Question

25 transaction for accounting equation,journal,ledger,trial balance,cash book

Answer 1

We are providing you with few transactions of M/s. Rajesh Traders consisting of 16 transactions along with Journal entries, Ledgers, Trial Balance, Financial Statements along with some of the ledgers and similarly, you can prepare the remaining ledgers. The following are the transactions of M/s Rajesh Traders.DateParticulars2012 April 1Rajesh started his business with cash Rs 1,00,000April 10Rajesh opened an account in a bank with cash Rs 30,000May 10Purchased goods from Mohan Singh on credit Rs 40,000 and also paid carriage of Rs 2,000May 20Sold goods to Rajeev Rs 20,000May 25Due to some quality defect Mohan Singh returned goods of Rs 10,000June 15Sold goods to Ayesha for Rs 70,000June 30Paid rent of Rs 10,000Aug.31Purchased Furniture for cash of Rs 8,000Sept.10Paid through a cheque of Rs 5,000 for advertisementOct.05Withdrawn Rs 6,000 from Bank for personal useNov.30Recovered Rs 65,000 from Ayesha in full settlement of his accountDec.12Goods costing Rs 1,000 donated to NGODec.31Salaries paid to employees Rs 15,0002013 Jan.15Interest received from Bank Rs 2,000Feb.10Rajeev has become insolvent Rs 80 paisa in the rupees on a debt of Rs 20,000 was recovered as a compensationMarch 31Stock of good at end of the year is Rs 32,000  
Journalize above transaction, post them in ledgers, prepare Trial Balance and Financial Statements for year ending March 31, 2013  
 Books of M/s Rajesh TradersJournalDateParticularsL.F.Debit  
Amount  
(Rs)Credit  
Amount  
(Rs)2012     April 01Cash A/cDr. 1,00,000  To Capital A/c   1,00,000 (Business started with cash of Rs 1,00,000)          April 10Bank A/cDr. 30,000  To Cash A/c   30,000 (Opened a Bank Account)          May 10Purchase A/cDr. 40,000  To Mohan Singh   40,000 (Goods Purchased on credit)          May 10Carriage A/cDr. 2,000  To Cash A/c   2,000 (Carriage paid on purchase of goods)          May 20RajeevDr. 20,000  To Sales A/c   20,000 (Goods sold to Rajeev)          May 25Mohan SinghDr. 10,000  To Purchase Return A/c   10,000 (Goods returned by Mohan Singh)          June 15AyeshaDr. 70,000  To Sales A/c   70,000 (Goods Sold to Ayesha)          June 30Rent A/cDr. 10,000  To Cash A/c   10,000 (Rent Paid)          Aug.31Furniture A/cDr. 8,000  To Cash A/c   8,000 (Furniture purchased)          Sept.10Advertisement A/cDr. 5,000  To Bank A/c   5,000 (Advertisement expenses paid through cheque)          Oct.05Drawing A/cDr. 6,000  To Bank   6,000 (Withdrawn from bank for personal use)          Nov.30Cash A/cDr. 65,000  Discount Allowed A/cDr. 5,000  To Ayesha   70,000 (Recovered from Ayesha in full settlement of his account)          Dec.12Donation A/cDr. 1,000  To Purchases A/c   1,000 (Goods of Rs 1,000 donated to NGO)          Dec.31Salaries A/cDr. 15,000  To Cash A/c   15,000 (Salaries Paid to employees)          2013     Jan.15Bank A/cDr. 2,000  To Interest A/c   2,000 (Interest received)          Feb.10Cash A/cDr. 16,000  Bad debt A/cDr. 4,000  To Rajeev A/c   20,000 (Cash compensation of 80 paise in the rupees received from Rajeev)          Mar.31Closing Stock A/cDr. 32,000  To Trading A/c   32,000 (Closing stock transferred in account)                  Cash AccountDr. Cr.DateParticularsJ.F.Amount  
(Rs)DateParticularsJ.F.Amount  
(Rs)2012   2012   April.01Capital A/c 1,00,000April 10Bank A/c 30,000Nov.30Ayesha 65,000May 10Carriage A/c 2,0002013   June 30Rent A/c 10,000Feb.10Rajeev 16,000Aug.31Furniture A/c 8,000    Dec.31Salaries A/c 15,000    2013       Mar.31Balance c/d 1,16,000   1,81,000   1,81,000                   Bank A/cDr. Cr.DateParticularsJ.F.Amount  
(Rs)DateParticularsJ.F.Amount  
(Rs)2012   2012   April 10Cash A/c 30,000Sept.10Advertisement A/c 5,000    Oct.05Drawings A/c 6,0002013   2013   Jan.15Interest A/c 2,000Mar.31Balance c/d 21,000   32,000   32,000                    
  
 Mohan SinghDr. Cr.DateParticularsJ.F.Amount  
(Rs)DateParticularsJ.F.Amount  
(Rs)2012   2012   May 25Purchase Return 10,000May 10Purchases A/c 40,0002013       Mar 31Balance c/d 30,000       40,000   40,000                   Purchases A/cDr. Cr. DateParticularsJ.F.Amount  
(Rs)DateParticularsJ.F.Amount  
(Rs)2012   2012   May 10Mohan Singh 40,000Dec.12Donation A/c 1,000    2013       Mar.31Balance c/d 39,000   40,000   40,000

Answer 2

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