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Account Give Answer As Asked .(6 Marks)

Journal · Gujarat Board (GSEB) STD 11 Commerce (GSEB - English Medium). 9 questions.

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Give Answer As Asked .(6 Marks)

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9 questions · timed · auto-graded

Question 16 Marks
Write journal entries in the books of Ashwin for the following transactions.
$2018$
May
$1 ₹ 5000$ for business and $₹ 2000$ for personal use are withdrawn from bank.
$4$ Picnic fees of son, paid from business $₹ 1700.$
$10$ Goods of $₹ 4500$ sold to Magan to earn $10\%$ profit on selling price.
$15$ Goods of $₹ 700$ ruined to rain, sold for $₹ 200.$
$20 ₹ 5000$ of salary and $₹ 1000$ of wages are paid.
$25$ Goods of $₹ 6000$ sold to Honey at $10\%$ trade discount and $10\%$ cash discount.
$30$ Goods of $₹ 700$ is received as sample.
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Question 26 Marks
From the following transactions perpare journal of Pranav Patel of Rajkot.
The following $GST$ rates are applicable to the business transactions of Shri Pranavbhai. The amount of $GST$ is not included in following transactions.
Particulars of $GST$ On goods On services
Central Goods and Service Tax : $CGST$ $6 \%$ $2.5 \%$
State Goods and Service Tax : $SGST$ $6 \%$ $2.5 \%$
Integrated Goods and Service Tax : $IGST$ $12 \%$ $5.0 \%$
$2019$
Dec.
$1$ Goods of $₹ 10,000$ purchased at $10 \%$ trade discount from Manubhai of Bhavnagar, amount paid by cheque.
$3$ Goods of $₹ 20,000$ purchased at $10 \%$ trade discount from Prakashchandra of
Puna (Maharashtra).
$5$ Goods of $₹ 30,000$ sold at $10 \%$ trade discount to Arvindbhai of Ahmedabad.
$8$ Goods of $₹ 25,000$ sold at $10 \%$ trade discount to Kamleshbhai of Kochi (Kerala), against which cheque is received.
$15$
$\frac{1}{4}$th goods returned to Prakashchandra and proportionate $GST$ credit is received.
$20$
$\frac{1}{3}$rd goods returned by Arvindbhai and proportionate $GST$ credit is allowed.
$25$ A cupboard for office is purchased from Shivam Furniture Mart of Amreli $₹ 10,000.$
$28$ Rent paid $₹ 4000.$
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Question 36 Marks
Write journal entries for the following transactions in the books of Hasmukhbhai of Vadodara.
The following $GST$ rates are applicable to the business transactions of Hasmukhbhai. The amount of $GST$ is not included in following transactions.
Particulars of GST On goods On services
Central Goods and Service Tax : $CGST$ $6 \%$ $2.5 \%$
State Goods and Service Tax : $SGST$ $6 \%$ $2.5 \%$
Integrated Goods and Service Tax : $IGST$ $12 \%$ $5.0 \%$
$2019$
August
$1$ Goods of ₹ $40,000 $purchased at $10 \%$ trade discount from Jyotindrabhai of Jamnagar. Payment made by cheque.
$3$ Goods of ₹$ 60,000$ purchased at $5 \%$
cash discount from Manindersingh of Bhatinda (Punjab).
$6$ Goods of ₹ $90,000$ sold at $10 \%$ trade discount to Navinchandra of Navsari.
$8$ Brokerage paid ₹ $9000$.
$10$ A machine of ₹ $1,00,000$ purchased from 'Morden Machine Co.' of Bhuj.
$15$ Goods of ₹ $15,000$ returned to Manindersingh the proportionate credit of $GST$ is received back.
$18$ Goods of ₹ $30,000$ sold at $10 \% $ trade discount to Devendra Kapoor of Delhi, against which cheque is received.
$20$ Goods of ₹ $30,000$ returned by Navinchandra and proportionate credit of $GST$ allowed him.
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Question 46 Marks
From the following information write journal entries in the books of Jagdishbhai of Junagarh.
The following $GST$ rates are applicable to the business transactions of Shri Jagdishbhai. $GST$ amount is not included in following transactions.
Particulars of $GST$ On goods On services
Central Goods and Service Tax : $CGST$ $6 \%$ $2.5 \%$
State Goods and Service Tax : $SGST$ $6 \%$ $2.5 \%$
Integrated Goods and Service Tax : $IGST$ $12 \%$ $5.0 \%$
$2019$
June
$1$ Goods of $₹ 80,000$ purchased at $10 \%$ trade discount from Nareshbhai of Nadiad.
$5$ Goods of $₹ 1,00,000$ sold at $10 \%$ trade discount to Bakulbhai of Bengaluru (Karnataka).
$9$  $\frac{1}{5}$ th goods is returned to Nareshbhai. The proportionate amount of $GST$ received back.
$15$
$\frac{1}{6}$ th goods is received back from Bakulbhai. The proportionate amount of $GST$ is allowed.
$22$ A machine of $₹ 60,000$ purchased from Rameshwar stores of Rajkot, amount paid by cheque.
$30$ Telephone bill paid $₹ 8000$ by cheque.
Answer
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Question 56 Marks
Write journal entries for the following transactions in the books of Rakesh Traders :
$2018$
April
$1$ Goods of ₹ $30,000$ purchased at $10 \%$ trade discount from Bhavik.
$3$ Goods purchased from Bhavik, sold to Gagan after adding $25 \%$ profit.
$7$ Goods of ₹ $15,000$ was returned by Gagan, same was returned to Bhavik.
$15$ Shares of $BHEL$ company are purchased for ₹ $18,000$. Payment made by cheque including brokerage of $2\%$.
$25$ ₹ $1515$ was to be collected from Kirit. He paid cheque of ₹ $1500$ as a final settlement.
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Question 66 Marks
Write journal entries for following transactions in the books of Ashish.
$2018$
March
$1$ Personal old furniture of $₹ 15,000$ is sold for $₹ 12,000$ out of which $₹ 10,000$ invested in business.
$5$ Received $₹ 2000$ for income tax refund.
$7$ Goods of $₹ 4000$ destroyed by fire. Insurance company admitted claim of $₹ 3000.$ On sales of goods destroyed by fire $₹ 400$ is realised.
$12$ Life insurance premium of $₹ 800$ and fire insurance premium of $₹ 700$ paid by cheque.
$17$ Stationery purchased $₹ 350.$
$20$ Bad debts of $₹ 2200$ was earlier written off, out of which $₹ 1000$ received.
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Question 76 Marks
Bhavna Patel has commenced business with a name of 'Patel Stores', write journal entries from business transactions.
$2018$
Feb.
$1$ Business commenced with $₹ 60,000$ cash and loan of Jay of $₹ 60,000.$
$7$ Goods of ₹ 8000 purchased at $10 \%$ trade discount and at $5 \%$ cash discount.
$10$ Withdrawn goods of $₹ 400$ and cash of $₹ 600$ for personal use.
$17$ Salary paid $₹ 1500$ to clerk Vijay.
$21$ Shop rent $₹ 1200$ and house rent of $₹ 800$ paid by cash.
$25$ Goods of $₹ 1100$ is distributed as sample.
Answer
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Question 86 Marks
From the following transactions write journal entries in the books of Satish.
$2018$
January
$1$ The business owner Satish has commenced business by introducing cash of $₹ 80,000$, machinery of $₹ 20,000$, debtors of $₹ 20,000$, creditors of $₹ 10,000$ and with loan of Raj $₹ 40,000.$
$4$ Due to need of business additional fund is obtained $₹ 30,000$ as a loan from friend Avi.
$6$ Goods worth $₹ 20,000$ purchased at $10 \%$ trade discount and at $5 \%$ cash discount from Kanan. Half amount paid by cheque.
$8$ Goods purchased from Kanan, out of which half goods sold to Nitya so as to earn $10 \%$ profit on selling price.
$15$ Goods of $₹ 6000$ was returned by Nitya which is immediately returned to Kanan.
Answer
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Question 96 Marks
From the following transactions write journal entries in the books of Pujan.
$2018$
February
$1$ Goods purchased of ₹ $35,000$.
$4$ Goods purchased of ₹ $15,000$ from Prachi.
$8$ Goods sold of ₹ $12,000$ to Jeenal.
$12$ Goods sold of ₹ $10,000$.
$15$ Goods of ₹ $1000$ returned by Jeenal.
$19$ Goods of ₹ $1500$ returned to Prachi.
$22$ Rent paid ₹ $1000$.
$25$ Commission received ₹ $700$.
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Give Answer As Asked .(6 Marks) - Account STD 11 Commerce Questions - Vidyadip