Accountancy, asked by ujjwalagrawal7509, 4 months ago

,000
Jan 31
000
Balance of alc
000
Ans.
000
000
000
2015
of
19)
00
00
00
00
Closing of Accounts
Journalise the following transactions and post them in Ledger and close the
accounts at the end of the year :
March | Started business
March 3 Purchased goods from Chunnilal
March 5 Sold goods to Harihar
March 6 Sold goods to Rakesh Brothers
March 9 Goods purchased for cash
March 10 Returned goods to Chunnilal
March 12 Goods returned by Harihar
March 14 Took Loan from Paras
March 18 Cash received from Harihar
March 22 Paid for trade expenses
March 24 Sold goods to Gopal
March 25 Withdrew for personal use
Given away as charity
March 26 Purchased machinery
March 27 Purchased goods from Mishrilal
March 30 Paid rent
March 31 Paid wages
March 31 Paid electricity expenses
In Total of lournal 7210001
March 20 Sold goods for cash
5,000
2.500
2,000
750
1,500
500
500
2,500
1,500
1,000
250
1.750
750
250
2.000
1,000
50
150
50
0
)
]

Answers

Answered by Anonymous

Answer:

(a) Partner's Loan A/c Dr. 10000

To Bank A/c 10000

(Being payment of partner's loan)

(b) X's Capital A/c Dr. 300

To Realisation A/c 300

(Being unrecorded asset taken over by partner)

Y's Capital A/c Dr. 10000

Z's Capital A/c Dr. 10000

To Profit and Loss A/c 30000

(Being debit balance of profit and loss distributed among partners)

(d) Bank A/C..... Dr. 125000

To Realisation A/c 125000

(Being realisation of assets)

(e) Realisation A/c Dr. 2000

To Y's Capital A/c 2000

(Being remuneration given to Y to carry out dissolution)

(f) No entry is passed since creditors are paid in full settlement of their account.