Question

10. The following data is given by Mr. S, the owner, with a request to compile only the two
personal accounts of Mr. H and Mr. R, in his ledger, for the month of April, 2015.
1. Mr. Sowes Mr. R 15,000; Mr. Howes Mr. S* 20,000.
2. Mr. R sold goods worth R 60,000 @ 10% trade discount to Mr. S.
3. Mr. S sold to Mr. H goods prices at * 30,000.
4. Record a purchase of * 25,000 net from R, which were sold to H at a profit of 315,000.
5. Mr. S rejected 10% of Mr. R's goods of 4th April.
6. My. S issued a cash memo for 310,000 to Mr. H who came personally for this
consignment of goods, urgently needed by him.
3. Mr. H cleared half his total dues to Mr. S, enjoying a 12% cash discount (of the
payment received, 20,000 was by cheque).
8. R's total dues (less 510,000 held back) were cleared by cheque, enjoying a cash
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Answer 1

Answer:

Assignment I - Journal Q.1 Journalize the following relating to April 2009: Particulars Rs. 1. R. started business with 1,00,000 2. He purchased furniture for 20,000 3. Paid salary to his clerk 1,000 4. Paid rent 5,000 5. Received interest 2,000 Solution: Debit Amount Credit Date Particulars Ledger Folio (Rs) Amount (Rs) 1 Cash A/c Dr 100,000 To Capital A/c 100,000 2 Furniture A/c Dr 20,000 To Cash A/c 20,000 3 Salary A/c Dr 1,000 To Cash A/c 1,000 4 Rent A/c Dr 5,000 To Cash A/c 5,000 5 Cash A/c Dr 2,000 To Interest A/c 2,000