Accounting Equation — Account STD 11 Commerce — Question

Journalise the following in the books of Som Nath & Sons:

2019
May 1	Purchased a Machinery for ₹ 1,00,000 and the payment was made by issuing a cheque from Proprietor's saving bank account.
May 4	Received an order from Chakravarti for goods of ₹ 4,00,000 alongwith a cheque of 10% of the order as advance.
May 8	Paid cash ₹ 8,000 to Dushyant and discount allowed by him ₹ 800.
May 10	Goods stolen by an employee (Sale Price ₹ 20,000; Cost ₹ 15,000).
May 15	Purchased stationery worth ₹ 8,000 for office use and ₹ 2,000 for personal use.
May 20	Manoj pays us ₹ 5,400 after deducting 10% for prompt payment.
May 28	Sold goods to Kuber costing ₹ 2,00,000 at 25% above cost less trade discount of 10% and cash discount of 5%. Kuber did not avail the cash discount.

Rectify the following errors assuming that suspense account was opened. Ascertain the difference in trial balance.

1. Depreciation provided on machinery ₹ 4,000 was not posted to Depreciation account.
2. Bad debts written-off ₹ 5,000 were not posted to Debtors account.
3. Discount allowed to a debtor ₹ 100 on receiving cash from him was not posted to discount allowed account.
4. Goods withdrawn by proprietor for personal use ₹ 800 were not posted to Drawings account.
5. Bill receivable for ₹ 2,000 received from a debtor was not posted to Bills receivable account.

On which side will the increase in the following accounts be recorded? Also, state the nature of the account:

i	Furniture A/c	ii	Mohan (proprietor)
iii	Salary A/c	iv	Purchases A/c
v	Sales A/c	vi	Interest Paid A/c
vii	Sohan (Creditor)	viii	Ram (Debtor)

Enter the following transactions in proper Subsidiary Books and post them into Ledger:

2017
March 2	Purchased from Navrang Traders for ₹ 8,300
March 3	Sold goods to Rohan for ₹ 3,200
March 5	Bought of Ruchi Traders for ₹ 12,100
March 8	Rohan returns the goods for ₹ 600
March 10	Purchased goods from Jaipur Stores of the list price of ₹ 15,400 less 5% Trade Discount
March 12	Sold goods to Arun Traders for ₹ 18,000 less 15% Trade Discount
March 12	Bought of Amit Traders for ₹ 10,000
March 16	Purchased Machinery from Kirloskar Ltd. ₹ 20,000
March 18	Returned goods to Jaipur Stores for ₹ 800 less 5% Trade Discount
March 19	Arun Traders returned goods for ₹ 3,000, less 15% Trade Discount
March 20	Sales to Kalpna & Co. for ₹ 14,700
March 22	Purchased goods from Navrang Traders ₹ 25,000
March 25	Returns outward to Navrang Traders for ₹ 1,200
March 26	Sales to Rupa Traders for ₹ 10,000 less 10% Trade Discount
March 29	Returns inward from Kalpana & Co. for ₹ 2,000

Journalise the following transaction in the books of Sanjana and post them into the ledger:

January, 2017		₹
1	Cash in hand	6,000
	Cash at bank	55,000
	Stock of goods	40,000
	Due to Rohan	6,000
	Due from Tarun	10,000
3	Sold goods to Karuna	15,000
4	Cash sales	10,000
6	Goods sold to Heena	5,000
8	Purchased goods from Rupali	30,000
10	Goods returned from Karuna	2,000
14	Cash received from Karuna	13,000
15	Cheque given to Rohan	6,000
16	Cash received from Heena	3,000
20	Cheque received from Tarun	10,000
22	Cheque received from to Heena	2,000
25	Cash given to Rupali	18,000
26	Paid cartage	1,000
27	Paid salary	8,000
28	Cash sale	7,000
29	Cheque given to Rupali	12,000
30	Sanjana took goods for Personal use	4,000
31	Paid General expense	500

From the following balances, taken from the books of M/s Dwarka Parshad & Sons as at 31st March 2017, prepare a Trial Balance in proper form:−

In the following Sales Book, determine the missing information:

Give any three points of distinction between cash basis and accrual basis of accounting.

Fill in the missing information in the following journal entries: