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Chapters
2: Theory Base of Accounting
3: Recording of Transactions - I
▶ 4: Recording of Transactions - II
5: Bank Reconciliation Statement
6: Trial Balance and Rectification of Errors
7: Depreciation, Provisions and Reserves
8: Bill of Exchange
9: Financial Statements - I
10: Financial Statements - II
11: Accounts from Incomplete Records
12: Applications of Computers in Accounting
13: Computerised Accounting System
![NCERT solutions for Accountancy - Financial Accounting 1 [English] Class 11 chapter 4 - Recording of Transactions - II - Shaalaa.com](/images/accountancy-financial-accounting-1-english-class-11_6:77076d0f0c55428e9084e26e14da9242.jpg "NCERT solutions for Accountancy - Financial Accounting 1 [English] Class 11 chapter 4 - Recording of Transactions - II")
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Solutions for Chapter 4: Recording of Transactions - II
Below listed, you can find solutions for Chapter 4 of CBSE NCERT for Accountancy - Financial Accounting 1 [English] Class 11.
NCERT solutions for Accountancy - Financial Accounting 1 [English] Class 11 4 Recording of Transactions - II Questions for practice [Page 152]
Short Answer
Briefly state how the cash book is both journal and a ledger
What is the purpose of contra entry?
What are special purpose books?
What is petty cash book? How it is prepared?
Explain the meaning of posting of journal entries?
Define the purpose of maintaining subsidiary journal
Write the difference between return inwards and return outwards
What do you understand by ledger folio?
What is difference between trade discount and cash discount?
Write the process of preparing ledger from a journal
What do you understand by Imprest amount in petty cash book?
NCERT solutions for Accountancy - Financial Accounting 1 [English] Class 11 4 Recording of Transactions - II Questions for practice [Pages 152 - 153]
Long Answer
Explain the need for drawing up the special purpose books
What is cash book? Explain the types of cash book
What is contra entry? How can you deal this entry while preparing double column cash book?
What is petty cash book? Write the advantages of petty cash book?
Describe the advantages of sub-dividing the Journal
What do you understand by balancing of account?
NCERT solutions for Accountancy - Financial Accounting 1 [English] Class 11 4 Recording of Transactions - II Numerical Questions [Pages 153 - 158]
Simple Cash Book
Enter the following transactions in a simple cash book for December 2016:
| ₹ | ||
| 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 |
Record the following transaction in simple cash book for November 2016:
| ₹ | ||
| 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 |
Enter the following transaction in Simple cash book for December 2017:
| ₹ | ||
| 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 |
Bank Column Cash Book
Record the following transactions in a bank column cash book for December 2016:
| ₹ | ||
| 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 |
Prepare a double column cash book with the help of following information for December 2016:
| ₹ | ||
| 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 |
Enter the following transactions in double column cash book of M/s Ambica Traders for July 2017:
| ₹ | ||
| 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's cheque deposited into bank | |
| 22 | Paid cartage by cheque | 500 |
| 25 | Cash withdrawn for personal use | 2,000 |
| 30 | Paid rent by cheque | 1,000 |
Prepare double column cash book from the following information for July 2017:
| ₹ | ||
| 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 |
Enter the following transaction in a double column cash book of M/s.Mohit Traders for January 2017:
| ₹ | ||
| 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 |
Prepare double column cash book from the following transactions for the year August 2017:
| ₹ | ||
| 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's cheque 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 |
M/s Ruchi trader started their cash book with the following balances on July 2017: cash in hand ₹ 1,354 and balance in bank current account ₹ 7,560. He had the following transaction in the month of July 2017:
| ₹ | ||
| 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's cheque 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
Prepare petty cash book from the following transactions. The imprest amount is ₹ 2,000.
| January | ₹ | |
| 01 | Paid cartage | 50 |
| 02 | STD charges | 40 |
| 02 | Bus fare | 20 |
| 03 | Postage | 30 |
| 04 | Refreshment for employees | 80 |
| 06 | Courier charges | 30 |
| 08 | 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 |
Record the following transactions during the week ending Dec.30, 2014 with a weekly imprest ₹ 500.
| January | ₹ | |
| 24 | Stationery | 100 |
| 25 | Bus fare | 12 |
| 25 | Cartage | 40 |
| 26 | Taxi fare | 80 |
| 27 | Wages to casual labour | 90 |
| 29 | Postage | 80 |
Other Subsidiary Books
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 @ ₹ 60 each |
|
|
80 Gel Pens @ ₹ 15 each |
|
|
50 note books @ ₹ 20 each |
|
|
Trade discount 10%. |
|
|
15 |
Bought from Global Stationers as per invoice no. 1132 |
|
40 Ink Pads @ ₹ 8 each |
|
|
50 Files @ ₹ 10 each |
|
|
20 Color Books @ ₹ 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 @ ₹ 100 per rim |
|
|
400 drawing Sheets @ ₹ 3 each |
|
|
20 Packet waters colour @ ₹ 40 per packet |
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 and W.(6'') @ 800 Per T.V. |
|
|
10. Sold to Arun Electronics as per bill no.4351 |
|
|
5 T.V. sets (20'') B and W @ ₹ 3,000 per T.V. |
|
|
2 T.V. sets (21'') Colour @ ₹ 4,800 per T.V. |
|
|
22 |
Sold to Handa Electronics as per bill no.4,399 |
|
10 Tape recorders @ ₹ 600 each |
|
|
5 Walkman @ ₹ 300 each |
|
|
28 |
Sold to Harish Trader as per bill no.4430 |
|
10 Mixer Juicer Grinder @ ₹ 800 each. |
Prepare a purchases return (journal) book from the following transactions for April 2017.
| 2017 April |
₹ |
|
|
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 ₹ 2,000 less 10% trade discount. |
|
|
28 |
Return outwards to M/s Handa Traders |
550 |
Prepare Return Inward Journal (Book) from the following transactions of M/s Bansal Electronics for July 2017:
| 2017 July |
₹ | |
| 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 | 1,200 |
| 28 | Goods returned from Sushil Traders | 1,000 |
Recording, Posting and Balancing
Prepare proper subsidiary books and post them to the ledger from the following transactions for the month of February 2017:
|
2017 February |
|
₹ |
|
01 |
Goods sold to Sachin |
5,000 |
|
04 |
Purchase from Kushal Traders |
2,480 |
|
06 |
Sold goods to Manish Traders |
2,100 |
|
07 |
Sachin returned goods |
600 |
|
08 |
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 and Co. for list price of |
5,700 |
|
|
less 10% trade discount |
|
|
25 |
Sold to Shri Chand goods |
6,600 |
|
|
less 5% trade discount |
|
|
26 |
Sold to Ramesh Brothers |
4,000 |
|
28 |
Return outwards to Kirit and Co. |
1,000 |
|
|
less 10% trade discount |
|
|
28 |
Ramesh Brothers returned goods ₹ 500. |
The following balances of ledger of M/s Marble Traders on April 01, 2017
| 2017 April |
₹ |
|
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 |
₹ |
|
|
01 |
Goods sold to Manish |
3,000 |
|
02 |
Purchased goods from Ramesh |
8,000 |
|
03 |
Received cash from Rahul in full settlement |
9,200 |
|
05 |
Cash received from Himanshu on account |
4,000 |
|
06 |
paid to Remesh by cheque |
6,000 |
|
08 |
Rent paid by cheque |
1,200 |
|
10 |
Cash received from manish |
3,000 |
|
12 |
Cash sales |
6,000 |
|
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 |
Journalise the above transactions and post them to the ledger
Solutions for 4: Recording of Transactions - II
NCERT solutions for Accountancy - Financial Accounting 1 [English] Class 11 chapter 4 - Recording of Transactions - II
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Concepts covered in Accountancy - Financial Accounting 1 [English] Class 11 chapter 4 Recording of Transactions - II are Recording of Transactions 2, Meaning of Cash Book, Purchases Book, Purchases Returns Book, Sales Book Or Sales Day Book, Sales Returns Book, Journal Proper, Balancing the Accounts.
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