LEDGER Illustration 7 Record the following transactions in the personal account of Kapil : 2000 Rs. Apr. 1 Sold goods to Kapil 6,000 5 Cash received from Kapil 5,800 and allowed him discount 200 18 Kapil purchased goods 8,000 30 Received Cash from Kapil on account 4,500 Mayl Balance from last month b/d 3,500 12 Sold goods to kapil 12,000 22 Received Cash from Kapil S 4,850 and allowed him discount 150 31
Received Cash in full settlement of Kapil's Alc 10,250
how to draw the ledger
Answers
An account or record used to keep track of bookkeeping transactions for balance-sheet and income-statement transactions is a ledger.
- Each account has a beginning or carry-forward balance, as well as the ending or closing balance, and would note each activity as either a debit or credit in distinct columns.
- In the given question we need to prepare a ledger for Kapil
- The ledger can be noted as -
Date Particular Rs. Date Particular Rs
1.4.2000. To sales. 6,000 5.4.2000. By Cash. 5800
Discount. 200
18.4.2000 To sales 8,000. 30.4.2000. By cash. 4500
By bal c/d. 3500
14,000 14,000
1.5.2000. To bal b/d 3,500 22.5.2000. By Cash. 4850
Discount. 150
12.5.2000. To sales. 12,000 31.5.2000. By Cash. 10250
Discount. 250
15,500 15,500
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Answer: The ledger chart is the answer to this question which is shown in the solutions section.
Explanation:
LEDGER Illustration 7 Record the following transactions in the personal account of Kapil : 2000 Rs. Apr. 1 Sold goods to Kapil 6,000 5 Cash received from Kapil 5,800 and allowed him discount 200 18 Kapil purchased goods 8,000 30 Received Cash from Kapil on account 4,500 Mayl Balance from last month b/d 3,500 12 Sold goods to kapil 12,000 22 Received Cash from Kapil S 4,850 and allowed him discount 150 31:
Approaching the problem using the fixed table format as follows:-
An account or record used to keep track of bookkeeping transactions for balance-sheet and income-statement transactions is a ledger.
Each account has a beginning or carry-forward balance, as well as the ending or closing balance, and would note each activity as either a debit or credit in distinct columns.
In the given question we need to prepare a ledger for Kapil
The ledger can be noted as -
Date Particular Rs. Date Particular Rs
1.4.2000. To sales. 6,000 5.4.2000. By Cash. 5800
Discount. 200
18.4.2000 To sales 8,000. 30.4.2000. By cash. 4500
By bal c/d. 3500
14,000 14,000
1.5.2000. To bal b/d 3,500 22.5.2000. By Cash. 4850
Discount. 150
12.5.2000. To sales. 12,000 31.5.2000. By Cash. 10250
Discount. 250
15,500 15,500
This completes the balance sheet the answer.
For more such questions:-https://brainly.in/question/48244749
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