Class 11 Journal Part 5 |TS Grewal Journal Entries #class11 #accounts #journal #accountancy

💡 This is Part 5 of our Class 11 Accountancy Journal series.

In this video, we solve Illustrations 8 and 9 from the T.S. Grewal Book. These illustrations include a variety of transactions involving trade discount, cash discount, rebate, bad debts, and recovery of old debts.

Each journal entry is explained in detail and recorded step-by-step in the standard journal format to help you understand concepts better.
📘 Illustration 8 – Pass the journal entries for following Transactions of Akash & Co.
📍Journal of Akash and Co.

📌May 3 – Sold goods to Yogesh of List Price ₹50,000 less 10% Trade Discount
📌May 7 – Sold goods to Raman against cash ₹5,000
📌May 7 – Allowed Cash Discount @ 2%
May 10 – Allowed Rebate to Yogesh for accepting damaged goods ₹2,500
📌May 20 – Received cash from Yogesh on account ₹34,300
📌May 20 – Allowed him discount ₹700
📌May 20 – Bought goods from Kabir of List Price ₹40,000 less 20% Trade Discount
📌May 22 – Goods returned to Kabir of List Price ₹4,000, not being as per specifications
📌May 22 – Received Rebate from Kabir for accepting damaged goods ₹3,000
📌May 25 – Paid to Kabir on account ₹9,800
📌May 25 – Received cash discount ₹200
📌May 30 – Amount due from Yogesh was not recoverable. It was to be written off
📘 Illustration 9 – Journalise the following Transactions:

(i) ₹5,000 due from Ramesh are irrecoverable.
(ii) Sohan is declared insolvent. Received from his Official Receiver 60 paise in a rupee on a debt of ₹10,000.
(iii) Received cash for a bad debt written off last year ₹700.
📍Related terms
Journal entries
Ts Grewal accounts
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Journal in Accountancy
Class 11 Accountancy
Journal Entries Class 11
Basic Journal Entries
Journal Format Class 11
Rules of Debit and Credit
How to make Journal entries
Accountancy Chapter 1 Class 11
Class 11 Accounts
CBSE Accountancy
Introduction to Journal
Journal Entries with examples
Class 11 Commerce
Accountancy for Beginners
Journal entries explained
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Видео Class 11 Journal Part 5 |TS Grewal Journal Entries #class11 #accounts #journal #accountancy канала Guru Dhawna Class 11