dec	Salaries		1,000
				30 Dec	Rent		500
				31 Dec	Balance c/d		13,200
			25,000				25,000

Q8. Enter the following transaction in Simple cash book for December 2018:

		₹
01	Cash in hand	7,750
06	Paid to Sonu	45
08	Purchased goods	600
15	Received cash from Parkash	960
20	Cash sales	500
25	Paid to D. Kumar	1,200
30	Paid rent	600

Dr Simple Cash book Cr

Date	Receipts	L.F.	Amount ₹	Date	Payments	L.F.	Amount ₹
2018				2018
01 Dec	Balance b/d		7,750	06 Dec	Sonu		45
15 Dec	Parkash		960	08 Dec	Purchases		600
20 Dec	Sales		500	25 Dec	S.Kumar		1,200
				30 Dec	Rent		600
				31 Dec	Balance c/d		7,760
			9,210				9,210

Q9. Record the following transactions in a bank column cash book for December 2016:

		₹
01	Started business with cash	80,000
04	Deposited in bank	50,000
10	Received cash from Rahul	1,000
15	Bought goods for cash	8,000
22	Bought goods by cheque	10,000
25	Paid to Shyam by cash	20,000
30	Drew from Bank for office use	2,000
31	Rent paid by cheque	1,000

Dr Bank column cash book Cr

Date	Receipts	L.F.	Cash ₹	Bank ₹	Date	Payments	L.F.	Cash ₹	Bank ₹
2016					2016
01 Dec	Capital		80,000		04 Dec	Bank	C		50,000
04 Dec	Cash	C		50,000	15 Dec	Purchases		8,000
10 Dec	Rahul		1,000		22 Dec	Purchases			10,000
30 Dec	Bank	C	2,000		25 Dec	Ram		20,000
					30 Dec	Cash	C		2,000
					31 Dec	Rent			1,000
					31 Dec	Balance c/d		5,000	37,000
			83,000	50,000				83,000	50,000

Q.10 Prepare double column cash book from the following information for September 2017:

		₹
01	Cash in hand	7,500
	Bank overdraft	3,500
03	Paid wages	200
05	Cash sales	7,000
10	Cash deposited into bank	4,000
15	Goods purchased and paid by cheque	2,000
20	Paid rent	500
25	Drew from bank for personal use	400
30	Salary paid	1,000

Dr Double column cash book Cr

Date	Receipts	L.F.	Cash ₹	Bank ₹	Date	Payments	L.F.	Cash ₹	Bank ₹
2017					2017
01 Sep	Balance b/d		7,500		01 Sep	Balance b/d (Overdraft)			3,500
05 Sep	Sales		7,000		03 Sep	Wages		200
10 Sep	Cash	C		4,000	10 Sep	Bank	C	4,000
					15 Sep	Purchases			2,000
					20 Sep	Rent		500
					25 Sep	Drawings			400
					30 Sep	Salaries		1,000
30 Sep	Balance c/d (Overdraft)			1,900	30 Sep	Balance c/d		8,800
			14,500	5,900				14,500	5,900

Q11. Write the difference between return inwards and return outwards.

Basis of Comparison	Return Inwards	Return Outwards
Meaning	Goods returned to business by their customers	Goods purchased by business are returned to the suppliers.
Balance	It has debit balance.	It has credit balance.
Treatment	Deducted from Sales in the Trading Account.	Deducted from Purchases in the Trading Account.
Issued	Credit note is prepared by the seller.	Debit note is prepared by the buyer.
Reduction	Reduces the payment from the Debtors.	Reduces the payment made to the Creditors.
Term	It is also known as Sales Returns.	It is also known as Purchases Returns.

Q12. What is difference between trade discount and cash discount?

Basis of Comparison	Trade Discount	Cash Discount
Meaning	Discount offered on purchase of goods.	Discount for making payment.
Recording in books	Not recorded in accounting books	Recorded in cash book either on debit or credit side depending on discount provided or received.
Purpose	Encourage increase in sale.	Encourage on time payment.

1st Puc Accountancy 4th Chapter Notes

Twelve Marks Qs

Q1. Prepare double column cash book from the following transactions for the year December 2017:

		₹
01	Cash in hand	17,500
	Cash at bank	5,000
03	Purchased goods for cash	3,000
05	Received cheque from Jasmeet	10,000
08	Sold goods for cash	7,000
10	Jasmeet’s cheque deposited into bank
12	Purchased goods and paid by cheque	20,000
15	Paid establishment expenses through bank	1,000
18	Cash sales	7,000
20	Deposited into bank	10,000
24	Paid trade expenses	500
27	Received commission by cheque	6,000
29	Paid Rent	2,000
30	Withdrew cash for personal use	1,200
31	Salary paid	6,000

The solution is represented in the following table as follows:

Date	Receipts	L.F.	Cash ₹	Bank ₹	Date	Payments	L.F.	Cash ₹	Bank ₹
2017					2017
01 Dec	Balance b/d		17,500	5,000	03 Dec	Purchases		3,000
05 Dec	Jasmeet		10,000		10 Dec	Bank	C	10,000
08 Dec	Sales		7,000		12 Dec	Purchases			20,000
10 Dec	Cash	C		10,000	15 Dec	Establishment Expenses			1,000
18 Dec	Sales		7,000		20 Dec	Bank	C	10,000
20 Dec	Cash	C		10,000	24 Dec	Trade Expenses		500
27 Dec	Commission			6,000	29 Dec	Rent		2,000
					30 Dec	Drawings		1,200
					31 Dec	Salaries		6,000
					31 Dec	Balance c/d		8,800	10,000
			41,500	31,000				41,500	31,000

For the month of December 2017, the cash in hand is ₹.8, 800 and the cash in bank is 10,000.

Q2. M/s Ruchi trader started their cash book with the following balances on July 2017: cash in hand ₹ 1,354 and balance in bank current account ₹ 7,560. He had the following transaction in the month of July, 2017:

		₹
03	Cash sales	2,300
05	Purchased goods, paid by cheque	6,000
08	Cash sales	10,000
12	Paid trade expenses	700
15	Sales goods, received cheque (deposited same day)	20,000
18	Purchased motor car paid by cheque	15,000
20	Cheque received from Manisha (deposited same day)	10,000
22	Cash Sales	7,000
25	Manisha’s cheque returned dishonoured
28	Paid Rent	2,000
29	Paid telephone expenses by cheque	500
31	Cash withdrawn for personal use	2,000

The transactions can be represented in a bank column cash book as shown below:

Date	Particulars	L.F.	Cash ₹	Bank₹	Date	Particulars	L.F.	Cash ₹	Bank₹
2017					2017
Jul.01	Balance b/d		1,354	7,560	Jul.05	Purchases			6,000
Jul.03	Sales		2,300		Jul.12	Trade Expenses		700
Jul.08	Sales		10,000		Jul.18	Motor Car			15,000
Jul.15	Sales			20,000	Jul.25	Manisha (Dishonour)			10,000
Jul.20	Manisha			10,000	Jul.28	Rent		2,000
Jul.22	Sales		7,000		Jul.29	Telephone Expenses			500
					Jul.31	Drawings		2,000
					Jul.31	Balance c/d		15,954	6,060
			20,654	37,560				20,654	37,560

For month of July Cash in Hand is ₹. 15,954 and the Cash in Bank is ₹ 6,060.

Q3. Prepare petty cash book from the following transactions. The imprest amount is ₹ 2,000.

July 2017		₹
01	Paid cartage	50
02	STD charges	40
02	Bus fare	20
03	Postage	30
04	Refreshment for employees	80
06	Courier charges	30
08	Refreshment of customer	50
10	Cartage	35
15	Taxi fare to manager	70
18	Stationery	65
20	Bus fare	10
22	Fax charges	30
25	Telegrams charges	35
27	Postage stamps	200
29	Repair on furniture	105
30	Laundry expenses	115
31	Miscellaneous expenses	100

The petty cash book can be created with the following transactions as shown below

petty cash book

Amount Received	Date	Particulars	Voucher No.	Amount Paid	Analysis of Payments	Remarks
₹	2017 July			₹	Postage	Telephone & Telegram	Conveyance	Stationery	Misc.
	2017
2000	01 Jul	Cash received
	01 Jul	Cartage		50			50
	02 Jul	STD Charges		40		40
	02 Jul	Bus fare		20			20
	03 Jul	Postage		30	30
	04 Jul	Refreshments		80					80
	06 Jul	Courier Charges		30	30
	08 Jul	Refreshments		50					50
	10 Jul	Cartage		35			35
	15 Jul	Taxi fare		70			70
	18 Jul	Staionery		65				65
	20 Jul	Bus fare		10			10
	22 Jul	Fax		30		30
	25 Jul	Telegram Charges		35		35
	27 Jul	Postage		200	200
	29 Jul	Furniture Repair		105					105
	30 Jul	Laundry		115					115
	31 Jul	Misc		100					100
				1065	260	105	185	65	450
	31 Jul	Balance c/d		935
2,000				2,000
935	01 Aug	Balance b/d
1,065	01 Aug	Cash received

Cash Balance at the end of the week is ₹935

Q4. Enter the following transactions in the Purchase Journal (Book) of M/s Gupta Traders of July 2017:

01	Bought from Rahul Traders as per invoice no. 20041
	40 Registers @ ₹ 60 each
	80 Gel Pens @ ₹ 15 each
	50 note books @ ₹ 20 each
	Trade discount 10%.
15	Bought from Global Stationers as per invoice no. 1132
	40 Ink Pads @ ₹ 8 each
	50 Files @ ₹ 10 each
	20 Color Books @ ₹ 20 each
	Trade Discount 5%
23	Purchased from Lamba Furniture as per invoice no. 3201
	2 Chairs @ 600 per chair
	1 Table @ 1,000 per table
25	Bought from Mumbai Traders as per invoice no. 1111
	10 Paper Rim @ ₹ 100 per rim
	400 drawing Sheets @ ₹ 3 each
	20 Packet water colour @ ₹ 40 per packet

From the above question we see that Gupta Traders deals with stationery. On 23^rd July the purchase of furniture is toward the use of company and hence, will not be considered as an entry in purchase book.

Books of Mr.Gupta Traders

Purchases Book

Date	Invoice No.	Name of the Supplier (Account to be credited)	L.F.	Details ₹	Amount ₹
2017
01 Jul	20041	Rahul Traders
		40 Registers @ ₹ 60 each		2,400
		80 Gel Pens @ ₹ 15 each		1,200
		50 Note Books @ ₹ 20 each		1,000
				4,600
		Less: Trade Discount 10%		(460)	4,140
15 Jul	1132	Global Stationers
		40 Ink Pads @ ₹ 8 each		320
		50 Files @ ₹ 10 each		500
		20 Colour Books @ ₹ 20 each		400
				1,220
		Less: Trade discount 5%		(61)	1,159
25 Jul	1111	Mumbai Traders
		10 Paper rims @ ₹ 100 each		1,000
		400 Drawing Sheets @ ₹ 3 each		1,200
		20 Packets Water Colour @ ₹ 40 per pack		800	3,000
		Purchases Account			8,299

The purchase book does not contain a details column but it is included here for helping the students understand the concept.

Q5. Enter the following transactions in sales (journal) book of M/s. Bansal electronics: 2014 September

01	Sold to Amit Traders as per bill no.4321
	20 Pocket Radio @ 70 per Radio
	2, T.V. set, B&W. (6.) @ 800 Per T.V.
10	Sold to Arun Electronics as per bill no.4351
	5 T.V. sets (20.) B&W @ ₹ 3,000 per T.V.
	2 T.V. sets (21.) Colour @ ₹ 4,800 per T.V.
22	Sold to Handa Electronics as per bill no.4,399
	10 Tape recorders @ ₹ 600 each
	5 Walkman @ ₹ 300 each
28	Sold to Harish Trader as per bill no.4430
	10 Mixer Juicer Grinder @ ₹ 800 each.

Book of M/s. Bansal electronics

Sales book

Date	Bill No.	Name of the Customer (Account to be debited)	L.F.	Details ₹	Amount ₹
2014
Sep 01	4321	Amit Traders
		20 Pocket Radio @ ₹ 70 Per Radio		1,400
		2 T.V Set, B&W (6″) @ ₹ 800 Per T.V.		1,600	3,000
Sep 10	4351	Arun Electronics
		5 T.V. sets (20″) B&W @ ₹ 3,000 per T.V.		15,000
		2 T.V. sets (21″) Colour @ ₹ 4,800 per T.V		9,600	24,600
Sep 22	4399	Handa Electronics
		10 Tape Recorders @ ₹ 600 each		6,000
		5 Walkman @ ₹ 300 each		1,500	7,500
Sep 28	4430	Harish Traders
		10 Mixer Juicer Grider @ ₹ 800 each		8,000	8,000
		Sales Account			43,100

Q6. Prepare Return Inward Journal (Book) from the following transactions of M/s Bansal Electronics for August 2020:

		₹
04	M/s Gupta Traders returned the goods	1,500
10	Goods returned from M/s Harish Traders	800
18	M/s Rahul Traders returned the goods not as per specifications	1,200
28	Goods returned from Sushil Traders	1,000

Sales Return Book

Date	Credit Note No.	Name of Customer(Account to be credited)	L.F.	Amount(₹)
2017
Aug.04		M/s Gupta Traders		1,500
Aug.10		M/s Harish Traders		800
Aug 18		M/s Rahul Traders		1,200
Aug.28		Sushil Traders		1,000
		Sales Return Account		4,500

Q7. Prepare a purchases return (journal) book from the following transactions for May 2017.

		₹
05	Returned goods to M/s Kartik Traders	1,200
10	Goods returned to Sahil Pvt. Ltd.	2,500
17	Goods returned to M/s Kohinoor Traders for list price ₹ 2,000 less 10% trade discount.
28	Return outwards to M/s Handa Traders	550

Purchase Return Book

Date	Debit Note No.	Name of Supplier  (Account to be debited)		L.F.	Amount₹
2017
May. 05		M/s Kartik Traders			1,200
May. 10		Sahil Pvt. Ltd.			2,500
May. 17		M/s Kohinoor Trader
		List Price	2,000
		Less: 10% Trade discount	(200)		1,800
May. 28		M/s Handa Traders			550
		Purchases Return Account			6050

Q8. Prepare proper subsidiary books and post them to the ledger from the following transactions for the month of January 2020:

		₹
01	Goods sold to Sachin	5,000
04	Purchase from Kushal Traders	2,480
06	Sold goods to Manish Traders	2,100
07	Sachin returned goods	600
08	Returns to Kushal Traders	280
10	Sold to Mukesh	3,300
14	Purchased from Kunal Traders	5,200
15	Furniture purchased from Tarun	3,200
17	Bought of Naresh	4,060
20	Return to Kunal Traders	200
22	Return inwards from Mukesh	250
24	Purchased goods from Kirit & Co. for list price of	5,700
	less 10% trade discount
25	Sold to Shri Chand goods	6,600
	less 5% trade discount
26	Sold to Ramesh Brothers	4,000
28	Return outwards to Kirit and Co.	1,000
	less 10% trade discount
28	Ramesh Brothers returned goods ₹ 500.

Subsidiary book and ledger entries for the transactions are shown below:

Journal

Puchase book

Date	InvoiceNo.	Name of Supplier (Accounts to be credited)	L.F.	Amount ₹
2020
Jan.04		Kushal Traders		2,480
Jan.14		Kunal Traders		5,200
Jan.17		Naresh		4,060
Jan.24		Kirit and Co.	5,700
		Less: Trade Discount 10%	(570)	5,130
		Purchases Account		16,870

Sales Book

Date	InvoiceNo.	Name of Customer(Accounts to be debited)	L.F.	Amount ₹
2020Q
Jan. 01		Sachin		5,000
Jan.06		Manish Traders		2,100
Jan.10		Mukesh		3,300
Jan.25		Shri Chand	6,600
		Less: 5% Trade Discount	(330)	6,270
Jan.26		Ramesh Brothers		4,000
		Sales Account

Sales Return Book

Date	CreditNote	Name of Customer (Accounts to be credited)	L.F.	Amount ₹
2020
Jan.07		Sachin		600
Jan.22		Mukesh		250
Jan.28		Ramesh Brothers		500
		Sales Return Account		1,350

Purchase Return Book

Date	DebitNote	Name of Supplier(Accounts to be debited)	L.F.	Amount₹
2020
Jan.08		Kushal Traders		280
Jan.20		Kunal Traders		200
Jan.28		Kirit and Co.	1,000
		Less: 10% Trade Discount	(100)	900
		Purchase Return A/c		1,380

Journal Proper

Date	Particulars	L.F.	Debit Amount₹	credit Amount₹
2020 Jan.15	Furniture A/c Dr. To Tarun (bing Furniture purchased from Tarun)		3,200	3,200

Ledger

Purchase Account

Dr Cr

Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount₹
2020				2020
Jan.28	Sundries as per PurchasesBook		16,870
				Jan.28	Balance c/d		16,870
			16,870				16,870

Sales Account

Dr Cr

Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount₹
2020				2020
				Jan.28	Sundries as per Sales Book		20,670
Jan.28	Balance c/d		20,670
			20,670				20,670

Sales Return Account

Dr Cr

Date	Particulars	J.F.	Amount₹	Date	Particulars	J.F.	Amount₹
2020				2020
Jan.28	Sundries as per Sales Return Book		1,350
				Jan.28	Balance c/d		1,350
			1,350				1,350

Purchase Return Account

Dr Cr

Date	Particulars	J.F.	Amount₹	Date	Particulars	J.F.	Amount₹
2020				2020
				Jan.28	Sundries as per Purchases Return Book		1,380
Jan.28	Balance c/d		1,380
			1,380				1,380

Sachin’s Account

Dr Cr

Date	Particulars	J.F.	Amount₹	Date	Particulars	J.F.	Amount₹
2020				2020
Jan.01	Sales		5,000	Jan.07	Sales Return		600
				Jan.28	Balance c/d		4,400
			5,000				5,000

Kushal Traders’ Account

Dr Cr

Date	Particulars	J.F.	Amount₹	Date	Particulars	J.F.	Amount ₹
2020				2020
Jan.08	Purchases Return		280	Jan.04	Purchases		2,480
Jan.28	Balance c/d		2,200
			2,480				2,480

Manish Traders’ Account

Dr Cr

Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2020				2020
Jan.06	Sales		2,100
				Jan.28	Balance c/d		2,100
			2,100				2,100

Mukesh’s Account

Dr Cr

Date	Particulars	J.F.	Amount₹	Date	Particulars	J.F.	Amount₹
2020				2020
Jan.10	Sales		3,300	Jan.22	Sales Return		250
				Jan.28	Balance c/d		3,050
			3,300				3,300

Kunal Traders’ Account

Dr Cr

Date	Particulars	J.F.	Amount₹	Date	Particulars	J.F.	Amount₹
2020				2020
Jan.20	Purchase Return		200	Jan.14	Purchases		5,200
Jan.28	Balance c/d		5,000
			5,200				5,200

Furniture Account

Dr Cr

Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount₹
2020				2020
Jan.15	Tarun		3,200
				Jan.28	Balance c/d		3,200
			3,200				3,200

Tarun’s Account

Dr Cr

Date	Particulars	J.F.	Amount₹	Date	Particulars	J.F.	Amount₹
2020				2020
				Jan.15	Furniture		3,200
Jan.28	Balance c/d		3,200
			3,200				3,200

Naresh’s Account

Dr Cr

Date	Particulars	J.F.	Amount₹	Date	Particulars	J.F.	Amount₹
2020				2020
				Jan.17	Purchases		4,060
Jan.28	Balance c/d		4,060
			4,060				4,060

Kirit & Co. Account

Dr Cr

Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2020				2020
Jan.28	Purchases Return		900	Jan.24	Purchases		5,130
Jan.28	Balance c/d		4,230
			5,130				5,130

Shri Chand & Co. Account

Dr Cr

Date	Particulars	J.F.	Amount₹	Date	Particulars	J.F.	Amount₹
2020				2020
Jan.25	Sales		6,270
				Jan.28	Balance c/d		6,270
			6,270				6,270

Ramesh’s Account

Dr Cr

Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount₹
2020				2020
Jan.26	Sales		4,000	Jan.28	Sales Return		500
				Jan.28	Balance c/d		3,500
			4,000				4,000

Q9. The following balances of a ledger of M/s Marble Traders on May 01, 2017

	₹
Cash in hand	6,000
Cash at bank	12,000
Bills receivable	7,000
Ramesh (Cr.)	3,000
Stock (Goods)	5,400
Bills payable	2,000
Rahul (Dr.)	9,700
Himanshu (Dr.)	10,000

Transactions during the month were:

May		₹
01	Goods sold to Manish	3,000
02	Purchased goods from Ramesh	8,000
03	Received cash from Rahul in full settlement	9,200
05	Cash received from Himanshu on account	4,000
06	paid to Ramesh by cheque	6,000
08	Rent paid by cheque	1,200
10	Cash received from Manish	3,000
12	Cash sales	6,000
14	Goods returned to Ramesh	1,000
15	Cash paid to Ramesh in full settlement	3,700
	Discount received	300
18	Goods sold to Kushal	10,000
20	Paid trade expenses	200
21	Drew for personal use	1,000
22	Goods return from Kushal	1,200
24	Cash received from Kushal	6,000
26	Paid for stationery	100
27	Postage charges	60
28	Salary Paid	2,500
29	Goods purchased from Sheetal Traders	7,000
30	Sold goods to Kirit	6,000
	Goods purchased from Handa Traders	5,000

Journalise the above transactions and post them to the ledger.

The above transactions are journalized and posted to ledger as shown below:

Journal Entries in the Books of M/s. Marble Traders

Date	Particulars	L.F.	Debit Amount₹	Credit Amount₹
2017 May.01	Cash A/c Dr. Bank A/c Dr. Bills Receivable A/cDr. Stock A/c Dr Rahul’s A/c Dr Himanshu A/c Dr To Ramesh’s A/c To Bills Payable A/c To Capital A/c (Balancing figure ) ( Being Balance brought from last year)		6,000 12,000 7,000 5,400 9,700 10,000	3,000 2,000 45,100
May.01	Manish Dr. To Sales A/c (Goods sold to Manish)		3,000	3,000
May.02	Purchases A/c Dr. To Ramesh A/C (Goods purchased from Ramesh)		8,000	8,000
May.03	Cash A/c Dr Discount Allowed A/c To Rahul a/c (Cash received from Rahul and discount allowed)		9,200 500	9,700
May. 05	Cash A/c Dr. To Himanshu A/c (Cash received from Himanshu)		4,000	4,000
May.06	Ramesh a/c Dr. To Bank A/c (Cheque issued to Ramesh)		6,000	6,000
May. 08	Rent A/c Dr. To Bank A/c (Rent paid by cheque)		1,200	1,200
May.10	Cash A/c Dr To Manish a/c (Cash received from Manish)		3,000	3,000
May.12	Cash A/c Dr. To Sales A/c (Goods sold for cash)		6,000	6,000
May.14	Ramesh a/c Dr To Purchases Return A/c (Goods returned to Ramesh)		1,000	1,000
May.15	Ramesh Dr To Cash A/c To Discount Received A/c (Cash paid to Ramesh and discount received)		4,000	3,700 300
May.18	Kushal Dr To Sales A/c (Goods sold to Kushal)		10,000	10,000
May.20	Trade Expenses A/c Dr To Cash A/c (Trade expenses paid)		200	200
May.21	Drawings A/c Dr To Cash A/c (Cash withdrawn for personal use)		1,000	1,000
May.22	Sales Return A/c Dr To Kushal (Kushal returned goods)		1,200	1,200
May.24	Cash A/c Dr To Kushal (Cash received from Kushal)		6,000	6,000
May.26	Stationery A/c Dr To Cash A/c (Stationery paid)		100	100
May.27	Postages A/c Dr To Cash A/c (Postage charges paid)		60	60
May.28	Salaries A/c Dr To Cash A/c (Salary paid)		2,500	2,500
May.29	Purchases A/c Dr To Sheetal Traders (Goods purchased from Sheetal Traders)		7,000	7,000
May.30	Kirit Dr To Sales A/c (Goods sold to Kirit)		6,000	6,000
May.30	Purchases A/c Dr To Handa Traders (Goods purchased from Handa Traders)		5,000	5,000
	Total		1,35,060	1,35,060

Ledger

Cash Account

Dr Cr

Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount₹
2017				2017
May.01	Balance b/d		6,000	May.15	Ramesh		3,700
May.03	Rahul		9,200	May.20	Trade Expenses		200
May.05	Himanshu		4,000	May.21	Drawings		1,000
May.10	Manish		3,000	May.26	Stationary		100
May.12	Sales		6,000	May.27	Postage		60
May.24	Kushal		6,000	May.28	Salaries		2,500
				May.30	Balance c/d		26,640
			34,200				34,200

Bank Account

Dr Cr

Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
May.01	Balance b/d		12,000	May.06	Ramesh		6,000
				May.08	Rent		1,200
				May.30	Balance c/d		4,800
			12,000				12,000

Bills Receivable Account

Dr Cr

Date	Particulars	J.F.	Amount₹	Date	Particulars	J.F.	Amount₹
2017				2017
May.01	Balance b/d		7,000
				May.30	Balance c/d		7,000
			7,000				7,000

Stock Account

Dr Cr

Date	Particulars	J.F.	Amount  ₹	Date	Particulars	J.F.	Amount  ₹
2017				2017
May.01	Balance b/d		5,400
				May.30	Balance c/d		5,400
			5,400				5,400

Rahul’s Account

Dr Cr

Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount₹
2017				2017
May.01	Balance b/d		9,700	May.03	Cash		9,200
				May.03	Discount Allowed		500
			9,700				9,700

Himanshu’s Account

Dr Cr

Date	Particulars	J.F.	Amount₹	Date	Particulars	J.F.	Amount ₹
2017				2017
May.01	Balance b/d		10,000	May.05	Cash		4,000
				May.30	Balance c/d		6,000
			10,000				10,000

Ramesh’s Account

Dr Cr

Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
May.06	Bank		6,000	May.01	Balance b/d		3,000
May.14	Purchases Return		1,000	May.02	Purchases		8,000
May.15	Cash		3,700
May.15	Discount Received		300
			11,000				11,000

Bills Payable Account

Dr Cr

Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
				May.01	Balance b/d		2,000
May.30	Balance c/d		2,000
			2,000				2,000

Capital Account

Dr Cr

Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount  ₹
2017				2017
				May.01	Balance b/d		45,100
May.30	Balance c/d		45,100
			45,100				45,100

Manish’s Account

Dr Cr

Date	Particulars	J.F.	Amount  ₹	Date	Particulars	J.F.	Amount  ₹
2017				2017
May.01	Sales		3,000	May.10	Cash		3,000
			3,000				3,000

Sales Account

Dr Cr

Date	Particulars	J.F.	Amount  ₹	Date	Particulars	J.F.	Amount  ₹
2017				2017
				May.01	Manish		3,000
				May.12	Cash		6,000
				May.18	Kushal		10,000
May.30	Balance c/d		25,000	May.30	Kirit		6,000
			25,000				25,000

Purchases Account

Dr Cr

Date	Particulars	J.F.	Amount₹	Date	Particulars	J.F.	Amount  ₹
2017				2017
May.02	Ramesh		8,000
May.29	Sheetal Traders		7,000
May.30	Handa Traders		5,000	May.30	Balance c/d		20,000
			20,000				20,000

Discount Allowed Account

Dr Cr

Date	Particulars	J.F.	Amount  ₹	Date	Particulars	J.F.	Amount  ₹
2017				2017
May.03	Rahul		500
				May.30	Balance c/d		500
			500				500

Rent Account

Dr Cr

Date	Particulars	J.F.	Amount₹	Date	Particulars	J.F.	Amount ₹
2017				2017
May.08	Bank		1,200
				May.30	Balance c/d		1,200
			1,200				1,200

Discount Received Account

Dr Cr

Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
				May.15	Ramesh		300
May.30	Balance c/d		300
			300				300

Kushal’s Account

Dr Cr

Date	Particulars	J.F.	Amount₹	Date	Particulars	J.F.	Amount ₹
2017				2017
May.18	Sales		10,000	May.22	Sales Return		1,200
				May.24	Cash		6,000
				May.30	Balance c/d		2,800
			10,000				10,000

Trade Expenses Account

Dr Cr

Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
May.20	Cash		200
				May.30	Balance c/d		200
			200				200

Drawing’s Account

Dr Cr

Date	Particulars	J.F.	Amount₹	Date	Particulars	J.F.	Amount ₹
2017				2017
May.21	Cash
			1,000	May.30	Balance c/d		1,000
			1,000				1,000

Sales Return Account

Dr Cr

Date	Particulars	J.F.	Amount₹	Date	Particulars	J.F.	Amount ₹
2017				2017
May.22	Kushal		1,200
				May.30	Balance c/d		1,200
			1,200				1,200

Stationery Account

Dr Cr

Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
May.26	Cash		100
				May.30	Balance c/d		100
			100				100

Postages Account

Dr Cr

Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
May.27	Cash		60
				May.30	Balance c/d		60
			60				60

Salaries Account

Dr Cr

Date	Particulars	J.F.	Amount₹	Date	Particulars	J.F.	Amount ₹
2017				2017
May.28	Cash		2,500
				May.30	Balance c/d		2,500
			2,500				2,500

Sheetal Trader’s Account

Dr Cr

Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
				May.29	Purchases		7,000
May.30	Balance c/d		7,000
			7,000				7,000

Handa Trader’s Account

Dr Cr

Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
				May.30	Purchases		5,000
May.30	Balance c/d		5,000
			5,000				5,000

Purchases Return Account

Dr Cr

Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount₹
2017				2017
				May.14	Ramesh		1,000
May.30	Balance c/d		1,000
			1,000				1,000

Kirit’s Account

Dr Cr

Date	Particulars	J.F.	Amount ₹	Date	Particulars	J.F.	Amount ₹
2017				2017
May.30	Sales		6,000
				May.30	Balance c/d		6,000
			6,000				6,000

Concepts covered in this chapter :

• Cash Book
• Single Column Cash Book
• Posting of the Double Column Cash Book
• Petty Cash Book
• Posting from the Petty Cash Book
• Conveyance Account
• Balancing of Cash Book
• Sales Account
• Purchases Account

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