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Ledger is a book which contains various accounts. In simple words, ledger is a set of accounts. It includes all accounts of the business enterprise whether Real, Nominal or Personal. Ledger may be kept in any of the following two forms:
1. Bound Ledger; and
2. Loose Leaf Ledger.
It is common to keep the ledger in the form of loose-leaf cards these days instead of keeping them in bounded form. This helps in posting transactions particularly when mechanised system of accounting is used. Interestingly, nowadays, mechanised system of accounting is preferred over the manual system of accounting.
The term ‘Posting’ means transferring the debit and credit items from the Journal to their respective accounts in the ledger. It is important to note that the exact names of accounts used in the Journal should be carried to the ledger. For example: If in the Journal, Salary Account has been debited, it would not be correct to debit the Outstanding Salary Account in the Ledger. Therefore, the correct course would be to use the same account in both the Journal and Ledger. Ledger posting may be done at any time. However, it must be completed before the annual financial statements are prepared. It is advisable to keep the more active accounts posted upto date. The examples of such accounts are the cash account, personal accounts of various parties, etc. The Ledger posting may be made by the book-keeper from the Journal to the Ledger by any of the following methods:
1. He may take a particular side first. For example, he may take the debits first and make the complete postings of all debits from Journal to the Ledger.
2. He may take a particular account first and post all debits and credits relating to that account appearing on one particular page of Journal. He may then take some other account and follow the same procedure.
3. He may complete posting of each journal entry before proceeding to the next entry. It is advisable to follow the last method. Further, one should post each debit and credit item as it appears in the Journal.
4. The Ledger Folio (L.F.) column in the Journal is used at the time when debits and credits are posted to the Ledger. The page number of the Ledger on which the posting has been done is mentioned in the L.F.
5. Column of the Journal. Similarly a folio column in the Ledger can also be kept where the page from which posting has been made from the
6. Journal. Thus, these are cross references in both the Journal and the Ledger. A proper index must be maintained in the Ledger giving the names of the accounts and the page number.
The following rules must be observed while posting transactions in the Ledger from the Journal:
1. Separate accounts should be opened in the Ledger for posting transactions relating to different accounts recorded in the Journal. For example, separate accounts may be opened for sales, purchases, sales returns, purchases returns, salaries, rent, cash, etc.
2. The concerned account which has been debited in the Journal should also be debited in the Ledger. However, a reference should be made of the other account which has been credited in the Journal. For example, for salaries paid, the salaries account should be debited in the Ledger, but reference should be given of the Cash Account which has been credited in the Journal.
3. The concerned account, which has been credited in the Journal; should also be credited in the Ledger, but reference should be given of the account, which has been debited in the Journal. For example, for salaries paid, Cash Account has been credited in the Journal. It will be credited in the Ledger also, but reference will be given of the Salaries Account in the Ledger. Thus, it may be concluded that while making posting in the Ledger, the concerned account which has been debited or credited in the Journal should also be debited or credited in the Ledger, but reference has to be given of the other account which has been credited or debited in the Journal, as the case may be. This will be clear with the following example: Suppose salaries of Rs. 10,000 have been paid in cash, the following entry will be passed in the Journal:
Salaries Account Dr. 10,000
To Cash Account 10,000
In the Ledger two accounts will be opened (i) Salaries Account, and (ii) Cash Account. Since Salaries Account has been debited in the Journal, it will also be debited in the Ledger. Similarly Cash Account has been credited in the Journal and, therefore, it will also be credited in the Ledger, but reference will be given of the other account involved. Thus, the accounts will appear as follows in the Ledger:
4. Use of the words “To” and “By”: It is customary to use words ‘To’ and ‘By’ while making posting in the Ledger. The word ‘To’ is used with the accounts which appear on the debit side of a Ledger Account. For example in the Salaries Account, instead of writing only “Cash” as shown above, the words “To Cash” will appear on the debit side of the account. Similarly, the word “By” is used with accounts which appear on the credit side of a Ledger Account. For example in the above case, the words “By Salaries A/c” will appear on the credit side of the Cash Account instead of only “Salaries A/c”. The words ‘To’ and ‘By’ do not have any specific meanings. Modern accountants are, therefore, ignoring the use of these words.
In business, there may be several transactions relating to one particular account. In Journal, these transactions appear on different pages in a chronological order while they appear in a classified form under that particular account in the Ledger. At the end of a period (say a month, a quarter or a year), the businessman will be interested in knowing the position of a particular account. This means, he should total the debits and credits of his account separately and find out the net balance. This technique of finding out the net balance of an account, after considering the totals of both debits and credits appearing in the account is known as ‘Balancing the Account’. The balance is put on the side of the account which is smaller and a reference is given that it has been carried forward or carried down (c/f or c/d) to the next period. On the other hand, in the next period a reference is given that the opening balance has been brought forward or brought down (b/f or b/d) from the Question.
2002
Jan.
1. Commenced business with Cash Rs.2,00,000.
2. Deposited into Axis Bank Rs. 1,75,000.
3. Purchased goods from Dilip for Rs. 40,000. Trade Discount 20%.
4. Gave a cheque to Dilip for Rs.16,800 and discount allowed by him Rs.200.
5. Goods bought from Nilesh for Cash Rs.14,000.
6. Accepted a bill at 2months for Rs.15,000 drawn by Dilip.
7. Bought goods from Suresh Rs.75,000.
8. Paid to Suresh a Cheque of Rs.58,800 after receiving discount of 2%.
9. Cash sales made to Jyoti Parshad Rs.8,000.
10. Sold goods to Mohinder for Rs.20,000.
11. Goods returned by Mohinder for Rs.1,500.
12. Received from Mohinder Rs.7,900 after allowing a discount of 1.25%.
13. Goods sold to Banerjee for Rs.50,000.
14. Deposited into Bank Rs.20,000.
15. Goods taken for personal use Rs.2,000.
16. Purchased furniture Rs.40,000 and Typewriter Rs.10,000 for office use. Payment for both the items is made by Cheque.
17. Sold goods to Anubhav Rs.30,000.
18. Goods returned by Anubhav Rs.5,000.
19. Received full payment from Banerjee by Cheque, sent it to Bank, Discount allowed 2%
20. Acceptance received from Anubhav at 30 days for the amount due from him.
21. Paid for stationery Rs.400 and for Postage Rs.200.
22. Rent of proprietor’s house paid by Cheque Rs.2,500.
Dr. Cash a/c cr.
| Date | Particulars | J.F | Rs. | Date | Particulars | J.F | Rs. |
| Jan 1st | To capital a/c | 2,00,000 | Jan 2nd | By bank a/c | 1,75,000 | ||
| Jan 21st | By bank a/c | 20,000 | |||||
| Jan 28th | By postage a/c | 200 | |||||
| Jan 28th | By stationary a/c | 400 | |||||
| Jan 31st | By balance c/d | 4,400 | |||||
| 2,00,000 | 2,00,000 | ||||||
| Feb 1st | To bal. b/d | 4,400 |
Dr. Capital a/c Cr.
| Date | Particulars | J.F | Rs. | Date | Particulars | J.F | Rs. |
| Jan 31st | To bal. c/d | 2,00,000 | Jan 1st | By cash a/c | 2,00,000 | ||
| 2,00,000 | 2,00,000 | ||||||
| Feb 1st | By bal. b/d | 2,00,000 |
Dr. Bank a/c Cr.
| Date | Particulars | J.F | Rs. | Date | Particulars | J.F | Rs. |
| Jan 1st | To Dilip a/c | 16,800 | Jan 2nd | By cash a/c | 1,75,000 | ||
| Jan 13th | To Suresh a/c | 58,800 | Jan 21st | By cash a/c | 20,000 | ||
| Jan 25th | To Furniture a/c | 40,000 | Jan 27th | By Banerjee a/c | 49,000 | ||
| Jan 25th | To typewriter a/c | 10,000 | |||||
| Jan 31st | To drawings a/c | 2,500 | |||||
| Jan 31st | To bal. c/d | 1,15,900 | |||||
| 2,44,000 | 2,44,000 | ||||||
| Feb 1st | By Bal. b/d | 1,15,900 |
Dr. Purchase a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 31st | To bal. c/d | 1,21,000 | Jan 4th | By Dilip a/c | 32,000 | ||
| Jan 8th | By Nilesh a/c | 14,000 | |||||
| Jan 11th | By Suresh a/c | 75,000 | |||||
| 1,21,000 | 1,21,000 | ||||||
| Feb 1st | By bal. b/d | 1,21,000 |
Dr. Dilip a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 4th | To purchase a/c | 32,000 | Jan 6th | By bank a/c | 16,800 | ||
| Jan 10th | By Bills Payable a/c | 15,000 | |||||
| Jan 6th | By Discount Allowed a/c | 200 | |||||
| 32,000 | 32,000 |
Dr. Discount Allowed a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 6th | To Dilip a/c | 200 | Jan 18th | By Mohinder a/c | 250 | ||
| Jan 31st | To bal. a/c | 1,050 | Jan 18th | By Banerjee a/c | 1,000 | ||
| 1,250 | 1,250 | ||||||
| Feb 1st | By bal. b/d | 1,050 |
Dr. Nilesh a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 8th | To purchase a/c | 14,000 | Jan 31st | By bal. c/d | 14,000 | ||
| 14,000 | 14,000 | ||||||
| Feb 1st | To bal. b/d | 14,000 |
Dr. Bills Payable Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 10th | To Dilip a/c | 15,000 | Jan 31st | By bal. c/d | 15,000 | ||
| 15,000 | 15,000 | ||||||
| Feb 1st | To bal. b/d | 15,000 |
Dr. Suresh a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 11th | To purchase a/c | 75,000 | Jan 13th | By bank a/c | 58,800 | ||
| By discount received a/c | 1,500 | ||||||
| Jan 31st | By bal. c/d | 14,700 | |||||
| 75,000 | 75,000 |
Dr. Discount Received Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 13th | To Suresh a/c | 1,500 | Jan 31st | By bal. c/d | 1,500 | ||
| 1,500 | 1,500 | ||||||
| Feb 1st | To bal. b/d | 1,500 |
Dr. Jyoti a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 31st | To bal. c/d | 8,000 | Jan 15th | By Sales a/c | 8,000 | ||
| 8,000 | 8,000 | ||||||
| Feb 1st | By bal. b/d | 8000 |
Dr. Mohinder a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 10th | To sales a/c | 20,000 | Jan 17th | By sales return a/c | 15,000 | ||
| Jan 18th | By cash a/c | 7,900 | |||||
| By Discount allowed a/c | 250 | ||||||
| Jan 31st | By bal. c/d | 10,350 | |||||
| 20,000 | 20,000 | ||||||
| Feb 1st | To bal. b/d | 10,350 |
Dr. Sales a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 15th | To Jyoti a/c | 8,000 | Jan 31st | By bal. c/d | 1,08,000 | ||
| Jan 16th | To Mohinder a/c | 20,000 | |||||
| Jan 20th | To Banerjee a/c | 50,000 | |||||
| Jan 25th | To Abhinav a/c | 30,000 | |||||
| 1,08,000 | 1,08,000 | ||||||
| Feb 1st | To bal. b/d | 1,08,000 |
Dr. Sales Return a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 31st | To bal. c/d | 20,000 | Jan 17th | By Mohinder a/c | 15,000 | ||
| Jan 27th | By Abhinav a/c | 5,000 | |||||
| 20,000 | 20,000 | ||||||
| Feb 1st | By bal. b/d | 20,000 |
Dr. Banerjee a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 31st | To bal. c/d | 50,000 | Jan 20th | By sales a/c | 50,000 | ||
| 50,000 | 50,0000 | ||||||
| Feb 1st | By bal. b/d | 50,000 |
Dr. Drawings a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 31st | To bal. c/d | 4,500 | Jan 25th | By goods a/c | 2,000 | ||
| Jan 31st | By bank a/c | 2,500 | |||||
| 4,500 | 4,500 |
Dr. Goods a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 25th | By drawings a/c | 2,000 | Jan 31st | By bal. c/d | 2,000 | ||
| 2,000 | |||||||
| Feb 1st | To bal. c/d | 2,000 |
Dr. Furniture a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 31st | By bal. c/d | 40,000 | Jan 25th | By bank a/c | 40,000 | ||
| 40,000 | 40,000 | ||||||
| Feb 1st | By bal. b/d | 40,000 |
Dr. Typewriter a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 31st | To bal. c/d | 10,000 | Jan 25th | By bank a/c | 10,000 | ||
| 10,000 | 10,000 | ||||||
| Feb 1st | By bal. b/d | 10,000 |
Dr. Abhinav a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 27th | To sales return a/c | 5,000 | Jan 25th | By sales a/c | 25,000 | ||
| Jan 28th | To Bills Receivable a/c | 25,000 |
Dr. Bills Receivable a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 21st | To bal. c/d | 25,000 | Jan 25th | By Abhinav’s a/c | 25,000 | ||
| 25,000 | 25,000 | ||||||
| Feb 1st | By bal. b/d | 25,000 |
Dr. Stationary a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 31st | By bal. c/d | 400 | Jan 28th | By cash a/c | 400 | ||
| 400 | 400 | ||||||
| Feb 1st | By bal. b/d | 400 |
Dr. Postage a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 31st | To bal. c/d | 200 | Jan 28th | By cash a/c | 200 | ||
| 200 | 200 | ||||||
| Feb 1st | By bal. b/d | 200 |
2005
June 01: Ramnath started business with cash Rs.60,000; machinery Rs.80,000
And furniture Rs.15,000
June 02: Purchased goods for cash Rs.28,000
June 04: Sold goods to Ratnakar of the list price Rs.15,000 @10% Trade
discount
June 07: Ratnakar returned goods worth Rs.5,000
June 10: Received cash from Ratnakar Rs.8,850 in full settlement of his
account
June 12: Purchased goods from Surendra traders of Rs.10,000 less Trade
Discount 15%
June 15: Returned goods to Surendra traders worth Rs.2,000
June 18: Cleared the account of Surendra traders by paying cash under a
discount of 5%
June 18: Purchased goods from Nitin Rs.4,000 and Prakash Rs.2,000
June 19: Paid cash to Nitin Rs.1,580 and discount received Rs.20
June 20: Paid for insurance premium Rs.200
June 21: Paid for Ramnath life insurance premium Rs.825
June 22: Returned goods to Prakash Rs.400
June 24: Sold goods to the list price Rs.5,000 for cash @10% trade discount
And 2% cash discount
June 25: Paid to Prakash Rs.1,550 in full settlement of his account
June 30: Paid rent Rs.600 ,advertisement expenses Rs.400 and salaries Rs.1,200
LEDGER OF RAM NATH
Dr. Machinery a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| June 1 | To capital a/c | 30,000 | June 30 | By bal. c/d | 30,000 | ||
| 30,000 | 30,000 | ||||||
| 1 july | To bal. b/d | 30,000 |
Dr. Furniture a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| June 1 | To capital a/c | 15,000 | June 30 | By bal. c/d | 15,000 | ||
Dr. Capital a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| June 30 | To bal. c/d | 1,05,000 | June 1 | By cash a/c | 60,000 | ||
| June 1 | By Machinery a/c | 30,000 | |||||
| June 1 | By furniture a/c | 15,000 | |||||
| 1,05,000 | 1,05,000 |
Dr. Fire Insurance Premium a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| June 20 | To cash a/c | 200 | June 30 | By bal. c/d | 200 | ||
Dr. Drawings a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| June 21 | To cash a/c | 825 | June 30 | By bal. c/d | 825 | ||
Dr. Rent a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| June 30 | To cash a/c | 600 | June 30 | By bal. c/d | 600 | ||
Dr. Advertisement a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| June 30 | To cash a/c | 400 | June 30 | By bal. c/d | 400 | ||
Dr. Salary a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| June 30 | To cash a/c | 1,200 | June 30 | By bal. c/d | 1,200 | ||
Dr. Cash a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| June 1 | To capital a/c | 60,000 | |||||
| June 10 | To Ratnakar a/c | 8,850 | June 2 | By purchases a/c | 28,000 | ||
| June 24 | To sales a/c | 4,410 | June 12 | By Surendra Traders a/c | 6,460 | ||
| June 18 | By Nitin a/c | 1,580 | |||||
| June 20 | By Fire Insurance Premium a/c | 200 | |||||
| June 21 | By Drawings a/c | 825 | |||||
| June 30 | By Prakash a/c | 1,550 | |||||
| June 30 | By Salary a/c | 1,200 | |||||
| June 30 | By advertisement a/c | 400 | |||||
| By rent a/c | 600 | ||||||
| June 30 | By bal c/d | 32455 | |||||
| 73,260 | 73,260 | ||||||
Dr. Purchase a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| June 2 | To cash a/c | 28,000 | June 30 | By bal. c/d | 42,500 | ||
| June 18 | To Nitin a/c | 4,000 | |||||
| June 12 | To Surendra traders a/c | 8,500 | |||||
| June 22 | To Prakash a/c | 2,000 | |||||
| 42,500 | 42,500 | ||||||
Dr. Sales a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| June 31 | By bal. c/d | 18,000 | June 4 | By Ratnakar a/c | 13,500 | ||
| June 24 | By cash a/c | 4,410 | |||||
| June 24 | By Discount allowed a/c | 90 | |||||
| 18,000 | 18,000 |
Dr. Sales Return a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| June 7 | To Ratnakar a/c | 4,500 | June 31 | By bal. c/d | 4,500 |
Dr. Ratnakar a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| June 4 | To sales a/c | 13,500 | June 7 | By sales Return a/c | 4,500 | ||
| June 10 | By cash a/c | 8,850 | |||||
| June 10 | By discount a/c | 150 | |||||
| 13,500 | 13,500 |
Dr. Discount Allowed a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| June 4 | To sales a/c | 90 | June 30 | By bal. c/d | 240 | ||
| June 10 | To Ratnakar a/c | 150 | |||||
| 240 | 240 |
Dr. Surendra Trader a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| June 15 | To purchase return a/c | 1,700 | June 12 | By purchases a/c | 8,500 | ||
| June 18 | To cash a/c | 6,460 | |||||
| June 18 | To discount received a/c | 340 | |||||
| 8,500 | 8,500 |
Dr. Discount Received a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| June 30 | To bal. c/d | 410 | June 18 | By Surendra Traders a/c | 340 | ||
| June 25 | By Nitin a/c | 20 | |||||
| June 19 | By Prakash a/c | 50 | |||||
| 410 | 410 |
Dr. Purchase Return a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| June 30 | To bal. c/d | 2,100 | June 15 | By Surendra Traders a/c | 1,700 | ||
| June 22 | By Prakash a/c | 400 | |||||
| 2,100 | 2,100 |
Dr. Nitin a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| June 19 | To cash a/c | 1,580 | June 18 | By purchase a/c | 4,000 | ||
| June 19 | To discount received a/c | 20 | |||||
| May 30 | To bal. c/d | 2,400 | |||||
| 4,000 | 4,000 |
Dr. Prakash a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| June 22 | To purchase return a/c | 400 | June 18 | By purchase a/c | 2,000 | ||
| June 25 | To discount received a/c | 50 | |||||
| June 25 | To cash a/c | 1,550 | |||||
| 2,000 | 2,000 |
ASSETS: Cash Rs.14,200; at bank Rs.1,100; Stocks Rs.15,400; Furniture Rs,3,750 and Debtors
Rs.12,000(Amar Rs.4,600; Bimal Rs.5,800; Chandar Rs.1,600)
LIABILITIES: Creditors Rs.3,500(Shashi Rs.2,000; Ravi Rs.1,500); Loan from bank Rs.5,000
Following transaction took place during Jan, 2005:
Jan 2: supplied good to Amar RS.2,000
Jan 3: bought goods from Satish Chand for Rs.4,000 at a trade discount of 15% and cash discount of 25% paid 60% amount immediately
Jan 5: received cheque from Amar for RS.6,500(discount allowed Rs.100) cheque deposited into bank.
Jan 6: received a cheque from Bimal Rs5,600 in full settlement of his account and cheque deposited into bank immediately
Jan 13: cheque of Bimal dishonored
Jan 15: cash sales Rs.1,800 deposited into bank
Jan 16: old newspapers sold for RS.20
Jan 18: old furniture sold for Rs.800
Jan 21: purchased a typewriter for office use Rs.8,000
Jan 25: Chander became insolvent and 60paisa in a rupee could be received from his estate
Jan 27: purchased goods from Mukesh Khanna for Rs.1,600 and paid him by cheque
Jan 28: sold half of the above goods at a profit of 25% on cost to Dinesh Verma
Jan 31: paid rent Rs.500 and salary Rs1,800 by cheque.
Jan 31: paid for repairs to furniture Rs.400
Prepare ledgers for the following transaction.
Dr. Sales a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 31 | To bal. c/d | 4,800 | Jan 2 | By Amar a/c | 2,000 | ||
| Jan 15 | By bank a/c | 1,800 | |||||
| Jan 28 | By Dinesh a/c | 1,000 | |||||
| 4,800 | 4,800 |
Dr. Furniture a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 1 | To bal. b/d | 3,750 | Jan 1 | By cash a/c | 800 | ||
| Jan 31 | By bal c/d | 2,950 | |||||
| 3,750 | 3,750 |
Dr. Chander a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 1 | To bal. b/d | 1,600 | Jan 1 | By cash a/c | 960 | ||
| Jan 25 | By Bad-Debts a/c | 640 | |||||
| 1,600 | 1,600 | ||||||
Dr. Ravi a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 31 | To bal. c/d | 1,500 | Jan 1 | By bal. b/d | 1,500 | ||
Dr. Satish Chand a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 31 | To bal. c/d | 1,360 | Jan 1 | By bal. b/d | 1,360 | ||
Dr. Furniture a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 31 | To bal. c/d | 4,550 | Jan 1 | By bal. b/d | 3,750 | ||
| Jan 18 | By cash a/c | 800 | |||||
| 4,550 | 4,550 |
Dr. Cash a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 1 | To bal. b/d | 14,200 | Jan 3 | By purchase a/c | 1,989 | ||
| Jan | To furniture a/c | 800 | Jan 21 | By typewriter a/c | 8,000 | ||
| Jan 16 | To Miscllinous a/c | 20 | Jan 31 | By repairs a/c | 400 | ||
| Jan 25 | To Chander a/c | 960 | Jan 31 | By bal. c/d | 5,591 | ||
| 15,980 | 15,980 |
Dr. Typewriter a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 21 | To cash a/c | 8,000 | Jan 31 | By bal. c/d | 8,000 | ||
Dr. Bad-Debts a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 25 | To chander a/c | 640 | Jan 31 | By bal. c/d | 640 | ||
Dr. Dinesh a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 28 | To sales a/c | 1,000 | Jan 31 | By bal c/d | 1,000 | ||
Dr. Rent a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 31 | To bank a/c | 500 | Jan 31 | By bal. c/d | 500 | ||
Dr. Salary a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 31 | To bank a/c | 1,800 | Jan 31 | By bal. c/d | 1,800 | ||
Dr. Capital a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 31 | To bal. c/d | 38,150 | Jan 1 | By bal b/d | 38,150 | ||
Dr. Repair a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan | To cash a/c | 400 | Jan 31 | By bal. c/d | 400 | ||
Dr. Stock a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 1 | To bal. b/d | 15,000 | Jan 31 | By bal. c/d | 15,000 | ||
Dr. Bank Loan a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 1 | To bal. c/d | 5,000 | Jan 31 | By bal. b/d | 5,000 | ||
Dr. Shashi a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 31 | By bal. c/d | 2,000 | Jan 1 | By bal. b/d | 2,000 | ||
Dr. Amar a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 1 | To bal. b/d | 4,600 | Jan 5 | By bank a/c | 6,500 | ||
| Jan 2 | To sales a/c | 2,000 | Jan 5 | By discount allowed a/c | 100 | ||
| 6,600 | 6,600 |
Dr. Purchase a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 3 | To Satish Chand a/c | 1,360 | Jan 31 | By bal. c/d | 5,000 | ||
| Jan 3 | To cash a/c | 1,989 | |||||
| Jan 3 | To discount received a/c | 51 | |||||
| Jan 25 | To bank a/c | 1,600 | |||||
| 5,000 | 5,000 |
Dr. Discount Received a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 31 | To bal. c/d | 251 | Jan 3 | By purchases a/c | 51 | ||
| Jan 6 | By Bimal a/c | 200 | |||||
| 251 | 251 |
Dr. Bank a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 1 | By bal. b/d | 5,500 | |||||
| Jan 5 | To Amar | 6,500 | Jan 6 | By Bimal | 5,600 | ||
| Jan 6 | To Bimal | 5,600 | Jan 25 | By purchase a/c | 1,600 | ||
| Jan 15 | To sales a/c | 1,800 | Jan 31 | By rent a/c | 500 | ||
| Jan 31 | To bal. c/d | 1,100 | Jan 31 | By salary a/c | 1,800 | ||
| 15,000 | 15,000 |
Dr. Discount Allowed a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 5 | To Amar | 100 | Jan 31 | By bal. c/d | 300 | ||
| Jan 6 | To Bimal | 200 | |||||
| 300 | 300 |
Dr. Bimal a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| Jan 1 | To bal. b/d | 5,800 | Jan 6 | By bank a/c | 5,600 | ||
| Jan 13 | To bank a/c | 5,600 | Jan 6 | By discount allowed a/c | 200 | ||
| Jan 6 | To discount received a/c | 200 | Jan 31 | By bal. c/d | 5,800 | ||
| 11,600 | 11,600 |
1. Purchased goods for 10,000 from Sudhir which includes 40% cash purchases.
2. Sold goods for Rs.20,000 to Rahim, 70% on credit and balance in cash
3. Received cash from Vikas Rs.300 against bad debts previously written off in his account.
a. Salaries due to clerks Rs.2,400
b. Of the rent paid this year Rs.750 relates to next year
c. Provide interest on capital Rs,960
4. Charges depreciation on furniture Rs.375
5. Paid cash to Anand on behalf of Kamal Rs.5,000
6. Charge interest on drawings.
Dr. Purchase a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
|
|
To Sudhir a/c | 6,000 | 1 | By balance c/d | 10,000 | ||
|
|
To cash a/c | 4,000 | |||||
| 10,000 | 10,000 |
Dr. Sudhir a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| To bal. c/d | 6,000 | i. | By Purchase a/c | 6,000 | |||
| By bal. b/d | 6,000 |
Dr. Cash a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| ii | To sales a/c | 6,000 | i | By purchase a/c | 4,000 | ||
| iii | To Bad-debts recovered a/c | 300 | viii | By Kamal a/c | 5,000 | ||
| To bal. c/d | 2,700 | ||||||
| 9,000 | 9,000 | ||||||
| By bal. b/d | 2,700 |
Dr. Rahim a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| ii | To sales a/c | 14,000 | By bal. b/d | 14,000 | |||
| To bal. c/d | 14,000 |
Dr. sales a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| 1. | To balance c/d | 20,000 | ii | By cash a/c | 6,000 | ||
| By Rahim a/c | 14,000 | ||||||
| 20,000 | 20,000 |
Dr. Bad-Debts Recovered a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| To balance c/d | 300 | iii | By cash a/c | 300 | |||
| 300 | 300 |
Dr. Salaries a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| iv | To outstanding salaries a/c | 2,400 | By balance c/d | 2,400 | |||
| 2,400 | 2,400 |
Dr. Outstanding Salaries a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| To balance b/d | 2,400 | iv | By salaries a/c | 2,400 | |||
| 2,400 | 2,400 |
Dr. Prepaid Rent a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| v | To rent a/c | 750 | By balance c/d | 750 |
Dr. Rent a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| To balance c/d | 750 | V | By prepaid rent a/c | 750 |
Dr. Interest on Capital a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| vi | To capital a/c | 960 | By balance c/d | 960 |
Dr. Capital a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| To balance c/d | 960 | vi | By interest on capital a/c | 960 |
Dr. Depreciation a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| vii | To Furniture a/c | 375 | By balance c/d | 375 |
Dr. Furniture a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| To bal. b/d | 375 | vii | By depreciation a/c | 375 | |||
| By bal. b/d | 375 |
Dr. Drawings a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| ix | To Interest on Drawings a/c | 300 | By bal. c/d | 300 |
Dr. Interest on Drawings a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| ix | By Drawings a/c | 300 |
1. Purchased machinery for Rs.35,000 and paid freight Rs.1,500; carriage Rs.500 and installation charges Rs.3,000.
2. Purchased an old machinery for Rs.15,000 and spent Rs.2,000 on its repair and overhauling payment is made by cheque.
3. Paid Rs.800 on the repair of office computer
4. Bought cement for Rs.80,000 and timber for Rs.70,000 for construction of office building, Rs.30,000 also paid for wages in this connection.
5. Bought goods of list price Rs.10,000 less 10% trade discount. Also paid Rs.200 towards carriage charges.
Dr. Machinery a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| 1. | To cash a/c | 40,000 | By bal. c/d | 57,000 | |||
| 2. | To bank a/c | 17,000 | |||||
| 57,000 | 57,000 | ||||||
| To bal. b/d | 57,000 |
Dr. Cash a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| To bal. c/d | 2,30,000 | 1. | By machinery a/c | 40,000 | |||
| 3. | By repair a/c | 800 | |||||
| 4. | By building a/c | 1,80,000 | |||||
| 5. | By purchases a/c | 9,000 | |||||
| 5. | By carriages a/c | 200 | |||||
| 2,30,000 | 2,30,000 | ||||||
Dr. Bank a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| To bal. c/d | 17,000 | 2. | By machinery a/c | 17,000 |
Dr. Repair a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| 3. | To cash a/c | 800 | By balance c/d | 800 |
Dr. Building a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| 4. | To cash a/c | 1,80,000 | By bal. c/d | 1,80,000 | |||
| To bal. b/d | 1,80,000 |
Dr. Purchases a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| 5. | To cash a/c | 9,000 | By balance c/d | 9000 | |||
Dr. Carriages a/c Cr.
| Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
| 5. | To cash a/c | 200 | By balance c/d | 200 | |||
Mr. Ashok Ganguli had the following assets and liabilities as on 1st January 2001:
Cash Rs.13,800; Stock Rs.1,40,000; Sundry Debtors Rs.75,000;
Bills Receivable Rs.6,200; Furniture Rs.10,000; Goodwill Rs.25,000;
Sundry Creditors Rs.94,000; Bills Payable Rs.7,500; Bank Overdraft Rs.38,500 and Loan from Dinesh Rs.20,000.
Give the opening entry and post the same in the ledger.
Dr. Cash a/c Cr.
| Date | Particulars | jf | Amount | Date | Particulars | jf | Amount |
| To bal. b/d | 13,800 | By bal. c/d | 13,800 | ||||
| 13,800 | 13,800 |
Dr. Stock a/c Cr.
| Date | Particulars | Jf | Amount | Date | Particulars | jf | Amount |
| To bal. b/d | 1,40,000 | By bal. c/d | 13,800 | ||||
| 1,40,000 | 1,40,000 | ||||||
Dr. Sundry Debtors a/c Cr.
| Date | Particulars | Jf | Amount | Date | Particulars | jf | Amount |
| To bal. b/d | 75,000 | By bal c/d | 75,000 | ||||
| 75,000 | 75,000 | ||||||
Dr. Bills receivable a/c Cr.
| Date | Particulars | Jf | Amount | Date | Particulars | jf | Amount |
| To bal. b/d | 6,200 | By bal. c/d | 6,200 | ||||
| 6,200 | 6,200 | ||||||
Dr. Stock a/c Cr.
| Date | Particulars | Jf | Amount | Date | Particulars | jf | Amount |
| To bal. b/d | 10,000 | By bal. c/d | 10,000 | ||||
| 10,000 | 10,000 | ||||||
Dr. Goodwill a/c Cr.
| Date | Particulars | Jf | Amount | Date | Particulars | jf | Amount |
| To bal. b/d | 25,000 | By bal. c/d | 25,000 | ||||
| 25,000 | 25,000 | ||||||
Dr. Sundry creditors a/c Cr.
| Date | Particulars | Jf | Amount | Date | Particulars | jf | Amount |
| To bal. b/d | 94,000 | By bal. c/d | 94,000 | ||||
| 94,000 | 94,000 | ||||||
Dr. Bills payable a/c Cr.
| Date | Particulars | Jf | Amount | Date | Particulars | jf | Amount |
| To bal b/d | 7,500 | By bal. c/d | 7,500 | ||||
| 7,500 | 7,5,000 | ||||||
Dr. Bank overdraft a/c Cr.
| Date | Particulars | Jf | Amount | Date | Particulars | jf | Amount |
| To bal. b/d | 38,500 | By bal. c/d | 38,500 | ||||
| 38,500 | 38,500 | ||||||
Dr. Loan a/c Cr.
| Date | Particulars | Jf | Amount | Date | Particulars | jf | Amount |
| To bal. b/d | 20,000 | By bal. c/d | 20,000 | ||||
| 20,000 | 20,000 | ||||||
Mr. Ramu has the following transactions in the month of July.
Record them into the journal and show postings in the ledger and balance the accounts.
| July 1st | : | Ramu started business with a capital of 75,00,000 | |||||
| 1st | : | Purchased goods from Manu on credit 25,000 | |||||
| 2nd | : | Sold goods to Sonu 20,000 | |||||
| 3rd | : | Purchased goods from Meenu 15,000 | |||||
| 4th | : | Sold goods to Tanu for cash 16,000 | |||||
| 5th | : | Goods retuned to Manu 2,000 | |||||
| 6th | : | Bought furniture for 15,000 | |||||
| 7th | : | Bought goods from Zenu 12,000 | |||||
| 8th | : | Cash paid to Manu 10,000 | |||||
| 9th | : | Sold goods to Jane 13,500 | |||||
| 10th | : | Goods returned from Sonu 3,000 | |||||
| 11th | : | Cash received from Jane 5,500 | |||||
| 12th | : | Goods taken by Ramu for domestic use 3,000 | |||||
| 13th | : | Returned Goods to Zenu 1,000 | |||||
| 14th | : | Cash received from Sonu 12,000 | |||||
| 15th | : | Bought machinery for 18,000 | |||||
| 16th | : | Sold part of the furniture for 1,000 | |||||
| 17th | : | Cash paid for the purchase of bicycle for Ramu’s son 1,500 | |||||
| 19th | : | Cash sales 15,000 | |||||
| 20th | : | Cash purchases 13,500 | |||||
| Journal in the books of M/s Rama & Sons for the period from July 1st, _5 to July 31st, _5 |
|||||||
| Date | V/R No. |
Particulars | L/F | Amount (Dr) |
Amount (Cr) |
||
| July 1st | – | Cash a/c
To Capital a/c |
Dr | – – |
75,00,000 | 75,00,000 |
|
| [Being the amount received from Mr. Ramu, the proprietor as his capital contribution vide receipt no:___ dated:__] | |||||||
| July 1st | – | Goods/stock a/c
To Manu a/c |
Dr | – – |
25,00,000 | 25,00,000 |
|
| [Being the value of stock purchased from Mr. Manu vide bill no:___ dated:__] | |||||||
| July 2nd | – | Sonu a/c
To Goods/stock a/c |
Dr | – – |
20,00,000 | 20,00,000 |
|
| [Being the value of stock sold to Mr.Sonu vide bill no:___ dated:__] | |||||||
| July 3rd | – | Goods/stock a/c
To Meenu a/c |
Dr | – – |
15,00,000 | 15,00,000 |
|
| [Being the value of stock purchased from Mr.Meenu on credit vide bill no:___ dated:__] | |||||||
| July 4th | – | Cash a/c
To Goods/stock a/c |
Dr | – – |
16,00,000 | 16,00,000 |
|
| [Being the value of stock sold to Mr. Tanu for cash vide receipt no:___ dated:__] | |||||||
| July 5th | – | Manu a/c
To Goods/stock a/c |
Dr | – – |
2,00,000 | 2,00,000 |
|
| [Being the value of stock returned to Mr. Manu vide bill no:___ dated:__] | |||||||
| July 6th | – | Furniture a/c
To Cash a/c |
Dr | – – |
15,00,000 | 15,000,00 |
|
| [Being the value of furniture purchased from M/s ___vide bill no:___ dated:__] | |||||||
| July 7th | – | Goods/stock a/c
To Zenu a/c |
Dr | – – |
12,00,000 | 12,00,000 |
|
| [Being the value of stock Purchased from Mr. Zenu vide bill no:___ dated:__] | |||||||
| July 8th | – | Manu a/c
To Cash a/c |
Dr | – – |
10,00,000 | 10,00,000 |
|
| [Being the amount paid to Mr. Manu vide voucher no:___ dated:__] | |||||||
| July 9th | – | Jane a/c
To Goods/stock a/c |
Dr | – – |
13,5000 | 13,5000 |
|
| [Being the value of stock Sold to Ms.Zane vide bill no:___ dated:__] | |||||||
| July 10th | – | Goods/stock a/c
To Sonu a/c |
Dr | – – |
3,00000 | 3,00000 |
|
| [Being the value of stock returned from Mr. Sonu vide bill no:___ dated:__] | |||||||
| July 11th | – | Cash a/c
To Jane a/c |
Dr | – – |
5,50000 | 5,50000 |
|
| [Being the amount of cash received from Ms. Jane vide cash receipt no:___ dated:__] | |||||||
| July 12th | – | Drawings a/c
To Goods/stock a/c |
Dr | – – |
3,00000 | 3,00000 |
|
| [Being the amount of stock taken by Ramu for domestic use vide bill no:___ dated:__] | |||||||
| July 13th | – | Zenu a/c
To Goods/stock a/c |
Dr | – – |
1,00000 | 1,00000 |
|
| [Being the amount of stock returned to Mr. Zenu vide bill no:___ dated:__] | |||||||
| July 14th | – | Cash a/c
To Sonu a/c |
Dr | – – |
12,00000 | 12,00000 |
|
| [Being the amount of cash received from Mr. Sonu vide cash receipt no:___ dated:_] | |||||||
| July 15th | – | Machinery a/c
To Cash a/c |
Dr | – – |
18,00000 | 18,00000 |
|
| [Being the amount paid for machinery purchased to M/s ____vide voucher no:___ dated:__] | |||||||
| July 16th | – | Cash a/c
To Furniture a/c |
Dr | – – |
1,00000 | 1,00000 |
|
| [Being the amount received on sale of furniture vide cash receipt no:___ dated:__] | |||||||
| July 17th | – | Drawings a/c
To Cash a/c |
Dr | – – |
15,00000 | 15,00000 |
|
| [Being the amount of cash paid for bicycle purchases for proprietor’s son vide voucher no:___ dated:__] | |||||||
| July 19th | – | Cash a/c
To Goods/stock a/c |
Dr | – – |
15,00000 | 15,00000 |
|
| [Being the value of stock sold for cash vide receipt no:___ dated:__] | |||||||
| July 20th | – | Goods/stock a/c
To Cash a/c |
Dr | – – |
13,50000 | 13,50000 |
|
| [Being the value of stock Purchased for vide voucher no:___ dated:__] | |||||||
General Ledger
[Books of Mr. Ramu]
| Cash a/c | |||||||
| DrCr | |||||||
| Date | Particulars | J/F | Amount | Date | Particulars | J/F | Amount |
| 01/10/_5 04/10/_5 11/10/_5 14/10/_5 16/10/_5 19/10/_5 |
To Capital a/c To Goods/stock a/c To Jane a/c To Sonu a/c To Furniture a/c To Goods/stock a/c |
– – – – – – |
75,00000 16,00000 5,50000 12,00000 1,00000 15,00000 |
06/10/_5 08/10/_5 15/10/_5 17/10/_5 20/10/_5 30/07/_5 |
By Furniture a/c By Manu a/c By Machinery a/c By Drawings a/c By Goods/stock a/c By Balance c/d |
– – – – – – |
15,00000 10,00000 18,00000 15,00000 13,50000 53,00000 |
| Tl | 1,24,50000 | tl | 1,24,50000 | ||||
| 31/07/_5 | To Balance b/d | – | 53,00000 | ||||
| Capital a/c | |||||||
| DrCr | |||||||
| Date | Particulars | J/F | Amount | Date | Particulars | J/F | Amount |
| 30/07/_5 | To Balance c/d | – | 75,00000 | 01/10/_5 | By Cash a/c | – | 75,00000 |
| tl | 75,00000 | tl | 75,00000 | ||||
| 31/07/_5 | By Balance b/d | – | 75,00000 | ||||
| Goods/stock a/c | |||||||
| DrCr | |||||||
| Date | Particulars | J/F | Amount | Date | Particulars | J/F | Amount |
| 01/10/_5 03/10/_5 07/10/_5 10/10/_5 20/10/_5 30/07/_5 |
To Manu a/c To Meenu a/c To Zenu a/c To Sonu a/c To Cash a/c To Balance c/d |
– – – – – – |
25,00000 15,00000 12,00000 3,00000 13,50000 2,00000 |
02/10/_5 04/10/_5 05/10/_5 09/10/_5 12/10/_5 13/10/_5 19/10/_5 |
By Sonu a/c By Cash a/c By Manu a/c By Jane a/c By Drawings a/c By Zenu a/c By Cash a/c |
– – – – – – – |
20,00000 16,00000 2,00000 13,50000 3,00000 1,00000 15,00000 |
| Tl | 70,50000 | tl | 70,50000 | ||||
| 31/07/_5 | By Balance b/d | – | 2,00000 | ||||
| Manu a/c | |||||||
| DrCr | |||||||
| Date | Particulars | J/F | Amount | Date | Particulars | J/F | Amount |
| 05/10/_5 08/10/_5 30/07/_5 |
To Goods/stock a/c To Cash a/c To Balance c/d |
– – – |
2,00000 10,00000 13,00000 |
01/10/_5 | By Goods/stock a/c | – | 25,00000 |
| tl | 25,00000 | tl | 25,00000 | ||||
| 31/07/_5 | By Balance b/d | – | 13,00000 | ||||
| Sonu a/c | |||||||
| DrCr | |||||||
| Date | Particulars | J/F | Amount | Date | Particulars | J/F | Amount |
| 02/10/_5 | To Goods/stock a/c | – | 20,00000 | 10/10/_5 14/10/_5 30/07/_5 |
By Goods/stock a/c By Cash a/c By Balance c/d |
– – – |
3,00000 12,00000 5,00000 |
| tl | 20,00000 | tl | 20,00000 | ||||
| 31/07/_5 | To Balance b/d | – | 5,00000 | ||||
| Meenu a/c | |||||||
| DrCr | |||||||
| Date | Particulars | J/F | Amount | Date | Particulars | J/F | Amount |
| 30/07/_5 | To Balance c/d | – | 15,00000 | 03/10/_5 | By Goods/stock a/c | – | 15,00000 |
| Tl | 15,00000 | tl | 15,00000 | ||||
| 31/07/_5 | By Balance b/d | – | 15,00000 | ||||
| Furniture a/c | |||||||
| DrCr | |||||||
| Date | Particulars | J/F | Amount | Date | Particulars | J/F | Amount |
| 06/10/_5 | To Cash a/c | – | 15,00000 | 16/10/_5 30/07/_5 |
By Cash a/c By Balance c/d |
– – |
1,00000 14,00000 |
| tl | 15,00000 | tl | 15,00000 | ||||
| 31/07/_5 | To Balance b/d | – | 14,00000 | ||||
| Jane a/c | |||||||
| DrCr | |||||||
| Date | Particulars | J/F | Amount | Date | Particulars | J/F | Amount |
| 09/10/_5 | To Goods/stock a/c | – | 13,50000 | 11/10/_5 30/07/_5 |
By Cash a/c By Balance c/d |
– – |
5,50000 8,00000 |
| Tl | 13,50000 | tl | 13,50000 | ||||
| 31/07/_5 | To Balance b/d | – | 8,00000 | ||||
| Drawings a/c | |||||||
| DrCr | |||||||
| Date | Particulars | J/F | Amount | Date | Particulars | J/F | Amount |
| 12/10/_5 17/10/_5 |
To Goods/stock a/c To Cash a/c |
– – |
3,00000 15,00000 |
30/07/_5 | By Balance c/d | – | 18,00000 |
| tl | 18,00000 | tl | 18,00000 | ||||
| 31/07/_5 | To Balance b/d | – | 18,00000 | ||||
| Machinery a/c | |||||||
| DrCr | |||||||
| Date | Particulars | J/F | Amount | Date | Particulars | J/F | Amount |
| 15/10/_5 | To Cash a/c | – | 18,00000 | 30/07/_5 | By Balance c/d | – | 18,00000 |
| tl | 18,00000 | tl | 18,00000 | ||||
| 31/07/_5 | To Balance b/d | – | 18,00000 |
|
|||
| Aug 10th | : | Moon commenced business with a capital of 1,50,000 |
| 11th | : | Cash deposited into bank 50,000 |
| 12th | : | Bought equipment for 15,000 |
| 13th | : | Bought goods worth 20,000 from Star and payment made by cheque |
| 14th | : | Sold goods to Sun for 15,000 and payment received through cheque |
| 16th | : | Paid rent by cheque 5,000 |
| 17th | : | Took loan from Mr. Storm 25,000 |
| 18th | : | Received commission from Mr. Air by cheque 5,000 |
| 19th | : | Wages paid 15,000 |
| 20th | : | Withdrew from bank for personal use 3,000 |
| 21st | : | Withdrew from bank for office use 10,000 |
| 22nd | : | Bought goods for 25,000 |
| 23rd | : | Cash paid into bank 30,000 |
| 24th | : | Interest paid through cheque 2,000 |
| 25th | : | Gave loan to Mr.Wind 10,000 |
| 26th | : | Amount paid to Mr. Storm on loan account 15,000 |
| 27th | : | Salary paid to Manager Mr. Liquid 5,000 |
| 28th | : | Postage paid 1,000 |
| 29th | : | Received cheque from Mr. Wind on loan account 3,000 |
| 30th | : | Sold part of the equipment for 2,000 |
Journalise the following transactions in the books of Moon and post them into the ledger for the month of August
| Journal in the books of M/s Rama & Sons for the period from August 10th, _5 to August 30th, _5 |
||||||
| Date | V/R No. |
Particulars | L/F | Amount (Dr) |
Amount (Cr) |
|
| August 10th | – | Cash a/c
To Capital a/c |
Dr | – – |
1,50,000 | 1,50,000 |
| [Being the amount received from Mr. Moon, the proprietor as his capital contribution vide receipt no:__ dated:__] | ||||||
| 11th | – | Bank a/c
To Cash a/c |
Dr | – – |
50,000 | 50,000 |
| [Being the amount of cash deposited into bank vide bill no:___ dated:__] | ||||||
| 12th | – | Equipment a/c
To Cash a/c |
Dr | – – |
15,000 | 15,000 |
| [Being the value of equipment purchased from M/s___ for cash vide bill no:___ dated:__] | ||||||
| 13th | – | Goods/stock a/c
To Bank a/c |
Dr | – – |
20,000 | 20,000 |
| [Being the payment made for stock purchased vide Cheque no:__ dated:__] | ||||||
| 14th | – | Bank a/c
To Goods/stock a/c |
Dr | – – |
15,000 | 15,000 |
| [Being the amount received for stock sold to Mr. Sun vide Cheque no:__ dated:__] | ||||||
| 16th | – | Rent a/c
To Bank a/c |
Dr | – – |
5,000 | 5,000 |
| [Being the amount paid for rent vide voucher no:___ dated:__] | ||||||
| 17th | – | Cash a/c
To Loan from Storm a/c |
Dr | – – |
25,000 | 25,000 |
| [Being the cash received from Mr. Storm as loan vide receipt no:___ dated:__] | ||||||
| 18th | – | Bank a/c
To Commission a/c |
Dr | – – |
5,000 | 5,000 |
| [Being the amount received for commission vide cheque no:__ dated:__] | ||||||
| 19th | – | Wages a/c
To Cash a/c |
Dr | – – |
15,000 | 15,000 |
| [Being the amount paid for wages vide voucher no:___ dated:__] | ||||||
| 20th | – | Drawings a/c
To Bank a/c |
Dr | – – |
3,000 | 3,000 |
| [Being the amount withdrawn from bank for personal use vide cheque no:___ dated:__] | ||||||
| 21st | – | Cash a/c
To Bank a/c |
Dr | – – |
10,000 | 10,000 |
| [Being the amount withdrawn from bank for office purpose vide cheque no:___ dated:__] | ||||||
| 22nd | – | Goods/stock a/c
To Cash a/c |
Dr | – – |
25,000 | 25,000 |
| [Being the amount of cash paid for stock purchases vide voucher no:___ dated:__] | ||||||
| 23rd | – | Bank a/c
To Cash a/c |
Dr | – – |
30,000 | 30,000 |
| [Being the amount deposited into bank vide voucher no:___ dated:__] | ||||||
| 24th | – | Interest a/c
To Bank a/c |
Dr | – – |
2,000 | 2,000 |
| [Being the amount of interest paid vide cheque no:___ dated:__] | ||||||
| 25th | – | Loan to Mr. Wind a/c
To Cash a/c |
Dr | – – |
10,000 | 10,000 |
| [Being the amount of cash given to Mr. Wind as loan vide voucher no:___ dated:__] | ||||||
| 26th | – | Loan from Strom a/c
To Cash a/c |
Dr | – – |
15,000 | 15,000 |
| [Being the amount paid to Mr. Storm for repayment of loan vide voucher no:___ dated:__] | ||||||
| 27th | – | Salary a/c
To Cash a/c |
Dr | – – |
5,000 | 5,000 |
| [Being the amount paid for salary to Mr. Liquid vide voucher no:___ dated:__] | ||||||
| 28th | – | Postage a/c
To Cash a/c |
Dr | – – |
1,000 | 1,000 |
| [Being the amount paid for purchase of postage vide voucher no:___ dated:__] | ||||||
| 29th | – | Bank a/c
To Loan to Mr. wind a/c |
Dr | – – |
3,000 | 3,000 |
| [Being the Cheque no:___ date___ received from Mr. Wind for repayment of loan] | ||||||
| 30th | – | Cash a/c
To Equipment a/c |
Dr | – – |
2,000 | 2,000 |
| [Being the amount received on sale of equipment vide receipt no:___ dated:__] | ||||||
General Ledger
[Books of M/s Rama & Sons]
| Cash a/c | |||||||
| DrCr | |||||||
| Date | Particulars | J/F | Amount | Date | Particulars | J/F | Amount |
| 10/10/_5 17/10/_5 21/10/_5 30/10/_5 |
To Capital a/c To Loan from Storm a/c To Bank a/c To Equipment a/c |
– – – – |
1,50,000 25,000 10,000 2,000 |
11/10/_5 12/10/_5 19/10/_5 22/10/_5 23/10/_5 25/10/_5 26/10/_5 27/10/_5 28/10/_5 31/08/_5 |
By Bank a/c By Equipment a/c By Wages a/c By Goods/stock a/c By Bank a/c By Loan to Mr. Wind a/c By Loan from Strom a/c By Salary a/c By Postage a/c By Balance c/d |
– – – – – – – – – – |
50,000 15,000 15,000 25,000 30,000 10,000 15,000 5,000 1,000 21,000 |
| Tl | 1,87,000 | tl | 1,87,000 | ||||
| 01/09/_5 | To Balance b/d | – | 21,000 | ||||
| Capital a/c | |||||||
| DrCr | |||||||
| Date | Particulars | J/F | Amount | Date | Particulars | J/F | Amount |
| 31/08/_5 | To Balance c/d | – | 1,50,000 | 10/10/_5 | By Cash a/c | – | 1,50,000 |
| Tl | 1,50,000 | tl | 1,50,000 | ||||
| 01/09/_5 | By Balance b/d | – | 1,50,000 | ||||
| Bank a/c | |||||||
| DrCr | |||||||
| Date | Particulars | J/F | Amount | Date | Particulars | J/F | Amount |
| 11/10/_5 14/10/_5 18/10/_5 23/10/_5 29/10/_5 |
To Cash a/c To Goods/stock a/c To Commission a/c To Cash a/c To Loan to Mr. wind a/c |
– – – – – |
50,000 15,000 5,000 30,000 3,000 |
13/10/_5 16/10/_5 20/10/_5 21/10/_5 24/10/_5 31/08/_5 |
By Goods/stock a/c By Rent a/c By Drawings a/c By Cash a/c By Interest a/c By Balance c/d |
– – – – – – |
20,000 5,000 3,000 10,000 2,000 63,000 |
| Tl | 1,03,000 | tl | 1,03,000 | ||||
| 01/09/_5 | To Balance b/d | – | 63,000 | ||||
| Equipment a/c | |||||||
| DrCr | |||||||
| Date | Particulars | J/F | Amount | Date | Particulars | J/F | Amount |
| 12/10/_5 | To Cash a/c | – | 15,000 | 30/10/_5 31/08/_5 |
By Cash a/c By Balance c/d |
– – |
2,000 13,000 |
| Tl | 15,000 | tl | 15,000 | ||||
| 01/09/_5 | To Balance b/d | – | 13,000 | ||||
| Goods/stock a/c | |||||||
| DrCr | |||||||
| Date | Particulars | J/F | Amount | Date | Particulars | J/F | Amount |
| 13/10/_5 22/10/_5 |
To Bank a/c To Cash a/c |
– – |
20,000 25,000 |
14/10/_5 31/08/_5 |
By Bank a/c By Balance c/d |
– – |
15,000 30,000 |
| Tl | 45,000 | tl | 45,000 | ||||
| 01/09/_5 | To Balance b/d | – | 30,000 | ||||
| Rent a/c | |||||||
| DrCr | |||||||
| Date | Particulars | J/F | Amount | Date | Particulars | J/F | Amount |
| 16/10/_5 | To Bank a/c | – | 5,000 | 31/08/_5 | By Balance c/d | – | 5,000 |
| Tl | 5,000 | tl | 5,000 | ||||
| 01/09/_5 | To Balance b/d | – | 5,000 | ||||
| Loan from Storm a/c | |||||||
| DrCr | |||||||
| Date | Particulars | J/F | Amount | Date | Particulars | J/F | Amount |
| 31/08/_5 | To Balance c/d | – | 25,000 | 17/10/_5 | By Cash a/c | – | 25,000 |
| Tl | 25,000 | tl | 25,000 | ||||
| 01/09/_5 | By Balance b/d | – | 25,000 | ||||
| Commission a/c | |||||||
| DrCr | |||||||
| Date | Particulars | J/F | Amount | Date | Particulars | J/F | Amount |
| 31/08/_5 | To Balance c/d | – | 5,000 | 18/10/_5 | By Bank a/c | – | 5,000 |
| Tl | 5,000 | tl | 5,000 | ||||
| 01/09/_5 | By Balance b/d | – | 5,000 | ||||
| Wages a/c | |||||||
| DrCr | |||||||
| Date | Particulars | J/F | Amount | Date | Particulars | J/F | Amount |
| 19/10/_5 | To Cash a/c | – | 15,000 | 31/08/_5 | By Balance c/d | – | 15,000 |
| Tl | 15,000 | tl | 15,000 | ||||
| 01/09/_5 | To Balance b/d | – | 15,000 | ||||
| Drawings a/c | |||||||
| DrCr | |||||||
| Date | Particulars | J/F | Amount | Date | Particulars | J/F | Amount |
| 20/10/_5 | To Bank a/c | – | 3,000 | 31/08/_5 | By Balance c/d | – | 3,000 |
| Tl | 3,000 | tl | 3,000 | ||||
| 01/09/_5 | To Balance b/d | – | 3,000 | ||||
| Interest a/c | |||||||
| DrCr | |||||||
| Date | Particulars | J/F | Amount | Date | Particulars | J/F | Amount |
| 24/10/_5 | To Bank a/c | – | 2,000 | 31/08/_5 | By Balance c/d | – | 2,000 |
| Tl | 2,000 | tl | 2,000 | ||||
| 01/09/_5 | To Balance b/d | – | 2,000 | ||||
| Loan to Mr. Wind a/c | |||||||
| DrCr | |||||||
| Date | Particulars | J/F | Amount | Date | Particulars | J/F | Amount |
| 25/10/_5 | To Cash a/c | – | 10,000 | 31/08/_5 | By Balance c/d | – | 10,000 |
| Tl | 10,000 | tl | 10,000 | ||||
| 01/09/_5 | To Balance b/d | – | 10,000 | ||||
| Loan from Strom a/c | |||||||
| DrCr | |||||||
| Date | Particulars | J/F | Amount | Date | Particulars | J/F | Amount |
| 26/10/_5 | To Cash a/c | – | 15,000 | 31/08/_5 | By Balance c/d | – | 15,000 |
| Tl | 15,000 | tl | 15,000 | ||||
| 01/09/_5 | To Balance b/d | – | 15,000 | ||||
| Salary a/c | |||||||
| DrCr | |||||||
| Date | Particulars | J/F | Amount | Date | Particulars | J/F | Amount |
| 27/10/_5 | To Cash a/c | – | 5,000 | 31/08/_5 | By Balance c/d | – | 5,000 |
| Tl | 5,000 | tl | 5,000 | ||||
| 01/09/_5 | To Balance b/d | – | 5,000 | ||||
| Postage a/c | |||||||
| DrCr | |||||||
| Date | Particulars | J/F | Amount | Date | Particulars | J/F | Amount |
| 28/10/_5 | To Cash a/c | – | 1,000 | 31/08/_5 | By Balance c/d | – | 1,000 |
| tl | 1,000 | tl | 1,000 | ||||
| 01/09/_5 | To Balance b/d | – | 1,000 | ||||
| Loan to Mr. wind a/c | |||||||
| DrCr | |||||||
| Date | Particulars | J/F | Amount | Date | Particulars | J/F | Amount |
| 31/08/_5 | To Balance c/d | – | 3,000 | 29/10/_5 | By Bank a/c | – | 3,000 |
| tl | 3,000 | tl | 3,000 | ||||
| 01/09/_5 | By Balance b/d | – | 3,000 | ||||
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34, Rest Camp, West,
Tyagi Road, Dehradun
Phone : +91-941-111-4532 / +91-914-935-2988
Email : info@shahealthcare.org
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