GURU HARKRISHAN PUBLIC SCHOOL, VASANT VIHAR
CLASS XI ACCOUNTANCY ASSIGNMENT
CHAPTER – 7
Origin of Transactions:
Source Documents of Accountancy
1. Why is the evidence provided by source documents important to accounting?
2. What are source documents of accountancy?
3. Depreciation charged on machinery, which accounting voucher will be prepared for it?
4. Match the source document in column I with the corresponding transaction in column II
Column I Column II
(i) Cash Memo (A) Credit Sales
(ii) Invoice (B) withdrawing cash from bank
(iii) Pay in slip (C) Cash Purchases
Cheque (D) Deposited cash into bank
CHAPTER – 8
Books of Original Entry – Journal
1. Enter the following transactions in the Journal of Sahil Bros:
2016 /October / 1 / Purchased goods from Anil for Cash / 40,000
3 / Purchased goods from Atul / 75,000
6 / Returned goods to Atul / 3,000
8 / Paid cash to Atul / 50,000
10 / Sold goods to Charu / 1,00,000
12 / Charu returned 20% of goods
15 / Paid rent / 2,000
20 / Sahil withdrew for personal use / 10,000
2. Enter the following transactions in the Journal of Ganesh Bros:
2017 /March / 3 / Sold goods to Dev / 1,00,000
5 / Received from Dev in full settlement of his account / 98,000
6 / Sold goods to Manmohan / 80,000
8 / Manmohan returned goods / 1,000
15 / Received from Manmohan in full settlement of his account / 78,200
16 / Received cash from Ram / 19,500
and discount allowed / 500
20 / Paid cash to Pawan / 4,700
and discount received from him / 300
25 / Sold goods to Varun of the list price of 25,000 at 20% trade discount
3. Enter the following transactions in the Journal of Marutinandan Stores:
2017Jan. / 10 / Purchased goods from Ghanshyam of the list price of 50,000 at 15% trade discount.
13 / Returned goods to Ghanshyam of the list price of 2,000.
15 / Paid cash to Ghanshyam 40,000 in full settlement of his account.
20 / Purchased goods Raghu of the list price of 60,000 at 10% trade discount.
22 / Returned goods to Raghu of the list price of 5,000.
25 / Paid cash to Raghu 49,000 in full settlement of his account.
4. Give Journal Entries for the following transactions in the books of Raja Ram & Co.
2017March / 3 / Bought goods for cash of the list price of 80,000 at 10% trade discount and 3% cash discount.
5 / Sold goods for cash of the list price of 1,00,000 at 15% trade discount and 3% cash discount.
6 / Sold goods to Nagpal of the list price of 50,000 at 20% trade discount.
8 / Nagpal returned one-fourth of the above goods.
10 / Nagpal settled the account by paying cash under a discount of 5%.
5. Pass journal entries for the following:
2015Jan. / 6 / Purchased goods from Henry for 50,000 on 10% trade discount and 45 cash discount and paid 605 amount by cheque.
Jan. / 15 / Bought goods from Amit for 2,00,000 at terms 55 cash discount and 205 trade discount. Paid 3/4th of the amount in cash at the time of purchase.
Jan. / 18 / Sold goods to Sherpa at the list price of 50,000 less 20% trade discount and 4% cash discount if the payment is made within 7 days. 75% payment is received by cheque on Jan. 23rd.
Jan. / 25 / Sold goods to Garima for 1,00,000, allowed her 205 trade discount and 5% cash discount if the payment is made within 15 days. She paid 1/4th of the amount by cheque on Feb. 5th and 60% of the remainder on Feb. 15th in cash.
6. Following balances appeared in the books of Radhika Traders as on 1st April, 2017 : -
Assets : Cash 8,000; Cash at Bank 7,000; Stock 30,000; Debtors : 36,000 (Mohan 10,000; Sohan 12,000; Dinesh 14,000); Furniture 5,000; Building 25,000.
Liabilities : Creditors – X 5,000; Y 6,000.
In April, 2017, the following transactions took place:
2017 /April / 2 / Bought goods of the list price of 6,000 from Khanna Brothers less 15%.
3 / Received a draft from Mohan in full settlement and deposited in into Bank. / 9,750
5 / Purchased goods from Suresh of the list price of 8,000 at 20% trade discount and paid him by cheque. / 25,000
8 / Sold goods and received a cheque
10 / Deposited the above cheque into Bank / 4,000
12 / Sohan deposited in our Bank A/c / 5,600
16 / Paid Income Tax / 7,800
20 / Received a cheque from Sohan and sent to Bank
Discount allowed / 200
2,000
21 / Withdrew from Bank – for office / 2,000
for private use / 4,000
23 / Sent a cheque to X in full settlement of his A/c / 4,900
27 / Cheque of Sohan returned by the bank as dishonoured.
28 / Dinesh was declared insolvent and a payment of 60 paise in a received from his estate.
30 / Bank allowed Interest / 350
Paid for Rent by cheque / 1,500
Paid for travelling expenses by cheque / 500
Pass Journal entries for the above transactions.
7. Prepare journal from the transactions given below:
(a) Proprietor withdrew for private use 10,000 from bank.
(b) Goods costing 50,000 were burnt by fire.
(c) Purchased machinery for cash 1,50,000 and paid 2,000 on its installation.
(d) Charge 5% depreciation on building costing 2,00,000 and 8% depreciation on furniture costing 2,000.
(e) Kapil who owed us 20,000 becomes insolvent and nothing is received from his estate.
8. Journalize the following:
(i) Received a V.P.P. from Mohan Lal for 2,500. Sent a peon to collect it who paid 20 as cartage.
(ii) Received 100 from sales of old newspapers and 500 from sales of old chairs.
(iii) Goods given away as charity goods costing 700.
(iv) Received Cash from a debtor written off as bad-debt last year 2,000.
(v) Sold goods costing 5,000 to Ashok on credit at a profit of 20% on cost.
(vi) Sold goods costing 10,000 for 14,000.
(vii) Provide 5,000 as interest on Capital.
(viii) Paid rent of building 6,000. Half the building is used by the proprietor for residential purpose.
(ix) Outstanding salary at the end of the year 3,000.
9. Journalize the following transactions : -
1. Purchased a Motor Car for 60,000 and paid 5,000 for its repair and renewal.
2. Received Rent 500.
3. Goods worth 2,000 were distributed as free samples.
4. Charge depreciation on Motor Car 6,500.
5. Rent due to Landlord 1,000 and Salary due to Clerks 8,000.
6. Charge interest on Capital 500.
7. 750 due from Sanjay Gupta are bad-debts.
8. Goods worth 5,000 were destroyed by fire.
9. Cash 500 and goods worth 2,000 were stolen by an employee.
10. Fill in the missing information in the following journal entries:
JOURNAL
S. No. / Particulars / L.F. / Amount Dr. / Amount Cr.
(i) /
Dr.
To
(Goods costing 2,00,000 destroyed by fire) /
– /
–
(ii) / Gursharan Dr.
To
To
(Payment made by cheque and discount received at 4%) / – / –
2,400
(iii) / Dr.
To
(Salary outstanding at the end of the year) / 25,000 / 25,000
(iv) / Dr.
To
(Depreciation provided on Computers costing
1,50,000 @ 20% p.a.) / – / –
(v) / Dr.
To
To
(Goods of the list price of 40,000 purchased at 15%
Trade Discount and 5% cash discount) / – / –
–
CHAPTER –9
Ledger
1. Enter the following transactions in Purchases Book and post it into Ledger :
2017January 5 / Bought goods from Rahul Bajaj on credit for 25,000.
13 / Purchased goods from Ganesh Industries on credit of the list price of 12,000 less 20% trade discount.
18 / Purchased Furniture for 5,000 for office use.
28 / Purchased goods from Vijay Modi for 10,000 at 1212% discount.
CHAPTER – 10
Books of Original Entry – Cash Book
1. Write one difference between Cash Account and Cash Book.
2. What are Contra Entries?
3. Give two advantages of Petty Cash Book.
4. Under this system, the petty cashier is given a definite sum, say 2,500, at the beginning of a certain period. This amount is called ‘imprest amount’. The petty cashier goes on paying all petty expenses out of this imprest amount and records them in the petty cash book maintained by him. At the end of the given period, say after a month, the chief cashier reimburses the amount actually spent by the petty cashier.
5. Enter the following transactions in a Single Column Cash Book:
2017 /Feb. 1 / Mr. Vipin commenced business with Cash / 2,00,000
3 / Opened a Bank Account and deposited / 75,000
5 / Purchased goods for Cash / 30,000
7 / Purchased goods / 15,000
10 / Purchased goods from Surya Kant / 40,000
12 / Paid to Surya Kant / 38,800
Discount received / 1,200
15 / Paid Wages in Cash / 22,500
16 / Paid to casual labour / 1,500
20 / Sold goods to Dev Raj for Cash / 80,000
25 / Paid electricity bill in Cash / 12,000
26 / Withdrew Cash from Bank / 40,000
27 / Received for Cash sales / 5,000
27 / Paid for miscellaneous expenses / 500
6. Enter the following transactions in a Single Column Cash Book of M/s Suchitra Sen & Co. :
2017 /March 1 / Cash in Hand / 1,20,000
2 / Bought machinery for 60,000 and paid carriage / 2,000
4 / Bought goods for 25,000 and paid carriage / 1,000
5 / Bought goods from Ravi Das / 15,000
6 / Cash received from sale of Motor bike / 5,000
8 / Sold goods for cash less 5% cash discount / 20,000
10 / Sold goods / 40,000
12 / Paid to Ravi Das on account / 10,000
15 / Bought goods from Suresh for cash less 4% cash discount / 30,000
20 / Paid to Ravi Dass
Discount received / 4,500
500
25 / Cash collected from Ashok (Debtor) / 10,000
28 / Purchased postal stamps / 500
28 / Salary paid to accountant / 15,000
7. Write up Cash Book of Bhanu Partap with Cash and Bank of Columns from the following transactions:-
2017 /March 1 / Cash in Hand / 2,710
Cash at Bank / 27,500
3 / Received from Subhash / 3,500
4 / Sold goods for cash / 10,000
7 / Paid Rent by Cheque / 800
8 / Paid Sohan by cheque / 3,000
10 / Bought goods for cash / 15,000
12 / Paid cash for stationary / 200
Drew from Bank for office use / 8,000
15 / Received cheque from Surendra and sent it to Bank / 6,600
16 / Paid for advertisement / 750
18 / Issued cheque in favour of Nath Brothers / 4,300
19 / Cash sales / 13,000
Paid into Bank / 16,000
20 / Received cheque from Vinod and sent it to Bank. / 2,400
22 / Bought Scooter and paid for the same by cheque / 18,000
25 / Bank returned Surendra’s cheque dishonored
28 / Paid salary by cheque / 7,200
Paid Trade expenses / 2,000
29 / Cash sales / 9,500
30 / Paid into Bank / 10,000
8. Enter the following transactions in the Cash Book with Cash and Bank Columns : -
2017April 1 / Balance of Cash in hand 400, overdraft at Bank 5,000.
4 / Invested further capital 10,000 out of which 6,000 deposited into the bank.
5 / Sold goods for cash 3,000.
6 / Received from Ghanshyam 8,000; discount allowed to him 200.
10 / Purchased goods for Cash 5,500.
11 / Paid to Ram Vilas, our creditor 2,500; discount allowed by him 65.
13 / Commission paid to our agent 530.
14 / Office furniture purchased from Keshav in cash 200.
14 / Rent paid 50.
14 / Electricity charges paid 10.
16 / Drew cheque for personal use 850.
17 / Cash sales 2,500.
18 / Collection from Atul 4,000, deposited in the bank on 19th April.
19 / Drew from the bank for office use 500.
24 / Dividend received by cheque 50, deposited in the bank on the same day.
25 / Commission received by cheque 230, deposited in the bank on 28th April.
29 / Drew from the bank for salary of the office staff 1,500.
29 / Paid salary of the manager by cheque 500.
30 / Deposited cash in the bank 1,000.
9. Enter the following transactions in the Two Column Cash Book of Mr. Mohan : -
2017 /Jan. 1 / Cash in Hand / 2,200
Cash at Bank / 5,000
5 / Received a cheque from Naresh / 1,000
8 / Cheque received from Naresh endorsed to Suresh in full settlement of his account of 1,050
10 / Paid Life Insurance premium of Mr. Mohan / 100
13 / Received a cheque from Pawan in full settlement of his account of 750. / 700
16 / Pawan’s cheque returned dishonoured by bank. / ––
20 / Deposited into Bank, balance of Cash in excess of 250
10. Prepare a Cash Book with Cash and Bank Columns from the following transactions :-