Question 20 of 22
Q.
Prepare Anand's account from the following details.
| 2017 | ₹ | ||
|---|---|---|---|
| July | 1 | Credit balance of Anand's A/c | 4,000 |
| 15 | Amount paid to Anand | 2,000 | |
| 18 | Goods purchased from Anand on credit | 8,000 | |
| 20 | Paid to Anand | 3,960 | |
| Discount allowed by him | 40 | ||
| 25 | Goods purchased from Anand | 5,000 |
Tamil Nadu DgeTamil Nadu HSC First Year (DGE) Commerce Board 2025Subjective· 3mImportance★★★★★
91% · 20/22 Questions
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Start your 14-day free trial to unlock the full solution →Anand is a supplier; his account is credited with purchases and debited with payments/discount, leaving a credit balance of ₹11,000.
Understanding the transactions
- July 1 — Anand's account has a credit balance ₹4,000 (we already owe him): posted as By Balance b/d.
- July 15 — paid Anand ₹2,000 (reduces what we owe): To Cash/Bank.
- July 18 — goods purchased from Anand on credit ₹8,000 (increases what we owe): By Purchases.
- July 20 — paid ₹3,960 and he allowed discount ₹40 (discount received): both debited to Anand.
- July 25 — goods purchased from Anand ₹5,000 (increases what we owe): By Purchases.
Anand's Account
| Dr | ₹ | Cr | ₹ |
|---|---|---|---|
| July 15 To Cash/Bank A/c | 2,000 | July 1 By Balance b/d | 4,000 |
| July 20 To Cash/Bank A/c | 3,960 | July 18 By Purchases A/c | 8,000 |
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