Ledger — Account STD 11 Commerce — Question

Journalise the following:

1. Received a V.P.P. from Mohan Lal for ₹ 25,000. Sent a peon to collect it who paid ₹ 200 as cartage.
2. Received ₹ 1,000 from sales of old newspapers and ₹ 5,000 from sales of old chairs.
3. Goods given away as charity goods costing ₹ 7,000.
4. Received Cash from a debtor written off as bad-debt last year ₹ 20,000.
5. Sold goods costing ₹ 50,000 to Ashok on credit at a profit of 20% on cost.
6. Sold goods costing ₹ 1,00,000 for ₹ 1,40,000.
7. Provide ₹ 50,000 as interest on Capital.
8. Paid rent of building ₹ 60,000 by cheque. Half the building is used by the proprietor for residential purpose.
9. Outstanding salary at the end of the year ₹ 30,000.

Give rectifying Journal entries for the following errors:

1. Sales of goods to Madan ₹ 6,000 were entered in the Sales Book as ₹ 600.
2. Credit purchase of ₹ 1,500 from Ajay has been wrongly passed through the Sales Book.
3. Repairs to building ₹ 300 were debited to Building Account.
4. ₹ 2,050 paid to Rohit is posted to the debit of Mohit’s Account as ₹ 5,020.
5. Purchases Return Book is overcasted by ₹ 400.

2017		₹
Jan 1	Assets: Cash in hand ₹ 12,400; Stock ₹ 3,60,000; Debtors : Abhilash ₹ 20,000; Bhuwan ₹ 30,000, Charu ₹ 52,000; Furniture ₹ 2,25,000.
	Liabilities: Bank overdraft ₹ 38,000; Creditors : Dinesh ₹ 15,000; Eknath ₹ 25,000.
Jan 3	Purchased from Raghuraj & Sons:
Jan 5	80 electric Kettles @ ₹ 300 each
	40 electric irons @ ₹ 420 each
	20% Trade Discount.
	Withdrew from Bank.
Jan 6	Acceptance received from Abhilash at one month for the amount due from him.	20,000
Jan 10	Purchased a computer from Gursharan Bros. on credit for office use	40,000
Jan 12	Returned 10 electric kettles to Raghuraj & Sons.
Jan 14	Paid Raghuraj & Sons by cheque the balance due to them.
Jan 15	Paid to Gursharan Bros. ₹ 30,000 in cash and the balance by a cheque.
Jan 16	Paid wages in cash
Jan 20	Purchased from Dinesh:	500
	10 Washing Machines @ ₹ 16,000 each
	4 Vacuum cleaners @ ₹ 6,000 each
	15% Trade Discount
Jan 22	Sold to Charu:
	200 electric shavers @ ₹ 250 each
	400 toasters @ ₹ 150 each
	450 heaters @ ₹ 200 each
	10% Trade Discount
Jan 24	Received from Charu a cheque in full settlement of his account. The cheque is paid into bank.	2,30,000
Jan 25	Acceptance given to Dinesh for 30 days.	1,50,000
Jan 25	Cheque issued to Dinesh in full settlement of his account.	21,000
Jan 25	Sold for Cash 20 electric irons	9,000
Jan 27	Deposited into bank	5,000
Jan 30	Paid staff salaries by cheque	15,000
Jan 30	Bank charged incidental expenses ₹ 50 and charged interest ₹ 1,200.

Journalise the following transactions in the books of Ashok:

1. Received ₹ 11,700 from Hari Krishan in full settlement of his account for ₹ 12,000.
2. Received ₹ 11,700 from Shyam on his account for ₹ 12,000.
3. Received a first and final dividend of 70 paise in the rupee from the official receiver of Rajagopal who owed us ₹ 7,000.
4. Paid ₹ 2,880 to A.K. Mandal in full settlement of his account for ₹ 3,000.
5. Paid ₹ 2,880 to S.K. Gupta on his account for ​₹ 3,000.

Pass the rectification entries for the following transactions:

1. An amount of ₹ 2,000 received from Mohan on 1st April, 2019 had been entered in the Cash Book as having been received on 31st March, 2019.
2. The balance in the account of Rahim ₹ 1,000 had been written off as bad but no other account has been debited.
3. An addition in the Returns Inward Book had been cast ₹ 100 short.
4. A cheque for ₹ 200 drawn for the Petty Cash Account has been posted in the account of Asif.
5. A discounted Bill of Exchange for ₹ 20,000 returned by the firm's bank had been credited to the Bank Account and debited to Bills Receivable Account. A cheque was received later from the customer for ₹ 20,000 and duly paid.
6. Ramesh's Account was credited with ₹ 840 twice instead of once.

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

	2017 January	₹
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

Journalise the following transactions:

1. Sold goods to Brijesh of the list price of ₹ 10,000 at trade discount of 5%. Received full payment in cash.
2. Goods given away as charity ₹ 1,000.
3. Charge interest on capital of ₹ 5,00,000 @ 7% p.a.
4. Outstanding wages ₹ 3,000.
5. ₹ 5,000 due from Sunny are now bad debts.
6. ₹ 50,000 cash sales (of goods costing ₹ 40,000).

Prepare the Transfer Vouchers in the books of Mangla Agencies, Faridabad, Haryana from the Source Vouchers:

2019	Particular	₹
Jan-7	Purchased goods from M/s Eufora, New Delhi vide Bill No. 912, paid IGST @ 12%	4,700
Jan-11	Sold goods to M/s Yardley, Faridabad, Haryana vide Bill No. 31596, charged CGST and SGST @ 6% each	5,000
Jan-31	Depreciation charged on building @ 10% on ₹ 2,00,000	20,000

Mr. Yadav, the petty cashier of M/s Triputi Traders received ₹ 10,000 on April 1, 2016 from the Head Cashier. Following were the petty expenses:

2016		(₹)
April 2	Taxi fare	750
April 3	Refreshments	450
April 5	Registered postal charges	200
April 5	Wages	700
April 8	Auto fare	200
April 9	Courier charges	150
April 12	Postal Stamps	600
April 14	Eraser/ Sharpeners/ Pencils	400
April 17	Speed Post charges	200
April 20	Cartage	600
April 20	Computer Stationery	500
April 22	Wages	300
April 24	Bus fare	600
April 25	Office Sanitation	800
April 26	Refreshments	750
April 28	Loading Charges	300
April 30	Photostatting Charges	200
April 30	Wages	800

You are required to prepare a Petty Cash Book.

On Jan. 1, 2017 Neha sold goods for ₹ 20,000 to Muskan and drew upon her a bill of exchange payable after two months. One month before the maturity of the bill Muskan approached Neha to accept the payment against the bill at a rebate @12% p.a. Neha agreed to the request of Muskan and Muskan retired the bill under the agreed rate of rebate.
Journalise the above transactions in the books of Neha and Muskan.