Project of Class 11 About 60 Transaction
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Answer:
We are providing you with few transactions of M/s. Rajesh Traders consisting of 16 transactions along with Journal entries, Ledgers, Trial Balance, Financial Statements along with some of the ledgers and similarly, you can prepare the remaining ledgers.
The following are the transactions of M/s Rajesh Traders.
Date Particulars
2012
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 Rs 2,000
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
Sept.10 Paid through a cheque of Rs 5,000 for advertisement
Oct.05 Withdrawn Rs 6,000 from Bank for personal use
Nov.30 Recovered Rs 65,000 from Ayesha in full settlement of his account
Dec.12 Goods costing Rs 1,000 donated to NGO
Dec.31 Salaries paid to employees Rs 15,000
2013
Jan.15 Interest received from Bank Rs 2,000
Feb.10 Rajeev has become insolvent Rs 80 paisa in the rupees on a debt of Rs 20,000 was recovered as a compensation
March 31 Stock of good at end of the year is Rs 32,000
Journalize above transaction, post them in ledgers, prepare Trial Balance and Financial Statements for year ending March 31, 2013
Books of M/s Rajesh Traders
Journal
Date Particulars L.F. Debit
Amount
(Rs) Credit
Amount
(Rs)
2012
April 01 Cash A/c Dr. 1,00,000
To Capital A/c 1,00,000
(Business started with cash of Rs 1,00,000)
April 10 Bank A/c Dr. 30,000
To Cash A/c 30,000
(Opened a Bank Account)
May 10 Purchase A/c Dr. 40,000
To Mohan Singh 40,000
(Goods Purchased on credit)
May 10 Carriage A/c Dr. 2,000
To Cash A/c 2,000
(Carriage paid on purchase of goods)
May 20 Rajeev Dr. 20,000
To Sales A/c 20,000
(Goods sold to Rajeev)
May 25 Mohan Singh Dr. 10,000
To Purchase Return A/c 10,000
(Goods returned by Mohan Singh)
June 15 Ayesha Dr. 70,000
To Sales A/c 70,000
(Goods Sold to Ayesha)
June 30 Rent A/c Dr. 10,000
To Cash A/c 10,000
(Rent Paid)
Aug.31 Furniture A/c Dr. 8,000
To Cash A/c 8,000
(Furniture purchased)
Sept.10 Advertisement A/c Dr. 5,000
To Bank A/c 5,000
(Advertisement expenses paid through cheque)
Oct.05 Drawing A/c Dr. 6,000
To Bank 6,000
(Withdrawn from bank for personal use)
Nov.30 Cash A/c Dr. 65,000
Discount Allowed A/c Dr. 5,000
To Ayesha 70,000
(Recovered from Ayesha in full settlement of his account)
Dec.12 Donation A/c Dr. 1,000
To Purchases A/c 1,000
(Goods of Rs 1,000 donated to NGO)
Dec.31 Salaries A/c Dr. 15,000
To Cash A/c 15,000
(Salaries Paid to employees)
2013
Jan.15 Bank A/c Dr. 2,000
To Interest A/c 2,000
(Interest received)
Feb.10 Cash A/c Dr. 16,000
Bad debt A/c Dr. 4,000
To Rajeev A/c 20,000
(Cash compensation of 80 paise in the rupees received from Rajeev)
Mar.31 Closing Stock A/c Dr. 32,000
To Trading A/c 32,000
(Closing stock transferred in account)
Cash Account
Dr. Cr.
Date Particulars J.F. Amount
(Rs) Date Particulars J.F. Amount
(Rs)
2012 2012
April.01 Capital A/c 1,00,000 April 10 Bank A/c 30,000
Nov.30 Ayesha 65,000 May 10 Carriage A/c 2,000
2013 June 30 Rent A/c 10,000
Feb.10 Rajeev 16,000 Aug.31 Furniture A/c 8,000
Dec.31 Salaries A/c 15,000
2013