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

Published on: 30/06/2021

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Questions:

Generic 5

5 x 5 = 25

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

2013, Sept.	1 Rani started business with	Rs. 3,00,000
	5 Opened a current account with Indian Overseas Bank	Rs. 50,000
	12 Bought goods from Sumathi	Rs. 90,000
	18 Paid to Sumathi	Rs. 90,000
	20 Sold goods to Chitra	Rs. 1,26,000
	28 Chitra settled her account

Journalise the following transactions in the Journal of Mr. Shanmugam, post them in the ledger and balance them

2013, Aug.	1 Started business with	Rs. 4,50,000
	3 Goods purchased	Rs. 70,000
	5 Goods sold	Rs. 51,000
	10 Goods purchased from Rangasamy	Rs. 2,00,000
	16 Goods returned to Rangasamy	Rs. 5,000
	27 Settled Rangasamy's account

Record the following transactions in the Journal of Mr. Radhakrishnan and post them in the ledger and balance the same.

2014, Jan.	1	Radhakrishnan commenced business with cash, Rs 15,00,000
	3	Paid into Bank Rs 5,00,000
	5	Bought goods for Rs 3,60,000
	10	Sold goods for Rs 2,50,000
	15	old goods to Balan Rs 2,40,000

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

2014, June 1	Ravi invested Rs. 5,00,000 cash in the business
5	Purchased building for Rs. 3,00,000
7	Purchased goods for Rs. 70,000
10	Sold goods for Rs. 80,000
25	Paid electric charges Rs. 3,000

Enter the following transactions in the journal and ostthem- in the ledger of Mr. Govindarajan and balance them.

2003 Aug 1	Govindarajan commenced his business with the following assets and liabilities
	Plant and Machinery Rs.2,50,000
	Stock Rs.90,000, Furniture Rs.7,000
	Cash Rs.50,000, Sundry' Creditors Rs.1,50,000
2	Sold goods to Sundar Rs.1,50,000
3	Bought goods from Natarajan Rs.65,000
4	Sundar paid cash Rs.1,25,000
6	Returned damaged goods to Natarajan Rs.2,000
10	Paid to Natarajan Rs.28,000
31	Paid rent Rs.5,000
	Paid Salaries Rs.9,000

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Answers Key:

Generic 5

5 x 5 = 25

Journal Entries of Rani
Date	Particulars		Debit Rs.	Credit Rs.
1.9.13	Cash A/c	Dr.	3,00,000
	To Rani's Capital A/c			3,00,000
	(Amount invested in business)
5.9.13	Indian Overseas Bank A/c	Dr.	50,000
	To Cash A/c			50,000
	(Bank account opened and amount paid into bank)
12.9.13	Purchases A/c	Dr.	90,000
	To Sumathi A/c			90,000
	(Credit purchases)
18.9.13	Sumathi A/c	Dr.	90,000
	To Cash A/c			90,000
	(Sumathi's account settled)
20.9.13	Chitra A/c	Dr.	1,26,000
	To Sales A/c			1,26,000
	(Credit sales)
28.9.13	cash A/c	Dr.	1,26,000
	To Chitra A/c			1,26,000
	(Chitra settled her account)

Dr. Ledger Accounts of Rani Cash A/c Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
1.9.13	To Rani's Capital A/c	3,00,000	5.9.13	By I.O.B. A/c	50,000
28.9.13	To Chitra A/c	1,26,000	30.9.13	By Balance c/d	2,86,000
		4,26,000			4,26,000
1.10.13	To Balance b/d	2,86,000

Dr. Rani's Capital A/c Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
30.9.13	To Balance c/d	3,00,000	1.9.13	By Cash A/c	3,00,000
		3,00,000			3,00,000
			1.10.13	By Balance b/d	3,00,000

Dr. Indian Overseas Bank A/c Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
5.9.13	To Cash A/c	50,000	30.9.13	By Balance c/d	50,000
		50,000			50,000
1.10.13	To Balnce b/d	50,000

Dr. Purchases A/c Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
12.9.13	To Sumathi A/c	90,000	30.9.13	By Balance c/d	90,000
		90,000			90,000
1.10.13	To Balance b/d	90,000

Dr. Sumathi A/c Cr.
Date	Particulars	J.F.	Amount Rs.	Date	Particulars	J.F.	Amount Rs.
18.9.13	To Cash A/c		90,000	12.9.13	By Purchases A/c		90,000
			90,000				90,000

Dr. Chitra A/c Cr.
Date	Particulars	J.F.	Amount Rs.	Date	Particulars	J.F.	Amount Rs.
20.9.13	To Sales A/c		1,26,000	28.9,13	By Cash A/c		1,26,000
			1,26,000				1,26,000

Dr. Sales A/c Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
30.9.13	To Blance c/d	1,26,000	20.9.13	By Chitra A/c	1,26,000
		1,26,000			1,26,000
			1.10.13	By Balance b/d	1,26,000

Journal Entries of Mr. Shanmugam
Date	Particulars		Debit Rs.	Credit Rs.
1.8.13	Cash A/c	Dr.	4,50,000
	To Shanmugam's Capital A/c			4,50,000
	(Amount invested in business)
3.8.13	Purchases A/c	Dr.	70,000
	To Cash A/c			70,000
	(Cash purchases)
5.8.13	Cash A/c	Dr.	51,000
	To Sales A/c			51,000
	(Cash sales)
10.8.13	Purchases A/c	Dr.	2,00,000
	To Rangasamy A/c			2,00,000
	(Credit purchases)
16.8.2013	Rangasamy A/c	Dr.	5,000
	To Purchases returns A/c			5,000
	(Goods returned to Rangasamy)
27.8.13	Rangasamy A/c	Dr.	1,95,000
	To Cash A/c			1,95,000
	(Rangasamy's Account settled)

Dr. Ledger Accounts of Mr. Shanmugam Cash A/c Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
1.8.13	To Shanmugam's Capital A/c	4,50,000	3.8.13	By Purchases A/c	70,000
5.8.13	To Sales A/c	51,000	27.8.13	By Rangasamy A/c	1,95,000
			31.8.13	By Balance c/d	2,36,000
		5,01,000			5,01,000
1.9.13	To Balance b/d	2,36,000

Dr. Shanmugam's Capital A/c Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
31.8.13	To Balance c/d	4,50,000	1.8.13	By Cash A/c	4,50,000
		4,50,000			4,50,000
			1.9.13	By Balance b/d	4,50,000

Dr. Purchases A/c Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
3.8.13	To Cash A/c	70,000	31.8.13	By Balance c/d	2,70,000
10.8.13	To Rangasmy A/c	2,00,000
		2,70,000			2,70,000
1.9.13	To Balance b/d	2,70,000

Dr. Sales A/c Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
31.8.13	To Balance c/d	51,000	5.8.13	By Cash A/c	51,000
		51,000			51,000
			1.9.13	By Balance b/d	51,000

Dr. Rangasamy A/c Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
16.8.13	To Purchases returns A/c	5,000	10.8.13	By Purchases A/c	2,00,000
27.8.13	To Cash A/c	1,95,000
		2,00,000			2,00,000

Dr. Purchases returs A/c Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
31.8.13	To Balance c/d	5,000	16.8.13	By Rangasamy A/c	5,000
		5,000			5,000
			1.9.13	By Balance b/d	5,000

Journal Entries of Mr. Radhakrishnan
Date	Particulars		Debit Rs	Credit Rs
1.1.14	Cash A/c	Dr.	15,00,000
	To Radhakrishnan's Capital A/c			15,00,000
	(Amount invested in business)
3.1.14	Bank A/c	Dr.	5,00,000
	To Cash A/c			5,00,000
	(Amount paid into bank)
5.1.14	Purchases A/c	Dr.	3,60,000
	To Cash A/c			3,60,000
	(Cash purchases)
10.1.14	Cash A/c	Dr.	2,50,000
	To Sales A/c			2,50,000
	(Cash sales)
15.1.14	Balan A/c	Dr.	2,40,000
	To Sales A/c			2,40,000
	(Credit sales)

Dr. Ledger Accounts of Mr. Radhakrishnan Cash A/c Cr.
Date	Particulars	Amount Rs	Date	Particulars	Amount Rs
1.1.14	To Radhakrishnan's Capital A/c	15,00,000	3.1.14	By Bank A/c	5,00,000
10.1.14	To Sales A/c	2,50,000	5.1.14	By Purchases A/c	3,60,000
			31.1.14	By Balance c/d	8,90,000
		17,50,000			17,50,000
1.2.14	To Balance b/d	8,90,000

Dr. Radhakrishnan's Capital A/c Cr.
Date	Particulars	Amount Rs	Date	Particulars	Amount Rs
31.1.14	To Balance c/d	15,00,000	1.1.14	By Cash A/c	15,00,000
		15,00,000			15,00,000
			1.2.14	Bv Balance b/d	15,00,000

Dr. Bank A/c Cr.
Date	Particulars	Amount Rs	Date	Particulars	Amount Rs
3.1.14	To Cash A/c	5,00,000	30.1.14	By Balance c/d	5,00,000
		5,00,000			5,00,000
1.2.14	To Balance b/d	5,00,000

Dr. Purchases A/c Cr.
Date	Particulars	Amount Rs	Date	Particulars	Amount Rs
5.1.14	To Cash A/c	3,60,000	31.1.14	By Balance c/d	3,60,000
		3,60,000			3,60,000
1.2.14	To Balance b/d	3,60,000

Dr. Sales A/c Cr.
Date	Particulars	Amount Rs	Date	Particulars	Amount Rs
31.1.14	To Balance c/d	4,90,000	10.1.4	By Cash A/c	2,50,000
			15.1.14	By Balan's A/c	2,40,000
		4,90,000			4,90,000
			1.2.14	By Balance b/d	4,90,000

Dr. Balan A/c Cr.
Date	Particulars	Amount Rs	Date	Particulars	Amount Rs
15.1.14	To Sales A/c	2,40,000	31.1.14	By Balance c/d	2,40,000
		2,40,000			2,40,000
1.2.14	To Balance b/d	2,40,000

Journal Entries of Mr. Ravi
Date	Particulars		Debit Rs.	Credit Rs.
1.6.14	Cash A/c	Dr.	5,00,000
	To Ravi's Capital A/c			5,00,000
	(Amount invested in business)
5.6.14	Buildings A/c	Dr.	3,00,000
	To Cash A/c			3,00,000
	(Buildings purchased)
7.6.14	Purchases A/c	Dr.	70,000
	To Cash A/c			70,000
	(Cash purchases)
10.6.14	Cash A/c	Dr.	80,000
	To Sales A/c			80,000
	(Cash sales)
25.6.14	Electric charges A/c	Dr.	3,000
	To Cash A/c			3,000
	(Electric charges paid)

Dr. Cash A/c Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
1.6.14	To Ravi's Capital A/c	5,00,000	5.6.14	By Buildings A/c	3,00,000
10.6.14	To Sales A/c	80,000	7.6.14	By Purchases A/c	70,000
			25.6.14	By Electric charges A/c	3,000
			30.6.14	By Balance c/d	2,07,000
		5,80,000			5,80,000
1.7.14	To Balance b/d	2,07,000

Dr. Ravi's Capital A/c Cr.
Date	Particulars	Amount Rs	Date	Particulars	Amount Rs
30.6.14	To Balance c/d	5,00,000	1.6.14	By Cash A/c	5,00,000
		5,00,000			5,00,000
			1.7.14	By Balance b/d	5,00,000

Dr. Buildings A/c Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
5.6.14	To Cash A/c	3,00,000	30.6.14	By Balance c/d	3,00,000
		3,00,000			3,00,000
1.7.14	To Balance b/d	3,00,000

Dr. Purchases A/c Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
7.6.14	To Cash A/c	70,000	30.6.14	By Balance c/d	70,000
		70,000			70,000
1.7.14	To Balance b/d	70,000

Dr. Sales A/c Cr.
Date	Particulars	Amount Rs	Date	Particulars	Amount Rs
30.6.14	To Balance c/d	80,000	10.6.14	By Cash A/c	80,000
		80,000			80,000
			1.7.14	By Balance b/d	80,000

Dr. Electric charges A/c Cr.
Date	Particulars	Amount Rs.	Date	Particulars	Amount Rs.
25.6.14	To Cash A/c	3,000	30.6.14	By Balance c/d	3,000
		3,000			3,000
1.7.14	To Balance b/d	3,000

Journal of Mr. Govindarajan
Date	Particulars		Debit Rs.	Credit Rs.
2003 Aug 1	Cash A/c	Dr	50000
	Stock A/c	Dr	90000
	Furniture A/c	Dr	7000
	Plant and Machinery A/c	Dr	250000
	To Sundry Creditors A/c			150000
	To Capital A/c			247000
	(Being business commenced)
Aug 2	Sundar A/c	Dr	150000
	To Sales A/c			150000
	(Being Credit Sales)
Aug 3	Purchases A/c	Dr	65000
	To Natarajan A/c			65000
	(Being credit purchases)
Aug 4	Cash A/c	Dr	125000
	To Sundar A/c			125000
	(Being cash received)
Aug 6	Natarajan A/c	Dr	2000
	To Purchases return A/c			2000
	(Being good returned)
Aug 10	Natarajan A/c	Dr	28000
	To Cash A/c			28000
	(Being cash received)
Aug 31	Rent A/c	Dr	5000
	To Cash A/c			5000
	(Being rent paid)
Aug 31	Salaries A/c	Dr	9000
	To Cash A/c			9000
	(Being salary paid)

Dr. Ledger Accounts of R. Govindarajan Cash Account Cr.
Date	Particulars	Rs	Date	Particulars	Rs
2003 Aug 1	To Balance b/d	50000	2003 Aug 10	By Natarajan A/c	28000
Aug 4	To Sundar A/c	125000	Aug 31	By Rent A/c	5000
			Aug 31	By Salaries A/c	9000
			Aug 31	By Balance c/d	133000
		175000			175000
2003 Sep 1	To Balance b/d	133000

Dr. Stock Account Cr.
Date	Particulars	Rs.	Date	Particulars	Rs.
2003 Aug 1	To Balance b/d	90000	2003 Aug 31	By Balance c/d	90000
		90000			90000
2003 Sep 1	To Balance b/d	90000

Dr. Furniture Account Cr.
Date	Particulars	JF	Date	Particulars	Rs.
2003 Aug 1	To Balance b/d	7000	2003 Aug 31	By Balance c/d	7000
		7000			7000
2003 Sep 1	To Balance b/d	7000

Dr. Plant and Machinery Account Cr.
Date	Particulars	Rs.	Date	Particulars	Rs.
2003 Aug 1	To Balance b/d	250000	2003 Aug 31	By Balance c/d	250000
		250000			250000
2003 Sep 1	To Balance b/d	250000

Dr. Capital Account Cr.
Date	Particulars	Rs	Date	Particulars	Rs.
2003 Aug 31	To Balance c/d	247000	2003 Aug 1	By Balance b/d	247000
		247000			247000
			2003 Sep 1	By Balance b/d	247000

Dr. Sundar Account Cr.
Date	Particulars	Rs.	Date	Particulars	Rs.
2003 Aug 2	To Sales A/c	150000	2003 Aug 4	By Cash A/c	125000
			Aug 31	By Balance c/d	25000
		150000			150000
		25000

Dr. Sales Account Cr.
Date	Particulars	Rs.	Date	Particulars	Rs.
2003 Aug 31	To Balance c/d	150000	2003 Aug 2	By Sundar A/c	150000
		150000			150000
			2003 Sep 1	By Balance b/d	150000

Dr. Purchases Account Cr.
Date	Particulars	Rs.	Date	Particulars	Rs.
2003 Aug 3	To Natarajan A/c	65000	2003 Aug 31	By Balance c/d	65000
		65000			65000
2003 Sep 1	To Balance b/d	65000

Dr. Natarajan Account Cr.
Date	Particulars	Rs.	Date	Particulars	Rs.
2003 Aug 6	To Purchases return A/c	2000	2003 Aug 31	By Purchases A/c	65000
Aug 10	To Cash A/c	28000
Aug 31	To Balance c/d	35000
		65000			65000
			2003 Sep 1	By Balance b/d	35000