11. Enter the following transactions in the Cash Book of Chandrika of Chandigarh

Question

11. Enter the following transactions in the Cash Book of Chandrika of Chandigarh: 2018 1,00,000 19,00,000 60,000 60,000 I 35,000 1 Chandrika commences business with cash. an. 3 She opened a Bank Current Account with her Savings Account cheque an 4 She receives cheque from Kirti & Co. on account.. Jan 7 She pays into Bank Kirti& Co.'s cheque an 10 She advanced Ratan & Co. by cheque an 12 Tripathi&Co.; pays into her Bank Au Jan 15 She receives cheque from Warsi and allows him discount 3,500 Jan. 20 She receives cash ?7,500 and cheque10,000 from Kalyan against credit balance n25 She pays into Bank, including cheques received on 15th and 20th January Jan. 27 | She pays by cheque for purchases ore 27,500 plus CGST and SGST @ 6% each Jan. 28 Cheque received from Warsi was dishonoured Jan. 30 She pays sundry expenses in cash Jan. 30 She pays John&Co.; in cash and is allowed discount 3,500.. Jan. 31 | She pays office rent 20,000 plus CGST and SGST @ 6% each by cheque 7,500 45,000 1,00,000 37,500 31 She draws a cheque for office use.40,000 30,000 Jan. 31 She pays staff salaries by cheqe Jan. 31 | She pays cash for stationery? 2.500 plus CGST and SGST @ 6% each Jan. 31 | She purchases goods for cash? 12.500 plus CGST and SGST @ 6% each Jan. 31 | She pays Jagpal by cheque for commission ? 30.000 plus CGST and SGST @ 6% each Jan. 31 | She receives cheque for commission of 50.000 plus CGST and SGST @ 6% each from Raghubir &Co.; and pays the same into Bank 31 | Cash Sales? 45.000 plus CGST and SGST @ 6% each Jan. Cash Balance-t 98,550; Bank Balance- 19,26,700.]

Explanation / Answer

Cash Date Dr Date Cr 1-Jan $100,000 30-Jan 50 20-Jan 7500 30-Jan 37500 (37500-3500) 31-Jan 50400 31-Jan 2800 (2500*112%) 31-Jan 14000 (12500*112%) ending bal $103,550 Bank Date Dr Date Cr 3-Jan $1,900,000 10-Jan 35000 7-Jan 60000 27-Jan 30800 (27500*112%) 12-Jan 47500 28-Jan 45000 25-Jan 100000 31-Jan 22400 31-Jan 56000 31-Jan 40000 31-Jan 30000 31-Jan 33600 (30000*112%) End bal $1,926,700

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