Question 14 of 28
Q.(a) Enter the following transactions in a single column cash book of Mr. Sundaresan for May, 2017. May 1 Cash in hand ₹ 40,000 5 Cash received from Swathi ₹ 4,000 7 Paid wages in cash ₹ 2,000 10 Purchased goods from Sasikala for cash ₹ 6,000 15 Sold goods for cash ₹ 9,000 18 Purchased computer ₹ 15,000 22 Cash paid to Sabapathi ₹ 5,000 28 Paid Salary ₹ 2,500 30 Interest received ₹ 500
(OR)
(b) Classify the following into personal, real and nominal accounts.
(i) Bank
(ii) Carriage outward
(iii) Purchases
(iv) Harish
(v) Prepaid expenses
(vi) Furniture
(vii) Goodwill
(viii) Sales
(ix) Interest received
(x) Capital
Puducherry TnboardTamil Nadu HSC First Year (DGE) Commerce Board 2022Subjective· 5mImportance★★★★★
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Start your 14-day free trial to unlock the full solution →(a) Mr. Sundaresan's single column (cash) book closes at ₹23,000; (b) classify the ten items into personal, real and nominal accounts.
(a) Single Column Cash Book of Mr. Sundaresan (May 2017)
Only cash transactions are entered; the computer purchase and payments to Sasikala/Sabapathi are assumed to be in cash.
| Date | Receipts (Dr) | ₹ | Date | Payments (Cr) | ₹ |
|---|---|---|---|---|---|
| May 1 | To Balance b/d | 40,000 | May 7 | By Wages A/c | 2,000 |
| May 5 | To Swathi A/c | 4,000 | May 10 | By Purchases A/c | 6,000 |
| May 15 | To Sales A/c | 9,000 | May 18 | By Computer A/c | 15,000 |
| May 30 | To Interest received A/c | 500 | May 22 | By Sabapathi A/c | 5,000 |
| May 28 | By Salary A/c | 2,500 | |||
| May 31 | By Balance c/d | 23,000 | |||
| Total | 53,500 | Total | 53,500 |
Working: Total receipts = 40,000 + 4,000 + 9,000 + 500 = ₹53,500. Total payments = 2,000 + 6,000 + 15,000 + 5,000 + 2,500 = ₹30,500. Closing balance = 53,500 − 30,500 = ₹23,000.
(b) Classification of accounts
| # | Account | Classification | Reason |
|---|---|---|---|
| i | Bank | Personal (artificial/representative) | Represents a person/institution |
| ii | Carriage outward | Nominal | Expense |
| iii | Purchases | Nominal | Expense (goods bought) |
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