accounts
Transactions
Show Journal entries to record the following transactions. Post them into appropriate Ledger Accounts and then extract a Trial Balance on 31st December, 2012:
2012
Jan 1st: Commenced business with cash Rs 1,00,000.
Jan 10th: Bought office equipment worth Rs 40,000.
Jan 25th: Purchased goods worth Rs 25,000; less 10% trade dis. on credit from Rahul.
Feb 4th: Purchased office stationary worth Rs 500.
Feb 9th: Paid premium for fire insurance Rs 5,000
Feb 20th: Sold goods on credit to Raj Rs 35,000
Mar 16th: Deposited money in bank Rs 30,000
Mar 28th: Returned goods worth Rs 2,000 to Rahul.
April 15th: Raj returned goods worth Rs 3,000.
May 8th: Paid salary to staff Rs 4,000.
May 22nd: Paid Rs 18,000 to Rahul on account; 6,000 by cash and 12,000 by cheque
June 11th: Paid electricity charges Rs 7,000.
June 25th: Received Rs 27,000 from Raj on account; 15000 by cash and 12,000 by cheque.
July 2nd: Withdrew Rs 10,000 cash for Samya’s personal use
July 18th: Purchased goods worth Rs 30,000 on credit from John.
Aug 10th: Withdrew Rs 5,000 from bank for office use.
Aug 20: Sold goods on credit to Sita Rs 40,000
Sep 5th: Paid salary to staff Rs 5,000
Sep21: Invested further capital, Rs 15000; Rs 9000 by cash and Rs 6000 by cheque
Oct 18th: Raj paid Rs 35,000; cash dis. allowed Rs 1000.
Oct 27th: Issued a debit note to John worth Rs 1000
Nov 12th: Received commission Rs 5000 by cash.
Nov 24th: Paid Rs 25,000 to John on account, Rs 15000 by cheque and Rs 10,000 by cash.
Dec 3rd: Paid salary to staff Rs 5,000
Dec 16th: Paid electricity charges Rs 6,000.
Dec 30th: Withdrew Rs 10,000 from bank for personal use.
JOURNAL
IN THE BOOKS OF MITTALS & CO.
Journal Entries
Date
PARTICULARS
L/
F
DEBIT
Rs
CREDIT
Rs
1-1-12
Cash A/c Dr To Capital A/c
(Being business started with cash)
1,00,000
1,00,000
10-1-12
Show Journal entries to record the following transactions. Post them into appropriate Ledger Accounts and then extract a Trial Balance on 31st December, 2012:
2012
Jan 1st: Commenced business with cash Rs 1,00,000.
Jan 10th: Bought office equipment worth Rs 40,000.
Jan 25th: Purchased goods worth Rs 25,000; less 10% trade dis. on credit from Rahul.
Feb 4th: Purchased office stationary worth Rs 500.
Feb 9th: Paid premium for fire insurance Rs 5,000
Feb 20th: Sold goods on credit to Raj Rs 35,000
Mar 16th: Deposited money in bank Rs 30,000
Mar 28th: Returned goods worth Rs 2,000 to Rahul.
April 15th: Raj returned goods worth Rs 3,000.
May 8th: Paid salary to staff Rs 4,000.
May 22nd: Paid Rs 18,000 to Rahul on account; 6,000 by cash and 12,000 by cheque
June 11th: Paid electricity charges Rs 7,000.
June 25th: Received Rs 27,000 from Raj on account; 15000 by cash and 12,000 by cheque.
July 2nd: Withdrew Rs 10,000 cash for Samya’s personal use
July 18th: Purchased goods worth Rs 30,000 on credit from John.
Aug 10th: Withdrew Rs 5,000 from bank for office use.
Aug 20: Sold goods on credit to Sita Rs 40,000
Sep 5th: Paid salary to staff Rs 5,000
Sep21: Invested further capital, Rs 15000; Rs 9000 by cash and Rs 6000 by cheque
Oct 18th: Raj paid Rs 35,000; cash dis. allowed Rs 1000.
Oct 27th: Issued a debit note to John worth Rs 1000
Nov 12th: Received commission Rs 5000 by cash.
Nov 24th: Paid Rs 25,000 to John on account, Rs 15000 by cheque and Rs 10,000 by cash.
Dec 3rd: Paid salary to staff Rs 5,000
Dec 16th: Paid electricity charges Rs 6,000.
Dec 30th: Withdrew Rs 10,000 from bank for personal use.
JOURNAL
IN THE BOOKS OF MITTALS & CO.
Journal Entries
Date
PARTICULARS
L/
F
DEBIT
Rs
CREDIT
Rs
1-1-12
Cash A/c Dr To Capital A/c
(Being business started with cash)
1,00,000
1,00,000
10-1-12