{"id":25429,"date":"2024-12-30T11:52:13","date_gmt":"2024-12-30T06:22:13","guid":{"rendered":"https:\/\/scholarsclasses.com\/blog\/?p=25429"},"modified":"2025-12-22T10:13:34","modified_gmt":"2025-12-22T04:43:34","slug":"11th-bk-chapter-3-practical-problems","status":"publish","type":"post","link":"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-3-practical-problems\/","title":{"rendered":"11th BK Chapter 3 Practical Problems &#8211; (Journal) &#8211; Free Resource"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69e068383eb82\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69e068383eb82\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-3-practical-problems\/#11th_BK_Chapter_3_Practical_Problems\" >11th BK Chapter 3 Practical Problems<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-3-practical-problems\/#Chapter_3_%E2%80%93_Journal\" >Chapter  3 &#8211; Journal<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-3-practical-problems\/#Q1_Answer_in_One_Sentence\" >Q.1 Answer in One Sentence:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-3-practical-problems\/#Q2_Give_one_wordterm_or_phrase_for_each_of_the_following_statements\" >Q.2 Give one word\/term or phrase for each of the following statements:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-3-practical-problems\/#Q3_Select_the_most_appropriate_alternative_from_the_alternatives_given_below_and_rewrite_the_statement\" >Q.3 Select the most appropriate alternative from the alternatives given below and rewrite the statement<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-3-practical-problems\/#Q4_State_whether_the_following_statements_are_true_or_false_with_reasons\" >Q.4 State whether the following statements are true or false with reasons<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-3-practical-problems\/#Q5_Fill_in_the_blanks\" >Q.5 Fill in the blanks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-3-practical-problems\/#Q6\" >Q.6<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-3-practical-problems\/#Q7_Correct_the_following_statements_and_rewrite_the_statements\" >Q.7 Correct the following statements and rewrite the statements<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-3-practical-problems\/#Q8_Do_you_agree_or_disagree_with_following_statements\" >Q.8 Do you agree or disagree with following statements?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-3-practical-problems\/#Q9_Calculate_the_following\" >Q.9 Calculate the following<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-3-practical-problems\/#Q10_Complete_the_following_table\" >Q.10 Complete the following table.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-3-practical-problems\/#11th_BK_Chapter_3_Practical_Problems-2\" >11th BK Chapter 3  Practical Problems<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-3-practical-problems\/#11th_BK_Textbook_Solutions\" >11th BK Textbook Solutions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-3-practical-problems\/#Check_out_other_posts_related_to_the_11th_Commerce\" >Check out other posts related to the 11th Commerce<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-3-practical-problems\/#Online_lectures_of_Class_12_Commerce\" >Online lectures of Class 12 Commerce<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading has-text-align-center\"><span class=\"ez-toc-section\" id=\"11th_BK_Chapter_3_Practical_Problems\"><\/span>11th BK Chapter 3 Practical Problems<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"576\" data-src=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2024\/12\/11th-BK-Textbook-Solutions-1024x576.webp\" alt=\"11th BK Chapter 3 Practical Problems\" class=\"wp-image-36035 lazyload\" title=\"\" data-srcset=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2024\/12\/11th-BK-Textbook-Solutions-1024x576.webp 1024w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2024\/12\/11th-BK-Textbook-Solutions-300x169.webp 300w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2024\/12\/11th-BK-Textbook-Solutions-768x432.webp 768w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2024\/12\/11th-BK-Textbook-Solutions.webp 1280w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/576;\" \/><figcaption class=\"wp-element-caption\">11th BK Chapter 3 Practical Problems<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center has-black-color has-vivid-green-cyan-background-color has-text-color has-background has-medium-font-size\"><span class=\"ez-toc-section\" id=\"Chapter_3_%E2%80%93_Journal\"><\/span><strong>Chapter  3 &#8211; <strong><strong>Journal<\/strong><\/strong><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q1_Answer_in_One_Sentence\"><\/span>Q.1 Answer in One Sentence:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>1) What is Journal?<br>Answer:<\/strong> A Journal is a book of original entry are recorded transactions not provided for in specialised journals.<\/p>\n\n\n\n<p><strong>2) What is Narration?<br>Answer:<\/strong> \u201cNarration is a brief explanation of the Journal Entry\u201d. It is written in the bracket and begins with a word, \u2018Being\u2019.<\/p>\n\n\n\n<p><strong>3) What is GST?<br>Answer:<\/strong> GST stands for Goods and Service Tax. Before GST every State had a variety of taxes levied at different stages of trading.<\/p>\n\n\n\n<p><strong>4) In which year GST was imposed by the Central Government of India?<br>Answer:<\/strong> GST is started from 1st of July 2017.<\/p>\n\n\n\n<p><strong>5) What is meant by simple entry?<br>Answer:<\/strong> In a simple entry, only two accounts are affected, one account is debited and the other is credited.<\/p>\n\n\n\n<p><strong>6) What is the meaning of combined entry?<br>Answer:<\/strong> A Journal Entry which contains more than one debit or more than one credit or both is called as a combined\/compound Journal Entry.<\/p>\n\n\n\n<p><strong>7) Which account is debited, when rent is paid by Debit card?<br>Answer:<\/strong> When rent is paid by Debit card Rent Account is debited.<\/p>\n\n\n\n<p><strong>8) Which discount is not recorded in the books of account?<br>Answer:<\/strong> Trade discount is not recorded in the books of account.<\/p>\n\n\n\n<p><strong>9) In which order monthly transactions are recorded in a Journal?<br>Answer:<\/strong> In order of their occurrence monthly transactions are recorded in a Journal.<\/p>\n\n\n\n<p><strong>10) Which account is credited when goods are sold on credit?<br>Answer:<\/strong> When goods are sold on credit, the Sales account is credited.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q2_Give_one_wordterm_or_phrase_for_each_of_the_following_statements\"><\/span>Q.2 Give one word\/term or phrase for each of the following statements:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>1) A book of prime entry.<br>Answer:<\/strong> Journal<\/p>\n\n\n\n<p><strong>2) The tax imposed by Central Government on Goods and Services.<br>Answer:<\/strong> GST<\/p>\n\n\n\n<p><strong>3) Brief explanation of an entry.<br>Answer:<\/strong> Narration<\/p>\n\n\n\n<p><strong>4) The process of recording transactions in the Journal.<br>Answer:<\/strong> Journalising<\/p>\n\n\n\n<p><strong>5) The French word from which the word Journal is derived.<br>Answer:<\/strong> Jour<\/p>\n\n\n\n<p><strong>6) Concession given for immediate payment.<br>Answer:<\/strong> Cash Discount<\/p>\n\n\n\n<p><strong>7) Entry in which more than one accounts are to debited or credited.<br>Answer:<\/strong> Combined Entry<\/p>\n\n\n\n<p><strong>8) Anything taken by proprietor from business for his private use.<br>Answer:<\/strong> Drawings<\/p>\n\n\n\n<p><strong>9) Tax payable to the Government on purchase of goods.<br>Answer:<\/strong> Input Tax<\/p>\n\n\n\n<p><strong>10) Page number of the ledger.<br>Answer:<\/strong> Ledger Folio<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q3_Select_the_most_appropriate_alternative_from_the_alternatives_given_below_and_rewrite_the_statement\"><\/span>Q.3 Select the most appropriate alternative from the alternatives given below and rewrite the statement<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>1) _____ means explanation of the transactions recorded in the Journal.<br><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">a) Narration <br><\/mark><\/strong>b) Journalising <br>c) posting <br>d) Casting<\/p>\n\n\n\n<p><strong>2) ____ discount is not recorded in the books of accounts.<\/strong><br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">a) Trade <br><\/mark><\/strong>b) Cash <br>c) GST <br>d) VAT<\/p>\n\n\n\n<p><strong>3) Recording of transactions in Journal is called _____.<\/strong><br>a) posting <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">b) journalising <br><\/mark><\/strong>c) narration <br>d) prime entry<\/p>\n\n\n\n<p><strong>4) Every Journal entry requires _____.<\/strong><br>a) casting <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">b) posting <br><\/mark><\/strong>c) narration <br>d) journalising<\/p>\n\n\n\n<p><strong>5) The _____ column of the Journal is not recorded at the time of journalising.<\/strong><br>a) date <br>b) particulars <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">c) ledger folio <br><\/mark><\/strong>d) amount<\/p>\n\n\n\n<p><strong>6) Goods sold on credit should be debited to _____.<\/strong><br>a) purchase A\/c <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">b) customer A\/c <br><\/mark><\/strong>c) sales A\/c <br>d) cash A\/c<\/p>\n\n\n\n<p><strong>7) Wages paid for installation of Machinery should be debited to _____.<\/strong><br>a) wages A\/c <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">b) machinery A\/c <br><\/mark><\/strong>c) cash A\/c <br>d) Installation A\/c<\/p>\n\n\n\n<p><strong>8) The commission paid to the agent should be debited to _____.<\/strong><br>a) drawing A\/c <br>b) cash A\/c <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">c) commission A\/c <br><\/mark><\/strong>d) Agent A\/c<\/p>\n\n\n\n<p><strong>9) Loan taken from Dena Bank should be credited to _____.<\/strong><br>a) Capital A\/c <br>b) Dena Bank A\/c <br>c) Cash A\/c <br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">d) Dena Bank Loan A\/c<\/mark><\/strong><\/p>\n\n\n\n<p><strong>10) Purchase of animals for cash should be debited to _____.<\/strong><br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">a) Live stock A\/c <br><\/mark><\/strong>b) Goods A\/c <br>c) Cash A\/c <br>d) Bank A\/c<\/p>\n\n\n\n<p class=\"has-text-align-center\"><strong><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-notes-maharashtra-board\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-notes-maharashtra-board\/\" target=\"_blank\" rel=\"noreferrer noopener\">Solution of other subjects<\/a><br><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-textbook-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-textbook-solutions\/\">Solution of all Chapters of BK<br><\/a><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-1st-chapter-exercise\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-1st-chapter-exercise\/\">1<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-2-practical-problems\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-2-practical-problems\/\">2<\/a> &#8211; 4 &#8211; 5 &#8211; 6 &#8211; 7 &#8211; 8 &#8211; 9 &#8211; 10<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q4_State_whether_the_following_statements_are_true_or_false_with_reasons\"><\/span>Q.4 State whether the following statements are true or false with reasons<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>1) Narration is not required for each and every entry.<br>Answer:<\/strong> False<br><strong>Reason:<\/strong> Narration is nothing but a brief explanation of an entry\/transaction, and based on that one can pass a journal entry. Therefore, the narration is required for each and every entry.<\/p>\n\n\n\n<p><strong>2) A journal voucher is must for all transactions recorded in the Journal.<\/strong><br><strong>Answer:<\/strong> True<br><strong>Reason:<\/strong> Journal voucher is an original voucher on the basis of which the transactions should be journalized in a journal book, so we can say that a journal voucher is must for all transactions recorded in the journal.<\/p>\n\n\n\n<p><strong>3) Cash discount allowed should be debited to discount A\/c.<\/strong><br><strong>Answer:<\/strong> True<br><strong>Reason:<\/strong> Cash discount allowed is an expense for the business and every expense should be debited. Therefore cash discount allowed should be debited to Discount A\/c.<\/p>\n\n\n\n<p><strong>4) Journal is a book of prime entry.<\/strong><br><strong>Answer:<\/strong> True<br><strong>Reason:<\/strong> For every financial transaction, initially, an entry is recorded in the book is known as a \u2018Journal&#8217;. Therefore, we can say that journal is a book of prime entry<\/p>\n\n\n\n<p><strong>5) Trade discount is recorded in the books of accounts.<\/strong><br><strong>Answer:<\/strong> False<br><strong>Reason:<\/strong> Trade discount is allowed on catalog price or on the price list price. For increasing the sale or to give sufficient margin to retailers, generally trade discount is allowed. Therefore, the trade discount is not to be recorded in the books of accounts.<\/p>\n\n\n\n<p><strong>6) Goods lost by theft is debited to goods A\/c.<\/strong><br><strong>Answer:<\/strong> False<br><strong>Reason:<\/strong> As per the Real A\/c rule, debit what comes in and credit what goes out. Here, goods lost by theft means goods goes out. Therefore, goods lost by theft is to be credited to Goods A\/c.<\/p>\n\n\n\n<p><strong>7) If rent is paid to landlord, landlord&#8217;s A\/c should be debited.<\/strong><br><strong>Answer:<\/strong> False<br><strong>Reason:<\/strong> Rent paid is an expense and Rent paid A\/c should be debited, not Landlord A\/c be debited.<\/p>\n\n\n\n<p><strong>8) Book Keeping records monetary and non-monetory transactions.<\/strong><br><strong>Answer:<\/strong> False<br><strong>Reason:<\/strong> In the books of accounts, only financial transactions are to be recorded. This means non-monetary transactions are not recorded.<\/p>\n\n\n\n<p><strong>9) Drawings made by the proprietor increases his capital.<\/strong><br><strong>Answer:<\/strong> False<br><strong>Reason:<\/strong> Drawings mean anything withdrawn by the proprietor in the form of cash, goods, assets, or services from the business for personal use. And it decreases the capital of proprietors.<\/p>\n\n\n\n<p><strong>10) GST paid on purchase of goods Input tax A\/c should be debited.<\/strong><br><strong>Answer:<\/strong> True<br><strong>Reason:<\/strong> When goods are purchased, any tax payable on it is an expense for the business. Therefore, we can say that when GST is paid. Input Tax should be debited.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q5_Fill_in_the_blanks\"><\/span>Q.5 Fill in the blanks<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>1) The first book of original entry is the _____.<br>Answer:<\/strong> Journal<\/p>\n\n\n\n<p><strong>2) The process of recording transaction into journal is called _____.<br>Answer:<\/strong> Journalising<\/p>\n\n\n\n<p><strong>3) An explanation of the transaction recorded in the journal _____.<br>Answer:<\/strong> Narration<\/p>\n\n\n\n<p><strong>4) _____ discount is not recorded in the books of accounts.<br>Answer:<\/strong> Trade<\/p>\n\n\n\n<p><strong>5) _____ is concession allowed for bulk purchase of goods or for immediate payment.<br>Answer:<\/strong> Cash Discount<\/p>\n\n\n\n<p><strong>6) Every Journal Entry requires _____.<br>Answer:<\/strong> Narration<\/p>\n\n\n\n<p><strong>7) _____ discount is always recorded in the books of accounts.<br>Answer:<\/strong> Cash<\/p>\n\n\n\n<p><strong>8) _____ is the document on the basis of which the entry is recorded in journal.<br>Answer:<\/strong> Voucher<\/p>\n\n\n\n<p><strong>9) There are _____ parties to a cheque.<br>Answer:<\/strong> Three<\/p>\n\n\n\n<p><strong>10) The _____ cheque is more safe than other cheques as it cannot be encashed on the counter of the bank.<br>Answer:<\/strong> Crossed<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q6\"><\/span>Q.6<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>1) Prepare specimen of Tax Invoice<\/strong><\/p>\n\n\n\n<p><strong>Answer:<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"650\" data-src=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/11\/Specimen-of-Tax-Invoic-1024x650.png\" alt=\"Specimen of Tax Invoice\" class=\"wp-image-26400 lazyload\" title=\"\" data-srcset=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/11\/Specimen-of-Tax-Invoic-1024x650.png 1024w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/11\/Specimen-of-Tax-Invoic-300x191.png 300w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/11\/Specimen-of-Tax-Invoic-768x488.png 768w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/11\/Specimen-of-Tax-Invoic-1536x976.png 1536w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/11\/Specimen-of-Tax-Invoic.png 1716w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/650;\" \/><\/figure>\n\n\n\n<p><strong>2) Prepare specimen of Receipt<\/strong><\/p>\n\n\n\n<p><strong>Answer:<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"625\" data-src=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/11\/Specimen-of-Receipt-1024x625.png\" alt=\"Specimen of Receipt\" class=\"wp-image-26403 lazyload\" title=\"\" data-srcset=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/11\/Specimen-of-Receipt-1024x625.png 1024w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/11\/Specimen-of-Receipt-300x183.png 300w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/11\/Specimen-of-Receipt-768x469.png 768w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/11\/Specimen-of-Receipt-1536x938.png 1536w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/11\/Specimen-of-Receipt.png 1706w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/625;\" \/><\/figure>\n\n\n\n<p><strong>3) Prepare specimen of Crossed cheque<\/strong><\/p>\n\n\n\n<p><strong>Answer:<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"529\" data-src=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/11\/Specimen-of-Crossed-cheque-1024x529.png\" alt=\"Specimen of Crossed cheque\" class=\"wp-image-26405 lazyload\" title=\"\" data-srcset=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/11\/Specimen-of-Crossed-cheque-1024x529.png 1024w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/11\/Specimen-of-Crossed-cheque-300x155.png 300w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/11\/Specimen-of-Crossed-cheque-768x397.png 768w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/11\/Specimen-of-Crossed-cheque-1536x794.png 1536w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/11\/Specimen-of-Crossed-cheque.png 1714w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/529;\" \/><\/figure>\n\n\n\n<p><strong>4) Prepare specimen of Cash voucher.<\/strong><\/p>\n\n\n\n<p><strong>Answer:<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"521\" data-src=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/11\/Specimen-of-Cash-voucher-1024x521.png\" alt=\"Specimen of Cash voucher\" class=\"wp-image-26408 lazyload\" title=\"\" data-srcset=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/11\/Specimen-of-Cash-voucher-1024x521.png 1024w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/11\/Specimen-of-Cash-voucher-300x153.png 300w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/11\/Specimen-of-Cash-voucher-768x391.png 768w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/11\/Specimen-of-Cash-voucher-1536x782.png 1536w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/11\/Specimen-of-Cash-voucher.png 1706w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/521;\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q7_Correct_the_following_statements_and_rewrite_the_statements\"><\/span>Q.7 Correct the following statements and rewrite the statements<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>1) All business transactions are recorded in the Journal.<br><strong>Answer:<\/strong> Only monetary transactions are recorded in the Journal.<\/p>\n\n\n\n<p>2) Cash discount is not recorded in the books of accounts.<br><strong>Answer:<\/strong> Cash discount is recorded in the books of accounts<\/p>\n\n\n\n<p>3) Journal is a book of Secondary entry. <br><strong>Answer:<\/strong> Journal is a book of Prime entry.<\/p>\n\n\n\n<p>4) GST is imposed by the Government of India from 1st July 2018.<br><strong>Answer:<\/strong> GST is imposed by the Government of India from 1st July 2017.<\/p>\n\n\n\n<p>5) Machinery purchased by the Proprietor decreases his capital.<br><strong>Answer:<\/strong> Machinery purchased by the Proprietor increases his capital.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q8_Do_you_agree_or_disagree_with_following_statements\"><\/span>Q.8 Do you agree or disagree with following statements?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>1) Narration is required for every entry.<br><strong>Answer:<\/strong> Agree<\/p>\n\n\n\n<p>2) GST stands for Goods and Sales Tax.<br><strong>Answer:<\/strong> Disagree<\/p>\n\n\n\n<p>3) Trade discount is not recorded in the books of accounts.<br><strong>Answer:<\/strong> Agree<\/p>\n\n\n\n<p>4) Wages paid for installation of Machinery is debited to Wages Account.<br><strong>Answer:<\/strong> Disagree<\/p>\n\n\n\n<p>5) The process of entering or recording the transactions in a Journal is called as Journalising.<br><strong>Answer:<\/strong> Agree<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q9_Calculate_the_following\"><\/span>Q.9 Calculate the following<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>1) Purchased Motor Car from Tata &amp; Company worth \u20b92,00,000 at 18% GST. Find out GST amount.<\/p>\n\n\n\n<p>2) Paid Transport charges \u20b910,000 @ 5% GST. Calculate CGST &amp; SGST.<\/p>\n\n\n\n<p>3) Bought goods from Ranjan \u20b910,000 @ 5% GST and 10% cash discount. Calculate cash discount.<\/p>\n\n\n\n<p>4) Received cheque of \u20b990,000 from Kiran in full settlement of his account \u20b91,00,000\/-. Calculate discount rate.<\/p>\n\n\n\n<p>5) Sold goods of \u20b91,00,000 at 10%. Trade Discount and 10% cash discount to Ram and received 50% amount by cheque. Calculate the amount of cheque received.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q10_Complete_the_following_table\"><\/span>Q.10 Complete the following table.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"490\" data-src=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/11\/11th-BK-Chapter-3-Practical-Problems-Complete-the-following-table-1024x490.png\" alt=\"\" class=\"wp-image-26414 lazyload\" title=\"\" data-srcset=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/11\/11th-BK-Chapter-3-Practical-Problems-Complete-the-following-table-1024x490.png 1024w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/11\/11th-BK-Chapter-3-Practical-Problems-Complete-the-following-table-300x143.png 300w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/11\/11th-BK-Chapter-3-Practical-Problems-Complete-the-following-table-768x367.png 768w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/11\/11th-BK-Chapter-3-Practical-Problems-Complete-the-following-table-1536x735.png 1536w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/11\/11th-BK-Chapter-3-Practical-Problems-Complete-the-following-table.png 1702w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/490;\" \/><\/figure>\n\n\n\n<p><strong>Solution:<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Sr. No.<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Transactions<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Debit<br>Amount (Rs)<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Credit<br>Amount (Rs)<\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">1<\/td><td class=\"has-text-align-center\" data-align=\"center\">Paid Income Tax Rs 5,000 by cheque<\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Income Tax A\/c<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">Bank A\/c<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">2<\/td><td class=\"has-text-align-center\" data-align=\"center\">Received from Sonali Rs 20,000 by RTGS.<\/td><td class=\"has-text-align-center\" data-align=\"center\">Bank A\/c<\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Sonali A\/c<\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">3<\/td><td class=\"has-text-align-center\" data-align=\"center\">Sanjay became insolvent and not received Rs 500<\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Bad debts A\/c<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">Sanjay A\/c<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">4<\/td><td class=\"has-text-align-center\" data-align=\"center\">Purchased Horse for Rs 10,000<\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Live Stock A\/c<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">Cash A\/c<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">5<\/td><td class=\"has-text-align-center\" data-align=\"center\">Transferred from Fixed deposit A\/c of proprietor<br>to business Bank A\/c Rs 50,000<\/td><td class=\"has-text-align-center\" data-align=\"center\">Bank A\/c<\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Capital A\/c<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"11th_BK_Chapter_3_Practical_Problems-2\"><\/span><strong>11th BK Chapter 3 <\/strong><br><strong>Practical Problems<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong><strong>1) Journalise the following transactions in the books of Anand General Merchants.<\/strong><\/strong><\/p>\n\n\n\n<p>2019<br>April<br>1 Mr. Anand started business with cash Rs 60,000.<br>5 Purchased goods for cash Rs 30,000.<br>7 Sold goods of Rs 10,000 to Suresh.<br>10 Purchased Furniture from Mr. Govind on credit Rs 30,000.<br>15 Paid for Rent Rs 3000 and paid by debit card.<br>21 Purchased goods from Urmila on credit Rs 70,000.<br>27 Paid for Transport Rs 1,000 to United Transport.<br>30 Paid to Urmila Rs 20,000 on behalf of Sharmila.<\/p>\n\n\n\n<p><strong>Solution:<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"1018\" data-src=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/12\/11th-BK-Chapter-3-Practical-Problems-Number-1-1024x1018.webp\" alt=\"11th BK Chapter 3 Practical Problems  Number 1\" class=\"wp-image-26712 lazyload\" title=\"\" data-srcset=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/12\/11th-BK-Chapter-3-Practical-Problems-Number-1-1024x1018.webp 1024w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/12\/11th-BK-Chapter-3-Practical-Problems-Number-1-300x298.webp 300w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/12\/11th-BK-Chapter-3-Practical-Problems-Number-1-150x150.webp 150w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/12\/11th-BK-Chapter-3-Practical-Problems-Number-1-768x763.webp 768w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/12\/11th-BK-Chapter-3-Practical-Problems-Number-1.webp 1328w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/1018;\" \/><\/figure>\n\n\n\n<p><strong><strong><strong>2. Journalise the following transactions in the books of Gajanan<\/strong><\/strong>.<\/strong><\/p>\n\n\n\n<p>2019<br>May<br>3 Purchased goods for Rs 90,000 and amount paid by Bank directly<br>7 Sold goods to Satish on credit Rs 30,000.<br>9 Paid for Postage Rs 10,000<br>12 Paid for Wages Rs 15,000.<br>15 Received cheque of Rs 30,000 from Sati.<br>21 Received Dividend Rs 5000.<br>25 Purchased Laptop of Rs 40,000 and paid by cheque.<br>28 Deposited cash Rs 10,000 into State Bank of India.<br>31 Purchased goods for Rs 40,000 and paid by RTGS<\/p>\n\n\n\n<p><strong>Solution:<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"955\" height=\"1024\" data-src=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/12\/11th-BK-Chapter-3-Practical-Problem-2-955x1024.webp\" alt=\"11th BK Chapter 3 Practical Problem number 2\" class=\"wp-image-26715 lazyload\" title=\"\" data-srcset=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/12\/11th-BK-Chapter-3-Practical-Problem-2-955x1024.webp 955w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/12\/11th-BK-Chapter-3-Practical-Problem-2-280x300.webp 280w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/12\/11th-BK-Chapter-3-Practical-Problem-2-768x824.webp 768w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/12\/11th-BK-Chapter-3-Practical-Problem-2.webp 1298w\" data-sizes=\"(max-width: 955px) 100vw, 955px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 955px; --smush-placeholder-aspect-ratio: 955\/1024;\" \/><\/figure>\n\n\n\n<p><strong>3. Journalise the following transactions in the books of Ashok General Stores.<\/strong><\/p>\n\n\n\n<p>2019<br>May<br>1 Received Rs 5,000 from Ram on behalf of Bharat.<br>4 Purchased Goods for cash Rs 55,000.<br>8 Paid for Salary Rs 8,000.<br>12 Purchased goods from Ganesh Rs 30,000 on credit.<br>17 Sold goods to Mrs. Neha Rs 60,000 on credit.<br>20 Purchased Machinery of Rs 80,000 @ 12% GST and amount paid by cheque.<br>25 Paid to SG &amp; Sons by cheque Rs 30,000.<br>28 Received Commission Rs 10,000 from Ganesh.<br>30 Paid Rent Rs 5000.<br>31 Purchased Shares of Atul Company Ltd. for Rs 10,000 through Demat account.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"801\" height=\"1024\" data-src=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/12\/11th-BK-Chapter-3-Practical-Problem-number-3-801x1024.webp\" alt=\"11th BK Chapter 3 Practical Problem number 3\" class=\"wp-image-26718 lazyload\" title=\"\" data-srcset=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/12\/11th-BK-Chapter-3-Practical-Problem-number-3-801x1024.webp 801w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/12\/11th-BK-Chapter-3-Practical-Problem-number-3-235x300.webp 235w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/12\/11th-BK-Chapter-3-Practical-Problem-number-3-768x982.webp 768w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/12\/11th-BK-Chapter-3-Practical-Problem-number-3.webp 1046w\" data-sizes=\"(max-width: 801px) 100vw, 801px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 801px; --smush-placeholder-aspect-ratio: 801\/1024;\" \/><\/figure>\n\n\n\n<p><strong>4. Journalise the following transactions in the books of Sanjay General Stores.<\/strong><\/p>\n\n\n\n<p>2019<br>May<br>1 Started business with cash Rs 50,000, Bank Rs 1,00,000, Goods worth Rs 50,000.<br>5 Purchased goods from Mohan on credit Rs 80,000 at 10% Trade Discount.<br>9 Sold goods to Urmila Rs 30,000 at 5% Trade Discount.<br>12 Paid in to Dena Bank Rs 40,000.<br>15 Goods worth Rs 5,000 distributed as free sample.<br>22 Paid for Commission Rs 5,000 to Anand.<br>24 Received Rs 28,000 from Urmila in full settlement of her account by Debit Card.<br>29 Paid for Advertisement Rs 9,000\/<br>30 Purchased Laptop for Rs 20,000 @28% GST and amount paid by NEFT.<\/p>\n\n\n\n<p><strong>Q. 5 Journalise the following transactions in the books of Kunal Stores.<\/strong><\/p>\n\n\n\n<p>2018<br>August<br>1 &#8211; Purchased goods of \u20b9 90,000 at 10% Trade Discount and 10% Cash Discount from Rakesh and 1\/3rd amount paid by cheque.<br>5 &#8211; Opened current account in State Bank of India by depositing \u20b9 60,000.<br>8 &#8211; Cash purchases \u20b9 85,000.<br>10 &#8211; Goods sold on credit to Tushar \u20b9 20,000 @ 10% Trade Discount.<br>12 &#8211; Paid Salary \u20b9 4,000.<br>16 &#8211; Tushar returned goods of \u20b9 250.<br>17 &#8211; Goods taken by Kunal for his private use \u20b9 2,000.<br>20 &#8211; Purchased Laptop of \u20b9 40,000 from Joshi Electronics @18% GST and paid by cheque.<br>22 &#8211; Rent paid by cheque \u20b9 15,000.<br>25 &#8211; Purchased Motor car worth \u20b9 2,00,000 for cash @ 18% GST and paid by Bank.<br>26 &#8211; Goods distributed as free sample \u20b9 4,000. 28 Purchased goods from Amit of \u20b960,000 on credit.<br>30 &#8211; Paid by ECS cash to Amit \u20b9 58,500, who allowed us discount \u20b91,500.<br>30 &#8211; Sold goods \u20b9 5,000 at a loss of \u20b9 1,000<br>31 &#8211; Sold goods for \u20b9 20,000.<\/p>\n\n\n\n<p class=\"has-text-align-center\"><strong><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-notes-maharashtra-board\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-notes-maharashtra-board\/\" target=\"_blank\" rel=\"noreferrer noopener\">Solution of other subjects<\/a><br><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-textbook-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-textbook-solutions\/\">Solution of all Chapters of BK<br><\/a><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-1st-chapter-exercise\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-1st-chapter-exercise\/\">1<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-2-practical-problems\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-2-practical-problems\/\">2<\/a> &#8211; 4 &#8211; 5 &#8211; 6 &#8211; 7 &#8211; 8 &#8211; 9 &#8211; 10<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center\"><span class=\"ez-toc-section\" id=\"11th_BK_Textbook_Solutions\"><\/span>11th BK Textbook Solutions<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Chapter Name <\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-1st-chapter-exercise\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-1st-chapter-exercise\/\">1) Introduction to Book-Keeping and Accountancy<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-2-practical-problems\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-bk-chapter-2-practical-problems\/\">2) Meaning and Fundamentals of Double Entry Book-Keeping<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">4) Ledger<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">5) Subsidiary Books<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">6) Bank Reconciliation Statement<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">7) Depreciation<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">8) Rectification of Errors<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">9) Final Accounts of a Proprietary Concern<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">10) Single Entry System<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center\"><span class=\"ez-toc-section\" id=\"Check_out_other_posts_related_to_the_11th_Commerce\"><\/span>Check out other posts related to the 11th Commerce<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-notes-maharashtra-board\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-notes-maharashtra-board\/\">Textbook Solutions of 11th Commerce (All Subjects)<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-books-pdf\/\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-books-pdf\/\"> Free PDF of 11th Commerce Textbooks <\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-contrast-color has-text-color\"><span class=\"ez-toc-section\" id=\"Online_lectures_of_Class_12_Commerce\"><\/span>Online lectures of Class 12 Commerce<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\ud83d\udd17 Share our videos and channel with your friends, and help us grow this channel.<br>Learn the Chapters of Accounts from our playlist.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/rb.gy\/c9pmbq\" data-type=\"link\" data-id=\"https:\/\/rb.gy\/c9pmbq\" target=\"_blank\" rel=\"noopener\">Issue of Shares<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/rb.gy\/3f7zhl\" data-type=\"link\" data-id=\"https:\/\/rb.gy\/3f7zhl\" target=\"_blank\" rel=\"noopener\">Bills of Exchange<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/rb.gy\/v5flhj\" target=\"_blank\" rel=\"noopener\">Dissolution of Partnership Firm<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/rb.gy\/jpjgd8\" data-type=\"link\" data-id=\"https:\/\/rb.gy\/jpjgd8\" target=\"_blank\" rel=\"noopener\">NPO<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/rb.gy\/nhy2xy\" data-type=\"link\" data-id=\"https:\/\/rb.gy\/nhy2xy\" target=\"_blank\" rel=\"noopener\">Analysis of Financial Statement<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/rb.gy\/nhy2xy\" data-type=\"link\" data-id=\"https:\/\/rb.gy\/nhy2xy\" target=\"_blank\" rel=\"noopener\">Admission of Partner<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.youtube.com\/playlist?list=PLGiOLU46prNe6tQIJakepd3uGvatQyBUe\" data-type=\"link\" data-id=\"https:\/\/www.youtube.com\/playlist?list=PLGiOLU46prNe6tQIJakepd3uGvatQyBUe\" target=\"_blank\" rel=\"noopener\">Information Technology Lectures.<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":36035,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[5],"tags":[5446],"class_list":["post-25429","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hsc-maharashtra-board","tag-11th-bk-chapter-3-practical-problems"],"_links":{"self":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/25429","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/comments?post=25429"}],"version-history":[{"count":28,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/25429\/revisions"}],"predecessor-version":[{"id":40951,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/25429\/revisions\/40951"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/media\/36035"}],"wp:attachment":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/media?parent=25429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/categories?post=25429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/tags?post=25429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}