40 transactions with their journal entries, ledger , trial balance, to prepare a project
Answers
Follow these steps:
Make journals
ledger accounts
trial balance
Profit & loss account
balance sheet
Answer:
40 transactions with their journal entries
All Ledger accounts are prepared in the 'T format' with the debit transactions posted on the left column and credit transactions on the right. The Trial Balance is prepared in a columnar format with separate columns for posting the debit and credit balance of ledger accounts
Explanation:
April 1
Rajesh started his business with cash Rs 1,00,000
April 10 Rajesh opened an account in a bank with cash Rs 30,000
May 10 Purchased goods from Mohan Singh on credit Rs 40,000 and also paid carriage of Rs2,000
May 20 Sold goods to Rajeev Rs 20,000
May 25 Due to some quality defect Mohan Singh returned goods of Rs 10,000
June 15 Sold goods to Ayesha for Rs 70,000
June 30 Paid rent of Rs 10,000
Aug.31 Purchased Furniture for cash of Rs 8,000
To learn more about journal entries visit
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