Question

2. Journalise the following transactions in the books of Manoj, Kolkata and prepare Ledger Accounts:

Opening Debit Balances:

55,000;Stock 28,000; Debtors 25,000 (Sunil 5,000; Abhay 10,000 50,000; Furniture 10,000; Delivery Van 25,000.

Cash in Hand ? 15,000;Cash at Bank and Alok 10,000); Fixed Asset: Computer and Printer Opening Credit Balances:

Bank Loan 90,000; Creditors 20,000; Bills Payable 10,000; Capital 88,000.

Transactions for the month of April, 2020 were:

(1) Purchased goods on credit from M/s Prabhat Electricals, Delhi 10,000 less 10% Trade Discount.

Cheque was issued immediately and availed 2% Cash Discount

(ii) Cheque was received from Abhay for the balance allowing him discount of 2%.

(iii) Cheque was received from Alok, Kolkata for the balance due.

(iv) Sunil was unable to pay the full dues and offered to pay 75%, which was accepted. Cheque was duly received.

(v) Donated goods costing 1,000 to a charitable hospital.

(vi) In a competition given as an award. It had been purchased from Prabhat Electricals, Delhi.

held by the RWA where the shop is located an electric iron costing 500 was

15,000 provided in the books for the month of March, 2020 were paid by cheque.

(vii) Salaries amounting to (viii) A debt of 5,000 that was written off as bad debt in the past was received. (ix) Credit purchase of goods 7900000 and sold to customers for cash (x) Cash purchase of goods 1,00,000 and sold to customers on credit 3,00,000. (xi) Paid to creditors through cheques 7890000

(xii) Bank Loan repaid during the month

1500000

20,000.​

Answer 1

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