Books of Original Entry – Journal — Account STD 11 Commerce — Question

Prepare the Transfer Vouchers in the books of Mangla Agencies, Faridabad, Haryana from the Source Vouchers:

2019	Particular	₹
Jan-7	Purchased goods from M/s Eufora, New Delhi vide Bill No. 912, paid IGST @ 12%	4,700
Jan-11	Sold goods to M/s Yardley, Faridabad, Haryana vide Bill No. 31596, charged CGST and SGST @ 6% each	5,000
Jan-31	Depreciation charged on building @ 10% on ₹ 2,00,000	20,000

On 1st April, 2019, 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, 2019 were:

2019		₹
April 2	Bought goods from Gobind, Delhi	900
April 3	Sold goods to Sharma, Kanpur	1,000
April 5	Bought goods from Rahul, Delhi	1,200
April 8	Sold goods to Zahir, Kolkata	500
April 15	Paid Gobind by cheque on account*	1,500
April 18	Received from Sharma a cheque of	2,000
	Allowed him discount*	50
April 20	Sold goods to Sharma, Kanpur	800
April 20	Paid rent by cheque	200
April 25	Sold goods to Zahir, Kolkata	1,000
April 30	Paid salaries in cash*	300

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, 2019.

Prepare Journal from the transactions given below:

		₹
(a)	Cash paid for installation of machine	500
(b)	Goods given as charity	2,000
(c)	Interest charge on capital @ 7% p.a. when total capital were	70,000
(d)	Received ₹ 1,200 of a bad debts written-off last year.
(e)	Goods destroyed by fire	2,000
(f)	Rent outstanding	1,000
(g)	Interest on drawings	900
(h)	Sudhir Kumar who owed me ₹ 3,000 has failed to pay the amount. He pays me a compensation of 45 paise in a rupee.
(i)	Commission received in advance	7,000

What is ‘Imprest System' of Petty Cash Book?

Explain the meaning of the following term:
Stock.

What are the different uses available to a holder for dealing with bills receivable?

Prepare a Purchase Book with atleast two items in it and show its posting.

On 1st April, 2019, the position of Rahman was as follows: Cash-in Hand ₹ 11,200; Cash at bank ₹ 2,57,600; Bills Receivable ₹ 68,800; Jai Ram (Dr.) ₹ 16,000; Ram Kumar (Dr.) ₹ 48,080; Office Furniture ₹ 52,800; Stock-in-Trade ₹ 4,16,000; Doulat Ram (Cr.) ₹ 1,74,720, Hari Ram (Cr.) ₹ 2,16,960; Bills Payable ₹ 80,000. What was the amount of capital of Rahman on that date? Pass the Journal entry to Open his books.

“In case of a long term asset, repair and maintenance expenses are expected to rise in later years than in earlier year”. Which method is suitable for charging depreciation if the managernent does not want to increase burden on Profit & Loss Account on account of depreciation and repair.

Prepare bank reconciliation statement as on December 31, 2017. This day the passbook of Mr. Himanshu showed a balance of ₹ 7,000.

1. Cheques of ₹ 1,000 directly deposited by a customer.
2. The bank has credited Mr. Himanshu for ₹ 700 as interest.
3. Cheques for ₹ 3000 were issued during the month of December but of these cheques for ₹ 1,000 were not presented during the month of December.