CBSE Class 11

TS Grewal Accountancy Class 11 Solutions Chapter 6 Ledger are part of TS Grewal Accountancy Class 11 Solutions. Here we have given TS Grewal Accountancy Class 11 Solutions Chapter 6 Ledger.

TS Grewal Accountancy Class 11 Solutions Chapter 6 Ledger

Question 1.
On 1st April, 2018, Mohit started business with a capital of ₹ 50,000. He made the following transactions:

You are required to journalise the above transactions and show the respective Ledger accounts.
Solution:

Question 2.
Suresh, Kanpur commenced business on 1st January, 2018 introducing capital in cash ₹ 1,00,000. His other transactions during the month were as follows:

Enter the above transactions in his books of account.
Solution:

Question 3.
Journalise the following transactions in the books of Afzal, Kolkata and post them to the Ledger:

Intra-state transactions are subject to levy of CGST and SGST @ 6% each whereas inter-state transactions are subject to levy of IGST @ 12%. Out of the above transactions, transactions marked (*) are not subject to levy of GST.
Solution:

Question 4.
Pass Journal entries of M/s. Bhanu Traders, Delhi from the following transactions. Post them to the Ledger:

Intra-state transactions are subject to levy of CGST and SGST @ 6% each whereas inter-state transactions are subject to levy of IGST @ 12%. Out of the above transactions marked (*) are not subject to levy of GST.
Solution:

Question 5.
Journalise the following transactions in the Journal of M/s. Gupta Brothers (Prop. Shri R. K. Gupta), Delhi and post them to the Ledger:

Inter-state transactions are subject to levy of IGST @ 12% and Intra-state transactions are subject to levy of CGST and SGST @ 6% each. GST is not levied on transactions marked with (*).
Solution:

Question 6.
Following balances appeared in the books of Ashok, Delhi on 1st April, 2018:
Assets: Cash – ₹ 50,000; Stock – ₹ 30,000; Debtors – Ram ₹ 50,000; Machinery – ₹ 60,000.
Liabilities: Creditor – Rajesh ₹ 30,000.
The following transactions took place in April, 2018:

CGST and SGST @ 6% each is levied on intra-state transactions and IGST is levied @ 12% on inter-state transactions. Transactions marked (*) are not subject to levy of GST.
Pass Journal entries for the above transaction, post them into the Ledger and prepare the Trial Balance on 30th April, 2018.
Solution:

Question 7.
On 1st April, 2018, the following were Ledger balances of M/s. Ram & Co., Delhi: Cash in Hand – ₹ 300; Cash at Bank – ₹ 7,000; Bills Payable – ₹ 1,000; Zahir (Dr.) – ₹ 800; Stock – ₹ 4,000; Gobind (Cr.) – ₹ 2,000; Sharma (Dr.) – ₹ 1,500; Rahul (Cr.) – ₹ 900; Capital – ₹ 9,700. Transactions during the month of April, 2018 were:

Inter-state transactions are subject to levy of IGST @ 12% and Intra-state transactions are subject to levy of CGST and SGST @ 6% each. GST is not levied on transactions marked with (*).
Post the above transactions to the Ledger and prepare the Trial Balance on 30th April, 2018.
Solution:

Question 8.
You are to open the books of Rajesh Prabhu, Gurugram (Haryana) a trader, through the Journal to record the assets and liabilities and then to record the daily transactions for the month of April, 2018. A Trial Balance is to be extracted as on 30th April, 2018:

Inter-state transactions are subject to levy of IGST @ 12% and Intra-state transactions are subject to levy of CGST and SGST @ 6% each. GST is not levied on transactions marked with (*).
Solution:

Question 9.
Enter the following transactions in the Journal of M/s. Karim Bros., Prop. Shri Karim Khan, Kolkata, post to the Ledger and prepare the Trial Balance:

Inter-state transactions are subject to levy of IGST @ 12% and Intra-state transactions are subject to levy of CGST and SGST @ 6% each. GST is not levied on transactions marked with (*).
Solution:

Question 10.
Write up the following transactions in the Journal of Ashok, Delhi and post them to the Ledger for April, 2018. Also, prepare the Trial Balance as on 30th April, 2018.

Solution:

Question 11.
Shri S. K. Gupta, Chandigarh commenced business on 1st April, 2018 with a capital of ₹ 1,20,000 of which ₹ 60,000 was paid into his Bank Account and ₹ 60,000 retained as cash. His other transactions during the month were as follows:

Inter-state transactions are subject to levy of IGST @ 12% and Intra-state transactions are subject to levy of CGST and SGST @ 6% each. GST is not levied on transactions marked with (*).
Journalise the above transactions and post them to the Ledger.
Solution:

Question 12.
Journalise the following transactions in the books of Shri Manoj, Kolkata and prepare Ledger Accounts.
Opening Debit Balances:
Cash in Hand – ₹ 15,000; Cash at Bank – ₹ 55,000; Stock – ₹ 28,000; Debtors – ₹ 25,000 (Sunil – ₹ 5,000; Abhay – ₹ 10,000 and Alok – ₹ 10,000); Fixed Assets: Computer and Printer – ₹ 50,000; Furniture – ₹ 10,000; Delivery Van – ₹ 25,000.
Opening Credit Balances:
Bank Loan – ₹ 90,000; Salaries Outstanding – ₹ 15,000; Creditors – ₹ 20,000; Bills Payable – ₹ 10,000; Capital – ₹ 73,000.
Transactions for the month of April, 2018 were:
(i) Purchased goods from M/s Prabhat Electricals – ₹ 10,000 less 10% Trade Discount. Cheque was issued immediately and availed 2% Cash Discount on purchase price.
(ii) Cheque was received from Abhay for the balance allowing him discount of 2%*.
(iii) Cheque was received from Alok for the balance due*.
(iv) Sunil was unable to pay the full dues and offered to pay 75%, which was accepted. Cheque was duly received*.
(v) Gave goods costing ₹ 1,000 as charity. These goods were purchased in Kolkata.
(vi) In a competition held by the RWA where the shop is located an electric iron costing ₹ 500 was given as an award. It had been purchased from Prabhat Electricals, Delhi.
(vii) A debt of ₹ 10,000 that was written off as bad debt in the past was received*.
(viii) Salaries amounting to ₹ 15,000 provided in the books for the month of March, 2018 were paid through cheque*.
(ix) Sales for the month were: Cash Sales ₹ 15,00,000 (Intra-state) and Credit Sales ₹ 3,00,000 (Inter-state).
(x) Purchases for the month were: Cash Purchases ₹ 1,00,000 (Intra-state) and Credit Purchases (Inter-state) ₹ 9,00,000.
Cheques Received from Debtors ₹ 2,00,000; Deposited Cash ₹ 15,00,000.
(xi) Paid to creditors through cheques ₹ 8,90,000*.
(xii) Bank Loan repaid during the month ₹ 20,000*.
Inter-state transactions are subject to levy of IGST @ 12% and Intra-state transactions are subject to levy of CGST and SGST @ 6% each. GST is not levied on transactions marked with (*).
Solution:

We hope the TS Grewal Accountancy Class 11 Solutions Chapter 6 Ledger help you. If you have any query regarding TS Grewal Accountancy Class 11 Solutions Chapter 6 Ledger, drop a comment below and we will get back to you at the earliest.

TS Grewal Accountancy Class 11 Solutions Chapter 2 Accounting Equation are part of TS Grewal Accountancy Class 11 Solutions. Here we have given TS Grewal Accountancy Class 11 Solutions Chapter 2 Accounting Equation.

TS Grewal Accountancy Class 11 Solutions Chapter 2 Accounting Equation

Question 1.
What will be effect of the following on the Accounting Equation?
(i) Started business with cash ₹ 45,000
(ii) Opened a Bank Account with a deposit of ₹ 4,500
(iii) Bought goods from M/s. Sun & Co. for ₹ 11,200
Solution:

Question 2.
Show the Accounting Equation for the following transactions:

Solution:

Question 3.
Show the effect of the following transactions on the Accounting Equation:
(i) Started business with cash ₹ 50,000.
(ii) Salaries paid ₹ 2,000.
(iii) Wages Outstanding ₹ 200.
(iv) Interest due but not paid ₹ 100.
(v) Rent paid in advance ₹ 150.
Solution:

Question 4.
What will be the effect of the following on the Accounting Equation?
(i) Harish started business with cash ₹ 18,000
(ii) Purchased goods for Cash ₹ 5,000 and on credit ₹ 2,000
(iii) Sold goods for cash ₹ 4,000 (costing ₹ 2,400)
(iv) Rent paid ₹ 1,000 and Rent Outstanding ₹ 200
Solution:

Question 5.
Prepare Accounting Equation from the following:
(i) Started business with cash ₹ 1,00,000 and Goods ₹ 20,000.
(ii) Sold goods worth ₹ 10,000 for cash ₹ 12,000.
(iii) Purchased furniture on credit for ₹ 30,000
Solution:

Question 6.
Prepare an Accounting Equation and Balance Sheet on the following basis:
(i) Ajeet started business ₹ 20,000.
(ii) He purchased furniture for ₹ 2,000.
(iii) He paid rent of ₹ 200.
(iv) He purchase goods on credit ₹ 3,000.
(v) He sold goods (cost price ₹ 2,000) for ₹ 5,000 on cash.
Solution:

Question 7.
Prepare an Accounting Equation from the following:
(i) Started business with cash ₹ 1,00,000.
(ii) Purchased goods for cash ₹ 20,000 and on credit ₹ 30,000.
(iii) Sold goods for cash costing ₹ 10,000 and on credit costing ₹ 15,000 both at a profit of 20%.
Solution:

Question 8.
Develop an Accounting Equation from the following transactions:

Solution:

Question 9.
Prepare an Accounting Equation on the basis of the following transactions:
(i) Started business with Cash ₹ 70,000
(ii) Credit purchase of goods ₹ 18,000
(iii) Payment made to creditor ₹ 17,500 in full settlement
(iv) Purchase of Machinery for Cash ₹ 20,000
(v) Depreciation on Machinery ₹ 2,000
Solution:

Question 10.
Prove that the Accounting Equation is satisfied in all the following transactions of Suresh. Also prepare a Balance Sheet.
(i) Commenced business with cash ₹ 60,000.
(ii) Paid Rent in Advance ₹ 500.
(iii) Purchased goods for Cash ₹ 30,000 and Credit ₹ 20,000.
(iv) Sold goods for Cash ₹ 30,000 Costing ₹ 20,000.
(v) Paid Salary ₹ 500 and Salary Outstanding being ₹ 100.
(vi) Bought motorcycle for personal use ₹ 5,000.
Solution:

Question 11.
Show the effect of the following transactions on assets, liabilities and capital using the Accounting Equation. Also prepare a Balance Sheet:
(i) Started business with Cash ₹ 60,000
(ii) Rent Received ₹ 2,000
(iii) Accrued Interest ₹ 500
(iv) Commission received in advance ₹ 1,000
(v) Amount withdrawn ₹ 5,000
Solution:

Question 12.
Prove that the Accounting Equation is satisfied in all the following transactions of Sameer Goel:
(i) Started business with cash ₹ 10,000.
(ii) Paid rent in Advance ₹ 300.
(iii) Purchased goods for cash ₹ 5,000 and credit ₹ 2,000.
(iv) Sold goods for cash ₹ 8,000 costing ₹ 4,000.
(v) Paid salary ₹ 450 and salary outstanding being ₹100.
(vi) Bought motorcycle for personal use ₹ 3,000.
Solution:

Question 13.
Show the Accounting Equation on the basis of the following transactions and present a Balance Sheet on the last new equation balance:

Solution:

Question 14.
Raghunath had the following transactions in an accounting year:
(i) Commenced business with cash ₹ 50,000.
(ii) Paid in to bank ₹ 10,000.
(iii) Purchased goods for Cash ₹ 20,000 and Credit ₹30,000.
(iv) Sold goods for Cash ₹ 40,000 Costing ₹ 30,000.
(v) Rent paid ₹ 500.
(vi) Rent Outstanding ₹ 100.
(vii) Bought furniture ₹5,000 on credit.
(viii) Bought refrigerator for personal use ₹ 5,000.
(ix) Purchased motorcycle for cash ₹ 20,000.
Create an Accounting Equations to show the effect of the above transaction on his assets, liabilities and capital and also show his final Balance Sheet.
Solution:

Question 15.
Prepare an Accounting Equation from the following :
(i) Started business with cash ₹ 50,000 and goods ₹ 30,000.
(ii) Purchased goods for cash ₹ 30,000 and on credit from Karan ₹ 20,000.
(iii) Goods costing ₹ 40,000 were Sold for ₹ 55,000.
(iv) Withdrew cash for personal use ₹ 10,000.
(v) Rent outstanding ₹ 2,000.
Solution:

Question 16.
Show an Accounting Equation for the following transactions:
(i) D. Mahapatra commenced business with cash of ₹ 50,000 and ₹ 1,00,000 by cheque; goods ₹ 60,000; machinery ₹ 1,00,000 and furniture ₹ 50,000.
(ii) 1/3 rd of above goods sold at a profit of 10% on cost, and half of the payment is received in cash.
(iii) Depreciation on machinery provided @ 10%.
(iv) Cash withdrawn for personal use ₹ 10,000.
(v) Interest on drawings charged @ 5%.
(vi) Goods Sold to Gupta for ₹ 10,000 and received a Bill Receivable for the same amount for 3 months.
(vii) Received ₹ 10,000 from Gupta against the Bill Receivable on its maturity.
Solution:

Working Note:
Rs.60,000 × 1/3 = Rs.20,000 × 110% = Rs.22,000
Half received in Cash = Rs.11,000

Question 17.
Prepare Accounting Equation from the following:
(a) Started business with cash ₹ 1,00,000.
(b) Purchase goods for cash ₹ 20,000 and on credit ₹ 30,000.
(c) Sold goods for cash costing ₹ 10,000 and on credit costing ₹ 15,000 both at a profit of 20%.
(d) Paid salaries ₹ 8,000.
Solution:

Question 18.
Show the accounting equation on the basis of following transactions:
(a) Ram started business with ₹ 25,000.
(b) Purchased goods from Shyam ₹ 10,000.
(c) Sold goods to Sohan costing ₹ 1,500 for ₹ 1,800.
Solution:

Question 19.
If the capital of a business is ₹ 3,00,000 and liabilities are ₹ 50,000, loss ₹ 70,000, calculate the total assets of the business.
Solution:
Total Assets = Capital – Loss + Liabilities = Rs.3,00,000 – Rs.70,000 + Rs.50,000 = Rs.2,80,000
Total Assets of the business is Rs.2,80,000

Question 20.
If total assets of a business are ₹ 1,30,000 and net worth is ₹ 80,000, calculate the creditors.
Solution:
Creditors = Total Assets – Net worth = Rs.1,30,000 – Rs.80,000 = Rs.50,000
Creditors is Rs.50,000.

Question 21.
A commenced his cloth business on 1st April, 2017 with a capital of ₹ 30,000. On 31st March 2018, his assets were worth ₹ 50,000 and liabilities of ₹ 10,000. Find out his closing capital and profits earned during the year.
Solution:
Closing Capital = Assets – Liabilities = Rs.50,000 – Rs.10,000 = Rs.40,000
Profit = Closing Capital – Opening Capital = Rs.40,000 – Rs.30,000 = Rs.10,000

Question 22.
If capital of a business is ₹ 1,40,000 and liabilities are of ₹ 80,000, calculate the total assets of the business.
Solution:
Total Assets = Liabilities + Capital = Rs.80,000 + Rs.1,40,000 = Rs.2,20,000
Total Assets of the business is Rs.2,20,000

Question 23.
Calculate the total assets if:
(i) Capital is ₹ 40,000.
(ii) Creditors are ₹ 25,000.
(iii) Revenue during the period is ₹ 50,000.
(iv) Expenses during the period are ₹ 40,000.
Solution:
Capital after Adjustments = Capital + Revenue – Expenses = Rs.40,000 + Rs.50,000 – Rs.40,000 = Rs.50,000
Total Assets = Capital after adjustment + Creditors = Rs.50,000 + Rs.25,000 = Rs.75,000

Question 24.
(a) A had a capital of ₹ 75,000 on 1st April, 2017. He had also goods amounting to ₹ 15,000 which he had purchased on credit and the payment had not been made. Find out the value of the total assets of the business.
(b) After a period of one month, he came to know that he had suffered a loss of ₹ 1,700. He withdrew ₹ 800 for his personal use. Find out his capital and assets of the business.
Solution:
a. Total Assets = Capital + Creditors = Rs. 75,000 + Rs. 15,000 = Rs. 90,000
b. Revised Capital = Capital – Loss – Drawings = Rs. 75,000 – Rs. 1,700 – Rs. 800
i. Revised Capital = Rs. 72,500
Assets = Revised Capital + Creditors = Rs. 72,500 + Rs. 15,000
ii. Assets = Rs. 87, 500

Question 25.
(a) Mohan started a business on 1st April, 2017 with a capital of ₹ 10,000 and borrowed ₹ 3,000 form a friend. He earned a profit of ₹ 5,000 during the year ended 31st March, 2018 and withdrew cash ₹ 4,000 for private use. What is his capital on 31st March, 2018 ?
(b) Mahesh started a business with a capital of ₹ 15,000 on 1st April, 2017. During the year, he made a profit of ₹ 3,000. He owes ₹ 2,500 to suppliers of goods. What is the total of assets in his business on 31st March, 2018 ?
Solution:
Mohan Started the Business
a. Capital on 31st March 2018 = Capital on April 01,2017 + Profit – Drawings
= Rs.10,000 + Rs.5,000 – Rs.4,000 = Rs.11,000
Mahesh Started the Business
b. Total Assets on 31st March 2018 = Capital on April 01, 2017 + Profit + Creditors
= Rs.15,000 + Rs.3,000 + Rs.2,500 = Rs.20,500

Question 26.
Mohan started a business on 1st April, 2017 with a capital of ₹ 25,000 and a loan of ₹ 12,500 borrowed from Shyam. During 2017-18 he had introduced additional capital of ₹ 12,500 and had withdrawn ₹ 7,500 for personal use. On 31st March, 2018 his assets were ₹ 75,000. Find out his capital as on 31st March, 2018 and profit made or loss incurred during the year 2017-18.
Solution:
Mohan Started the Business
Capital on 31st March 2018 = Assets – Loan from Shyam = Rs.75,000 – Rs.12,500 = Rs.62,500
Profit (or Loss) during the year 2017 – 18 = Capital on March 31, 2018 + Drawings – (Capital on April 01,2017 + Additional Capital)
= Rs. 62,500 + Rs. 7,500 – (Rs. 25,000 + Rs. 12,500) = Rs.70,000 – Rs.37,500 = Rs.32,500

Question 27.
On 31st March, 2018, the total assets and external liabilities were ₹ 2,00,000 and ₹ 6,000 respectively. During the year, the proprietor had introduced capital of ₹ 20,000 and withdrawn ₹ 12,000 for personal use. He made a profit of ₹ 20,000 during the year. Calculate the capital as on 1st April, 2017.
Solution:
Capital on 31st March 2018 = Total Assets – External Liabilities = Rs. 2,00,000 – Rs. 6,000 = Rs. 1,94,000
Capital on 01st April 2017 = Capital on March 31, 2018 – Additional Capital + Drawings – Profit
= Rs. 1,94,000 – Rs. 20,000 + Rs. 12,000 – Rs. 20,000 = Rs. 1,66,000

Question 28.
Show an Accounting Equation on the basis of the following transactions:

Solution:

Question 29.
Draw an Accounting Equation on the basis of the following transactions:
​(i) Commenced business with cash ₹ 50,000, cheque ₹ 1,00,000, goods ₹ 30,000 and furniture ₹ 20,000.
(ii) Car, personal asset of the proprietor, was sold for ₹ 1,00,000 against cheque which he deposited in his Savings Account.
(iii) An amount of ₹ 50,000 was transferred from his Savings Account to the firm’s Bank Account.
(iv) A new car was purchased for ₹ 6,00,000 for office use. It was paid by taking loan from Bank of ₹ 5,00,000 and balance by issue of cheque from firm’s Bank Account.
(v) Sold goods to Ajay on credit costing ₹ 4,000 for ₹ 5,000.
(vi) Sold goods for cash costing ₹ 12,000 for ₹ 16,000.
(vii) Purchased good for cash ₹ 40,000.
(viii) Purchased goods on credit for ₹ 20,000.
(ix) Paid rent ₹ 3,000 including ₹ 2,000 in advance.
(x) Paid salaries ₹ 2,000.
(xi) Sold goods costing ₹ 8,000 for ₹ 10,000.
(xii) Salaries outstanding ₹ 1,000.
(xiii) Charge depreciation on furniture ₹ 500.
Solution:



Note: In transaction (ii), there is not impact on the Accounting Equation, therefore it is not shown in the above statement.

We hope the TS Grewal Accountancy Class 11 Solutions Chapter 2 Accounting Equation help you. If you have any query regarding TS Grewal Accountancy Class 11 Solutions Chapter 2 Accounting Equation, drop a comment below and we will get back to you at the earliest.

TS Grewal Accountancy Class 11 Solutions Chapter 1 Basic Accounting Terms are part of TS Grewal Accountancy Class 11 Solutions. Here we have given TS Grewal Accountancy Class 11 Solutions Chapter 1 Basic Accounting Terms.

TS Grewal Accountancy Class 11 Solutions Chapter 1 Basic Accounting Terms

Question 1.
Mr. Gopal started business for buying and selling of readymade garments with ₹ 8,00,000 as an initial investments. Out of this he paid ₹ 4,00,000 for the purchase of garments and ₹ 50,000 for furniture and ₹ 50,000 for computers and the remaining amount was deposited into the bank. He sold some of the ladies and kids garments for ₹ 3,00,000 for cash and some garments for ₹ 1,50,000 on credit to Mr. Rajesh.

Subsequently, he bought men’s garments of ₹ 2,00,000 from Mr.Satish. In the first week of the next month, a fire broke out in his office and stock of garments worth ₹ 1,00,000 was destroyed. Later on, some garments which cost ₹ 1,20,000 were sold for ₹ 1,30,000. Expenses paid during the same period were ₹ 15,000. Mr. Gopal withdrew ₹ 20,000 from business for his domestic use.
From the above, answer the following:
(i) What is the amount of capital with which Mr. Gopal started the business ?
(ii) What fixed assets did he buy?
(iii) What is the value of goods purchased?
(iv) Who is the creditor and state the amount payable to him?
(v) Who is the debtor and what is the amount receivable from him?
(vi) What is the total amount of expenses?
(vii) What is the amount of drawings of Mr. Gopal?
Solution:
(i) Initial capital introduced by Mr. Gopal for starting the business of “Readymade Garments” is Rs.8,00,000.
(ii) He purchased two Fixed Assets i.e., Furniture and Computer. Therefore,
Total Fixed Assets bought by him = Furniture + Computer = Rs.50,000 + Rs.50,000 = Rs.1,00,000
(iii) Value of the goods purchased by Mr. Gopal (Proprietor) = Purchase of Garments + Purchase of Men’s Garments
= 4,00,000 + 2,00,000 = Rs.6,00,000

(iv) The creditor of the business is Mr. Satish with Rs.2,00,000 being payable to him.
(v) The debtor of the business is Mr. Rajesh with Rs.1,50,000 being the amount to be received from him.
(vi) Total amount of expenses is Rs.15,000. (note)
(vii) The amount of drawings of Mr. Gopal is Rs.20,000.
Note: As per this Question correct answer is (vi) Total amount of expenses is Rs.15,000. While, according to the book solution is (vi) Total amount of expenses is Rs.6,15,000.

We hope the TS Grewal Accountancy Class 11 Solutions Chapter 1 Basic Accounting Terms help you. If you have any query regarding TS Grewal Accountancy Class 11 Solutions Chapter 1 Basic Accounting Terms, drop a comment below and we will get back to you at the earliest.

TS Grewal Solutions Class 11

TS Grewal Accountancy Class 11 Solutions Chapter 15 Financial Statements of Sole Proprietorship are part of TS Grewal Accountancy Class 11 Solutions. Here we have given TS Grewal Accountancy Class 11 Solutions Chapter 15 Financial Statements of Sole Proprietorship.

TS Grewal Accountancy Class 11 Solutions Chapter 15 Financial Statements of Sole Proprietorship

Question 1.
State whether the following expenses are capital or revenue in nature:
(i) Expenses on whitewashing and painting of a building purchased to make it ready for use.
(ii) ₹ 10,000 spent on construction platform for a new machine.
(iii) Repair expenses of ₹ 25,000 incurred for whitewashing of factory building.
(iv) Purchased a new car.
Solution:

Question 2.
State with reasons whether the following are Capital or Revenue Expenses:
(i) Excise duty paid on purchase of new machine.
(ii) Wages paid to install a machine.
(iii) Repairs carried out on existing car.
(iv) Office block of building repainted for ₹ 50,000.
(v) Paid telephone bill ₹ 2,500.
Solution:

Question 3.
From the following information determine Gross Profit for the year ended 31st March, 2018.

Solution:
Gross Profit = Sales + Closing Stock – (Opening Stock + Goods Purchased + Freight and Packing)
= 1,90,000 + 30,000 – (25,000 +1,40,000 + 10,000)
= 2,20,000 – 1,75,000
= Rs. 45,000
Note: Packing Expenses on sales (Rs.6,000) is not a Direct Expense. Thus, it not considered while computing the amount of Gross Profit.

Question 4.
Calculate Closing Stock from the following details:

Solution:
Gross Profit on cost = 33\(\frac { 1 }{ 3 }\) %.
Cost = \(\frac { 1 }{ 3 }\)rd.
Gross Profit on sales = \(\frac { 1 }{ 4 }\)th
And, Sales = Cash Sales + Credit Sales = 60,000+40,000 = Rs.1,00,000
So, Gross Profit = 1,00,000 x \(\frac { 1 }{ 4 }\) = Rs.25,000
Cost of Goods Sold = Sales – Gross Profit = 1,00,000 – 25,000 = Rs.75,000
Cost of Goods Sold = Opening Stock + Purchases – Closing Stock
75,000 = 20,000 + 70,000 – Closing Stock
Closing Stock = Rs.15,000

Question 5.
Prepare Trading Account from the transactions givne below:

Solution:

Question 6.
Ascertain Gross Profit the following:

Solution:

Note: Carriage on Sales and Office Rent are not a Direct Expense. Thus, it is not considered while computing the amount of Gross Profit.

Question 7.
From the following information prepare Trading Account for the year ended 31st March, 2018:

Net Realisable Value (Market Value) of stock as on 31st March, 2018 was ₹ 1,20,000.
Solution:

Note: According to the Principle of Conservatism, closing stock is valued at Cost or Market Price, whichever is less. Hence, closing stock is valued at Market Price (i.e., Rs.1,20,000)

Question 8.
From the following information, prepare Trading Account for the year ended 31st March, 2018:
Adjusted Purchases ₹ 6,60,000; Sales ₹ 7,44,000; Closing Stock ₹ 50,400; Freight and Carriage Inwards ₹ 3,600; Wages ₹ 6,000; Freight and Cartage Outwards ₹ 2,000.
Solution:

Note :
1. Freight and Carriage Outwards are not a Direct Expense. Thus, it is not recorded in the trading Account.
2. Adjusted Purchases = Opening Stock + Net Purchases – Closing Stock
Therefore, Closing Stock (Rs.50,400) is not considered while preparing Trading Account.

Question 9.
Following balances appear in the Trail Balance of a firm as on 31st March, 2018:

Prepare Trading Account of the firm.
Solution:

Note: Freight Outwards are not a Direct Expense. Thus, it is not recorded in the Trading Account.

Question 10.
From the following information, prepare Trading account for the year ended 31st March, 2018:
Adjusted Purchases ₹ 5,50,000; Sales ₹ 6,25,000; Freight and Carriage Inwards ₹ 3,000; Wages ₹ 7,000; Freight and Cartage Outwards ₹ 2,500; Closing Stock ₹ 50,000.
Solution:

Note :
1. Freight and Carriage Outwards are not a Direct Expense. Thus, it is not recorded in the Trading Account.
2. Adjusted Purchases = Opening Stock + Net Purchases – Closing Stock
Therefore, Closing Stock (Rs.50,000) is not considered while preparing Trading Account.

Question 11.
From the following figures, calculate Operating Profit:

Solution:
Calculation of Operating Profit
Operating Profit = Net Profit – Rent Received – Gain of sales of Machine + Interest on Loan + Donation
= 1,00,000 – 10,000 – 15,000 + 20,000 + 2,000
= Rs.97,000
Operating Profit = Rs.97,000

Question 12.
From the following, prepare Profit and Loss Account of Sohan Lal as it would appear in the 1st year that ended 31st March, 2018:

The Gross Profit was 45% of sales, which amounted to ₹ 6,50,000.
Solution:

Question 13.
From the following information, prepare Profit and Loss Account for the year ended 31st March, 2018:

Solution:

Question 14.
From the following particular, prepare Balance Sheet as at 31st March, 2018:

Solution:

Question 15.
From the following information, prepare Balance Sheet of a trader as at 31st March, 2018 arranging the assets and liabilities-
(i) in order of permanence and
(ii) in order of liquidity:

Solution:

Question 16.
From the Balance Sheet given below, calculate:
(i) Fixed Assets
(ii) Current Assets
(iii) Current Liabilities
(iv) Working Capital

Solution:
i. Calculation of Fixed Asset
Fixed Assets = Land + Plant + Furniture + Goodwill = 20,000 + 32,000 + 8,000 + 20,000 = Rs.80,000
ii. Calculation of Current Assets
Current Assets = Stock + Debtors + Prepaid Expenses = 48,000 + 36,000 + 400 = Rs.84,400
iii. Calculation of Current Liabilities
Current Liabilities = Creditors + Expenses Accrued + Bank Overdraft + Interest on Loan = 42,000 + 3,200 + 4,800 + 1,000 = Rs. 51,000
iv. Calculation of Working Capital
Working Capital = Current Assets – Current Liabilities = 84,400 – 51,000 = Rs.33,400

Question 17.
Prepare Trading and Profit and Loss Account and Balance Sheet of Jagat Shah as at 31st March, 2018 from the following balances:

The Closing Stock was valued at ₹ 2,00,000.
Solution:

Question 18.
From the following balances, prepare Trading and Profit and Loss Account and Balance Sheet:

Closing Stock was valued at ₹ 30,000.
Solution:

Question 19.
The following are the balances as on 31st March, 2018 extracted from the books of Dass:

The stock on 31st March, 2018 was valued at ₹ 2,40,000.
You are required to prepare Trading Account, Profit and Loss Account and Balance Sheet as at 31st March, 2018.
Solution:

Question 20.
From the following balances of Anand, prepare Trading Account, Profit and Loss Account and Balance Sheet as at 31st March, 2018:

Value of goods on hand (31st March, 2018) was ₹ 1,43,000.
Solution:

Question 21.
From the following balances, prepare Final Accounts of M./s. Raja & Sons for the year ended 31st March, 2018:
Salary ₹ 5,400; Insurance ₹ 2,500; Cash ₹ 400; Purchases ₹ 84,170; Rent Received ₹ 3,150; Drawings ₹ 2,100; Bills Payable ₹ 3,900; Debtors ₹ 38,080; Stock (1st April, 2017) ₹ 29,500; Bank Overdraft ₹ 9,700; Carriage ₹ 2,200; Creditors ₹ 4,200; Trade Expenses ₹ 4,900; Sales Return ₹ 4,700; Machinery ₹ 12,000; Wages ₹ 45,000; Sales ₹ 1,47,200; Purchases Return ₹ 3,900; Capital ₹ 58,900; Closing Stock (31st March, 2018) ₹ 36,200.
Solution:

Question 22.
From the following balances, prepare Final Accounts of M./s. Mangal & Sons for the year ended 31st March, 2018:
Opening Stock ₹ 12,500; Bills Receivable ₹ 2,000; Sales ₹ 70,000; Purchases ₹ 37,500; Creditors ₹ 20,000; Salaries ₹ 3,850; Insurance ₹ 200; Debtors ₹ 32,500; Carriage ₹ 1,450; Commission ₹ 750; Interest ₹ 900; Printing ₹ 250; Bills Payable ₹ 3,150; Returns In ₹ 1,300; Returns Out ₹ 500; Bank ₹ 5,250; Rent and Taxes ₹ 1,300; Furniture ₹ 1,000; Capital ₹ 7,100; Stock on 31st March, 2018 ₹ 15,000.
Solution:

Question 23.
From the following balances, prepare Trading and Profit and Loss Account and the Balance Sheet:

Closing Stock was of ₹ 70,000 but its net realisable value was estimated at ₹ 60,000.
Solution:

Note: According to the Principle of Conservatism, closing stock is valued as whichever is less. Hence, closing stock is valued at (i.e., Rs.60,000)

Question 24.
From the following balances taken from the books of Hari & Co., prepare Trading and Profit and Loss Account for the year ended 31st March, 2018
and Balance Sheet as at that date:

Closing Stock was valued at ₹ 1,82,100.
Solution:

Question 25.
From the following balances, as on 31st March, 2018, prepare Trading and Profit and Loss Account and Balance Sheet:

Closing Stock on 31st March, 2018 was valued at ₹ 14,500.
Solution:

Question 26.
Trial Balance of Chatter Sen on 31st March, 2018 revealed the following balances:

Stock on 31st March, 2018 was valued at ₹ 35,000. Prepare Trading and Profit and Loss Account for the year ended 31st March, 2018 and Balance Sheet as at the date.
Solution:

Question 27.
Following Trial Balance is extracted from the books of a merchant on 31st March, 2018:

Stock in Hand on 31st March, 2018 was valued at ₹ 32,500.
From the above, prepare Trading and Profit and Loss Account for the year ended 31st March, 2018 and Balance Sheet as at that date.
Solution:

Question 28.
The following balances were extracted from the books of Harish Chandra on 31st March, 2018:

Stock on 31st March, 2018 was valued at ₹ 2,35,000.
Prepare final accounts for the year ended 31st March, 2018.
Solution:


Setting-off GST:
Input CGST + Input SGST – Output IGST = 15,000 + 15,000 – 30,000 = NIL

Question 29.
From the following Trial Balance and additional information of Mr. Gaurav, a proprietor, prepare Trading and Profit and Loss Account for the year ended 31st March, 2018 and Balance Seet as at that date:

Closing Stock at cost ₹ 1,00,000 but its market value is ₹ 88,500.
Solution:

We hope the TS Grewal Accountancy Class 11 Solutions Chapter 15 Financial Statements of Sole Proprietorship help you. If you have any query regarding TS Grewal Accountancy Class 11 Solutions Chapter 15 Financial Statements of Sole Proprietorship, drop a comment below and we will get back to you at the earliest.

TS Grewal Accountancy Class 11 Solutions Chapter 7 Special Purpose Books I Cash Book are part of TS Grewal Accountancy Class 11 Solutions. Here we have given TS Grewal Accountancy Class 11 Solutions Chapter 7 Special Purpose Books I Cash Book.

TS Grewal Accountancy Class 11 Solutions Chapter 7 Special Purpose Books I Cash Book

Question 1.
Without Goods and Services Tax (GST)
Enter the following transactions of Mr. Ripinder, Delhi in a Single Column Cash Book and balance it:

Solution:

Question 2.
Prepare Simple Cash Book from the following transactions of Mr. Suresh, Delhi:

Solution:

Question 3.
With Goods and Services Tax (GST)
Prepare Simple Cash book of Sri Gopal of Amritsar from the following transactions:​

Solution:

Question 4.
Prepare Simple Cash Book from the following transactions of Simran, Delhi:

Solution:

Question 5.
From the following prepare Single Column Cash Book of Suresh, Chennai and post them into ledger accounts:

Solution:

Question 6.
Without Goods and Services Tax (GST)
​Record the following transactions in Double Columns Cash Book and balance the book on 31st March, 2018:

Solution:

Question 7.
Enter the following transactions in the Double Column Cash Book of M/s. Gupta Store:

Solution:

Question 8.
Prepare Two-column Cash Book of Bimal, Lucknow from the following transactions:

Solution:

Question 9.
Prepare Two-column Cash Book from the following transactions of Mani, Kochi;

Solution:

Question 10.
Prepare Two-column Cash Book of Vinod, Delhi from the following transactions:

Solution:

Question 11.
Enter the following transactions in the Cash Book of Chandrika of Chandigarh:

Solution:

Question 12.
Enter the following transactions in Two-column Cash Book of Reema, Chandigarh and find out cash and bank balances:

Solution:

Question 13.
Write the following transactions in the Cash Book of Premium Stores, Kolkata (Proprietor Amrit Kumar):

Solution:

Question 14.
Record the following transactions in Two-column Cash Book of Ripple, Delhi:

Solution:

Question 15.
Enter the following transactions in Two-column Cash Book of Gaurav, Delhi:


Solution:

Question 16.
From the following information, prepare an Analytical Petty Cash Book:

Solution:

Question 17.
The following transactions took place during the week ended 28th May, 2018. How will you record them in the Petty Cash Book which was maintained with a weekly ‘float&’ of ₹ 3,000?

Solution:

Question 18.
Sri R maintains a Columnar Petty Cash Book on the Imprest System. The imprest amount is ₹ 5,000. From the following information, show how his Petty Cash Book would appear for the week ended 12th September, 2017:

Solution:

Question 19.
With Goods and Services Tax (GST)
A Petty Cashier in a firm received ₹15,000 as the petty cash imprest on 4th June, 2017. During the week, his expenses were as follows:

Write up the Analytical Petty Cash Book and draft the necessary Journal entries for the payments made.
Solution:

We hope the TS Grewal Accountancy Class 11 Solutions Chapter 7 Special Purpose Books I Cash Book help you. If you have any query regarding TS Grewal Accountancy Class 11 Solutions Chapter 7 Special Purpose Books I Cash Book, drop a comment below and we will get back to you at the earliest.

TS Grewal Accountancy Class 11 Solutions Chapter 9 Bank Reconciliation Statement are part of TS Grewal Accountancy Class 11 Solutions. Here we have given TS Grewal Accountancy Class 11 Solutions Chapter 9 Bank Reconciliation Statement.

TS Grewal Accountancy Class 11 Solutions Chapter 9 Bank Reconciliation Statement

Question 1.
Prepare Bank Reconciliation Statement from the following:
(i) Debit balance as per the Cash Book. – ₹ 15,000
(ii) Cheques deposited but not cleared. – ₹ 1,000
(iii) Cheques issued but not presented. – ₹ 1,500
(iv) Bank interest. – ₹ 200
Solution:

Question 2.
Prepare Bank Reconciliation Statement from the following information:
Cash at bank as shown by the Cash Book ₹ 75,000. Cheques drawn but not yet presented:
S. Sahai – ₹ 2,000
Man Mohan – ₹ 3,000
Cheques paid into the bank but not yet credited, ₹ 1,900. Bank charges not yet entered in the Cash Book, ₹ 100.
Solution:

Question 3.
On 31st March, 2018, Cash Book showed a balance of ₹ 15,000 as cash at bank, but the Bank Pass Book of the same date showed that cheques for ₹ 1,850, ₹ 1,000 and ₹ 1,750 respectively had not been presented for payment; also cheques amounting to ₹ 4,100 paid into the account had not yet been cleared. Find by means of a Bank Reconciliation Statement the balance shown in the Pass Book.
Solution:

Question 4.
Mr. Ram Behari has his account at Punjab National Bank, Delhi, According to his Cash Book, his bank balance on 31st March, 2018 was ₹ 72,950. He sent cheques for ₹ 90,075 to his bank for collection but cheques amounted to ₹ 43, 769 were not collected by that date. Out of the cheques issued by him in payment of his debts, cheques for ₹ 29,344 were not presented for payment.
Prepare Bank Reconcillation Statement and determine the balance as shown by his Pass Book.
Solution:

Question 5.
On 31st March, 2018, Cash Book of Mahesh showed debit bank balance of ₹ 75,000. When compared with the Bank Statement, following facts were discovered. On 30th March, two cheques of ₹ 5,000 and ₹ 7,000 were deposited in the bank but were not realised till date. On 28th March, three cheques of ₹ 6,000, ₹ 8,000 and ₹ 12,000 were issued but none of these were presented to the bank for payment. On 31st March, bank credited ₹ 1,250 as interest but this was not recorded in the Cash Book. Similarly, the bank had charged ₹ 150 as bank charges but this was not recorded in the Cash Book.
Bank paid insurance premium of ₹ 5,000 but it was recorded as ₹ 500 in Cash Book. Prepare Bank Reconcilation Statement on 31st March, 2018.
Solution:

Question 6.
Cash Book of a merchant showed bank balance of ₹ 23,000 on 31st March, 2018. On going through the Cash Book, it was found that two cheques for ₹ 5,000 and ₹ 7,000 deposited in the month of March were not credited in the Pass Book till 2nd April, 2018 and three cheques for ₹ 6,000, ₹ 8,000 and ₹ 12,000 issued on 28th March, were not presented for payment till 3rd April, 2018. In addition to this, bank had credited merchant for ₹ 125 as interest and had debited him for ₹ 100 as bank charges for which entries in Cash Book were not recorded. Bank charges of ₹ 500 were reversed by the Bank. Prepare Bank Reconciliation Statement as on 31st March, 2018.
Solution:

Question 7.
On 30th June, 2017, bank column of the Cash Book showed balance of ₹ 12,000 but the Pass Book showed a different balance due to the following reasons:
(i) Cheques paid into the bank ₹ 8,000 but out of these only cheques of ₹ 6,500 credited by bankers.
(ii) The receipt column of the Cash Book undercast by ₹ 200.
(iii) On 29th June, a customer deposited ₹ 3,000 directly in the Bank Account but it was entered in the Pass Book only.
(iv) Cheques of ₹ 9,200 were issued of which ₹ 2,200 were presented for payment on 15th July.
(v) Pass Book shows a credit of ₹ 330 as interest and a debit of ₹ 60 as bank charges.
Prepare Bank Reconciliation Statement as on 30th June, 2017.
Solution:

Question 8.
Cash Book shows a balance of ₹ 12,500. On comparing the Cash Book with the Pass Book, following discrepancies were noted:

Prepare Bank Reconciliation Statement.
Solution:

Question 9.
From the following particulars, prepare Bank Reconciliation Statement as on 31st December, 2008:
(i) Debit balance as per Cash Book ₹ 10,000.
(ii) A cheque for ₹ 500 issued in favour of Karan has not been presented for payment.
(iii) A bill for ₹ 700 retired by bank under a rebate of ₹ 20, the full amount of the bill was credited in the Cash Book.
(iv) A cheque for ₹ 295 deposited in the bank has been dishonoured.
(v) A sum of ₹ 800 deposited in the bank has been credited as ₹ 80 in the Pass Book.
(vi) Payment side of the Cash Book has been undercast by ₹ 200.
(vii) A bill receivable for ₹ 1,000 (discounted with the bank in November 2008) dishonoured on 31st December, 2008.
Solution:

Question 10.
On examining the Bank Statement of Green Ltd., it is found that the balance shown on 31st March, 2018, differes from the bank balance of ₹ 23,650 shown by the Cash Book on that date. From a detailed comparison of the entries it is found that:
(i) ₹ 2,860 is entered in the Cash Book as paid into the bank on 31st March, 2018 but not credited by the bank until the following day.
(ii) Bank charges of ₹ 70 on 31st March, 2018 are not entered in the Cash Book.
(iii) A bill for ₹ 5,500 discounted with the bank is entered in the Cash Book without recording the discount charges of ₹ 270.
(iv) Cheques totalling ₹ 16,720 were issued by the company and duly recorded in the Cash Book before 31st March, 2018 but had not been presented at the Bank for payment until after that date.
(v) On 25th March, 2018, a debtor paid ₹ 1,000 into the Company’s Bank in settlement of his account but no entry was made in the Cash Book of the comapny in respect of this.
(vi) No entry has been made in the Cash Book to record the dishonour on 15th March, 2018, of a cheque for ₹ 550 received from Ram Babu.
Prepare a Bank Reconciliation Statement as on 31st March, 2018.
Solution:

Question 11.
Prepare Bank Reconciliation Statement from the following particulars on 31st July, 2017:
(i) Balance as per the Pass Book ₹ 50,000.
(ii) Three cheques for ₹ 6,000, ₹ 3,937 and ₹ 1,525 issued in last week of July, 2017 were presented for payment to the bank in August, 2017.
(iii) Two cheques of ₹ 500 and ₹ 650 sent to the bank for collection were not entered in the Pass Book by 31st July, 2017.
(iv) The bank charged ₹ 460 for its commission and allowed interest of ₹ 100 which were not mentioned in the Bank Column of the Cash Book.
Solution:

Question 12.
Prepare Bank Reconciliation Statement as on 31st March, 2018 from the following particulars:

Solution:

Question 13.
Draw Bank Reconciliation Statement showing adjustment between your cash book and pass book as on 31st March, 2011.
(i) On 31st March, 2011 your pass book showed a balance of ₹ 6,000 to your credit.
(ii) Before that date, you had issued cheques amounting to ₹ 1,500 of which cheques of ₹ 900 have been presented for payment.
(iii) A cheque of ₹ 800 paid by you into the bank on 29th March, 2011 is not yet credited in pass book.
(iv) There was a credit of ₹ 85 for interest on Current Account in the pass book.
(v) On 31st March, 2011 a cheque for ₹ 510 received by you and was paid into bank but the same was omitted to be entered in cash book.
Solution:

Question 14.
Prepare Bank Reconciliation Statement as on 30th September, 2016 from the following particulars:

Solution:

Question 15.
Bank Statement of a customer shows bank balance of ₹ 62,000 on 31st March, 2018. On Comparing it with the Cash Book the following discrepancies were noted:
(i) Cheques were paid into the bank in March but were credited in April:
P – ₹ 3,500; Q – ₹ 2,500; R – ₹ 2,000.
(ii) Cheques issued in March were presented in April:
X – ₹ 4.000; Q – ₹ 4,500.
(iii) Cheque for ₹ 1,000 received from a customer entered in the Cash Book but was not banked.
(iv) Pass Book shows a debit of ₹ 1,000 for bank charges and credit of ₹ 2,000 as interest.
(v) Interest on investment ₹ 2,500 collected by the bank appeared in the Pass Book.
Prepare Bank Reconciliation Statement showing the balance as per Cash Book on 31st March, 2018.
Solution:

Question 16.
On 1st January, 2018, Naresh had an overdraft of ₹ 40,000 as shown by his Cash Book in the bank column. Cheques amounting to ₹ 10,000 had been deposited by him but were not collected by the bank by 1st January, 2018. He issued cheques of ₹ 7,000 which were not presented to the bank for payment up to that day. There was also a debit in his Pass Book of ₹ 600 for interest and ₹ 500 for bank charges.
Prepare a Bank Reconciliation Statement.
Solution:

Question 17.
On 31st March 2018, Cash Book of B. Babu showed an overdraft of ₹ 18,000 with the Bank of India. This balance did not agree with the balance as shown by the Bank Pass Book. You find that Babu had paid into the bank on 26th March four cheques for ₹ 10,000, ₹ 12,000, ₹ 6,000 and ₹ 8,000. Out of these the cheque for ₹ 6,000 was credited by the bank in April, 2018. Babu had issued on 24th March three cheques for ₹ 15,000, ₹ 12,000 and ₹ 7,000. The first two cheques were prsented to the bank for payment in March, 2018 and the third cheque in April, 2018.
You also find that on 31st March, 2018 the bank had debited Babu’s Account with ₹ 500 for interest and ₹ 20 as charges, but Babu had not recorded these amounts in his books.
Prepare Bank Reconcliation Statement as on 31st March, 2018 and ascertain the balance as per Bank Pass Book.
Solution:

Question 18.
On 31st March, 2018, Cash Book of a merchant showed bank overdraft of ₹ 1,72,985. On comparing the Cash Book with Bank Statement, following discrepancies were noted:
(i) Cheques issued for ₹ 60.000 were not presented in the bank till 7th April, 2018.
(ii) Cheques amounting to ₹ 75.000 were deposited in the bank but were not collected
(iii) A Cheque of ₹ 15,000 received from Mahesh Chand and deposited in the bank was dishonoured but the non-payment advice was not received from the bank till 1st April, 2018.
(iv) ₹ 1,50,000 being the proceeds of a bill receivable collected appeared in the Pass Book but not in the Cash Book.
(v) Bank charges ₹ 1,500 and interest on overdraft 8,500 appeared in the Pass Book but not in the Cash Book.
(vi) Overdraft balance as per Cash Book of ₹ 500 on 28th February, 2018 was wrongly carried forward as debit balance. The error was noted at the time of preparing the Bank Reconciliation Statement as on 31st March, 2018.
Prepare Bank Reconciliation Statement and show what balance the Bank Pass Book would indicate on 31st March, 2018.
Solution:

Overdraft balance as per Cash book of Rs.500 on 28th Feb 2017 was wrongly carried forward as debit balance, so to correct the error cash book by double amount of shown minus side (500 + 500 = 1000).

Question 19.
Tiwari and Sons find that that the bank balance shown by their Cash Book on 31st March, 2018 is ₹ 40,500 (credit) but the Pass Book shows a difference due to the following reasons:
(i) A cheque for ₹ 5,000 drawn in favor of Manohar has not yet been presented for payment.
(ii) A post-dated cheque for ₹ 900 has been debited in the bank column of the Cash Book but it could not have been presented in any case.
(iii) Cheques totalling ₹ 10,200 deposited with the bank have not yet been collected and a cheque for ₹ 4,000 has been dishonoured.
(iv) A bill for ₹ 10,000 was retired by the Bank under a rebate of ₹ 150 but the full amount of the bill was credited in the bank column of the Cash Book.
Prepare Bank Reconcilation Statement and find out the balance as per Pass Book.
Solution:

Question 20.
Prepare Bank Reconciliation Statement from the following:
On 31st March, 2018, a merchant’s Cash Book showed a credit bank balance of ₹ 10,500 but due to the following reasons the Pass Book showed a difference.
(i) A cheque of ₹ 540 issued to Mohan has not been presented for payment.
(ii) A post-dated cheque for ₹ 100 has been debited in the bank column of the Cash Book but under no circumstances was it possible to prove it.
(iii) Four cheque for ₹ 1,200 sent to the bank have not been collected so far. A cheque of ₹ 400 deposited in the bank has been dishonoured.
(iv) As per instructions, the bank paid ₹ 50 as Fire Insurance premium but the entry has not been made in the Cash Book.
(v) There was a debit in the Pass Book of ₹ 15 in respect of bank charges and a credit of ₹ 25 for interest on Current Account but no record exists in the Cash Book.
(vi) Cheque of ₹ 5,000 dated 15th April, 2018 issued to M & Co. was dishonoured being post dated. It was also not recorded in the books of account yet.
Solution:

Note: Point (vi) is Cheque of Rs.5,000 dated 15th April 2018 issued to M and Co. dishonoured will have no any impact as this statement is as on 31st March 2018.

Question 21.
From the following particulars of a trader, prepare a Bank Reconcilaton Statement as on 31st March, 2018.
(i) Bank overdraft as per Cash Book ₹ 52,100.
(ii) During the month, the total amount of cheques for ₹ 94,400 were deposited into the bank but of these, one cheque for ₹ 11,160 has been entered into the Pass Book on 5th April.
(iii) During the month, cheques for ₹ 89,580 were drawn in favour of creditors. Of them one creditor for ₹ 38,580 encashed his cheque on 7th April whereas another for ₹ 4,320 have not yet been encashed.
(iv) As per instructions the bank on 28th March paid out ₹ 10,500 to a creditor but by mistake, the same has not been entered in the Cash Book.
(v) According to agreement, on 25th March, a debtor deposited directly into the bank ₹ 9,000 but the same has not been recorded in the Cash Book.
(vi) In the month of March, the bank without any intimation, debited his account for ₹ 120 as bank charges and credited the same for ₹ 180 as interest.
(vii) Cash deposit of ₹ 5,780 in bank was recorded as ₹ 7,580. The error was rectified by the Bank before 31st March, 2018.
Solution:

Note: Point (vii) is Cash deposit of Rs.5,780 was recorded as Rs.7,580 will have no affect on the bank statement as error in recording cash deposit entry already rectified.

Question 22.
Prepare Bank Reconciliation Statement from the following particulars as on 31st March, 2018, when Pass Book shows a debit balance of ₹ 2,500:
(i) Cheque issued for ₹ 5,000 but up to 31st March, 2018 only ₹ 3,000 could be cleared.
(ii) Cheques issued for ₹ 1,000 but omitted to be recorded in the Cash Book.
(iii) Cheques deposited for ₹ 5,500 but cheques for ₹ 500 were collected on 4th April 2018.
(iv) A discounted Bill of Exchange dishonoured ₹ 1,000.
(v) A cheque of ₹ 500 debited in Cash Book but omitted to be banked.
(vi) Interest allowed by bank ₹ 200 but no entry was passed in the Cash Book.
Solution:

Question 23.
From the following information, prepare Bank Reconciliations Statement as on 31st March, 2018:

Solution:

Question 24.
On 31st March, 2018, Bank Pass Book of Naresh & Co. showed an overdraft of ₹ 10,700. From the following particulars, prepare Bank Reconciliation Statement:
(i) Cheques issued before 31st March, 2018 but presented for payment after that date amounted to ₹ 900.
(ii) Cheques paid into the bank but not collected and credited unitl 31st March, 2018 amounted to ₹ 2,200.
(iii) Interest on overdraft amounting to ₹ 1,200 did not appear in the Cash Book.
(iii) ₹ 5,000 being interest on investments collected by the bank and credited in the Pass Book were not shown in the Cash Book.
(iv) Bank charges of ₹ 50 were not entered in the Cash Book.
(v) ₹ 800 in respect of dishonoured cheque were intered in the Pass Book but not in the Cash Book.
Solution:

Question 25.
On 31st March, 2018, Pass Book of Shri Bhama Shah shows debit balance of ₹ 10,000. From the following particulars, prepare Bank Reconcilation Statement.
(i) Cheques amounting to ₹ 8,000 drawn on 25th March of which cheques of ₹ 5,000 cashed in April, 2018.
(ii) Cheques paid into bank for collection of ₹ 5,000 but cheques of ₹ 2,200 could only be collected in March 2018.
(iii) Bank charges ₹ 25 and dividend of ₹ 350 on investemnt collected by bank could not be shown in the Cash Book.
(iv) A cheque of ₹ 600 debited in the Cash Book omitted to be banked.
(v) Bill of ₹ 5,000 discounted with Bank but was not recorded in the Cash Book.
Solution:

Question 26.
On checking the Bank Pass Book it was found that it showed an overdraft of ₹ 5,220 as on 31st March, 2018, while as per Ledger it was different. The following differences were noted:
(i) Cheques deposited but not yet credited by the bank ₹ 6,000.
(ii) Cheques dishonoured and debited by the bank but not given effect to it in the Ledger ₹ 800.
(iii) Bank charges debited by the bank but Debit Memo not received from the bank ₹ 50.
(iv) Interest on overdraft excess credited in the Ledger ₹ 200.
(v) Wrongly credited by the bank to account, deposit of some other party ₹ 900.
(vi) Cheques issued but not presented for payment ₹ 400.
Solution:

Question 27.
Prepare Bank Reconciliation Statement from the following particulars as on 31st March, 2018 when Pass Book shows a debit balance of ₹ 2,500:
(i) Cheque issued for ₹ 5,000 but up to 31st March, 2018 only ₹ 3,000 could be cleared.
(ii) Cheques deposited for ₹ 5,500 but cheques of ₹ 500 were collected on 10th April, 2018.
(iii) A discounted Bill of Exchange dishonoured ₹ 2,000.
(iv) A cheque of ₹ 300 debited in Cash Book but omitted to be banked.
(v) Interest allowed by bank ₹ 400 but no entry was passed in the Cash Book.
Solution:

Question 28.
From the following particulars, you are required to ascertain the bank balance as would appear in the Cash Book of Ramesh as on 31st October, 2017:
(i) Bank Pass Book showed an overdraft of ₹ 16,500 on 31st October.
(ii) Interest of ₹ 1,250 on overdraft up to 31st October, 2017 has been debited in the Bank Pass Book but it has not been entered in the Cash Book.
(iii) Bank charges debited in the Bank Pass Book amounted to ₹ 35.
(iv) Cheques issued prior to 31st October, 2017 but not presented till that date, amounted of ₹ 11,500.
(v) Cheques paid into bank before 31st October, but not collected and credited up to that date, were for ₹ 2,500.
(vi) Intrest on investment collected by the bankers and credited in the Bank Pass Book amounted to ₹ 1,800.
Solution:

Question 29.
From the following information supplied by Mr. D.H., prepare his Bank Reconciliation Statement as on 31st March, 2018:
(i) Bank overdraft as per Pass Book. – ₹ 33,000
(ii) Cheques issued but not presented for payment. – ₹ 17,500
(iii) Cheques deposited but not collected. – ₹ 21,000
(iv) Cheques recorded in the Cash Book but not sent to the bank for collection. – ₹ 4,000
(v) Payment received from customers directly by the bank. – ₹ 7,000
(vi) Bank charges debited in the Pass Book. – ₹ 40
(vii) Premium of Life Insurance Policy of Mr. D.H. paid by the bank on standing instructions. – ₹ 360
(viii) A bill for ₹ 6,000 dishonoured on 30th March, 2018 and bank paid Noting charges. This bill was discounted on 30th January, 2018. – ₹ 20
Solution:

Question 30.
Prepare Bank Reconciliation Statement as on 31st March, 2018 from the following particulars:
(i) R’s overdraft as per Pass Book ₹ 12,000 as on 31st March.
(ii) On 30th March, cheques had been issued for ₹ 70,000 of which cheques amounting to ₹ 3,000 only had been encashed up to 31st March.
(iii) Cheques amounting to ₹ 3,500 had been paid into the bank for collection but of these only ₹ 500 had been credited in the Pass Book.
(iv) Bank has charged ₹ 500 as interest on overdraft and the intimation of which has been received on 2nd April, 2018.
(v) Bank Pass Book shows credit for ₹ 1,000 representing ₹ 400 paid by debtor of R direct into the bank and ₹ 600 collected directly by the bank in respect of interest on R’s investment. R had no knowledge of these items.
(vi) A cheque for ₹ 200 has been debited in the bank column of Cash Book by R but it was not sent to the bank at all.
Solution:

Question 31.
Prepare Bank Reconcilation Statement form the following particulars and show balance as per Cash Book:
(i) Balance as per Pass Book on 31st March, 2018 overdrawn ₹ 10,000.
(ii) Cheques drawn in the last week of March, 2018 but not cleared till 3rd April, 2018 ₹ 20,000.
(iii) Interst on bank overdraft not entered in the Cash Book ₹ 1,500.
(iv) Cheques of ₹ 20,000 deposited in the bank in March, 2018 but not collected and credited till 3rd April, 2018.
(v) ₹ 100 Insurance premium paid by the bank under a standing order has not been entered in the Cash Book.
(iv) A draft of ₹ 10,000 favouring Atul & Co. was issued by the bank charging commission of ₹ 200. However, in the Cash Book entry was passed by ₹ 10,000.
Solution:

Question 32.
Bank Pass Book of Mr. X showed an overdraft of ₹ 33,575 on 31st March 2018. On going through the Pass Book the accountant found the following:
(i) A cheque of ₹ 1,080 credited in the Pass Book on 28th March, being dishonoured is debited again in the Pass Book on 1st April, 2018. There was no entry in the Cash Book about the dishonour of the cheque until 15th April.
(ii) Bankers had credited his account with ₹ 2,800 for interst collected by them on his behalf but the same had not been entered in his Cash Book.
(iii) Out of ₹ 20,500 paid by Mr. X in cash and by cheques on 31st March, cheque amounting to ₹ 7,500 were collected on 7th April.
(iv) Out of chequs amounting to ₹ 7,800 drawn by him on 27th March, a cheque for ₹ 2,500 was enchased on 3rd April.
(v) A credit wrongly given by bank of ₹ 5,500 was reveresed by it on 6th April, 2018.
Prepare Bank Reconcilation Statement on 31st March, 2018.
Solution:

Note: Point (i) as cheque is dishonoured on 1st April 2018 i.e. after the period for which Balance as per pass Book is given. Thus, no effect is bank statement.

Question 33.
From the follwoing information supplied by Sanjay, prepare his Bank Reconcilation Statement as on 31st March, 2018:
(i) Bank overdraft as per Pass Book. – ₹ 16,500
(ii) Cheques issued but not presented for payment. – ₹ 8,750
(iii) Cheques deposited with the Bank but not collected. – ₹ 10,500
(iv) Cheques recorded in the Cash Book but not sent to the bank for collection. – ₹ 2,000
(v) Payments received from customers directly by the bank. – ₹ 3,500
(vi) Bank charges debited in the Pass Book. – ₹ 200
(vii) Premium on Life Policy of Sanjay paid by the bank on standing advice. – ₹ 1,980
(viii) A bill for ₹ 3,000 (discounted with the bank in February) dishonoured on 31st March, 2018 and noting charges paid by the bank. – ₹ 100
Solution:

Question 34.
From the following information, prepare Bank Reconciliation Statement as on 31st March, 2018:
(i) Debit balance shown by Pass Book ₹ 17,800.
(ii) Cheque of ₹ 21,600 were issued in the last week of March but only cheques of ₹ 14,800 were presented for payment.
(iii) Cheques of ₹ 10,750 were presnted to the bank. Out of them, a cheque of ₹ 4,200 was credited in the first week of April, 2018.
(iv) A cheque of ₹ 1,200 was debited in the cash book but was not presented in the bank.
(v) Insurance premium paid by bank ₹ 1,450.
(vi) A bill of exchange of ₹ 6,200 which disocunted with the same was dishonoured but no entry was made in the Cash Book.
(vii) Bank chearges, charged by the bank ₹ 350.
Solution:

Question 35.
Mohan & Co., have two bank accounts – Account No. I and Account No. II. From the following particulars relating to Account No. I, find out the balance on that account as on 31st March, 2018 according to the Cash Book (Bank Column) of the firm:

Solution:

Question 36.
From the following particulars, ascertain the bank balance as per Pass Book as on 31st March, 2018 (a) without correcting the Cash Book balance and (b) after correcting the Cash Book balance:
(i) The bank balance as per Cash Book on 31st March, 2018 ₹ 40,000.
(ii) Cheques issued but not encaashed up to 31st March, 2018 amounted to ₹ 10,000.
(iii) Cheques paid into the bank, but not cleared up to 31st March, 2018 amounted to ₹ 15,000.
(iv) Interest on investments collected by the bank but not entered in the Cash Book ₹ 500.
(v) Cheques deposited in the bank but not entered in the Cash Book ₹ 12,500.
(vi) Bank charges debited in the Pass Book but not entered in the Cash Book ₹ 100.
Solution:

Question 37.
From the folowing particulars, find out corrected bank balance as per Cash Book and thereafter proepare a Bank Reconcilation Statement as on 31st March, 2018 of a sole proprietor:

Solution:

Question 38.
From the following extracts from the Cash Book and the Pass Book for the month of January, 2018, prepare Bank Reconcilation Statement:


Solution:

Note: In Cash Book 10th Jan 2018 cheque received from G. Basu and Co is debited with Rs.1,000 and 14 Jan 2018 dishonour entry is reversed by crediting G. Basu and Co. with Rs.1,000. Therefore no effect is bank statement.

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