Question

3. From the following transactions of M/s. Wise & Active of Kolkata, write up the Journal, post them into Ledger and prepare Trial Balance:
2018 Rs.
Jan. 1 Assets: Cash in Hand Rs. 2,000; Cash at Bank Rs. 68,000; Stocks of Goods Rs. 40,000;
Machinery Rs. 1,00,000; Furniture Rs. 10,000; M/s. Narain Bros, owe Rs. 15,000; M/s. B.K. Bros, owe Rs. 25,000.
Liabilities: Loan Rs. 50,000; sum owing to Jacob Bros. Ltd. Rs. 20,000*
Jan. 2 Bought goods on credit from Samuel & Co., Kolkata 10,000
Jan. 3 Sold goods for cash to Dhiraj & Co., Delhi 4

Answer 1

Answer:

Cash in Hand Rs. 2,000; Cash at Bank Rs. 68,000; Stocks of Goods Rs. 40,000;

Machinery Rs. 1,00,000; Furniture Rs. 10,000; M/s. Narain Bros, owe Rs. 15,000; M/s. B.K. Bros, owe Rs. 25,000.

Liabilities: Loan Rs. 50,000; sum owing to Jacob Bros. Ltd. Rs. 20,000*

Jan. 2