Financial Accounting
18. On 1st May 1999, the following were the ledger balance of Ms. Kishan Lal & COR
Cash in hand Rs. 600; Cash at Bank Rs. 14.000;
Bills payable Rs. 2,000; Jamal (Dr) Rs. 1,600;
Stock Rs. 8,000;
Guru (Cr) Rs. 4,000;
Sankar (Dr) Rs.3.000; Rahim (Cr) Rs. 1.800;
Capital Rs. 19,400.
Transactions during the month were :
Rs.
May2 Bought goods of Guru
1.800
3 Sold to Sankar
2,000
5 Bought of Rahim
2.400
8 Sold to Jamal
1,000
15 Guru paid by Cheque
1,500
18 Received from Sankar by Cheque
4,000
Allowed him discount
100
19 Sold goods to Sankar
20 Paid rent by cheque
300
25 Sold to Jamal
2,000
31 Paid salaries
600
Journalise the above transactions and post the entries in the ledger accounts
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