Question

7.42
Balancing of Ledger Account
8. Journalise the following transactions, post them into ledger and make the balancing of
ledger accounts:
2019
Ravi commenced business with cash * 80,000
April 6 Purchased furniture for 12,000
April 10 Purchased goods on credit from Dalip 16,600
April 12 Rent paid in cash 1,800
April 15 Goods sold for cash 10,000
April 1
7
Preparing a Personal Account
9. From the information given below:
(a) Prepare the account of Mr. Small as it would appear in the books of Mr. Big.
₹
2019
3,000
Mar. 1 Debit balance brought forward
Mar. 7 Mr. Small made credit purchases from Mr. Big
1,500
Mar. 12 Mr. Small returned defective goods
150
Mar. 15 Mr. Small paid on account
3,000
Mar. 30 Mr. Small repaired the roof of Mr. Big's premises and agreed to adjust the value of this work in his account 530
(b) What does the balance of the account at the end of the month mean?
10. From the following information, prepare Somesh's Account, balance it and explain what
does the closing balance indicate ?
2018
Jan. 1 Opening Balance (Dr.)
12,300
Jan. 10 Sold goods to him
67,000
Jan. 15 Received cash from him
30,000
Jan. 20 He returned goods
50.000



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Answer 1

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