[ISC] Q 11, 12 Journal Solutions TS Grewal Class 11 (2026-27)
Solution of Question number 11 and 12 Journal TS Grewal class 11 ISC 2026-27
Q. 11. Record the following transactions in the Journal of Ashoka Furniture Traders, Ludhiana (Punjab):
| 2022 Jan. 1 | Started business with cash | 50,000 |
| Jan. 2 | Opened a Current Account by personal cheque | 3,50,000 |
| Jan. 10 | Purchased machinery against cheque | 1,00,000 |
| Jan. 15 | Paid wages for installation of machinery | 2,000 |
| Jan. 20 | Purchased timber from Singh & Co. Ludhiana (Punjab) at the list price of ₹ 20,000 less 10% trade discount | |
| Jan. 25 | Out of the above, timber used for furnishing the office | 5,000 |
| Jan. 31 | Sold timber to Rakesh on the list price of ₹ 10,000 and allowed him 10% trade discount | |
| Feb. 10 | Issued a cheque to Singh & Co. in settlement | 17,500 |
| Feb. 15 | Received from Rakesh in full and final settlement | 8,750 |
| Feb. 20 | Paid fee to lawyer | 15,000 |
| Feb. 25 | Issued a cheque for rent of February | 5,000 |
Solution:-
Q. 12. Journalise the following transactions:
| 2022 (a) | Shyam became insolvent. A first and final compensation of 75 paise in a rupee was received from his official receiver. He owed a debt of | 10,000 |
| (b) | Received cash for a bad debt written off last year | 5,000 |
| (c) | Rent due to landlord | 8,000 |
| (d) | Depreciation on office furniture | 1,000 |
| (e) | Salaries due to staff | 10,000 |
| (f) | Paid income tax | 30,000 |
| (g) | Received commission ₹ 5,000, half of which is in advance. | |
| (h) | Bank levied bank charges | 500 |
| (i) | Sold personal car for ₹ 1,00,000 and deposited the amount in firm’s account |
Solution:-
