How to show the closing balance of account in the column of particulars?
- ✓Balance carried forward
- BBalance carried down
- CDifference of balance
- DDifference of amount
Answer: A.
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MCQ .(1 Marks)
7 Q→02Answer In One Or Two Sentence .(1 Marks)
30 Q→03questions in two to three sentences . (2 Marks)
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6 Q→05Give Answer As Asked .(4 Marks)
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Answer: A.
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View full solution →Answer: D.
View full solution →| $1$ | Bank overdraft $₹ 12,000$ |
| $7$ | Goods of $₹ 9000$ sold to Nila at $10\%$ trade discount. Nila gave a cheque after deducting discount, which is deposited in the bank. |
| $14$ | Cheque of $₹ 5000$ issued to Nayana in full settlement of account of $₹ 5050.$ |
| $16$ | Commission of $₹ 1100$ paid by cheque. |
| $20$ | Vipul has given a cheque of $₹ 11,000$ towards amount payable of $₹ 11,125$ in full settlement of account. |
| $23$ | Goods of $₹ 4000$ sold to Chandulal at $10\%$ trade discount and $10\%$ cash discount. Chandulal made the payment immediately by cheque. Cheque is deposited in the bank. |
| $26$ | $₹ 1800$ paid to Devanshi by cheque. |
| $28$ | Cheque issued by Vipul is dishonoured. |
| $1$ | Opening cash balance $₹ 3000 ;$ Bank balance $₹ 6000$ |
| $2$ | Goods of $₹ 10,000$ sold to Nilesh at $10\%$ trade discount. Amount is received by cheque, which is deposited in the bank. |
| $7$ | Cheque issued by Nilesh is dishonoured. |
| $9$ | Receiver of Nilesh paid the dividend of $50$ paise against one rupee by cheque. |
| $10$ | Goods of $₹ 6000$ sold to Bhikhubhai for cash at $10\%$ cash discount. |
| $13$ | Goods of $₹ 5000$ purchased from Chetna at $10\%$ cash discount. Half of the amount is paid by cheque and remaining amount is paid in cash. |
| $15$ | Bank has collected a dividend of $₹ 1000$ and credited in our account. |
| $17$ | Bank has credited $₹ 100$ towards bank interest in our account. |
| $24$ | Advertisement expense of $₹ 3000$ paid by cash. |
| $26$ | $₹ 1000$ paid from business for 'Satyanarayan Katha' at home. |
| $27$ | Furniture of $₹ 3000$ purchased for home, the amount is paid by cheque. |
| $28$ | A cheque of $₹ 3000$ is issued to Girish in full settlement of account of $₹ 3090.$ |
| $29$ | Pravin has paid by cheque $₹ 2500$ in full settlement of $₹ 2575.$ |
| $31$ | After keeping cash on hand of $₹ 500,$ remaining amount is deposited in the bank. |
| $1$ | Cash on hand $₹ 5000 .$ |
| $3$ | Goods of $₹ 3000$ sold to Gita for cash. |
| $5$ | Goods of $₹ 2000$ purchased from Amit for cash. |
| $7$ | Cash of $₹ 5000$ brought in the business, as more funds are requied in the business. |
| $9$ | Insurance premium $₹ 800$ paid. |
| $10$ | Furniture of $₹ 4000$ purchased from Ganesh Furniture Mart for cash. |
| $12$ | $₹ 1500$ received towards commission and $₹ 1200$ paid towards brokerage. |
| $14$ | $₹ 3000$ received from Mahesh towards receivable. |
| $16$ | Salary $₹ 1000$ and freight $₹ 200$ paid. |
| $18$ | $₹ 30$ paid to Prakruti towards an old account. |
| $20$ | Machinery purchased for the business $₹ 2000.$ |
| $23$ | As more funds are required in the business, $₹ 10,000$ borrowed as loan bearing $10\%$ rate of interest from Rameshbhai. |
| $26$ | Cash purchase $₹ 7000.$ |
| $28$ | $₹ 3000$ deposited in Prime Co-operative Bank. |
| $(1)$ Purchase Account | $(8)$ Building Account |
| $(2)$ Sales Account | $(9)$ Drawing Account |
| $(3)$ Sales Return Account | $(10)$ Bad debts Account |
| $(4)$ Debtor's $($Customer's$)$ Account | $(11)$ Goods burnt by fire Account |
| $(5)$ Capital Account | $(12)$ Loss by theft Account |
| $(6)$ Salary Account | $(13)$ Advertisement Expenses Account |
| $(7)$ Rent received Account | $(14)$ Contribution to Provident Fund Account |
| $1$ | Opening bank overdraft $(SBI) ₹ 6000 ,$ Bank balance $(BOI) ₹ 4000 .$ |
| $4$ | Goods of $₹ 4000$ sold, against that a cheque received, which is deposited in $SBI$ account. |
| $5$ | Goods of $₹ 6000$ purchased, against that a cheque of $₹ 2000$ of $BOI$ is issued and $SBI$ cheque of $₹ 4000$ is issued. |
| $7$ | Cheque of $SBI$ of $₹ 1400$ issued for salary. |
| $11$ | Bank interest $₹ 500$ and dividend $₹ 2500$ collected by $SBI$ and credited in the account. |
| $13$ | A cheque of $₹ 7000$ received from Anuj towards the payment of an old debt which was deposited in $BOI.$ |
| $18$ | Cheque of $₹ 3000$ issued from $BOI$ account and deposited in the $SBI$ account. |
| $23$ | Goods of $₹ 2500$ purchased for which a cheque of full amount is issued from $BOI$ account. |
| $26$ | Machinery of $₹ 6000$ purchased, for which a cheque of $50\%$ amount from $SBI$ account and for the remaining amount cheque is issued from $BOI$ account. |
| $1$ | Opening cash balance $₹ 10,000 ,$ bank overdraft $₹ 4000$ |
| $3$ | Goods of $₹ 3000$ purchaed from Iyer at $10\%$ cash discount and issued cheque of the necessary amount. |
| $5$ | quad Salary of $₹ 800$ and stationery of $₹ 700$ paid by cheque. |
| $7$ | Goods of $₹ 6000$ purchased from Babita at $10\%$ trade discount. Half of the amount paid by cash and the balance amount is paid by cheque. |
| $9$ | quad $₹ 4000$ deposited in the bank. |
| $10$ | Cheque of $₹ 6000$ issued to Popatlal towards the full settlement of the account of $₹ 6050.$ |
| $12$ | Atmaram has given $₹ 6000$ cash and cheque of $₹ 4000$ which is deposited in the bank towards the amount payable $₹ 10,070.$ |
| $14$ | Cheque of $₹ 5000$ received from Sundar towards payment of an old debt, which is deposited in the bank. |
| $19$ | $₹ 3000$ cash paid towards Income Tax of Jethalal. |
| $20$ | Cheque of Sundar is dishonoured. |
| $22$ | $50$ paisa dividend received from receiver of Sundar. |
| $28$ | Goods of $₹ 10,000$ sold to Tipendra at $10\%$ cash discount. For $60\%$ of the amount cheque received which is deposited and the remaining amount is received in cash. |
| $31$ | After keeping cash on hand of $₹ 2000, $ remaining amount is deposited in the bank. |
| $1$ | Cash balance $₹ 7000,$ bank overdraft $₹ 2500$ |
| $2$ | Goods of $₹ 7000$ sold to Urvashi crossed cheque is received from her, which is deposited in the bank. |
| $4$ | Goods of $₹ 2000$ sold to Ashok at $10\%$ trade discount. $50\%$ amount received in cash and for the balance amount cheque is received, which is deposited in the bank. |
| $5$ | quad $₹ 2000$ cash deposited in the bank. |
| $7$ | Machine of $₹ 5000 $ purchased. Cheque of necessary amount is issued. |
| $9$ | Cheque of $₹ 6000$ is received from Mansi towards receivable which is immediately deposited in the bank. |
| $11$ | Wages $₹ 500; $ telephone bill $₹ 500$ and electricity bill $₹ 1200 $ paid by cheque. |
| $13$ | $₹ 2000$ withdrawn from the bank for the payment of insurance premium. |
| $15$ | Insurance premium is paid of $₹ 1600.$ |
| $21$ | Bank debited $₹ 150$ to our account for interest on overdraft and $₹ 100$ for bank charges and it is informed to us through bank advice. |
| $23$ | Goods of $₹ 3000$ sold to Dharti. Crossed cheque is received. |
| $24$ | Cheque of $₹ 3000$ received from Tejal, which is endorsed to Sejal. |
| $26$ | Bank informed about the dishonour of cheque issued by Dharti. |
| $28$ | $₹ 1500$ paid to Vibodh for settlement of account. $₹ 2000$ withdrawn for personal use from the bank. |
| $29$ | Cheque of $₹ 3000$ received from the customer Virendra. |
| $30$ | Cheque of $₹ 3000$ received from the customer Virendra, which is endorsed in favour of Surendra. |
| $1$ | Opening cash balance $₹ 8000 $. |
| $4$ | Goods of $₹ 6000$ purchased at $10\%$ trade discount. |
| $7$ | Goods of $₹ 3000$ sold to Pravin for cash at $5\%$ cash discount. |
| $10$ | Goods of $₹ 4000$ sold for cash at $10\%$ trade discount and $5\%$ cash discount. |
| $12$ | Furniture of $₹ 5000$ is purchased from Gopal Furniture Mart. |
| $15$ | $₹ 1000$ paid to Vishnu towards full settlement of $₹ 1020.$ |
| $16$ | $₹ 900$ paid for commission. |
| $18$ | $₹ 1500$ received from Kamlesh towards full settlement of $₹ 1560 .$ |
| $20$ | Paid $₹ 2000$ for salary and $₹ 400$ for wages. |
| $23$ | Goods of $₹ 2000$ purchased from Vishwa for cash at $10\%$ trade discount and $10\%$ cash discount. |
| $26$ | Cash of $₹ 4000$ brought in the business. |
| $28$ | Machine of $₹ 8000$ is purchased from Maheshwari Engineering, for which $₹ 5000$ is paid and the balance amount is agreed to be paid after one month. |
| $1$ | Cash received from chief cashier $₹ 4000.$ |
| $3$ | $₹ 120$ paid for carriage. |
| $5$ | $₹ 130$ paid for misc. expenses. |
| $7$ | $₹ 500$ paid to Arpit as advance salary. |
| $10$ | $₹ 100$ paid for postage expenses. |
| $12$ | $₹ 250$ paid for printing of Bill-book. |
| $15$ | $₹ 100$ paid for Tea-refreshment and $₹ 100$ paid for stationery expenses. |
| $18$ | $₹ 100$ paid for misc. expenses. |
| $23$ | $₹ 100$ paid for carriage and $₹ 150$ paid for stationery. |
| $28$ | $₹ 50$ paid for postal stamps. |
| $29$ | $₹ 120$ paid for carriage and $₹ 80$ for Tea-refreshments. |
| The petty cashier is given cash at the beginning and end of the month. |
| $1$ | Opening cash balance $₹ 3000 ;$ Bank balance $₹ 6000$ |
| $2$ | Goods of $₹ 10,000$ sold to Nilesh at $10\%$ trade discount. Amount is received by cheque, which is deposited in the bank. |
| $7$ | Cheque issued by Nilesh is dishonoured. |
| $9$ | Receiver of Nilesh paid the dividend of $50$ paise against one rupee by cheque. |
| $10$ | Goods of $₹ 6000$ sold to Bhikhubhai for cash at $10\%$ cash discount. |
| $13$ | Goods of $₹ 5000$ purchased from Chetna at $10\%$ cash discount. Half of the amount is paid by cheque and remaining amount is paid in cash. |
| $15$ | Bank has collected a dividend of $₹ 1000$ and credited in our account. |
| $17$ | Bank has credited $₹ 100$ towards bank interest in our account. |
| $24$ | Advertisement expense of $₹ 3000$ paid by cash. |
| $26$ | $₹ 1000$ paid from business for 'Satyanarayan Katha' at home. |
| $27$ | Furniture of $₹ 3000$ purchased for home, the amount is paid by cheque. |
| $28$ | A cheque of $₹ 3000$ is issued to Girish in full settlement of account of $₹ 3090.$ |
| $29$ | Pravin has paid by cheque $₹ 2500$ in full settlement of $₹ 2575.$ |
| $31$ | After keeping cash on hand of $₹ 500,$ remaining amount is deposited in the bank. |
| $1$ | Opening cash balance $₹ 7000$ Bank overdraft $₹ 4000$ |
| $2$ | Goods of $₹ 4000$ sold to Khushali. A cheque is received from her which is deposited in the bank. |
| $4$ | Goods of $₹ 8000$ sold to Yesha at $10\%$ cash discount. Half of the amount is received in cash and remaining amount is received by cheque which is deposited in the bank. |
| $6$ | Goods of $₹ 3000$ purchased in cash from Dipen at $10\%$ cash discount. $₹ 1000$ deposited in the bank. |
| $9$ | $₹ 800$ paid to Gopi for salary by cheque. |
| $11$ | Stationery of $₹ 300$ purchased from Suresh Stationery Mart and the amount is paid by cheque. |
| $14$ | Dipak paid $₹ 5900$ by cash towards total debt of $₹ 6005 .$ |
| $17$ | Cheque of $₹ 8000$ issued to Paresh towards full settlement of account of $₹ 8080.$ |
| $20$ | Rent of $₹ 3000$ paid by cash. |
| $24$ | $₹ 2000$ withdrawn from the business for personal use. |
| $28$ | Postage expenses of $₹ 200$ paid by cash. |
| $29$ | Paid cash of $₹ 600$ for wages. |
| $31$ | After keeping cash on hand of $₹ 2000,$ remaining amount is deposited in the bank. |
| $2016$ | ||
| Sept. | $1$ | $40$ cotton sarees at the rate of $Rs.450$ and $20$ silk sarees at the rate of $Rs.600$ are purchased from Ladli Fashion Stores at $10\%$ trade discount. Inward invoice no. $23.$ |
| $2$ | $25$ silk saris at the rate of $Rs.750$ and $10$ badhani saris at the rate of $Rs.1,000$ are purchased from Poonam Sari Centre at $10\%$ trade discount. Inward invoice no. $204.$ | |
| $3$ | $20$ cotton sarees at the rate of $Rs.400, 30$ silk sarees at the rate of $Rs.800$ and $15$ bandhani sarees at the rate of $Rs.1,200$ are purchased from Rajvi Stores at $20\%$ trade discount. Inward invoice no. $321.$ | |
| $2016$ | ||
| Oct. | $1$ | Cash balance $Rs.30,000,$ bank balance $Rs.42,000.$ |
| $3$ | Withdraw $Rs.12,000$ from bank for business. | |
| $4$ | Cash purchase $Rs.5,500,$ Cash sales $Rs.16,000.$ | |
| $5$ | Gave a cheque of $Rs.1,200$ for the purchase of office stationery. | |
| $8$ | A cheque of $Rs.4,500$ is given to Shivshankar for full settlement towards payables of $Rs.4,515.$ | |
| $9$ | Against the receivable of $Rs.16,200$ due from Devshankar, received $Rs.6,000$ in cash and $Rs.10,000$ by cheque in full settlement. | |
| $10$ | A cheque of $Rs.2,100$ given to 'Umashankar News Agency', for the advertisement in news paper. | |
| $11$ | Paid $Rs.2,200$ as the electricity bill of th shop and $Rs.1,200$ as the electricity bill of the residence from te business. | |
| $12$ | By paying cash of $Rs.8,600,$ Premshankar has closed his account of $Rs.8,680.$ | |
| $2016$ | ||
| Jan. | $1$ | Goods of $Rs. 7000$ are purchased from Nisarg at $15 \% $ trade discount. |
| $2$ | Goods of $Rs. 3500$ are purchased from Jay at $10 \%$ trade discount. | |
| $4$ | Goods of $Rs. 10,500$ are sold to Kruti at $10 \%$ trade discount. | |
| $5$ | Goods of $Rs. 7000$ are sold to Devami at $20 \%$ profit thereon. | |
| $7$ | Goods of $Rs. 900$ returned to Nisarg. | |
| $8$ | Goods of $Rs. 600$ returned to Pranav. | |
| $10$ | Goods of $Rs. 2000$ returned by Devami. | |
| $11$ | Goods of $Rs. 1200$ returned by Pavan. | |
| $2016$ | ||
| June | $1$ | Goods of $Rs.9000$ are sold at $10\%$ profit to Shakil Traders. Outward invoice no. $251.$ |
| $2$ | Goods of $Rs.9600$ are purchased from Nargis at $10\%$ trade discount. Inward invoice no. $636.$ | |
| $3$ | Goods of $Rs.5600$ sold at $15\%$ profit to Nitin Stores. Outward invoice no. $252.$ | |
| $4$ | Goods of $Rs.6000$ are purchased from Paresh at $5\%$ trade discount. Inward invoice no. $525$. | |
| $5$ | Goods of $Rs.750$ are received back from Vishwas. Credit note no. $81$. | |
| $7$ | Goods of $Rs.900$ returned to Bharat. Debit note no. $221.$ | |
| $8$ | Goods of $Rs.1100$ returned by Nitin, as the goods were not according to sample. Credit note no. $82.$ | |
| $9$ | As the goods of $Rs.920$ are damged, they are returned back to Nargis. Debit note no. $222.$ | |
| $10$ | Three cupboard at the rate of $Rs.2400$ each are purchased from Ashwin Furniture Mart. Credit bill no. $67.$ | |
| $14$ | As one of the cupboard from those which were purchased from Ashwin Furniture Mart is in damges conditions, it is returned to them. Debit note no. $223.$ | |
| $2016$ | ||
| Aug. | $1$ | Goods of $Rs.48,000$ are purchased at $10\%$ trade discount from Zuben Traders. |
| $2$ | Goods of $Rs.42,000$ are purchased at $5\%$ trade discount from Mazhar. | |
| $3$ | Goods of $Rs.20,000$ are purchased at $5\%$ trade discount from Mahesh Stroes. | |
| $4$ | Purchased furniture of $Rs.12,000$ from Ashraf Furniture Mart. | |
| $7$ | Goods of $Rs.24,000$ is sold at $20\%$ profit to Rajabhai at $10\%$ trade discount. | |
| $8$ | Goods of $Rs.36,000$ are sold to Salman at $5\%$ trade discount. | |
| $9$ | Goods of $Rs.4,000$ are returned to Dineshbhai. | |
| $10$ | Goods of $Rs.12,000$ are sold to Chinubhai at $10\%$ trade discount. | |
| $14$ | Goods of $Rs.6,200$ are returned by Rajabhai. | |
| $15$ | Goods of $Rs.3,500$ are returned to Salim. | |
| $16$ | Goods of $Rs.1,600$ are returned by Mitul. | |
| $2016$ | ||
| April | $1$ | Cash $Rs.40,000$ and furniture of Rs.20,000 brought in business. |
| $2$ | Goods of $Rs.36,000$ are sold to Dhaval stores at $10\%$ trade discount. For this Dhaval Stores has paidcash $Rs.15,000.$ | |
| $3$ | $Rs.18,000$ is deposited in a book. | |
| $4$ | Goods of $Rs.20,000$ are purchased at $12%$ trade discount from Dhara Stores. Forthis a cheque of $Rs. 8,000$ is given | |
| $5$ | Withdrawn from the bank $Rs.5,000$ for office expenses and $Rs.4,000$ for the householdexpenses. | |
| $7$ | Office expenses paid $Rs.2,200.$ | |
| $8$ | Against the dues of $Rs.4,830$, paid $Rs.4,800$ in cash for the final settelment to Jayeshbhai. | |
| $9$ | Due to the fire in godown, goods of $Rs.3,200$ is burnt by fire and insurancecompany has accepteda claim of $Rs.2,600$ for the same. | |
| $10$ | Goods of $Rs.6,600$ are purchased from Anil Traders and towards this, payment of $Rs.2,600$ is made in cash. | |
| $12$ | Paid $Rs.4,800$ for shop rent and $Rs.6,000$ for house rent. | |
| $13$ | Paid $Rs.4,000$ to Anil Traders by cheque. | |
| $2016$ | ||
| Aug. | $1$ | Opening cash balance $Rs.24,000$ and bank balance $Rs.20,000$. |
| $2$ | Cash deposited in bank $Rs.14,000$. | |
| $3$ | Goods of $Rs.20,000$ are sold to Sureshbhai, for which we received cash $Rs.8,000$ and for the balance we received a cheque which is deposited in the bank. | |
| $5$ | Paid shop rent $Rs.1,500$ by cheque and salary of $Rs.2,500$ in cash. | |
| $7$ | Goods of $Rs.8,700$ are purchased from Dineshbhai, for which paid $Rs.700$ in cash. | |
| $9$ | Paid a electricity bill of $Rs.1,870$ and telephone bill of $Rs.530$ by cheque. | |
| $11$ | Goods of $Rs.9,000$ are sold to Kanji at $10\%$ trade discount, for which, received $Rs.1,900$ in cash. | |
| $13$ | Jayanti has paid $Rs.4,800$ for his dues of $Rs.5,000$ and settled his account. | |
| $16$ | Gave a cheque of $Rs.7,600$ to Dineshbhai and settled his account. | |
| $17$ | Paid $Rs.1,800$ in cash from business for gift on Shital's marriage function. | |
| $20$ | Goods of $Rs.11,000$ are sold to Pandya Brothers and he has paid the full amount at $2\%$ cash discount. | |
| $22$ | Received a cheque of $Rs.6,000$ from Kanji in full settlement against his dues of $Rs.6,200.$ | |
| $24$ | Received a cheque of $Rs.1,600$ for commission, which is deposited in the bank. | |
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