.

WEEKLY CLASS TEST

Class 11 - Accountancy
Time Allowed: 2 hours and 1 minute Maximum Marks: 191

1. Sold goods for cash of the list price of ₹ 10,000 at 20% trade discount and 5% cash discount. Posting will be [1]
made in Sales A/c:

a) ₹ 8,000 on Credit side b) ₹ 7,600 on Debit side

c) ₹ 7,600 on Credit side d) ₹ 8,000 on Debit side

2. Purchased goods from Manish of ₹ 20,000 at 20% trade discount. Posting will be made in Manish A/c: [1]

a) Dr. side Rs 16,000 b) Cr. side Rs 20,000

c) Cr. side ₹ 16,000 d) Dr. side Rs 20,000

3. Which account will be credited for the goods given as charity? [1]

a) None of these b) Charity A/c

c) Sales A/c d) Purchases A/c

4. Transactions are posted into Ledger Account from: [1]

a) journal book b) vouchers

c) bank statement d) none of these

5. Posting of a transaction means entering of that transaction in: [1]

a) Credit side of the concerned account b) Debit side of the concerned account

c) Proper side of the two concerned accounts d) Any two accounts

6. While posting in personal accounts from the sales return book, posting is done: [1]

a) On Credit side b) None of these

c) On Debit side d) Both On Debit and On Credit side

7. Posting of transaction means [1]

a) entering transactions in Ledger. b) Entering transactions in Journal.

c) entering transactions in Trial Balance. d) entering transactions in Financial

Statements.

8. The words To Balance b/d and By Balance b/d are recorded in the Particular Column at the time of posting of [1]
________:

a) Closing Entry b) Compound Entries

c) Adjusting Entries d) Opening Entry

9. Paid to Surbhi ₹ 14,000 in full settlement of ₹ 15,000. Posting of ₹ 1,000 will be made to the: [1]

1 / 15
 a) Credit side of Discount A/c b) Credit side of Surbhi’s A/c

c) Debit side of Discount A/c d) Debit side of Surbhi’s A/c

10. Which of these accounts has debit balance? [1]

a) Prepaid insurance premium b) Bank loan

c) Income received in advance d) Creditors for goods

11. The total of sales book will be posted to the: [1]

a) Credit side of Sales Return A/c b) Credit side of Sales A/c

c) Debit side of Sales A/c d) Debit side of Sales Return A/c

12. Dhruv who owed us ₹ 8,000 became insolvent and paid us 60% in full settlement. Posting will be made to Dhruv [1]
A/c:

a) ₹ 4,800 on Cr. side b) ₹ 4,800 on Dr. side

c) ₹ 8,000 on Dr. side d) ₹ 8,000 on Cr. side

13. Goods returned from Vansh will be posted to the: [1]

a) Debit of Purchases Return A/c b) Credit of Sales Return A/c

c) Credit of Vansh's A/c d) Debit of Vansh A/c

14. While posting in personal accounts from the sales book, posting is done: [1]

a) On Debit side b) Both On Debit and Credit side

c) On Credit side d) Performa Invoice

15. The total of Purchase Return Column of Purchases Return book will be posted to the: [1]

a) Cr. side of Purchases Return A/c b) Dr. of Purchases A/c

c) Cr. of Purchases A/c d) Dr. side of Purchases Return A/c

16. Which of the following expense is not a revenue expense? [1]

a) Water b) Salary

c) Repair of second-hand machinery d) Electricity

purchased

17. Paid to Jyoti ₹ 11,500 in full settlement of ₹ 12,000. Posting will be made in Jyoti’s A/c: [1]

a) ₹ 11,500 on Dr. side b) ₹ 12,000 on Cr. side

c) ₹ 11,500 on Cr. side d) ₹ 12,000 on Dr. side

18. The credit balance of a personal account is ________. [1]

a) Cash in hand b) Income earned

c) Amount receivable d) Amount payable

19. Received ₹ 4,900 from Geeta in full settlement of ₹ 5,000. Posting of ₹ 100 will be made to the: [1]

a) Dr. side of Discount A/c b) Cr. side of Discount A/c

2 / 15
 c) Dr. side of Garima A/c d) Cr. side of Cash A/c
20. The proprietor of the business withdrew goods from the business for private use. It will be posted to the: [1]

a) Dr. of Purchases A/c b) Dr. of Drawings A/c

c) Cr. of Purchases A/c d) Cr. of Drawing A/c

21. Goods returned to X will be posted to: [1]

a) Credit of X's A/c b) Debit of Purchases Return A/c

c) Credit of Sales Return A/c d) Credit of Purchases Return A/c

22. When goods are lost by fire then Loss of Goods by Fire Account is debited with [1]

a) Cost of goods sold plus Gross Profit. b) Cost of goods purchased.

c) Cost of goods sold less Gross Profit. d) Cost of goods sold.

23. The total of purchases book will be posted to the: [1]

a) Debit side of Purchases Return A/c b) Debit side of Purchases A/c

c) Credit side of Purchases A/c d) Credit side of Purchases Return A/c

24. The main object of keeping the ledger is: [1]

a) To ascertain the profit & loss of business b) To ascertain the debtors and creditors of the
business

c) To ascertain the financial position of the d) To ascertain the net result of all
business transactions of one nature
25. Received ₹ 7,500 from Reshma in full settlement of ₹ 8,000. Posting will be made in Reshma’s A/c: [1]

a) ₹ 7,500 on Credit side b) ₹ 7,500 on Debit side

c) ₹ 8,000 on Debit side d) ₹ 8,000 on Credit side

26. The process of transferring entries from the books of original entry is called: [1]

a) Totalling b) Posting

c) Balancing d) Journalising

27. The process of transferring the accounts from the Journal to the ledger is called. [1]

a) Posting b) Journalising

c) Balancing d) Costing

28. While posting in personal accounts from the purchases return book, posting is done: [1]

a) On Credit side b) None of these

c) On Debit side d) Both Debit and Credit side

29. Sold goods for cash of the list price of ₹ 8,000 at 10% trade discount and 3% cash discount. Posting will be [1]
made in Discount A/c:

a) ₹ 216 on Debit side b) ₹ 216 on Credit side

c) ₹ 240 on Debit side d) ₹ 240 on Credit side

3 / 15
30. While posting in personal accounts from the purchases book, the posting is done: [1]

a) on debit side b) on both Dr. and Cr. side

c) Performa Invoice d) on credit side

31. ________ is the process of transferring the entries from the books of original entry (journal) to the ledgeR. [1]

a) None of these b) Drafting

c) Recording d) Posting

32. The posting of accounts recorded on the debit side of cash book is made: [1]

a) Both On Debit and Credit side b) None of these

c) On Debit side d) On Credit side

33. Prepare Journal entries of the following posting in the Ledger accounts:- [3]
i. CASH ACCOUNT

Dr. Cr.

₹ ₹

To Sales 5,000

ii. FURNITURE ACCOUNT

₹ ₹

To Cash 8,000

iii. PURCHASES ACCOUNT

Dr. Cr.

₹ ₹

To Govind 10,000

iv. MURARI

Dr. Cr.

₹ ₹

By Purchases A/c 12,000

v. SALES ACCOUNT

Dr. Cr.

₹ ₹

By Mohan 500

vi. INTEREST ACCOUNT

Dr. Cr.

₹ ₹

By Cash A/c 15,000

34. What do you mean by posting? [3]

4 / 15
35. Write the process of preparing ledger from a journal. [3]
36. Give journal entries of M/s Mohit traders, Post them to the Ledger from the following transactions: [6]

2017 Amount (₹)

Aug. 01 Commenced business with cash 1,10,000

Aug. 02 Opened bank account with H.D.F.C. 50,000

Aug. 03 Purchased furniture 20,000

Aug. 07 Bought goods for cash from M/s Rupa Traders 30,000

Aug. 08 Purchased good from M/s Hema Traders 42,000

Aug. 10 Sold goods for cash 30,000

Aug. 14 Sold goods on credit to M/s. Gupta Traders 12,000

Aug. 16 Rent paid 4,000

Aug. 18 Paid trade expenses 1,000

Aug. 20 Received cash from Gupta Traders 12,000

Aug. 22 Goods return to Hema Traders 2,000

Aug. 23 Cash paid to Hema Traders 40,000

Aug. 25 Bought postage stamps 100

Aug. 30 Paid salary to Rishabh 4,000

37. Two water purifiers were sold to Raman traders for Rs.2,100 each out of which one purifier was returned back [6]
due to the manufacturing defect (Credit note no.10/2014). Record the above transaction in the books of accounts
38. Record the following transactions in the Purchases Book of Global Furniture House, New Delhi assuming CGST [6]
@ 6% and SGST @ 6% and post it into Ledger:-

2023

Nov.
Purchased goods from Super Furniture Store, New Delhi:
3

50 Chairs @ ₹2,000 each

5 Tables @ ₹10,000 each

Less: 10% Trade Discount

Purchased furniture from Bholenath & Co., Bikaner (Rajasthan) valued ₹ 2,00,000. less 12 % Trade
1

10 2

Discount.

18 Purchased furniture from Universal Furniture House, Gurgaon of the list price of ₹ 2,50,000, less 15%.

20 Purchased from Narayan Furniture House, New Delhi:

100 Chairs @ ₹1,800 each

25 Purchased from Manoj Prasad & Sons furniture of the value of ₹ 20,000 for cash.

39. Pass Journal entries of M/s Bhanu Traders, Delhi from the following transactions. Post them to the Ledger: [6]

5 / 15
 2019 ₹

April 1 Commenced business with cash 1,50,000

April 2 Opened a bank account with PNB 50,000

April 3 Purchased furniture 20,000

April 7 Bought goods for cash from M/s. Rupa Traders, Delhi 30,000

April 8 Purchased goods from M/s. Hema Traders, Chandigarh 42,000

April 10 Cash sales 30,000

April 14 Sold goods on credit to M/s. Gupta Traders, Kolkata 12,000

April 16 Rent paid 4,000

April 18 Paid Electricity expenses 1,000

April 20 Received cash from Gupta Traders 12,000

April 22 Goods returned to Hema Traders 2,000

April 23 Cash paid to Hema Traders 40,000

April 25 Bought postage stamps 100

April 30 Paid salary to Mohan 4,000

40. Enter the following transactions in a Double Column Cash Book and Journal Proper and post them into Ledger:- [6]

May
Balance of Cash in Hand ₹ 12,400; Bank Overdraft ₹ 36,000.
1

3 Direct deposit by Mr. Gopal in our bank account ₹ 10,000. Discount allowed ₹ 200.

5 Issued a cheque of ₹ 7,700 to Mr. Sanjay in full settlement of his account of ₹ 8,000.

Received a cheque from X for ₹ 12,000. Discount allowed ₹ 500. This cheque was deposited into bank
6
on 7th May.

8 Received Cash ₹ 22,000 and cheque of ₹ 8,000 for cash sale.

12 Cash Sale ₹ 70,000 of which ₹ 55,000 banked.

15 Cheque received on 8th May endorsed to Mr. Sunny. Discount received ₹ 150.

20 Discounted a B/R of ₹ 10,000 at 1% through bank.

24 Cheque received from X dishonoured, Bank debits ₹ 20 in respect of bank charges.

25 Purchased goods for ₹ 50,000 at a trade discount of 10%. Payment was made in cash.

26 Withdrew from bank ₹ 10,000 for office use and ₹ 2,000 for personal use.

31 Interest debited by Bank ₹4,500.

41. Journalise the following transactions is the journal of M/s Goel Brothers and post them to the ledger. [6]

2017 Amount (₹)

Jan. 01 Started business with cash 1,65,000

6 / 15
 Jan. 02 Opened bank account in PNB 80,000

Jan. 04 Goods purchased from Tara 22,000

Jan. 05 Goods purchased for cash 30,000

Jan. 08 Goods sold to Naman 12,000

Jan. 10 Cash paid to Tara 22,000

Jan. 15 Cash received from Naman 11,700

Discount allowed 300

Jan. 16 Paid wages 200

Jan. 18 Furniture purchased for office use 5,000

Jan. 20 withdrawn from bank for personal use 4,000

Jan. 22 Issued cheque for rent 3,000

Jan. 23 goods issued for household purpose 2,000

Jan. 24 drawn cash from bank for office use 6,000

Jan. 26 Commission received 1,000

Jan. 27 Bank charges 200

Jan. 28 Cheque given for insurance premium 3,000

Jan. 29 Paid salary 7,000

Jan. 30 Cash sales 10,000

42. From the following transactions prepare Sales Return Book of M/s Rana & Co., Habra (West Bengal) assuming [6]
CGST @ 9% and SGST @ 9% and post it into the Ledger:-

2023

June
Goods returned by Jaishankar, Habra ₹ 80,000. These goods were sold to him at 15% discount.
3

12 Defective goods returned by Indo Oil Co., Warangal (Telangana) for ₹ 30,000

Allowances claimed by Magnum Gas Co., Warangal (Telangana) on Account of Mistake in invoice ₹
26
20,000

43. Journalise the following transactions, post to the ledger: [6]

2017 Amount (₹)

Nov. 01 Business started with

(i) Cash 1,50,000

(ii) Goods 50,000

Nov. 03 Purchased goods from Harish 30,000

Nov. 05 Sold goods for cash 12,000

7 / 15
 Nov. 08 Purchase furniture for cash 5,000

Nov. 10 Cash paid to Harish on account 15,000

Nov. 13 Paid sundry expenses 200

Nov. 15 Cash sales 15,000

Nov. 18 Deposited into bank 5,000

Nov. 20 Drew cash for personal use 1,000

Nov. 22 Cash paid to Harish in full settlement of account 14,700

Nov. 25 Good sold to Nitesh 7,000

Nov. 26 Cartage paid 200

Nov. 27 Rent paid 1,500

Nov. 29 Received cash from Nitesh 6,800

Nov. 29 Discount allowed 200

Nov. 30 Salary paid 3,000

44. Enter the following transactions in Purchase Return Book of Sharma & Sons, Gorakhpur (U.P.) assuming CGST [6]
@ 6% and SGST @ 6% and post it into Ledger:-

2023

May
Returned goods to Mahatma Jain of Noida (U.P.) for ₹ 15,000
2

Goods Returned to Rathore Brothers, Ranchi (Jharkhand) being not according to sample worth ₹
10
50,000

Allowance claimed from Laxman & Sons, Arrah (Bihar) on account of mistake in the invoice, ₹
20
20,000

45. Journalise the following transactions, post them into Ledger, balance the accounts and prepare a Trial Balance:- [6]

2023 ₹

March 1 Suraj Saini & Sons commenced business with cash 80,000

2 Purchase goods for cash 36,000

3 Machinery purchased for cash 4,000

4 Purchased goods from: Rahul 22,000

Deepak 30,000

6 Returned goods to Rahul 4,000

8 Paid to Rahul, in full settlement of his account 17,500

10 Sold goods to Mohit Singh & Co. for ₹ 32,000 at 5% trade discount

13 Received cash from Mohit Singh & Co. 19,800

8 / 15
 Discount allowed 200

15 Paid cash to Deepak 14,850

Discount received 150

20 Sold goods for cash 25,000

24 Sold goods for cash to Shankar Ltd. 18,000

25 Paid for Rent 1,500

26 Received to Commission 2,000

28 Withdrew by Proprietor for his personal use 5,000

28 Purchased a fan for Proprietor's house 1,200

46. Enter the following transactions in Return Outward Book of New Furniture House, Jaipur (Rajasthan) assuming [6]
CGST @ 6% and SGST @ 6% and post it into Ledger:

2023

Nov.
Returned to Mahakal Furniture Store, Gandhinagar (Gujarat):
7

5 Chairs @ ₹ 2,000 each

1 Table for ₹ 15,000

Less: 10% Trade Discount

Returned 8 Chairs to Sky Furniture House, Kota (Rajasthan) @ ₹ 1,500 each, being not of specified
22
quality

24 Returned one Dining Table to Jain & Co., Bikaner (Rajasthan) being not according to sample ₹ 50,000

Allowance claimed from Good Luck Furniture Shop, Gandhinagar (Gujarat) on account of mistake in
28
the invoice ₹16,000

47. Journalise the following transactions and post them into the Ledger: [6]

2023 ₹

April 1 Ramesh started business with cash 1,00,000

April 2 Deposited in bank 70,000

April 3 Bought goods for cash 5,000

April 4 Drew cash from bank for office 1,000

April 13 Sold to Kapil goods on credit 1,500

April 20 Bought goods from Shivam on credit 2,250

April 24 Received from Kapil 1,500

April 28 Paid Cash to Shivam 2,150

Discount allowed by him 100

9 / 15
 April 30 Cash sales for the month 8,000

April 30 Paid Rent 500

April 30 Paid Salary to Rajesh 3,000

48. Ashok of Delhi started business on 1st April, 2019 with Machinery of ₹4,00,000 and Furniture of ₹1,00,000. He [6]
purchased these assets from Delhi and paid by cheque from his Savings Account. He introduced capital of
₹1,00,000 in cash. Journalise the following transactions for the month of April, prepare the Ledger Accounts and
balance them:

2019 ₹

April 1 Purchased goods for cash from Ram, Delhi 55,000

April 4 Purchased goods from Naresh, Gurugram (Haryana) 40,000

April 6 Sold goods for cash 70,000

April 12 Cash depos ited into bank* 80,000

April 14 Purchased machinery costing ₹10,000 for cash

April 15 Sold goods to Garg Bros., Delhi 30,000

April 16 Returned goods to Naresh 2,000

April 28 Paid salary for the month of April* 10,000

April 30 Received bank interest* 400

April 30 Paid for courier charges 1,000

CGST and SGST is levied @ 6% each on intra-state transactions and @ 12% on inter-state transactions except
transactions marked with(*).
49. Enter the following transactions in Return Inward Book of M/s Keshar Lal & Co. of Pune (Maharashtra) [6]
assuming CGST @ 2.5% and SGST @ 2.5% and post it into Ledger:-

2023

Jan.
Goods returned to us by Gurudev & Co., Pune (Maharastra) worth ₹ 40,000, less 10% trade discount.
5

10 Sharma Brothers, Udaipur (Rajasthan) returned goods, being not according to sample ₹ 30,000.

Allowance claimed by Hukum Singh & Co., Kanpur (U.P.) on account of a mistake in the invoice ₹
16
10,000.

20 Goods returned by Sachin sons, Pune being defective ₹ 20,000.

50. Journalise the following transactions of Kamal, Delhi for April, 2019, post them in Ledger Accounts and balance [6]
them:

2019 ₹

April
Kamal started business with cash* 1,00,000
1

April Bought goods for cash 30,000

10 / 15
 2

April
Opened Bank Account with cash* 50,000
3

April
Sold goods for cash 40,000
4

April
Bought goods from Surya, Kanpur (UP) on credit 30,000
7

April
Sold goods to Rakesh, Delhi on credit 25,000
10

April Purchased Machinery costing ₹20,000 from Rahul Bros., Faridabad (Haryana) and payment
15 is made by cheque

April
Paid to Surya in cash on account* 20,000
19

April
Received loan from Anil and deposited the same into bank* 8,000
21

April
Goods returned to Surya 5,000
23

April
Withdrew from bank for personal use* 5,000
26

April
Paid to Surya by cheque in full settlement* 7,500
27

April
Received cash from Rakesh* 10,000
29

April
Purchased stationery for cash 500
30

CGST and SGST is levied @ 6% each on intra-state transactions and IGST @ 12% on inter-state transactions.
GST is not levied on transactions marked with (*).
51. Enter the following transactions in Purchases Book of Karan Mehra & Sons, Allahabad (U.P.) assuming CGST [6]
@ 6% and SGST @ 6% and post it into ledger:

2023

January
Bought goods from Gautam Kumar of Allahabad of credit for ₹2,50,000.
5

Purchased goods from Laxmi Industries of Siliguri (West Bengal) on credit of the list price of ₹
13
1,20,000 less 20% trade discount.

18 Purchased Furniture for ₹ 50,000 for office use.

28 Purchased goods from Narayan Modi of Vadodara Gujarat for ₹ 1,00,000 at 12 % discount.
1

52. Pass Journal Entries for the following transactions and post them into Ledger:- [6]

11 / 15
 2023 ₹

April
Sohan Shree & Sons commenced business with cash 2,00,000
1

3 Purchased office furniture for cash 20,000

5 Purchased goods for cash 50,000

8 Purchased goods - from Vikas Trading Co. 25,000

8 Purchased goods - from Mohit Garments 16,000

10 Returned goods to Vikas Trading Co. 5,000

Paid cash to Vikas Trading Co. in full settlement of their account, after deducting 5% cash
14
discount

15 Sold goods for cash 40,000

18 Sold goods to Hero Limited, less 10% Trade Discount 30,000

20 Sohan Shree withdrew from business for his personal use - Cash 10,000

20 Sohan Shree withdrew from business for his personal use - Goods 4,000

21 Paid to Mohit Garments 7,800

Discount received 200

22 Received from Hero Limited 8,850

Discount allowed 150

25 Sold goods to Harish Ltd. for cash 12,000

28 Purchased goods from Piyush Brothers 24,000

30 Paid for Rent ₹ 2,000 and Salaries ₹ 4,000

53. Record the following transactions in the Sales Book of Krishnaswami & Sons, Coimbatore (Tamilnadu) [6]
assuming CGST @ 9% and SGST @9% and post them into Ledger:-

2023

Dec. 5 Sold to M/s Saurabh Jain & Sons, Coimbatore, goods valued at ₹ 2,00,000 less Trade Discount 10%

10 Sold to M/s Naresh Prasad & Sons, Mysore (Karnataka):

75 Electric Fans @ ₹ 4,000 each

20 Room Coolers @ ₹ 10,000 each

Less: Trade Discount 8%

16 Suzuki & Co., Kollam (Kerala) purchased from us goods of ₹ 1,20,000, less: 5%

24 Sold goods for cash ₹ 60,000

54. Following balances appeared in the books of Ramesh & Suraj on January 1, 2023: [6]
Assets: Cash in hand ₹ 30,000; Stock ₹ 36,000; Jitendra ₹ 7,600; Rahul Gupta ₹ 16,200; Furniture ₹ 8,000

12 / 15
 Liabilities: Garuda ₹ 6,000; Vikram ₹ 8,000
Following transactions took place during Jan. 2023:

2023

Jan. 2 Purchased Typewriter for ₹ 7,500

4 Sold goods for Cash of the list price of ₹ 25,000 at 20% trade discount and 5% Cash discount

6 Sold goods to Ganesh Malik for ₹ 10,000

8 Ganesh Malik returned goods for ₹ 1,500

12 Purchased goods from Ankit ₹ 12,000; and from Vishal ₹ 15,000

13 Settled Ankit's account in full after deducting 5% for cash discount

14 Paid cash to Garuda in full settlement of his account

16 Received ₹ 7,500 from Jitendra in full settlement of his account

17 Purchased a Scooter for office use ₹ 18,000

20 Sold goods for cash ₹ 20,000

22 Received from Ganesh Malik ₹ 4,850 and discount allowed ₹ 150

27 Paid for Wages ₹ 7,000 and Salaries ₹ 3,000

28 Withdrew goods for ₹ 2,000 and Cash ₹ 1,500 for private use

29 Paid for Life Insurance Premium of the Proprietor ₹ 1,600

Journalise the above transactions, post them into Ledger, balance them and prepare a Trial Balance.
55. Enter the following transactions in the Journal of Ganesh and post to the Ledger: [6]

2023 ₹

Assets: Cash in Hand ₹ 20,000; Cash at Bank ₹ 35,000; Stock ₹ 15,000; Furniture ₹ 4,500;
April 1 Debtors: Priyanka ₹ 20,000; Suraj ₹ 10,000
Liabilities: Creditors: Abhishek ₹ 13,500; Prashant ₹ 21,500

April 4 Purchased goods from Prashant, 5,000

April 7 Paid to Abhishek by cheque in full settlement of his account 13,000

April 10 Sold goods to Priyanka, 11,000

April 12 Purchased goods from Abhishek, 15,000

April 15 Sold goods to Suraj, 6,000

April 18 Received cheque from Priyanka on account 24,500

Allowed her discount 500

April 25 Paid for stationery 1,200

April 27 Paid telephone bill by cheque 3,500

April 30 Paid salaries 6,000

13 / 15
56. Pass the Opening Entry on 1st April, 2023 on the basis of the following information taken from the books of [6]

Raman. Also, post the opening entry:

Cash in Hand 20,000

Sundry Debtors 60,000

Stock of Goods 40,000

Plant 50,000

Land and Building 1,00,000

Sundry Creditors 1,00,000

57. Journalise the following transaction in the books of Sanjana and post them into the ledger: [6]

2017 Amount (₹)

Jan. 01 Cash in hand 6,000

Cash at bank 55,000

Stock of goods 40,000

Due to Rohan 6,000

Due from Tarun 10,000

Jan. 03 Sold goods to Karuna 15,000

Jan. 04 Cash sales 10,000

Jan. 06 Goods sold to Heena 5,000

Jan. 08 Purchased goods from Rupali 30,000

Jan. 10 Goods returned from Karuna 2,000

Jan. 14 Cash received from Karuna 13,000

Jan. 15 Cheque given to Rohan 6,000

Jan. 16 Cash received from Heena 3,000

Jan. 20 Cheque received from Tarun 10.000

Jan. 22 Cheque received from to Heena 2,000

Jan. 25 Cash given to Rupali 18,000

Jan. 26 Paid cartage 1,000

Jan. 27 Paid salary 8,000

Jan. 28 Cash sale 7,000

Jan. 29 Cheque given to Rupali 12,000

Jan. 30 Sanjana took goods for Personal use 4,000

14 / 15
 Jan. 31 Paid General expense 500

58. Ankit started a business on 1st April, 2023 with Machinery of ₹ 10,00,000, Furniture of ₹ 2,50,000 and cash ₹ [6]

2,50,000.
Prepare the Ledger Accounts and balance them:

2023 ₹

April 1 Purchased goods for cash from Rakesh 1,37,500

April 4 Purchased goods from Naveen 1,00,000

April 6 Sold goods to Malhotra & Co. for cash 1,75,000

April 12 Cash deposited in bank 2,00,000

April 14 Purchased machinery by cheque 25,000

April 15 Sold goods to Ghanshyam Bros. 75,000

April 16 Returned goods to Naveen (not being as per specifications) 5,000

April 18 Paid to Naveen by cheque 50,000

April 20 Withdrawn from bank for personal use 25,000

April 25 Received cheque from Ghanshyam Bros. and deposited in bank 50,000

April 28 Paid salaries to staff for the month of April 25,000

April 28 Bank advises cheque of Ghanshyam Bros, returned unpaid

April 30 Received bank interest 1,000

April 30 Purchased stationery for cash 2,500

April 30 Rebate allowed to Ghanshyam Bros. for defects in goods supplied to them 1,500

59. Explain the procedure of balancing personal accounts. [3]

60. What do you understand by balancing of account? [3]
61. Explain the procedure for balancing a ledger account. [3]
62. After balancing of accounts, these always show Debit Balance. Is it Correct? [3]

15 / 15