Question

1. Enter the following transactions in proper Subsidiary Books, post them into
Ledger Accounts, balance the accounts and prepare a Trial Balance.
2011
June 1. Assets : Cash in hand Rs. 20,000, Debtors : Amit and Co. Rs. 15,000,
Sumit Bros. Rs. 30,000, Stock Rs. 1,75,000, Machunery Rs. 1,20,000, Furniture
Rs. 40,000
Liabilities: Bank overdraft Rs. 33,000, Creditors: Virat and Co. Rs. 24,000,
Vishal Rs. 16,000.
June 2 - Purchased from Ramesh and Sons goods of the list price of Rs. 20,000 at 10%
trade discount
June 5 - Returned to Ramesh & Sons goods of the list price of Rs. 2,000.
June 10 - Issued a cheque to Ramesh and Sons in full settlement of their account
June 12 - Sold to Amit and Co., goods worth Rs. 25,000
June 15 - Received cash Rs. 10,000 and a cheque for Rs. 8,000 from Amat and Co. The
cheque was immediately deposited into the bank.
June 16 - Withdrawn for personal use cash Rs. 5,000 and goods of Rs. 3,000.
June 17 - Accepted a bill for 45 days drawn by Virat and Co for the amount due to
him.
June 18 - Acceptance received from Sumit Bros. tor the amount due from them
payable after 30 days.
June 19 - Sold to Mohit Bros., goods for Rs. 16,000.
June 20 - Cash purchases Rs. 15,000
June 22 - Withdrawn from bank for office use Rs. 10,000
Tune 23 - Purchased from Vishal goods valued at Rs. 24,000. Tune 24 Amat and Co.
returned goods worth Rs. 2,000. June 25 Received from Mohit Bros. Rs. 10,000
June 27 - Accepted a bill for Rs. 25,000 for 1 month draw by Vishal June 27. Paid by
cheque, Rent Rs. 2,800
June 27 - Received Commission in Cash Rs. 800
June 30 - Paid salaries Rs. 5,000.
Trial Balance Answer: Rs.4,88,600​

Answer 1

Answer:

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Answer 2

Answer:

Explanation:

LEDGER ACCOUNT

To balance b/d    15000         By Cash A/c     10,000

To sales A/c          25000       By Bank A/c       8000

                                                 By sales Return   2000

                                                  By balance c/d  20000

Trial Balance Account

cash A/c     dr     25800

amit & co.    Dr.  20000

Sumit bros  Dr.   30000

Stock a/c     Dr. 175000

Machinery A/c  Dr.  120000

Furniture A/c   Dr. 40000

bank overdraft cr 24000

Vishal A/c    Cr.   15000

capital a/c   cr.357000

Drawing a/c  dr. 8000

Purchase a/c  dr. 54000

Mohit bros Dr. 6000

Rent A/c   Dr. 2800

Commission Cr. 800

Salaries A/c  Dr. 5000

sales A/c Cr. 41000

sales Return Dr. 2000

Purchase return Cr. 1800

Virat & co. Cr. 24000

Vishal Cr. 25000

Trial balance : 488600