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11th Standard English Medium Accountancy Subject Ledger Creative 5 Mark Questions with Solution Part - I updated Creative Questions

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Questions:

Generic 5

5 x 5 = 25

Post the following transactions direct into ledger of Mr. Ratnakumar.

2017 July		Rs
1	Started business with	60,000
5	Cash paid into Bank	20,000
7	Withdrew cash Rs 5,000 for office use
8	Withdrew by cheque for personal use	500
10	Paid Salaries by cheque	3,000
15	Furniture purchased by cheque	5,000

Post the following transactions directly in the ledger.

2014 May		Rs
1	Started business with cash	50,000
5	Bought goods from Chandrasekar on Credit for	15,000
8	Sold Goods to Nehru on Credit for	25,000
10	Goods returned to Chandrasekar	500
15	Goods returned from Nehru	2,500
20	Settled Chandrasekar's Account
25	Nehru settled his Account

Journalise the following transactions in Thiru. Kumaran books and post them to ledger.

2013Aug.		Rs
5	Sold goods to Arumugam on Credit	17,500
9	Bought good for cash from Chellapan	22,500
12	Met Travelling expenses	2,500
15	Received 80,000 from Sivakumar as loan
21	Paid wages to workers	3,000

Journalise the following transactions in Tmt. Rani's Journal and post them to ledger.

2003 Sep		Rs
1	Tmt. Rani started business with	3,00,000
5	Opened a current account with Indian Overseas Bank	50,000
12	Bought goods from Tmt. Sumathi	90,000
18	Paid to Tmt. Sumathi	90,000
20	Sold goods to Tmt. Chitra	1,26,000
28	Tmt. Chitra settled her accounts

Journalise the following transactions of Mr. Ravi and post them in the ledger and balance the same.

2016 June	.
1	Ravi invested Rs. 5,00,000 cash in the business.
3	Paid into Bank Rs. 80,000
5	Purchased building for Rs. 3,00,000
10	Sold goods for Rs. 80,000
15	Withdrew cash from bank Rs. 10,000
30	Paid Salary Rs. 15,000

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Answers Key:

Generic 5

5 x 5 = 25

Dr. Ledger Account of Mr. Ratnakumar Cash Account Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2017 June 1	To Ratnakumar's Capital A/c	60,000	2017 June 5	By Bank A/c	20,000
7	To Bank A/c	5,000
		65,000			65,000
2014 July 1	To Balance b/d	45,000

Dr. Bank Account Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2017 June 5	To Cash A/c	20,000	2017 June 7	By Cash A/c	5,000
			8	By Drawings A/c	500
			10	By Salary A/c	3,000
			15	By Furniture A/c	5,000
			30	By Balance c/d	6,500
		20,000			20,000
2017 July 1	To Balance b/d	6,500

Dr. Ratnakumar Capital Account Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2017 June 30	To Balance c/d	60,000	2017 June 1	By Cash	60,000
		60,000			60,000
			2017 July 1	By Balance b/d	60,000

Dr. Drawings Account Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2017 June 8	To Bank A/c	500	2017 June 30	By Balance c/d	500
		500			500
2017 July 1	To Balance b/d	500

Dr. Salary Account Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2017 June 10	To Bank A/c	3,000	2017 June 30	By Balance c/d	3,000
		3,000			3,000
2017 July 1	To Balance b/d	3,000

Dr. Furniture Account Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2017 June 15	To Bank A/c	5,000	2017 June 30	By Balance c/d	5,000
		5,000			5,000
2017 July 1	To Balance b/d	5,000

Ledger Account Cash Account
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2014 May 1	To Ramakrishnan Capital A/c	50,000	2014 May 20	By Chandra sekar A/c	14,500
	To Nehru A/c	22,500	31	By Balance c/d	58,000
		72,500			72,500
	To Balance b/d	58,000

Dr. Ramakrishnan Capital Account Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2014 May 31	To Balance c/d	50,000	2014 May 1	By Cash A/c	50,000
		50,000			50,000
			2014 June 1	By Balance b/d	50,000

Dr. Purchases Account Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2014 May 5	To Chandrasekar's A/c	15,000	2014 May 31	By Balance c/d	15,000
		15,000			15,000
2014 June 1	To Balance b/d	15,000

Dr. Chandrasekar Account Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2014 May 10	To Purchase return A/c	500	2014 May 5	By Purchases A/c	15,000
20	To Cash A/c	14,500
		15,000			15,000

Dr. Nehru Account Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2014 May 8	To Sales A/c	25,000	2014 May 15	By Sales Return A/c	2,500
			25	By Cash A/c	22,500
		25,000			25,000

Dr. Sales Account Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2014 May 31	To Balance c/d	25,000	2014 May 8	By Nehru's A/c	25,000
		25,000			25,000
			2014,June 1	By Balance b/d	25,000

Dr. Purchases Return Account Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2014 May 31	To Balance c/d	500	2014 May 10	By Chandrasekar A/c	500
		500			500
			2014 June 1	By Balance b/d	500

Dr. Sales return Account Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2014 May 15	To Nehru A/c	2,500	2014 May 31	By Balanced c/d	2,500
		2,500			2,500
2014 June 1	To Balance b/d	2,500

In the books of Thiru. Kumaran Journal Entries
Date	Particulars	Debit Rs.	Credit Rs.
2013 Aug. 5	Arumugam's A/c Dr. To SalesA/c (Credit Sales)	17,500	17,500
9	Purchases A/c Dr. To Cash A/c (Cash purchases)	22,500	22,500
12	Traveling Expenses A/c Dr. To Cash A/c (Traveling expenses paid)	2,500	2,500
15	Cash A/c Dr. To Sivakumar's Loan A/c (Loan from Sivakumar)	80,000	80,000
21	Wages A/c Dr. To Cash A/c (Wages paid)	3,000	3,000

Dr. Ledger Account of Thiru. Kumaran Arumugam Account Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2013 Aug. 5	To Sales A/c	17,500	2013 Aug. 31	By Balance c/d	17,500
		17,500			17,500
2013 Sep. 1	To Balance b/d	17,500

Dr. Sales Account Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2013 Aug. 31	To Balance c/d	17,500	2013 Aug. 5	By Arnmugam A/c	17,500
		17,500			17,500
			2013 Aug. 5	By Balance b/d	17,500

Dr. Purchases Account Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2013 Aug. 9	To Cash A/c	22,500	2013 Aug. 31	By Balance c/d	22,500
		22,500			22,500
2013 Sep. 1	To Balance b/d	22,500

Dr. Cash Account Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2013 Aug. 15	To Sivakumar's loan A/c	80,000	2013 Aug. 9	By Purchases A/c	22,500
			12	By Traveling expenses A/c	2,500
			21	By Wages A/c	3,000
			31	By Balance c/d	52,000
		80,000			80,000
2013 Sep. 1	To Balance b/d	52,000

Dr. Traveling expenses Account Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2013 Aug 12	To Cash A/c	2,500	2013 Aug 31	By Balance c/d	2,500
		2,500			2,500
2013 Sep 1	To Balance b/d	2,500

Dr. Sivakumar's Loan Account Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2013 Aug. 31	To Balance c/d	80.000	2013 Aug. 15	By Cash A/c	80.000
		80.000			80.000
			2013 Sep. 1	By Balance b/d	80.000

Dr. Wages Account Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2013 Aug. 21	To Cash A/c	3,000	2013 Aug. 31	By Balance c/d	3,000
		3,000			3,000
2013 Sep. 1	To Balance b/d	3,000

In the books of Tmt.Rani Journal Entries
Date	Particulars	Debit Rs.	Credit Rs.
2003 Sep. 1	Cash A/c Dr To Tmt. Rani's Capital A/c (Amount invested in business)	3,00,000	3,00,000
5	Indian overseas Bank A/c Dr. To Cash A/c (Bank account opened and amount paid into bank)	50,000	50,000
12	Purchases A/c Dr. To Tmt. Sumathi A/c (Credit purchases)	90,000	90,000
18	Tmt. Sumathi's A/c Dr. To Cash A/c (Tmt. Sumathi's account settled)	90,000	90,000
20	Tmt. Chitra A/c Dr. To Sales A/c (Credit sales)	1,26,000	1,26,000
28	Cash A/c Dr. To Tmt. Chitra A/c (Tmt. Chitra settled her account)	1,26,000	1,26,000

Ledger Account of Tmt.Rani Cash Account
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2003 Sep. 1	To Tmt. Rani's Capital A/c	3,00,000	2003 Sep. 5	By I.O.B. A/c	50,000
28	To Tmt. Chitra's A/c	1,26,000	18	By Tmt. Sumathi A/c	90,000
			31	By Balance c/d	2,86,000
		4,26,000			4,26,000
2003 Oct. 1	To Balance b/d	2,86,000

Tmt.Rani's Capital Account
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2003 Sep. 30	To Balance c/d	3,00,000	2003 Sep. 1	By Cash A/c	3,00,000
		3,00,000			3,00,000
			2003 Oct. 1	By Balance b/d	3,00,000

Indian Overseas Bank Account
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2003 Sep. 5	To Cash A/c	50,000	2003 Sep. 30	By Balance c/d	50,000
		50,000			50,000
2003 Oct. 1	To Balance b/d	50,000

Purchases Account
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2003 Sep. 12	To Tmt. Sumathi's A/c	90,000	2003 Sep. 30	By Balance c/d	90,000
		90,000			90,000
2003 Oct. 1	To Balance b/d	90,000

Tmt.Sumathi's Account
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2003 Sep. 18	To Cash A/c	90,000	2003 Sep. 12	By Purchases A/c	90,000
		90,000			90,000

Tmt.Chitra's Account
Date	Particulars	J.F.	Amount Rs.	Date	Particulars	J.F.	Amount Rs.
2003 Sep. 20	To Sales A/c		1,26,000	2003 Sep. 28	By Cash A/c		1,26,000
			1,26,000				1,26,000

Sales Account
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2003 Sep. 30	To Balance c/d	1,26,000	2003 Sep. 20	By Tmt. Chitra's A/c	1,26,000
		1,26,000			1,26,000
			2003 Oct. 01	By Balance b/d	1,26,000

In the books of Mr.Ravi Journal Entries
Date	Particulars	Debit Rs.	Credit Rs.
2016 June 1	Cash A/c Dr. To Ravi's Capital A/c (Amount invested in business)	5,00,000	5,00,000
3	Bank A/c Dr. To Cash A/c (Amount paid into bank)	80,000	80,000
5	Building A/c Dr. To Cash A/c (Buildings purchased)	3,00,000	3,00,000
10	Cash A/c Dr. To Sales A/c (Cash Sales)	80,000	80,000
15	Cash A/c Dr. To Bank A/c (Amount drawn from bank)	10,000	10,000
30	Salary A/c Dr. To Cash A/c (Salary paid)	15,000	15,000

Ledger Account Cash Account
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
2016 June 1	To Ravi's Capital A/c	5,00,000	2016 June 3	By Bank A/c	80,000
10	To Sales A/c	80,000	5	By Building A/c	3,00,000
15	To Bank A/c	10,000	30	By Salary A/c	15,000
			30	By Balance c/d	1,95,000
		5,90,000			5,90,000
2016 July 01	To Balance b/d	1,95,000