NCERT Class 11 Accountancy Chapter 4 Recording of transactions 2

NCERT Solutions for Class 11 Accountancy

NCERT Solutions is said to be an extremely helpful book during the preparation of the CBSE Class 11 Accounting Exams. This study material has deep knowledge, and the solutions collected by the subject matter wizards are not separate.

NCERT Solution For Class 11 Accountancy Chapter 4 – Introduction to Accounting provides us with all-inclusive information on all concepts. As students would have to learn the basics about the subject of accounting in class 11, this curriculum for class 11 is a comprehensive study material, which explains the concepts in a great way.

Below you can find the NCERT solution for Class 11 Accountancy. You can get a Solution for the all-important question of “Chapter 4 : Recording Of Transaction – II“

NCERT solution for Class 11 Accountancy Chapter – 4 Recording of transactions – 2 tells about the cash book, contra entry and the special purpose books in the life of an accountant. The need for a petty cash book and the way entries are recorded in the same. The difference between inward and outward entries is also explained in the chapter.

Download PDF NCERT Solution for Class 11 Accountancy Chapter 1 : Recording Of Transaction - II

Questions Covered – Page no. 152

Ques 1 : Briefly state how the cash book is both journal and a ledger?

Ques 2 : What is the purpose of contra entry?

Ques 3 : What are special purpose books?

Ques 4 : What is petty cash book? How it is prepared?

Ques 5 : Explain the meaning of posting of journal entries?

Ques 6 : Define the purpose of maintaining subsidiary journal.

Ques 7 : Write the difference between return inwards and return outwards.

Ques 8 : What do you understand by ledger folio?

Ques 9 : What is difference between trade discount and cash discount?

Ques 10 : Write the process of preparing ledger from a journal.

Ques 11 : What do you understand by Imprest amount in petty cash book?

Covered Questions – Page No – 152

Ques 1 : Explain the need for drawing up the special purpose books

Ques 2 : What is cash book? Explain the types of cash book

Ques 3 : What is contra entry? How can you deal this entry while preparing double column cash book?

Ques 4 : What is petty cash book? Write the advantages of petty cash book?

Ques 5 : Describe the advantages of sub-dividing the Journal.

Ques 6 : What do you understand by balancing of account?

Covered Questions – Page No – 153

Ques 1 :Enter the following transactions in a simple cash book for December 2016:
Rs
01 Cash in hand 12,000
05 Cash received from Bhanu 4,000
07 Rent Paid 2,000
10 Purchased goods Murari for cash 6,000
15 Sold goods for cash 9,000
18 Purchase stationery 300
22 Cash paid to Rahul on account 2,000
28 Paid salary 1,000
30 Paid rent 500

Ques 2 : Record the following transaction in simple cash book for November 2016:
Rs
01 Cash in hand 12,500
04 Cash paid to Hari 600
07 Purchased goods 800
12 Cash received from Amit 1,960
16 Sold goods for cash 800
20 Paid to Manish 590
25 Paid cartage 100
31 Paid salary 1,000

Ques 3 : Enter the following transaction in Simple cash book for December 2017:
Rs
01 Cash in hand 7,750
06 Paid to Sonu 45
08 Purchased goods 600
15 Received cash from Parkash 960
20 Cash sales 500
25 Paid to S. Kumar 1,200
30 Paid rent 600

Ques 4 : Record the following transactions in a bank column cash book for December 2016:
Rs
01 Started business with cash 80,000
04 Deposited in bank 50,000
10 Received cash from Rahul 1,000
15 Bought goods for cash 8,000
22 Bought goods by cheque 10,000
25 Paid to Shyam by cash 20,000
30 Drew from Bank for office use 2,000
31 Rent paid by cheque 1,000

Ques 5 : Prepare a double column cash book with the help of following information for December 2016:
Rs
01 Started business with cash 1,20,000
03 Cash paid into bank 50,000
05 Purchased goods from Sushmita 20,000
06 Sold goods to Dinker and received a cheque 20,000
10 Paid to Sushmita cash 20,000
14 Cheque received on December 06, 2010 deposited into bank
18 Sold goods to Rani 12,000
20 Cartage paid in cash 500
22 Received cash from Rani 12,000
27 Commission received 5,000
30 Drew cash for personal use 2,000

Ques 6 : Enter the following transactions in double column cash book of M/s Ambica Traders for July 2017:
Rs
01 Commenced business with cash 50,000
03 Opened bank account with ICICI 30,000
05 Purchased goods for cash 10,000
10 Purchased office machine for cash 5,000
15 Sales goods on credit from Rohan and received cheque 7,000
18 Cash sales 8,000
20 Rohan’scheque deposited into bank
22 Paid cartage by cheque 500
25 Cash withdrawn for personal use 2,000
30 Paid rent by cheque 1,000

Ques 7 : Prepare double column cash book from the following information for July 2017:
Rs
01 Cash in hand 7,500
Bank overdraft 3,500
03 Paid wages 200
05 Cash sales 7,000
10 Cash deposited into bank 4,000
15 Goods purchased and paid by cheque 2,000
20 Paid rent 500
25 Drew from bank for personal use 400
30 Salary paid 1,000

Ques 8 : Enter the following transaction in a double column cash book of M/s Mohit Traders for January 2017:
Rs
01 Cash in hand 3,500
Bank overdraft 2,300
03 Goods purchased for cash 1,200
05 Paid wages 200
10 Cash sales 8,000
15 Deposited into bank 6,000
22 Sold goods for cheque which was deposited into bank same day 2,000
25 Paid rent by cheque 1,200
28 Drew from bank for personal use 1,000
31 Bought goods by cheque 1,000

Ques 9 : Prepare double column cash book from the following transactions for the year August 2017:
Rs
01 Cash in hand 17,500
Cash at bank 5,000
03 Purchased goods for cash 3,000
05 Received cheque from Jasmeet 10,000
08 Sold goods for cash 7,000
10 Jasmeet’scheque deposited into bank
12 Purchased goods and paid by cheque 20,000
15 Paid establishment expenses through bank 1,000
18 Cash sales 7,000
20 Deposited into bank 10,000
24 Paid trade expenses 500
27 Received commission by cheque 6,000
29 Paid Rent 2,000
30 Withdrew cash for personal use 1,200
31 Salary paid 6,000

Ques 10 : M/s Ruchi trader started their cash book with the following balances on July 2017: cash in hand Rs 1,354 and balance in bank current account Rs 7,560. He had the following transaction in the month of July, 2017:
Rs
03 Cash sales 2,300
05 Purchased goods, paid by cheque 6,000
08 Cash sales 10,000
12 Paid trade expenses 700
15 Sales goods, received cheque (deposited same day) 20,000
18 Purchased motor car paid by cheque 15,000
20 Cheque received from Manisha (deposited same day) 10,000
22 Cash Sales 7,000
25 Manisha’scheque returned dishonoured
28 Paid Rent 2,000
29 Paid telephone expenses by cheque 500
31 Cash withdrawn for personal use 2,000

Prepare bank column cash book

Ques 11 : Prepare petty cash book from the following transactions. The imprest amount is Rs 2,000.

Jan-17		Rs

1	Paid cartage	50
2	STD charges	40
2	Bus fare	20
3	Postage	30
4	Refreshment for employees	80
6	Courier charges	30
8	Refreshment of customer	50
10	Cartage	35
15	Taxi fare to manager	70
18	Stationery	65
20	Bus fare	10
22	Fax charges	30
25	Telegrams charges	35
27	Postage stamps	200
29	Repair on furniture	105
30	Laundry expenses	115
31	Miscellaneous expenses	100

Ques 12 : Record the following transactions during the week ending January. 30, 2017 with a weekly imprest Rs 500.

	Rs
24 Stationery	100
25 Bus fare	12
25 Cartage	40
26 Taxi fare	80
27 Wages to casual labour	90
29 Postage	80

Ques 13 : Enter the following transactions in the Purchase Journal (Book) of M/s Gupta Traders of July 2017:

01 Bought from Rahul Traders as per invoice no. 20041
40 Registers @ Rs 60 each
80 Gel Pens @ Rs 15 each
50 note books @ Rs 20 each
Trade discount 10%.
15 Bought from Global Stationers as per invoice no. 1132
40 Ink Pads @ Rs 8 each
50 Files @ Rs 10 each
20 Color Books @ Rs 20 each
Trade Discount 5%
23 Purchased from Lamba Furniture as per invoice no. 3201
2 Chairs @ 600 per chair
1 Table @ 1,000 per table
25 Bought from Mumbai Traders as per invoice no. 1111
10 Paper Rim @ Rs 100 per rim
400 drawing Sheets @ Rs 3 each
20 Packet waters colour @ Rs 40 per packet

Ques 14 : Enter the following transactions in sales (journal) book of M/s. Bansal electronics:
2014 September

01 Sold to Amit Traders as per bill no.4321
20 Pocket Radio @ 70 per Radio
2, T.V. set, B&W.(6”) @ 800 Per T.V.
10. Sold to Arun Electronics as per bill no.4351
5 T.V. sets (20”) B&W @ Rs 3,000 per T.V.
2 T.V. sets (21”) Colour @ Rs 4,800 per T.V.
22 Sold to Handa Electronics as per bill no.4,399
10 Tape recorders @ Rs 600 each
5 Walkman @ Rs 300 each
28 Sold to Harish Trader as per bill no.4430
10 Mixer Juicer Grinder @ Rs 800 each.

Ques 15 : Prepare a purchases return (journal) book from the following transactions for April 2017.
Rs
05 Returned goods to M/s Kartik Traders 1,200
10 Goods returned to Sahil Pvt. Ltd. 2,500
17 Goods returned to M/s Kohinoor Traders for list price Rs 2,000 less 10% trade
discount.
28 Return outwards to M/s Handa Traders 550

Ques 16 : Prepare Return Inward Journal (Book) from the following transactions of M/s Bansal
Electronics for July 2017:

Jul-2017	Rs
04 M/s Gupta Traders returned the goods	1,500
10 Goods returned from M/s Harish Traders	800
18 M/s Rahul Traders returned the goods not as per specifications	1200
28 Goods returned from Sushil Traders	1,000

Ques 17 : Prepare proper subsidiary books and post them to the ledger from the following transactions for the month of February 2017:

2017 February		Rs

1	Goods sold to Sachin	5,000
4	Purchase from Kushal Traders	2,480
6	Sold goods to Manish Traders	2,100
7	Sachin returned goods	600
8	Returns to Kushal Traders	280
10	Sold to Mukesh	3,300
14	Purchased from Kunal Traders	5,200
15	Furniture purchased from Tarun	3,200
17	Bought of Naresh	4,060
20	Return to Kunal Traders	200
22	Return inwards from Mukesh	250
24	Purchased goods from Kirit& Co. for list price of less 10% trade discount	5,700
25	Sold to Shri Chand goods less 5% trade discount	6,600
26	Sold to Ramesh Brothers	4,000
28	Return outwards to Kirit and Co. less 10% trade discount	1,000
28	Ramesh Brothers returned goods Rs 500.

Ques 18 : The following balances of ledger of M/s Marble Traders on April 01, 2017
Rs
Cash in hand 6,000
Cash at bank 12,000
Bills receivable 7,000
Ramesh (Cr.) 3,000
Stock (Goods) 5,400
Bills payable 2,000
Rahul (Dr.) 9,700
Himanshu (Dr.) 10,000
Transactions during the month were:

	April	Rs
1	Goods sold to Manish	3,000
2	Purchased goods from Ramesh	8,000
3	Received cash from Rahul in full settlement	9,200
5	Cash received from Himanshu on account	4,000
6	paid to Remesh by cheque	6,000
8	Rent paid by cheque	1,200
10	Cash received from manish	3,000
12	Cash sales	6,000
14	14 Goods returned to Ramesh	1,000
15	Cash paid to Ramesh in full settlement	3,700
	Discount received	300
18	Goods sold to Kushal	10,000
20	Paid trade expenses	200
21	Drew for personal use	1,000
22	Goods return from Kushal	1,200
24	Cash received from Kushal	6,000
26	Paid for stationery	100
27	Postage charges	60
28	Salary Paid	2,500
29	Goods purchased from Sheetal Traders	7,000
30	Sold goods to Kirit	6,000
	Goods purchased from Handa Traders	5,000