Question

Q. 12. Enter the following transactions in proper Subsidiary Books, post them into
Ledger Accounts, balance the accounts and prepare a Trial Balance :
.
2002
Jan. 1 Assets Cash in hand 320,000; Debtors : Sri Gopal 15,000,
Poonam & Co. 330,000; Stock 31,75,000, Machinery 31,20,000;
Furniture 40,000.
Liabilities: Bank Overdraft 33,000; Creditors : Niranjan Lal 324,000,
Bombay Trading Co. 16,000.
Jan. 2 Purchased from Manohar Lal & Sons goods of the list price of $20,000 at 10% trade
discount.
5 Returned to Manohar Lal & sons goods of the list price of $2,000.
10 Issued a Cheque to Manohar Lal & Sons in full settlement of their account.
12 Sold to Sri Gopal, goods worth *25,000.
15 Received Cash 10,000 and a Cheque for 8,000 from Sri Gopal. The Cheque was
immediately sent to bank.
16 Withdrew for personal use : Cash 35,000 and goods 3,000.
17 Accepted a bill for 45 days drawn by Niranjan Lal for the amount due to him.
18 Acceptance received from Poonam & Co. for the amount due from them payable after
30 days.
19 Sold to Raghubir Brothers, goods valued 16,000.
20 Cash purchases 15,000.
22 Withdrew from bank for office use 10,000.
23 Purchased from Bombay Trading Co., goods valued 324,000.
24 Sri Gopal returned goods worth 2,000.
25 Received from Raghubir Brothers 10,000.
27 Accepted a bill for 25,000 for 1 month drawn by Bombay Trading Co.
27 Paid Rent by Cheque 2,800.
Received Commission in Cash 800.
31 Paid salaries 5,000.
(See Solution on next Page)​

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