Class 11

Subject- Accountancy
Holidays Home Work Assignment
1. Journalise the following transactions in the books of Himanshu: 2015
Dec.01 Business started with cash 75,000
Dec.07 Purchased goods for cash 10,000
Dec.09 Sold goods to Swati 5,000
Dec.12 Purchased furniture 3,000
Dec.18 Cash received from Swati In full settlement 4,000
Dec.25 Paid rent 1,000 Dec.30 Paid salary 1,500

2. Enter the following Transactions in the Journal of Mudit :.

2016
Jan.01 Commenced business with cash 1,75,000 ,Building 1;00,000
Jan.02 Goods purchased for cash 75,000
Jan.03 Sold goods to Ramesh 30,000
Jan.04 Paid wages 500
Jan.06 Sold goods for cash 10,000
Jan.10 Paid for trade expenses 700
Jan.12 Cash received from Ramesh 29,500 Discount allowed 500
Jan.14 Goods purchased for Sudhir 27,000
Jan.18 Cartage paid 1,000
Jan.20 Drew cash for personal use 5,000
Jan.22 Goods use for house hold 2,000
Jan.25 Cash paid to Sudhir 26,700 Discount allowed 300
3. Journalise the following transactions: 2014
Dec. 01 Hema started business with cash 1,00,000
Dec. 02 Open a bank account with SBI 30,000
Dec. 04 Purchased goods from Ashu 20,000
Dec.06 Sold goods to Rahul for cash 15,000
Dec.10 Bought goods from Tara for cash 40,000
Dec.13 Sold goods to Suman 20,000
Dec.16 Received cheque from Suman 19,500 Discount allowed 500
Dec.20 Cheque given to Ashu on account 10,000
Dec.22 Rent paid by cheque 2,000
Dec.23 Deposited into bank 16,000
Dec.25 Machine purchased from Parigya 10,000
Dec.26 Trade expenses 2,000
Dec.28 Cheque issued to Parigya 10,000
Dec.29 Paid telephone expenses by cheque 1,200
Dec.31 Paid salary 4,500

4. Jouranlise the following transactions in the books of Happy Bros.:

(a)`1,000 due from Rohit are now a bad debts.
(b) Goods worth `2,000 were used by the proprietor.
(c) Charge depreciation @ 10% p.a for two month on machine costing 30,000
(d) Provide interest on capital of 1,50,000 at 6% p.a. for 9 months.
(e) Rahul become insolvent, who owed is^ 2,000 a final dividend of 60 paise
in a rupee is received from
his estate.
5. Prepare Journal from the transactions given below
(a) Cash paid for installation of machine ` 500
(b) Goods given as charity ` 2,000
(c) Interest charge on capital @7% p.a. when total ^ 70,000capital were
(d) Received `1,200 of a bad debts written-off last year.
(e) Goods destroyed by fire ^ 2,000
(f) Rent outstanding ` 1,000
(g) Interest on drawings ` 900
(h) Sudhir Kumar who owed me 3,000 has failed to pay the amount.He pays
me a compensation of 45
paise in a rupee.
(i) Commission received in advance ~ 7,000

6. Journalise the following transactions, post to the ledger: 2014

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
Nov. 08 Purchase furniture for cash 5,000
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 Discount allowed 200
Nov. 30 Salary paid 3,000

7. Journalise the following transactions is the journal of M/s GoelBrothers

and post them to the ledger.
2015
Jan. 01 Started business with cash 1,65,000
Jan. 02 Open 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 house hold 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

8 Give journal entries of M/s Mohit traders, Post them to the Ledgerfrom the
following transactions
August 2014
1. Commenced business with cash 1,10,000
2. Opened bank account with H.D.F.C. 50,000
3. Purchased furniture 20,000
7. Bought goods for cash from M/s Rupa Traders 30,000
8. Purchased good from M/s Hema Traders 42,000
10. Sold goods for cash 30,000
14. Sold goods on credit to Ms. Gupta Traders 12,000
16.Rent paid 4,000
18. Paid trade expenses 1,000
20. Received cash from Gupta Traders 12,000
22. Goods return to Hema Trade` 2,000
23. Cash paid to Hema Traders 40,000
25. Bought postage stamps 100
30. Paid salary to Rishabh 4,000

9. Jouralise the following transaction in the Books of the M/s BhanuTraders

and Post them into the
Ledger.
December, 2014
1. Started business with cash 92,000
2. Deposited into bank 60,000
4. Bought goods on credit from Himani 40,000
6. Purchased goods from cash 20,000
8. Returned goods to Himani 4,000
10. Sold goods for cash 20,000
14. Cheque given to Himani 36,000
17. Goods sold to M/s Goyal Trade` 3, 50,000
19.Drew cash from bank for personal use 2,000
21. Goyal traders returned goods 3,500
22. Cash deposited into bank 20,000
26. Cheque received from Goyal Traders 31,500
28. Goods given as charity 2,000
29. Rent paid 3,000
30. Salary paid 7,000
31. Office machine purchased for cash 3,000

10. Journalise the following transaction in the Book of M/s Beautitraders.

Also post them in the ledger.
Dec. 2014
1. Started business with cash 2,00,000
2. Bought office furniture 30,000
3. Paid into bank to open an curent account 1,00,000
5. Purchased a computer and paid by cheque 2,50,000
6. Bought goods on credit from Ritika 60,000
8. Cash sales 30.000
9. Sold goods to Karishna on credit 25,000
12. Cash paid to Mansi on account 30,000
14. Goods returned to Ritika 2,000
15. Stationery purchased for cash 3,000
16. Paid wages 1,000
18. Goods returned by Karishna 2,000
20. Cheque given to Ritika 28,000
22. Cash received from Karishna on account 15,000
24. Insurance premium paid by cheque 4,000
26. Cheque received from Karishna 8,000
28. Rent paid by cheque 3,000
29. Purchased goods on credit from Meena Traders 20,000
30. Cash sales 1-4,000

11. Journalise the following transaction in the . books of - Sanjana an andpost

nost them them into into the the ledger:
1, January, Cash in 2015 hand 6,000 Cash at bank 55,000 Stock of goods
40.000 Due to Rohan
6,000 Due from Tarun
10,000
3. Sold goods to Karuna 15,000
4. Cash sales 10,000
6. Goods sold to Heena 5,000
8. Purchased goods from Rupali 30,000
10. Goods returned from Karuna 2,000
14. Cash received from Karuna 13,000
15. Cheque given to Rohan 6,000
16. Cash received from Heena 3,000
20. Cheque received from Tarun 10.000
22. Cheque received from to Heena 2,000
25. Cash given to Rupali 18,000
26. Paid cartage 1,000
27. Paid salary 8,000
28. Cash sale 7,000
29. Cheque given to Rupali 12,000
30. Sanjana took goods for Personal use 4,000
31. Paid General expense 500

12. The following balances of ledger of M/s Marble Traders on April 01, 2015
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.) 10,0
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 6000
30 Goods purchased trom Handa Traders 5,000

13. Journalize the above transactions and post them to the ledger.
Soraj Mart furnishes the following information : Transactions during the
month of April, 2015 are as
under:
1.4.2015 Business started with cash ^ 1,50,000,
1.4.2015 Goods purchased form Manisha`36,000
1.4.2015 Stationery purchased for cash^2.200
2.4.2015 Open a bank account with SBI for` 35,000.
2.4.2015 Goods sold to Priya for ^ 1 6,000.
3.4.2015 Received a cheque of ^ 16,000 from Priya.
5.4.2015 Sold goods to Nidhi ^ 14,000,
08.4.2015 Nidhi pays` 14,000 cash.
10.4.2015 Purchased goods for ` 20,000 on credit from Ritu.
14.4.2015 Insurance paid by cheque^ 6,000
18.4.2015 Paid rent`2,000
20.4.2015 Goods costing ` 1,500 given as charity.
24.4.2015 Purchased office furniture for` 1 1,200.
29.4.2015 Cash withdrawn for household purposes^5000
30.4.2015 Interest received cash `1,200.
30.4.2015 Cash sales `2,300
30.4.2015 Commission paid` 3,000 by cehque
30.4.2015 Telephone bill paid by cheque ` 2,000.
30.4.2015 Payment of salaries in cash`12,000.

14. Journalise the following transactions of M/s Time Zone and post them to
the ledger accounts
2014`
Dec. 01 Business started with cash 1,20,000
Dec. 02 Opened a bank account with ICIC1 4,00,00
Dec. 04 Goods purchased for cash 12,000
Dec. 10 Paid cartage 500
Dec. 12 Goods sold on credit to M/s Lara India 25,000
Dec. 14 Cash received from M/s Lara India 10,000
Dec. 16 Goods returned from Lara India 3,000
Dec. 18 Paid trade expenses 700
Dec. 19 Goods purchased on credit from Taranum 32,000
Dec. 20 Cheque received from M/s Lara India for final settlement 11,500 and
deposited same day into
bank
Dec. 22 Goods returned to Taranum 1,500
Dec. 24 Paid for stationery 1,200
Dec. 26 Cheque given to Taranum on account 20,000
Dec. 28 Paid rent by cheque 4,000
Dec. 29 Drew cash for personal use 10,000
Dec. 30 Cash sales 12,000
Dec.31 Goods sold to M/s Rupak Traders 1 1,000
1. Give one transaction for each of the following that will:

1. Increase an asset and Increase in liability

2. Decrease in asset and decrease in liability
3. Decrease an asset and decrease capital
2. How will you deal with the following items in Accounting Equation:

1. Interest on Capital
2. Interest on Drawings
3. Accrued Income
4. Unearned Income
5. Prepaid Expenses
6. Outstanding Expenses

3. Calculate total assets if Capital is Capital is ₹40,000, Creditors ₹30,000,

Revenue earned during the period 275,000, Expenses incurred during the
period ₹20,000. Value of Stock unsold ₹20,000.

4 . Peter has the following assets and liabilities as on 31st December 2014.
Ascertain his capital: Cash ₹2,500; Bank ₹4750; Debtor ₹1,800; Creditor
₹2,200; Plant and Machinery ₹8,000; Building ₹20,000; Furniture ₹2,400; Bills
receivable 25,650: Bills Payable ₹2,350.

5 Prepare an Accounting Equation from the following:

1. Started business with Cash ₹50,000.
2. Paid Salary 25,000.
3. Rent Outstanding ₹1,000.
4. Accrued Interest ₹1,500.
5. Interest on Capital 22, 500.
6.Bought goods for cash ₹30,000 and on Credit for ₹50,000.
7. Goods costing ₹10,000 sold at a profit of 25%, out of which ₹7,000 received
in cash.
8. Purchased a Television for personal use ₹2,500.

Prepare Accounting Equation from the following:

1. Nitin started business with cash ₹75,000; goods ₹30,000; Machinery
₹50,000 and Furniture $25,000.
2. 1/3rd of the above goods sold at a profit of 10% on cost and half of the
payment is received In cash.
3. Depreciation on Machinery provided at 10%.

4. Cash withdrawn for personal use ₹10,000.

5. Interest on drawing charged @ 5%.

6. Goods sold to Jacob for 25,000 and received a Bill Receivable for the same
amount for three Months.
7. Received 25,000 from Jacob against the Bill Receivable on its maturity.

Show the accounting equation on the basis of the following transactions &
also show the Balance Sheet.
1. Started the business with Cash ₹80,000; Goods ₹30,000; Furniture ₹40,000.
2. Purchased goods on credit from Nidi, ₹15,000 and on cash from Meera
₹10,000.
3. Bought a refrigerator for personal use ₹5,000.
4. Goods costing 26,000 sold at the loss of 10% out of which ₹2,000 received
in cash.
5. Received cash from debtor ₹3,200 in full settlement.
6. Sold goods for cash ₹5,000.
7. Introduced fresh capital ₹1,00,000.
8. Rent outstanding 25,000.
9. Accrued interest ₹10,000,

Prepare an Accounting Equation from the following:

1. Started the business with Cash ₹1,00,000; goods ₹50,000 and loan ₹15,000.
2. Goods costing 24,000 sold at a profit of 33 1/3 % and 3/4th payment
received in Cash.
3. Paid three months rent in advance for office 26,000.
4. Goods withdrawn for personal use ₹10,000.
5. Interest on drawings at the rate of 255.
6. Goods given as charity ₹1,000.
7. Loss of Cash by theft ₹1,000.
8. Loan taken was repaid with interest ₹150.
9. Purchased Securities ₹10,000.
10. Sold Securities costing ₹3000 for ₹3,500.

Prepare an Accounting Equation from the following information:

Jacob Started business with ₹15,00,000.
1. Opened a bank account in State Bank Of India with ₹4,80,000.
2. Bought Furniture for ₹60,000 and a cheque was issued on the same day.
3.Bought Plant and Machinery for business for ₹1,25,000 and advance of
₹10,000 in cash is paid to M/s Ramjee Lal.
4. Goods purchased from M/s Sunil Trade for 255,000.
5. Goods costing ₹25,000 sold to Rajani Enterprises for ₹35,000.
6. Paid Salary ₹2,500 and Salary outstanding ₹1,000.
7. Depreciation on Plant and Machinery ₹1,200.
10 Prepare an Accounting Equation from the following information:
1-4-2011 Business started with Cash ₹1,50,000.
1-4-2011 Goods purchased from Manisha ₹36,000.
1-4-2011 Stationery purchased for cash 22,200.
2-4-2011 Opened a bank account with SBI for 232,000,
3-4-2011 Goods sold to Priya for ₹16,000.
5-4-2011 Purchased goods from Namita for 220,000.
10-4-2011 Insurance paid by cheque ₹2,250.
11-4-2011 Cash withdrawn for household purpose 25,000.
13-4-2011 Interest received ₹250 in cash.
14-4-2011 Rent paid in advance 2550.

11 Calculate the capital as on 1-1-2012 in each of the following cases

1. On 31-12-2012 the total assets and external liabilities were 230,000 and
2900 respectively. During the year the proprietor earned ₹3,000.
2.If in the preceding case the proprietor had introduced additional capital
23,000 and had withdrawn ₹1,800 for personal use.

12 .Calculate total equity and owner equity if:

1. Owner's equity in the beginning ₹36,000.
2. Equity of Creditor at the end 230,000.
3. Revenue during the period is 242,000.
4. Expenses during the same period are ₹39,000.
13 Show the effect of the following transactions on Accounting Equation and
also prepare a Balance Sheet.
1. Started business with cash amounting to ₹35,000 and goods ₹15,000.
2. Salaries paid ₹2,000.
3. Wages Outstanding ₹200.
4. Prepaid Insurance ₹700.
5. Interest due but not paid ₹100.
6.Rent paid in advance ₹150.

14.Show the accounting equation on the basis of the following transactions

1. Started business with Cash 260,000.
2. Rent received ₹2,000,
3. Accrued Interest ₹500.
4. Commission received in advance ₹1,000.

15. Mr.Pai started a business with a cash investment of ₹21,00,000. The

following business transactions have been recorded:
1. Paid three months advance rent for office accommodation ₹2,520.
2. Bought Car for Office ₹12,00,000,
3. Purchased furniture 242.250.
4. Bought Computer from Computer Visions ₹25,000.
5. Sold furniture at cost to Peter for ₹21.000.
6. Peter paid $15,000 in Cash and accepted a bill at three months for the
balance.
7. Paid telephone bill ₹2,500 and electricity bill of ₹4,500.
8. Peter paid the amount of the bill due on maturity.
9. Collected ₹3,500 as Commission and Commission received in advance
₹2,500.
10. Purchased goods for 211,250 at a trade discount of 10%.

16.Amit had the following transactions. Use accounting equation to show the
effect on his assets liabilities and Capital.
1. Commenced business with Cash ₹12,50,000.
2. Purchased securities for ₹15,000 in cash.
3. Purchased goods for 1,00,000 at a trade discount of 10% and cash discount
of 5% from Mahek. Paid the cash on the same day and availed the cash
discount.
4. Sold goods costing ₹1000 for 1,200.
5. Received dividend on securities ₹250.
6. Goods lost by fire ₹1000.
7. Purchased goods for cash 12,000 and on credit ₹15,000.
8. Mr. White sold goods to us ₹23,500.
9. Settled White's account by paying ₹23,000.
10. Mr.Black purchased goods from us ₹ 10,000 and accepted a bill of
exchange.
11. Settled the Creditor account by paying 14,500.

17.Show the Accounting equation on the basis of the following transactions

and prepare a Balance Sheet.
1. Shyam commenced business with cash 235,00,000; Goods ₹80,000;
Furniture 22,00,000.
2. Sold goods costing 224,000 for cash to Ramesh ₹26,500.
3. Commission received in advance ₹2,500.
4. Depreciation on furniture ₹4050.
5. Deposited in the bank ₹2,50,000.
6. Purchased household goods for ₹15,000 giving 25,000 in cash and balance
through a loan.
7. Paid 27500 for loan and ₹250 as interest.
8. Accrued interest ₹250.
9. Goods destroyed by fire (Cost ₹500, Sale price ₹600)
10. Withdrew 2550 for pezonal use.

18 Show the accounting equation on the basis of the following transactions:

1) Shri Ganesh commenced business with cash ₹35,000, goods ₹8,000 and
furniture 27,000.
2) Bought furniture from M/s Mohan Furnitures on credit for ₹3,000.
3) Purchased goods from Sohan for cash ₹35,000.
4) Sold goods to Shyam for cash 240,000(costing ₹30,000).
5) Bought goods from Ramesh ₹30,000.
6) Sold goods to Shyam costing ₹30,000 for ₹50,000.
7) Received ₹49,500 from Shyam in full settlement.
8) Paid ₹29,700 to Ramesh in full settlement.
9) Paid half the amount owed to M/s Mohan.
10) Withdrew ₹1,000 for personal use.
11) Withdrew goods for personal use(cost ₹500, sale price ₹600).
12) Purchased household goods for ₹15,000 giving 25,000 in cash and the
balance through a loan.
13) Paid cash ₹500 for loan and 2300 for interest.
14) Goods destroyed by fire (cost ₹500, sale price ₹600)
15) Paid salary ₹500 and salary outstanding ₹100.
16) Paid rent in advance ₹2,000.
17) Accrued interest ₹ 500.
18) Commission received in advance ₹ 1,000.
19) Charged depreciation of ₹400 on furniture.