[ISC] Q 8 Journal Solutions TS Grewal Class 11 (2023-24)

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Are you looking for the solution of Question number 8 Journal TS Grewal class 11 ISC 2023-24?

Analyse the following transactions, state the nature of accounts and state which account will be debited and which account will be credited:

S.NParticulars
1Purcahsed furniture for cash from Raj Furniture House75,000
2Purchased goods for cash55,000
3Sold goods for cash to Pal35,000
4Sold goods to Om60,000
5Deposited cash in bank for opening an account70,000
6Received a cheque from Om20,000
7Deposited Om’s cheque the next day
8Borrowed from Sohan1,00,000
9Paid interest on loan10,000
10Withdrew cash for personal use5,000

Solution:-

i)Furniture
Cash
Debit
Credit
75,000
75,000
ii)Purchase
Cash
Debit
Credit
55,000
55,000
iii)Cash
Sale
Debit
Credit
35,000
35,000
iv)Om
Sales
Debit
Credit
60,000
60,000
v)Bank
Cash
Debit
Credit
70,000
70,000
vi)Cheque in Hand
Ram
Debit
Credit
20,000
20,000
vii)Bank
Cheque in Hand
Debit
Credit
20,000
20,000
viii)Cash
Sohan
Debit
Credit
1,00,000
1,00,000
ix)Interest on Loan
Bank
Debit
Credit
10,000
10,000
x)Drawing
Cash
Debit
Credit
5,000
5,000

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Anurag Pathak

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